March 21, 2021 Update If a pandemic isn’t enough, let’s throw in a polar vortex that disrupts transportation across 2/3 of the country! Contract Van Rates and Spot Van Rates CLICK ON THE INTERACTIVE CHART Shippers were hopeful that the… Read More
February 18, 2021 Update Average spot and contract rates converged in January at $2.36 / mile as the spot market cooled slightly in January. The spot market has leveled off in February, but those prices are the same level as… Read More
Guest commentary by Mike Mulqueen, JBF Consulting – as provided for the January 2021 Freight Market Index report
January 20, 2021 Update The US National average diesel price, as of January 18, sits at 2.69 / gallon, rising .31 cents since early November. After a period of both low prices and low volatility, diesel has risen 10 consecutive… Read More
Guest commentary by Mike Mulqueen, JBF Consulting – as provided for the October 2020 Freight Market Index report
NATIONAL DIESEL PRICES A bright spot for ground shippers and carriers is the continued low cost of diesel. The DOE national average has been within 4 cents of $2.40 / gallon since April. (Data Source: EIA) OIL – WEST TEXAS… Read More
Just seven months ago, we were looking at historically low spot rates. Before the pandemic, there was already pressure on the spot market due to excess carrier capacity;
Industry experts believe that we will start to see a leveling out of the spot market, but they believe that rates will remain elevated. As we get into TL contracting season, one would anticipate the TL carriers asking for substantial rate increases to bring the SPOT/CONTRACT rate delta back into balance.
I am interested in getting other’s perspectives on why spot rates are so high, as my supposition is based on feeling and not data.
Guest commentary by Adam Gray, JBF Consulting – as provided for the July 2020 Freight Market Index report Almost every day it seems our plans are changing. Whatever we assumed were next steps yesterday often get migrated to the back… Read More