Recent data from ACT Research’s March For-Hire Trucking Index showed fleet purchasing intentions at 35% compared to a historical average of 56% for February.
Spot freight rates fluctuate daily, making it tough for carriers to maintain profitability. While load boards provide access to freight, they often lead to rate wars, inconsistent loads, and lower margins. The key to long-term success? Establishing direct relationships with shippers.
Unlike spot market freight, direct shipper contracts offer stable rates, predictable revenue, and reduced competition. Carriers who move beyond transactional load board freight by networking, cold-calling shippers, and delivering exceptional service can secure steady, high-paying freight lanes. The most profitable fleets don’t chase loads, they build partnerships that drive long-term financial stability.
FreightWaves’ Rachel Premack wrote an article on Wednesday outlining her experience attending a truck driver training conference in Corpus Christi, Texas, by the National Association of Publicly-Funded Truck Driving Schools (NAPFTDS). Premack sought to get more information on a fundamental disagreement in trucking that involves driver turnover and whether there is an ongoing driver shortage.
At a Morgan Stanley investor conference Tuesday, trucking executives predicted a muted peak season after acknowledging the industry is in the midst bottom of the freight cycle while hoping for some improvement in 2024.
Trucking passes all five of Paul Newman’s tests for a successful futures market. That’s why we’re building a financially-settled freight futures contract with Nodal Exchange and DAT.
