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    Carrier Market Update: 06.08.23 - GGG Logistics

    Below, please see the latest market updates from across our carrier network. Please inform, consult, and educate your customers, prospects, and teammates on current market conditions.

     

    Weather Updates:

    • The National Interagency Fire Center released the 2023 wildfire potential outlook for June through September. The modeling shows the most likely regions for above-normal wildfire activity to be in the Northwest, North Central and Northeast regions, as well as eastern Alaska. 
    • Wildfire activity can impact freight movements due to infrastructure damage, road closures, power outages and more. Any event that culminates will be communicated directly with affected clients as well as in this weekly update.

     

    LTL Updates:

    • Diesel prices went down for the seventh week in a row, decreasing nationally $.058 to $3.797/gallon. Diesel is down $1.906 from one year ago. Rates decreased in all 10 regions with the largest decrease of $.091 in the West Coast less California region, and the smallest decrease of $.020 in the New England region.
    • RIST Transport, based out of Phelps, NY, acquired AMA Transportation Company, Inc. (Massachusetts). This acquisition will increase the service footprint of RIST across the New England market with overnight service from terminals in CT, MA, ME, NJ, NY and PA.
    • LTL rate forecasts have been revised and are showing a decrease further from a 2.4% decline to a 3.2% decline y/y (year-over-year), however; 2024 is showing an increase of .2% y/y which may come as soon as the end of Q1 2024.

     

    TL Updates:   

    • Spot load posts are down 7.7% from last week with spot truck posts down 13.7%. LTR (load-to-truck ratio) was back up in all three categories (Van, Flatbed, and Reefer).
    • Dry van demand increased to 2.99-1 LTR, with the heaviest demand remaining stable in AZ and SC at over 5.5-1 LTR.   
    • Dry van spot RPM (rate per mile) is up 1 cent from May to $2.08 RPM, down $0.60 y/y nationally, with the Midwest having the highest RPM at $2.19.
    • Flatbed LTR inched up .15 from last week to 12.55-1 LTR nationally, with demand highest at 18+ to 1 LTR in the following states: AL, AR, ID, LA, ME, MS, OK, OR and SC.  
    • The national spot flatbed RPM is flat from May at $2.66 RPM, down $0.75 y/y, with the Midwest and Southeast holding the highest RPM at $2.79. 
    • Reefer demand increased by .19 to a 3.82-1 LTR, with the highest demand in AL, AR, AZ, CA, FL, GA, NM and MS at over 5.6-1 LTR. 
    • National reefer rates are down 1 cent to $2.45 RPM from May, down $0.60 y/y, and are highest in the Central South at $2.54 RPM. The Midwest, Southeast, and Western regions all are sitting at $2.53 RPM.
    • According to Sonar’s 4 Week Capacity Score data, the following markets have experienced the most tightening:  
      • Van: Evansville, IN; Milwaukee, WI; Tifton, GA; Medford, OR; Fresno, CA and Fort Worth, TX. 
      • Reefer: Miami, FL; Nashville, TN; Jefferson City, MO; Pendleton, OR and Twin Falls, ID.           
    • Conversely, the following markets have experienced the most loosening:  
      • Van: San Diego, CA; Indianapolis, IN; Erie, PA and North Platte, NE.
      • Reefer: Columbia, SC; Winchester, VA; Charlotte, NC; Greenville, SC and Toledo, OH.  

    Embargoes:

    • A. Duie Pyle:  
      • Weight restriction over 9,000 lbs., no more than 7 pallets 
    • DHE (Dependable Highway Express): 
      • No more than 6 pallets 
    • N&M Transfer:
      • Residential PU/DEL
    • SAIA: 
      • No shipments over 15,000 lbs., 7+ skids 
    • Southwest Motor Transport: 
      • Weight restriction over 10,000 lbs., no more than 6 pallets
    • Standard Forwarding: 
      • IB/OB ANK terminal which is Iowa and some parts of Illinois

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