This fireside chat recap is from FreightWaves’ Domestic Supply Chain Summit on Wednesday.
FIRESIDE CHAT TOPIC: Freight market conditions and what to keep an eye on in 2024.
DETAILS: Brent Hutto, chief relationship officer at Truckstop.com, explains the recent spot market cycle and why current conditions will likely linger through the first half of 2024.
KEY QUOTES FROM HUTTO:
On why this spot market cycle has been different: “What’s not been normal is fuel. What’s not been normal is inflation and that makes things really hard, especially on small market players. So that’s why you see a lot of the pain inside of the spot market.”
On 2024 outlook: “Kind of more of the same. Kind of just continuing to work out this giant marketplace that we had. Since it increased so much, it’s going to take a little bit longer to get out. These next six months [are] probably just more of the same.”
Why contract rates have remained elevated in comparison to spot rates: “Most shippers don’t want to take the risk of not being able to get goods to market. … [Carriers operating under contracts] have been able to maintain a really positive contract rate inside the marketplace.”
Craig Test
These trucks with these cameras facing them on the driver what you’re going to do is lose a lot more drivers you’re going to have more new drivers out there in a road is going to be unsafe you guys choose this way you wonder why a lot of people are getting out of it don’t pay enough to put up with that s***
Abed Aladarbeh
Question
About FedEx freight
And FedEx express
Why they don’t use the contracting model fedex ground uses
Sasi hui
Yes the Truckstop expert is the best one! Better they will learn to do better their job! And les do prediction’s about the market past and future!