Truck Load Rates Halt 8 Week Slide 2.0

Discussion in 'Freight Broker Forum' started by Scooter Jones, Mar 7, 2020.

  1. Accidental Trucker

    Accidental Trucker Road Train Member

    3,084
    6,611
    Jun 4, 2015
    0
    I used to load and deliver both at prison farms in Wyoming and Denver as a green card holder, nary a problem. Drivers all had to be screened and approved in advance, however. None of this "show up and we'll figure it out" stuff.
     
    Rideandrepair, PPDCT and Siinman Thank this.
  2. Truckers Report Jobs

    Trucking Jobs in 30 seconds

    Every month 400 people find a job with the help of TruckersReport.

  3. TallJoe

    TallJoe Road Train Member

    7,490
    16,266
    Apr 12, 2016
    Chicagoland
    0
    So I decided to do some work, to generate enough revenue to keep the savings intact and to avoid digging in them. A truck operator and his truck needs some motion in order not to get rusty too.
    This week consisted of 3 loads on 1550 miles and $4225 Mon - Fr which after the fuel and tolls left me with $2900.
    Next week will be also 3 loads on 2120 miles for $5753 Mon - Fr (Sunday morning delivery) which after fuel and tolls should leave me with $3800.

    My monthly fixed costs are about $1400 - the cost of doing nothing with active MC#.

    That's a few levels less than what was possible as recent as 3 months ago but still better than do nothing, or so I think.


    Would it not be great to come up with a formula by which we could determine the rate by which the truck is wearing down to an inevitable end?



    For example, if I went to a future teller and ask her how many more miles on my truck before the pistons will kick out through the block, or a main bearing would turn, and she said at least, son you got at least 300 000 mile to go...well if that is true then running at 2.70, even with diesel at $5 per gal does not feel frighting at all. On the other hand, someone might ask, how about you did an overhaul and had another million to go? Well, that's a valid point too but the word has it that with today's overhaul kits parts, regarding the regained life of the overhauled engine, you can never be so sure of. It is not like it was 5-10 years ago.
     
    PPDCT, Rideandrepair and 86scotty Thank this.
  4. TallJoe

    TallJoe Road Train Member

    7,490
    16,266
    Apr 12, 2016
    Chicagoland
    0
    A future teller?! A good idea or not...

    Heck, my wife - before I met her - went to one and she says all she was told turned out true.


    The only thing is that I don't know if a future teller told me things that I would not want to hear...after all you can't change the future, or can you?!
    I'd have to tell her...here's my Vin#...tell me how much longer the truck is gonna go..?! and nothing else I want to know.

    And I'd also ask her, if kidney stones are going to ever hit me again while on a trip...if so then when?!
    Besides merciless pain, you are dealing with $3000 post factum bill, even if you have an insurance on you.

    OK
     
    Last edited: May 7, 2022
    Rideandrepair Thanks this.
  5. 86scotty

    86scotty Road Train Member

    3,898
    10,150
    Aug 27, 2017
    Appalachia
    0
    I've been thinking along these same lines Joe. I've been weighing lots of options. This past week was the first bad one for me luckily but the problem is deeper than the current rates. The problem is more of a human problem. Once you know what you are capable of, capable of earning, it just sucks to go back to where you were before making less. The game doesn't matter, trucking or selling hot dogs, no human with the ambition to start a business in the first place handles it well when things go backwards.

    I have thought less and less about replacing equipment lately, more about how long I can go on without any payments on anything and just maintain. For this to happen, basically this work takes a back seat. It becomes a job and not a passion/lifestyle/whatever you call it. I had a good paying run worked out for Mon/Tues and looked at the price of fuel where I was going and just decided to sit awhile longer. I know this isn't a long term answer, I just couldn't face it.

    Maybe I'm just not hungry enough yet.
     
    Rideandrepair, lynchy and TallJoe Thank this.
  6. TallJoe

    TallJoe Road Train Member

    7,490
    16,266
    Apr 12, 2016
    Chicagoland
    0
    We've seen it before...it always takes time to readjust. Now it seems that 3 dol a mile average is not that bad at all, if I could only get that. lol.
    For me, sitting at home does not cut it. I need to get out and do something. Besides the fact that money is being spent in daily life no matter what. Keep in mind that even with the inflation, that over 5 dol per mile freight for a over a year got us spoiled big time, so when we get back down to Earth from Heaven, it always feels bad.
     
  7. san00

    san00 Medium Load Member

    332
    1,241
    Jan 3, 2011
    0
    Amen! It was so nice to not book ahead and know when you get empty you have choice on where to go and with a good rate. Now it's back to booking well in advance and hoping a load doesn't cancel along the way.

    The thing that gets me as that we know the broker is still getting what they were (or pretty close) rate wise as they have been and making 50% margin without any of the risk. I know they will say go get your own customers yada yada yada but most won't give you a time of the day unless you got double digit assets. I knew the downturn was coming but thought it would be in 2023. It's scary how fast things have eroded.

    From things I'm reading it seems like the spot rate is below the contract rate so it's going to be interesting if volumes uptick on the spot market and rates stabilize or if rates continue lower. I've been saying volume is good and that should at least bring some stabilization to the rates.
     
    Rideandrepair Thanks this.
  8. Long FLD

    Long FLD Road Train Member

    9,502
    36,966
    Mar 4, 2015
    0
    Hanging out in Phoenix, managing to stay one step ahead of the Repo man, kinda like that one episode of Movin On.


    C9FA9BF7-E724-4DF0-BF7A-419A421FECC7.jpeg 8BF064BF-35A2-4237-AE49-6420774EA06F.jpeg
     
    lynchy, kemosabi49, larry2903 and 8 others Thank this.
  9. Rideandrepair

    Rideandrepair Road Train Member

    16,472
    53,812
    Aug 8, 2015
    0
    Well, I didn’t take advantage of the high rates. I guess I did in a different way. I worked less than half the time. I’ve always worked as much as possible. Always. It was nice to get a break. I enjoyed every bit of it. Too much time at home is no good for Me either. I doubt I’ll ever retire. I hear it’s not what it’s cracked up to be anyway. Just work less. So I got a taste of what it’s like. Just in case I never see the day.
     
    loudtom and TallJoe Thank this.
  10. TallJoe

    TallJoe Road Train Member

    7,490
    16,266
    Apr 12, 2016
    Chicagoland
    0
    You maximized your home time and that it is important too. After 20 years, I am at the point where every night spent in the truck feels like too much for me. The human mind works in mysterious ways. At least mine. It takes a few weeks to appreciate and enjoy good rates, but after awhile you can still appreciate them but don't necessarily enjoy them, they become daily reality and it is still hard to keep maximum focus and work 70 hours every week. Then when the trend is reversed, you also quickly adjust to another reality where first it is hard to put up with the slide but later you just deal with it.
    I heard that there is a DOT blitz next week starting May 17. I personally find them much too overrated but, traditionally, there should be some rate uptick on the spot market. I got things to do at home next week, so it does not concern me either way.
     
    Rideandrepair Thanks this.
  11. 86scotty

    86scotty Road Train Member

    3,898
    10,150
    Aug 27, 2017
    Appalachia
    0
    I have yet to decide if I'm going to run next week.
     
    Rideandrepair Thanks this.
  • Truckers Report Jobs

    Trucking Jobs in 30 seconds

    Every month 400 people find a job with the help of TruckersReport.