Yes, we know it, times are hard. But that also means that times are changing and we have been analyzing all of our data and there are a few observations that came out. We are sure that all of this can give you an idea of what types of changes can be made in your business to adapt it to the actual ecosystem needs.
Let us give you an update on current market conditions
The market started showing stabilizing contracted freight volumes over the past two weeks ( positive sign for carriers )
Tender rejection is still declining, but the rate of decline is less than before, this a reliable indicator of market direction. ( 8% nationwide ver low )
The slowing decline of the spot market is a positive sign for owner operators
Van contract rates also start showing some stabilizing in the market after a sizable drop in mid april ( positive sign for carriers )
Big market headwings to continue watching. China has not yet been felt in the US surface freight market, this is still a few weeks out and it's hard to tell how the surge in diesel will sap demand from shippers.
Here are 5 tips to help you and your business adapt to the actual market conditions.
You have to change and focus on weekly revenue NOT highest load rates. Define a revenue goal per week with realistic market conditions.
There are not many load options, take decisions faster and don't over think the rate ( not all the markets rates will have high paying rates )
Keep running, don't lose or wait for a perfect load. If you lose a day you lose revenue. Remember you will have to average all your week loads per mile.
4. Focus on KEEP your truck rolling every day. Be the first one or always on time to ARRIVE the shippers and receivers. Remember losing an appointment will make you sometimes lose a day.
5. Find a dispatch service that can help you to plan, check the market conditions and keep you rolling booking loads for you.
We can help you.
Start now.
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