August 2021 Freight Market Update - (Vans👍 Refrigerated👍 Flatbed👎) + Top Payng Loads in Trucking

In this Freight Market video we're going to look at August 2021 as well as the rest of the year when it comes to the trucking industry. We'll review data from the Arrive Monthly Market Update, created by Arrive Insights which consists of consolidated data from FreightWaves SONAR, DAT, FTR Transportation Intelligence, Morgan Stanley Research, Bank of America Internal Data, Journal of Commerce, Stephens Research, National Retail Federation and FRED Economic Data from the past month as well as year-over-year.

The freight market looks strong . We're looking at further spot rate growth in August 2021 and through the remainder of the year. This is the case for vans and refrigerated but unfortunately may not be the case for flatbed carriers and owner operators.

In addition to increases in the spot freight market, we're also seeing contract rates are increasing and tender rejections are declining while oddly enough rates are still increasing. This is a strange scenario for the freight market because this is generally speaking quite backwards.

We're also going to look at the national freight rates as reported by DAT Trendlines and Arrive. What's being reported are elevate rates in the freight market but as you'll see from the second portion of this video, our truck dispatchers have completely blown those rates out of the water. This is why it only makes sense for truckers to run with a strong truck dispatch service. You end up making more money while not having to make hundreds of calls, negotiate rates, fill out set up packets, call for insurance certificates, and deal with billing and invoicing.

JULY DAT Spot Market Dry Van: $2.72 | Arrive: $2.73
July DAT Spot Market Reefer: $3.13 | Arrive: $3.11

Many of our truck driver customers are running well over $3 per mile with some running at over $4 per mile. It only makes sense that you work with a strong truck dispatcher and make more money on your miles but ultimately we leave this to the carriers and the owner operators to decide.

So what's driving these elevated rates in the freight market? Truck & trailer parts and labor shortages are a part of it as well as the many other things we've covered in many of our previous video releases. Something else that's driving shipping costs up is the truck driver shortage which we also talked about in a different video. I've left cards to those videos throughout this video so you can take a look at those for more details.

Something else that's driving freight rates up are the record high levels if imports as well as low inventories which we've talked about as being good for all truckers in America. Let's also not forget that we're heading into peak retail season which is likely to further increase freight rates.

All in all August 2021 looks good for vans and reefers but unfortunately not flatbeds as they have already shown rate declines in previous months, in July, currently in August, and likely to the end of the year. This being especially the case for flatbeds as temperatures begin to go down with the winter season just around the corner.

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Timestamps
00:00 - Intro
00:11 - News
05:43 - Loads
06:01 - Dry Van
07:23 - Reefer
08:23 - Vented Van
10:14 - Dry Van
11:10 - Reefer
12:24 - Dry Van Team
13:45 - Outro

Видео August 2021 Freight Market Update - (Vans👍 Refrigerated👍 Flatbed👎) + Top Payng Loads in Trucking канала AFT Dispatch