Trucking spot rates give the appearance of a steadier start to 2020 for the freight industry
Data appears to suggest that US spot truckload rates are beginning to firm up based on reports by JOC.com. While it’s too early to pop the corks on a bottle that represents prices increasing it’s in stark contrast to the overall trends observed throughout 2019.
Only a few weeks into the new year spot rates range from being negligibly down to being flat year over year. It’s speculated that prices could move above year old prices levels in Q2 2020. The overall strength in pricing continues to rest with shipper while truckers are left on the hope that the year will see incremental improvements in pricing.
All indications are that the middle of 2019 was the cellar for spot rates and across the industry, even a more stable market would be beneficial to all parties concerned. Rates took their normal bounce upward from November to December and in the early stages of January are continuing a gradual ascent.
Of course, much may hinge on the overall economy this year, most specifically in the manufacturing sector which has had a bumpy ride of late which is far from a boon for the trucking sector. Stability would be welcomed in pricing as the long road back to increased rates will almost certainly begin with a leveling off that is likely to last a number of months.
If you have urgent freight requirements and need dedicated vehicles including sprinter vans and box trucks nationwide or even negotiated air freight rates via our network of agents don’t hesitate to contact us today.
Data & research provided by JOC.com
