It will be a shipper's market through the first half of 2020

Nov 01, 2019 at 01:08 PM CST
Dive Brief: Excess capacity in the trucking market dragging down spot market and contract pricing by double digits put pressure on C.H. Robinson's revenue in the third quarter, executives said on an earnings call Tuesday. Price per mile billed was down 12.5% year-over-year for the firm in Q3. Net revenue declined 8.7% for the quarter year-over-year with truckload volumes down 4%, intermodal volumes were down 24% as low trucking rates brought shippers back to truckload from intermodal.?"While industry data suggests truckload capacity continues to exit the market, we believe capacity will exceed available shipments for the next few quarters," said CEO Robert Biesterfeld. In July, the CEO said some shippers asked for rate concessions outside of the normal contract bidding cycle as rates dropped. This week, he confirmed his previous assessment that shippers can expect low rates through the first half of 2020.

Nov 01, 2019 at 01:08 PM CST

Dive Brief: Excess capacity in the trucking market dragging down spot market and contract pricing by double digits put pressure on C.H. Robinson's revenue in the third quarter, executives said on an earnings call Tuesday. Price per mile billed was down 12.5% year-over-year for the firm in Q3. Net revenue declined 8.7% for the quarter year-over-year with truckload volumes down 4%, intermodal volumes were down 24% as low trucking rates brought shippers back to truckload from intermodal.?"While industry data suggests truckload capacity continues to exit the market, we believe capacity will exceed available shipments for the next few quarters," said CEO Robert Biesterfeld. In July, the CEO said some shippers asked for rate concessions outside of the normal contract bidding cycle as rates dropped. This week, he confirmed his previous assessment that shippers can expect low rates through the first half of 2020.