Contract and Spot Rates Decreased in July

08/30/2022

Both contract and spot rates fell during July for Dry Van, Reefer, and Flatbed loads. Now is the time to revisit shipping rates! Summit Logistics Group would like to be a part of your team, let us show you why we’re one of the fastest growing logistics companies in the nation!  https://www.logisticsmgmt.com/article/dat_truckload_volume_index_trends_down_to_more_seasonal_patterns_in_july

Inc. 5000 News Release

08/16/2022

Supply Chain Disruption Briefing

08/11/2022

Supply chain pressures are at “historically high levels”, but they have fallen for the third month in a row. This is a great resource for market updates and a quick read.  https://mailchi.mp/aitworldwide.com/august-9-2022-supply-chain-disruption-briefing-577483?e=21c773c439

Contract Truckload Rates Are Likely Dropping

08/08/2022

“The spread between spot and contract rates has averaged around record low levels (~-74 cents a mile) since early May. That said, the rate differential is too large to sustain for long. Some level of rate decrease will occur if demand-side conditions remain at or below current levels. Judging from history, it would appear a […]

Transportation Pricing Declines Again in July

08/03/2022

Supply chain data released Tuesday showed further cooling in transportation markets. A 7.4-point jump in available transportation capacity (69.1) drove pricing lower in the month. This was the fastest growth rate for capacity since April 2019.  If you haven’t revisited shipping rates recently you may be paying too much. Summit Logistics Group wants to be part of your […]

Trucking Industry Trends

07/06/2022

https://www.dat.com/trendlines This is a fantastic resource for industry trends updated weekly. National spot rates for both dry vans and flatbeds are still on the decline. Reefer rates are holding steady in large part due to produce season. Summit Logistics Group wants to be a part of your shipping team. Rates are constantly changing, let us […]

A Potential Economic Recession and the Supply Chain Bullwhip are Colliding

06/23/2022

“A full 77% of U.S. container imports come from industries that have reported massive supply gluts (retail, electronics, furniture, clothing, and appliances).  The national spot index 7-day rolling average dropped from $2.07/mile on June 1 to $1.96/mile on June 20th.  The weekly average of container spot rates from China to the U.S. West Coast has […]

US Shippers face another round of re-evaluating their trucking strategy

06/20/2022

For the first time in over a year spot rates in the US trucking market have dropped below the level of contract prices, according to transport management and logistics provider Transplace, acquired by Uber Freight last year. Traditionally 5% to 10% of the market is in spot rates, but in January some shippers sourced as […]

Do you have a plan B?

06/20/2022

During the Reuters Supply Chain Execution 2022 June 1st and 2nd in Chicago, one of the main topics discussed involved resiliency. Dow Chief Supply Chain Officer Greg Jozwiak “It’s about how fast you can recover and convert learnings from past events into your playbook. We will have disruptions. We don’t know what the next ones […]

The Ocean Shipping Reform Act

06/16/2022

https://www.logisticsmgmt.com/article/u.s._house_passes_the_ocean_shipping_reform_act_with_biden_set_to_sign_it_i “During the pandemic, ocean carriers increased their prices by as much as 1,000%,” he said. “And, too often, these ocean carriers are refusing to take American exports back to Asia, leaving with empty containers instead. That’s costing farmers and ranchers—and our economy—a lot of money. This bill will make progress reducing costs for families and […]

Van Report: Tight holiday capacity led to surges in rates

01/07/2022

Dean Croke  on  January 4, 2022, 1:14 pm. From: DAT.com The latest data from the American Trucking Associations (ATA) For-Hire Truck Tonnage Index recorded the fourth straight month of gains following last November’s 1.3% m/m increase. Compared with November 2020, the index was up 2.5% y/y, which was the largest year-over-year gain since May of last year. “In November, […]

Growers (and trucks) migrate south for the winter

12/13/2021

Dean Croke  on  December 8, 2021, 2:46 pm Leading vegetable producer, Church Brothers Farms, supply the market with salads year round. To make all of this happen, they operate in Salinas and the San Juan Valley of California for the spring and summer season and in Yuma, Arizona, and California’s Imperial Valley for the winter season from November to April.  […]

Is the Driver Shortage About to Ease as Transport & Logistics Applications Rise?

12/01/2021

Emily Buckley November 30, 2021 We’ve all seen the headlines proclaiming that Christmas will be ruined yet again this year — but this time not because we’re in the middle of a pandemic. The fate of Christmas 2021 apparently lies in the hands of HGV (Heavy Goods Vehicle) drivers, of which the Road Haulage Association estimates there is […]

New rail connection will expedite shipping container delivery from Wilmington to the Midwest

11/23/2021

The Wilmington Midwest Express rail service will provide a more direct connection between shippers and consumers(NC PORTS)

Cybercriminals Target Transport And Logistics Industry

11/08/2021

By Lindsey O’Donnell-Welch Cybercriminals are targeting organizations along the supply chain sector with cyberattacks and claiming in underground forums that they have access to networks for companies that operate air, ground and maritime cargo transport. The global supply chain is facing widespread challenges, with the COVID-19 pandemic leading to fluctuations in the availability of goods. At […]

Used truck prices have more than doubled in the last 12-months

11/02/2021

Dean Croke  on  October 26, 2021, 3:44 pm The outlook for used truck prices looks great if you’re a seller. It’s not so good if you are one of the many fleet owners scrambling to add capacity to meet demand.  According to Chris Visser, Sr. Analyst and Product Manager, Commercial Vehicles at J.D. Power:  “Shipping backlogs and […]

Carolina Connector Opens in Rocky Mount, Edgecombe County

10/25/2021

CCX positioned to reach 5 million within 120-mile radius. THE CAROLINA CONNECTOR INTERMODAL TERMINAL IS OPEN FOR BUSINESS. As a better, faster, and more cost effective way for suppliers to reach consumers, the Carolina Connecter is moving goods throughout North Carolina and the Eastern United States. CCX is providing valuable supply chain routes while bringing jobs […]

Reefer markets staying busy with pumpkins and imported produce

10/18/2021

Dean Croke  on  October 13, 2021, 9:45 am With Halloween just over two weeks away, Midwest retailer Meijer expects to sell more than 500,000 locally grown pumpkins for carving or decorating. More than 95% are expected to arrive at a Meijer store just a day or two after harvest from a nearby pumpkin patch.  “Michigan, Ohio and Illinois rank […]

‘We’re going to see a lot of bare shelves’: Retail preps for a holiday beset by supply chain pain

10/06/2021

Bottlenecks from factories to cargo ships mean fewer goods on shelves and fewer discounts for the season. Written by: Ben Unglesbee, Senior Reporter, Retail Dive Before gifts can make it under holiday trees this year, they are going to have to pass through one of the largest-scale traffic jams modern supply chains have ever experienced. […]

DAT Truckload Volume Index Fell 8% in July as congestion gripped supply chains

09/08/2021

Original Post Date: 08/23/2021 7:54 am PORTLAND, Ore., —Truckload rates hit new highs and freight volumes remained elevated in July but retreated from June’s record levels, as shippers paid a premium for transportation amid pandemic-related supply chain disruptions. The DAT Truckload Volume Index was 222 in July, down 8% compared to June. The Index is […]

August dry van spot prices from DAT Freight & Analytics

09/08/2021

Source and Credit for post and graphic: Jason Miller Wanted to share an update on August dry van spot prices from DAT Freight & Analytics that I’ve seasonally adjusted using the U.S. Census Bureau‘s X-13 software. Plot is for linehaul prices (excluding fuel surcharges). Thoughts: •Seasonally adjusted prices in August were practically unchanged from July and remain down […]