ºÚÁϳԹÏÍø

The trucking industry is facing a tepid financial outlook amid volatile market conditions compelled by the ongoing tariff-fueled global trade war, experts said.

Tariffs introduced by the Trump administration, and the consequent aversion to risk, are a major reason why there is no clear trajectory for recovery, the study’s authors warned.

FTR expects contract truckload rates to increase 2.2% on a full-year basis in 2025, adding that by the end of 2025, contract rates will be rising 5% year on year.

Uber Freight introduced a spot freight fulfillment platform to expand beyond its flagship contract procurement tool launched last year, the company announced May 16.

The spot market is struggling to rebalance as the rate of carriers exiting has slowed despite sluggish demand.

The trucking spot market has remained in a down cycle for more than a year as the number of trucks and drivers diminished — albeit at a slower rate than the decline in overall freight demand.

The second quarter of 2023 has revealed a potentially bleaker outlook for the freight market, almost reaching numbers of the freight recession witnessed in 2019. Discover the secrets behind success as we explore how freight brokers should navigate the uncertainty of a down market.

Traditional freight brokerage operations have been historically inefficient. Manual processes and associated errors are now being overhauled by AI-driven technology that streamline the manual and time-consuming workflows, all while providing next-gen insights that foster data-driven decisions. Download the whitepaper to explore how we’re empowering brokers to maximize efficiency through automation.

The spot market has become stuck in a stagnant bottom with market patterns preventing it from building back momentum.

A surge in spot market rates that led some truck drivers to leave fleet jobs and go into business for themselves has cooled off, bringing with it a downturn in the number of drivers striking out on their own, industry data shows.