Good News--The Freight Market is about to Soar

Transportation Industry is Zooming Up

I sure enjoy reading some good news.  I like news that shows we are on the upswing...news that shows forward movement is on the horizon. I read this very encouraging article by Craig Fuller,  CEO and founder of Sonar, Freightwaves.com.  Thanks Craig.   Here is my recap of and a link to the article:

Freight Market forecasting is tricky, especially today, because of the unprecedented nature of COVID-19.  Craig Fuller points out in his article that electronic tenders are an excellent way to forecast the future of the freight industry.  A tender is an actual, real time request for a load.  The tender is sent from a shipper to a trucking company a few days before the needed pick up.  Thus the tender request is a leading indicator of the direction of the freight market.

In the article Craig has excellent graphs showing this indicator.

Many groceries, consumer goods and healthcare products have consistent freight demand.  Other items such as beverages and produce are more seasonal in nature.  The predictable freight is contracted freight. Contracted freight is largely handled by major carriers.  When this contract market bottoms out then the spot freight market heats up.

Craig writes:  "Over the next few weeks we can expect parts of the economy that impact freight demand will start to come back...spot rates will firm starting in May."

That is excellent news for freight brokers.  Some of the industries that will be slow to restart like travel, large outdoor events and restaurants do not effect the freight industry in a major way.

Stay the course if you are a freight broker or take our course if you'd like to learn a career where the sky is the limit.

Moving forward,

Jeff Roach
www.brooketraining.com
214-206-1169