Truck Load Rates Halt 8 Week Slide 2.0

It is pretty crazy from what I can see. You thought you got out too early price wise but maybe it was perfect?

Luckily I’ve only been exposed to 3 overpriced reefers during this crazy time. I’m strongly considering selling 2 trailers and 1 of my oldest trucks to help off set.

These are unprecedented times even for this 14 yr veteran. One thing is for sure. If your not constantly positioning, and maneuvering then this industry will leave you behind.

 

On second thought, I might not be seeing a lot of good paying loads on Convoy because I stopped driving with them. I use to get first crack at those good loads because of my perfect driving record with them and my high volume. Now that I don't do that, they may have stopped showing them to me. My usual search for them only showed around 20 results compared to the dozens or more in October. I'm just not sure.

 

P608 I'm sorry to hear that

 

It has been a poor week with the volume and the rates in the Chicago outbound market. The poorest in a long time, especially if you want to book as you go. Perhaps the rates are still decent enough when you pre-book ahead of time but those are not unaffected either. This week I made two moves from IL to MN and back to IL for $3620 on a total of 800 miles - not bad in my book but neither yesterday nor today so far can I see anything worthy to jump on. I'll keep watching but ... it is not like it was a few weeks ago. Some time ago, I played a herald and envisioned the better times coming to an end in March - April this year...is that it, or on the other hand should I have bitten my tongue?
The market plunge could end the overall nuisance tendencies such as lack of equipment, parts, an absurd amount of new authority applications...etc. It is time to tone down the euphoria.
On the other hand, it is gloomy to see the loadboard this much poorer - the lanes are paying even as much as $1500 less than 5 weeks ago - when the revenue was easily in the range of $6500 - $7000

Today it is $5000 - $5500, and with fuel at $5 per gal, the cost of running this lane and the backhaul lane is $1800 - $1900, so instead of being left with $5000 and more after fuel and toll costs, you are at $3000 -3500 today!

Perhaps, it is prematurely to call it a downturn yet but those I have seen before started off like that.


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Chicago, IL - Baltimore (100/100 miles search radius) for dry van:



Back hauls:

 

We are back to the usual seasonal adjustment, most likely it will be slow till mid May or so.
Add high fuel prices, lack of parts, slowdown of general economy and it can get very brutal for the next couple of months.

I have a very hard time booking loads this week, totally feels like spring of 2019 again haha
Thinking about just taking few weeks off and watching guys with high equipment payments cut each other throats for a while

 

They allow for a further 6 month EIDL loan deferment which in my opinion should be demanded to be paid back as scheduled and ASAP - which would help to reset the capacity to its natural levels.

 

I don't disagree with your sentiment, but the terms on the EIDL loans are something like 30 years, so that payment is miniscule to begin with. Slowing that down doesn't make much difference.

We've been trying to find space to set up distribution centers in the Seattle and Las Vegas areas. Simple boxes to be used for warehouse space are renting for more than houses, on a square foot basis. Everyone is increasing inventory in reaction to the shortages. When those warehouses are all full-up, THAT's when everyone will stop ordering, and we'll stop shipping.

 

That's how it was when I started driving, then the Japanese taught us about jit and the result was mfg's using trucks for warehousing.
Warehouse space got really cheap, everybody was trying to add capacity, the result is we got shippers shipping on price instead of service, mega carriers, as long as you can fog a mirror you're hired, homeless no address? no problem we will pay on a comdata card, don't worry we will cut rates until we get what we want, convenience store truck stops instead of full service truck stops.

 

Hopefully you’re not paying close to that.
First pic is NASTC and the other is TCS.

 

Nice discounts.
I have Fleet One Edge and the cheapest price in the area I found was $4.39 today. The rest is about 4.80 - 5.00.