Looooowwww Rates

Slowly but surely the companies that are hauling cheap are going out of business. You need times like this to thin out the heard.

 

The downward spiral accelerates before it levels off and eventually starts climbing again. People run more miles for even cheaper as a last ditch effort. We’ll see how the ELD effects this cycle in this regard. I’d say we’re in the acceleration mode right now.

 

They still say more trucks are coming in than leaving out . I did read one article stating capacity is starting to slowly bleed out though, but who knows how accurate that is?

Sure doesn't seem like it out here on the road IMO

 

The used truck market is in the toilet which is a good sign that tells me more are leaving then entering. We’ll see though. Someone could expand their fleet very affordably right now if they wanted. Assuming they went used. We’ll also see what insurance does, everything I’m hearing is rates will continue to climb.

 

Seems like new trailer prices are down a bit too.

 

We shall see.

 

No, no it doesn't

 

I haven't seen prices this bad in 10 years. Half price rates from what use to be.
Brokers are no doubt taking advantage of taking $200 off a $700 load paying $500.
Heck the driver is going to pay $200 in fuel to move that shipment and will get maybe $275 after delivery 24 hours later.
The broker books 3 shipments making $600 and each truck makes $275 each

 

The prices going out to the Midwest from the NE blow my mind. How anyone can keep above water is absurd.

 

The worm has turned (temporarily) and the shippers, via the freight brokers, are sticking it to carriers who depend on the spot market.