Numerous players in the trucking industry are predicting that freight rates will rise after the record lows experienced in 2023?

While a potential slowdown may concern shippers, it should not stop the cargo flow. A benefit that can come from the current LTL industry is that the costs for shipping may go down. However, getting in touch with a freight broker can also lead to finding the best prices for moving goods.

There are certain aspects a shipper should know when needing to move goods by truck during the holiday season.

There are several benefits that a shipper can have from understanding how carriers determine trucking rates.

When transporting cargo domestically, the standard method uses 40ft and 20ft containers. A less conventional yet very beneficial way to ship freight is called breakbulk. Breakbulk is a method of shipping in which the hauler moves the goods without an intermodal container. Instead, the cargo is loaded into the carrier individually utilizing crates, drums, hazmat boxes, or pallets. Liquid breakbulk shipments are stored in barrels before being shipped. This differs from regular bulk, where carriers transport goods without packaging or containers.

Not using a freight broker can hurt the shipment when moving cargo domestically. Freight brokers are the intermediary between shippers and trucking companies.

Both shippers and truckers have felt the impact of overcapacity, which has been different depending on the players involved.

Alongside the declining spot rates in the trucking market has been a concurrent decrease in freight volume moved. The DAT Truckload Volume Index (TVI) listed the dry van, reefer, and flatbed TVI from January to February. Both dry van and refrigerated truckloads fell close to 8%, while flatbeds surprisingly were up 7.9%. It is unclear if the decreasing amount of cargo moved is a direct cause of the lowering of transportation rates. The same can be said vice-versa; however, this can also reflect a deceleration in the trucking industry.

With the significance domestic shipping has for cargo movement, what’s equally significant is finding a suitable carrier for cargo movement.

🚛📦 Handling cargo damage is vital for successful domestic shipping. Damaged freight impacts everyone in the supply chain, from the shipper and trucker to the end receiver. Businesses risk losing customers and revenue, while truckers face financial loss and a damaged reputation. Our latest article focuses on managing damage in truck shipping. Protect your goods and keep your operations smooth.