The Daily Dash is a quick look at what is happening in the freight ecosystem. In today’s edition, spot rates are climbing quickly across the country as capacity continues to tighten. Plus, a specialized hauler thrives during COVID-19 and Omnitracs gets a ratings review following its announced acquisition of SmartDrive.
Runaway rates
Freight rates continue to rise, with nearly half the lanes in the country seeing per-mile rates above $3. That means carriers are being more selective about what they haul.
Andrew Cox explains what is driving rates: Spot rates above $3/mile in 46 of 100 lanes
Wind at their back
Anderson Trucking Services (ATS) has spent years building up a specialized trucking business. Even the COVID-19 pandemic has been unable to dent its growth, and the company is thriving thanks to wind turbines.
Chris Gillis talks with ATS’ CEO: ATS has wind energy at its back
Ratings review
Omnitracs’ purchase of SmartDrive might make good business sense, but it didn’t help its credit rating. Two major credit rating bureaus downgraded Omnitracs following announcement of the acquisition.
John Kingston explains what concerns the rating agencies: Two agencies cut Omnitracs’ debt rating after SmartDrive purchase
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Did you miss this?
A push by the Federal Motor Carrier Safety Administration (FMCSA) aimed at providing more flexibility for drivers operating under hours-of-service regulations could also boost capacity for fleets but might come at the expense of safety.
John Gallagher explains why this might also be bad for drivers: Split-duty rest break: A lever for boosting capacity?
Hammer down, everyone,
Brian Straight
Managing Editor
Click for more FreightWaves articles by Brian Straight.
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