Brokers: spot rates “escalating sharply”

Mar 18, 2020 at 08:11 AM CST
The unprecedented surge in truckload volumes to restock retail stores with groceries, soap and hand sanitizer, bottled water and electronics is tightening trucking capacity and pushing spot rates up. On a national basis, contracted truckload volumes are now up 16.5% year-over-year (OTVIY.USA). Meanwhile, the rate at which these loads are being rejected by carriers and brokers has reached 9.76% (OTRI.USA), well above any level reached last year except during the Christmas holiday. In Allentown, Pennsylvania, carriers and brokers are rejecting 15.5% of loads; in Quincy, Illinois, they’re rejecting 32%. The tightest regions in the country are the extreme Northeast, including Maine, and the Mountain West, including Denver and Grand Junction.

Mar 18, 2020 at 08:11 AM CST

The unprecedented surge in truckload volumes to restock retail stores with groceries, soap and hand sanitizer, bottled water and electronics is tightening trucking capacity and pushing spot rates up. On a national basis, contracted truckload volumes are now up 16.5% year-over-year (OTVIY.USA). Meanwhile, the rate at which these loads are being rejected by carriers and brokers has reached 9.76% (OTRI.USA), well above any level reached last year except during the Christmas holiday. In Allentown, Pennsylvania, carriers and brokers are rejecting 15.5% of loads; in Quincy, Illinois, they’re rejecting 32%. The tightest regions in the country are the extreme Northeast, including Maine, and the Mountain West, including Denver and Grand Junction.