Punxsutawney Phil, the groundhog who predicts spring, did not see his shadow last week — which supposedly means an early spring is on the way. Regardless of the groundhog’s shadow, analysts are keeping a keen eye on spring shipping, which will kick off within the next three to six weeks. Goods needed for home improvement, […]
Today, in a trucking industry first, Convoy announced that our freight marketplace is automatically matching — without human intervention — 100% of loads to trucks in top markets. These include routes from major West Coast markets such as Seattle, Portland, and Los Angeles; Midwest routes from Chicago, Cincinnati, and Milwaukee; routes from Texas markets such as […]
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All eyes have been on the Midwest this week as cold weather chaos on the highways brought the freight network in the some Midwest markets to a standstill. Freezing temperatures caused tightening capacity due to traffic pile-ups, gelled fuel and general hazards of being outside in such extremes. Trucks failed to start, while others ended […]
Thanks to all who attended FreightWaves’ January Monthly Freight Market Update webinar sponsored by Convoy. We discussed how economic growth is slowing and is being accented by low demand, which is typical in the first quarter of the year. This is resulting in excess capacity of carriers and spot rates falling off a cliff. The […]
Scroll down to download the report and learn about nine trends driving the trucking industry this year. The trucking and transportation industry is entering a new year that has the potential to be even stronger than the last. Based on data from our platform, industry research, and conversations with carriers, shippers, truck drivers, investors, analysts, technologists, and […]
While a series of winter storms have impacted freight from coast to coast, with highway closures surrounding some major freight markets, the soft marketplace continues to show a surplus of capacity nationwide. According to FreightWaves, national tender rejections have remained stagnant, while tender volumes have decreased 3.5%. Monday, January 17 saw the largest single day […]
In the first full week of the new year, volumes across the country are gaining traction, with national volume up 69% since the start of the year. It typically takes a week for volume to come back into the network after the holidays, and it picks up steam well into January. It should come as […]
As we head into the Christmas holiday, national freight volume remains low. The market has been trending down since November, and hasn’t seen the characteristic holiday freight increase that was expected. Capacity is plentiful in most regions, with tender rejections very low. In the week before Christmas in 2017, the freight market began rejecting […]
Thanks to all who attended FreightWaves’ December monthly webinar, sponsored by Convoy. December Market Trends We discussed how demand has been cool for the holiday season because 1.) shipping had been relatively uninterrupted by hurricanes or other major storms this fall, and 2.) the economy has begun to plateau. With tariffs pushed back a quarter, […]