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Spot Market Freight Rates Soar After Hurricane Harvey

DAT Solutions

Most of the major van markets actually had fewer outbound loads available, though, and most regular freight heading to Houston was canceled. Another cost of Hurricane Harvey: many Houston-area refineries were offline, and some remain closed for now. Dallas rates also soared, as some freight was diverted to that busy freight hub.

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U.S. Freight Logistics Industry Recession Continues with Some Hopeful Signs

Supply Chain Matters

freight and logistics industry continues to mitigate recessionary conditions including the April 2023 Logistics Manager Index reaching its lowest level lowest level in six years and one-half years. freight, logistics and parcel movement industry. Freight rate reportedly fell 37 percent. The LMI has now declined 6.7

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How to Protect Your Freight From Cargo Thieves

GTG Technology Group

5 Tips for Protecting Your Freight Against Cargo Thieves. Protecting freight is one of the responsibilities you have to your clients. A few areas with high rates of cargo theft are Los Angeles, New Jersey, New York, Miami, Houston, and Chicago. Sources: [link]. The average value of stolen goods per incident was $142,342.

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What happened to all the Texas freight?

DAT Solutions

In the first half of the year, the spot market in Texas was boiling over, with not nearly enough trucks to cover the growing demand for freight. Demand also cooled out of Houston, the largest flatbed market in the country and the top market supplying Midland and its surrounding counties. What happened? New pipeline projects underway.

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How Will Hurricane Harvey Affect Freight Rates?

DAT Solutions

Trucks can’t get in or out of Houston , which is a huge freight hub – it’s the number 1 source of loads for flatbeds, thanks to the oil and gas industry, and one of the top 5 or 6 markets for both van and reefer freight.

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Four Risk Mitigation Actions for Weathering a Stormy Market

TMC

The recent decision by Japan’s three largest container companies to merge their shipping operations is yet another symptom of the volatility that is roiling the freight business. Achieving lower freight costs by switching to another coast might not be viable if the new transit time is too long. Vessel size is a further consideration.

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Summer freight: Calm before the storm?

DAT Solutions

Freight rates have steadily declined since the Fourth of July, but they're still high. There isn’t much urgency for long-haul freight at this time of year, so a lot of shipping has moved over to rail. The spot market cooled in Texas , and outbound rates in Dallas and Houston have fallen more than 10% in the past month.