GlobalTranz Team:
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:
- There are coastal flooding advisories for Delaware, Maryland, New Jersey, Pennsylvania, and Virginia. Low-lying areas near shorelines and tidal waterways may experience up to one foot of flooding above ground level. This could impact transit times for businesses where roadways are considered impassable. However, the flooding is expected to subside by Thursday morning.
- We are now past the peak of hurricane season with Philippe and Invest 91L being watched in the Atlantic. Philippe is expected to decline in intensity quickly and Invest 91L is potentially set to become the next named storm. Currently, there are no impacts to the U.S. coast expected.
- Some snowfall is expected to come through the Rockies this weekend as elevated temps across the Northern U.S. continue above historical trends. There are no significant inland weather events in the forecast that will impact transit times over the weekend for long-haul movements.
Less-Than-Truckload (LTL) Updates:
- After a nine-week run, diesel prices declined in seven of the ten regions, down $.047 to $4.586 nationally, which is still down $0.303 from one year ago. The largest increase of $.020 was in New England to $4.607, and the largest decrease was in the Gulf Coast, down $.071 to $4.281.
- Estes’ bid set the floor for Yellow Freight’s terminals and non-rolling assets at $1.525B. The process to acquire terminals will continue with bid deadlines still set for November 9th. Buyers will target locations to gain opportunities to improve terminal positioning and capabilities with greater dock space and intermodal access.
- Yellow’s rolling assets auction of roughly 12,000 tractors and 35,000 trailers is set for October 18th with a deadline for bids set for October 13th.
Truckload (TL) Updates:
- Spot load posts are down 9.6%, spot truck posts are up 1.9%, and LTR (load-to-truck ratio) dipped for van and reefer, while flatbed inched up from last week.
- Dry van demand decreased 13.1% to a 2.50-1 LTR nationally, with the heaviest demand continuing in the Mississippi River Valley and Northeastern states at over 2.6-1 LTR and highest in VT at over 5.5+ to 1 LTR.
- Dry van spot RPM (rate per mile) is up $0.03 from August at $2.11 RPM, down $0.34 y/y (year-over-year) nationally, with the Midwest holding the highest RPM of $2.35.
- Flatbed demand increased 1.8% to a 6.96-1 LTR nationally, with demand continuing to be the highest at 18+ to 1 LTR in AL, AR, MS and OR.
- The national spot flatbed RPM is up $0.01 from August at $2.51 RPM, down $0.38 y/y, with the Midwest holding the highest RPM of $2.68.
- Reefer demand decreased 17.8% to a 2.96-1 LTR, with the highest demand stable in DE, ID and SD at over 12+ to 1 LTR.
- National reefer rates are up 2 cents to $2.52 RPM from August, down $0.33 y/y, and are highest in the Midwest at $2.92 RPM.
- According to Sonar’s Outbound Tender Reject Index, over the past week, the following markets have the highest Tender Reject Index (tightest markets):
- Van: Billings, MT; Huntington, WV; Roanoke, VA; Green Bay, WI and Cedar Rapids, IA.
- Reefer: Bismarck, ND; Fargo, ND; Twin Falls, ID; St. Cloud, MN and Spokane, WA.
Embargoes:
- A. Duie Pyle:
- Weight restriction over 9,000 lbs., no more than 7 pallets
- Dependable Highway Express:
- No more than 6 pallets
- CTII
- OB Denver, CO
- Dohrn:
- IB/OB Litchfield
- Estes:
- IB/OB Denver, Salt Lake City and Cincinnati
- N&M Transfer:
- Residential PU/DEL
- R&L:
- IB/OB China Grove, NC (Charlotte) CHR
- IB/OB Greenville, SC GRE
- IB/OB Nashville, TN NAS
- IB/OB Wilson, NC WSN
- 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
- XPO:
- IB/OB Colorado