Wednesday, December 8, 2010 – The Freight Transportation Services Index (TSI) rose 0.2 percent in October from its September level, rising for the second consecutive month, the U.S. Department of Transportation’s Bureau of Transportation Statistics (BTS) reported today (Table 1).
BTS, a part of the Research and Innovative Technology Administration, reported that the Freight TSI has risen 5.7 percent over the last 17 months, starting in June 2009, after declining 15.3 percent in the previous 10 months beginning in August 2008. Read more »
The time of year can drastically alter your freight rates. Since supply and demand is key, at a time of year when demand is down, rates are generally cheaper. This is especially true in the construction arena, and, especially in areas where the weather is cold in the winter. For example, in Chicago, during peak construction season, every construction truck is running hard, six days a week. But, in the winter time, most of them are parked. So, if you have a mountain of sand that you need to move, January would be a great time to negotiate a good rate to have it done. Read more »
For most freight, any old truck will do. But when it comes to the big stuff, you need the big boys, so rates can be astronomical sometimes. It is a well known fact in the trucking industry that the best drivers are the ones doing heavy haul. The trucking companies that cover these loads are the highest rated companies as well. And, the old adage is still true- you get what you pay for. Read more »
Before you ship your freight, or even call anyone, it pays to do some research and know the current market. These links will help you find out all the answers you need when deciding what to charge, whether you are shipping or a trucking company. You can also find the latest relevant news here.
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As you may know, trucking tonnage fell in December of 2008 a whopping 11 to 14% depending on which source you read. And it dropped (or rose) about one point or so (again, depending on which source you read) in January of 2009. February tonnage is up 3.6% though, so it looks like things are getting back on track. It was a tough winter indeed. Those who hung in there will be glad they did when the market takes another upward step. But for those that did hang in there, the rates were terrible all winter long. Read more »
As most of you know, the trucking industry went through a tough time during the winter of 2008/2009. As of this date (3/26/09) truck tonnage is on the way up and is expected to keep rising throughout the quarter. In the big picture, freight volumes have gone up considerably in the past sixteen years according to the Bureau of Transportation Statistics, and are expected to continue, despite the recent lull. Read more »
There is a general rule of thumb when determining freight rates. Of course, every company is different and there are a lot of variables to consider, like equipment costs, wages, area, type of freight, type of trailer needed, distance, etc. But in general, it’s safe to assume that trucking usually costs around $1.70 a mile to $5.00 a mile. Read more »
Freight rates can and do change from week to week. Just like the stock market and real estate, freight rates vary according to supply an demand. In 2008, more trucks left the industry than any other year in history. More trucking companies have gone out of business in previous years, but never before have several huge companies gone down like in 2008. Although freight volumes are down now, this smaller number of available trucks is very likely to be an important factor later in the year when freight volumes pick up, which most experts agree should happen in the second quarter of 2009 (next month). Read more »
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