Weekly discussion and analysis on the trends in the intermodal spot rate market. The InTek intermodal spot rate index increased 4.9% from the prior week.
Shippers all across the US are struggling to meet the demands their supply chains are requiring to bring products from the western port cities to the interior of the US to meet their consumer orders.
Everything you need to know about domestic intermodal and how to be successful implementing it into your logistics strategy. Gives tips, tricks and insights on intermodal and what to watch out for when converting from truckload to intermodal.
If you are struggling to find outbound freight capacity from Los Angeles, you are not alone. Shippers all across the US are struggling to meet the demands their supply chains are requiring to bring products from the western port cities to the interior of the US to meet their consumer orders.
We are living in unprecedented times with the world slowly recovering from the COVID-19 global pandemic. The effects on supply chains have been felt far and wide with demand coming in different forms of consumer purchases favoring goods over services and online buying. As a result, the freight network is out of balance, and demand for trucks to move product is significantly higher than the supply motor carriers, freight brokers and logistics companies have to service the requirements, which has truckload pricing at all-time highs.
For three of the last four years, shippers have been struggling with 53’ freight capacity challenges brought on by weather disruptions, economic swings, labor shortages, equipment shortages and the COVID19 global pandemic.
It is not new news that shippers all across the US are struggling to find cost competitive 53’ OTR truckload and domestic intermodal freight capacity to move their products. The struggle of shippers’ demand outstriping freight providers’ supply is best illustrated in the elevated truckload spot rate market, which is one of the best market examples of the law of supply and demand that indicates prices rise when there is greater demand for a product or service than supply.
The biggest constant in the freight industry is change and the freight mini-bid has become the tool of choice by logistics professionals as a way to navigate the volatility found in the dynamic freight market that thrives at the intersection of supply and demand.
Like clockwork, every 4th quarter fills freight and logistics companies email boxes with freight requests for quotes (RFP’s), but why?
InTek Freight & Logistics hired Ray Brezden to lead its intermodal and truckload sales team. Ray comes to InTek via Piggyback Consolidators where for the last forty years he served North American intermodal and truckload shippers.
As part of the decision process a logistics professional goes through to bring an intermodal strategy to their company one of the most pressing questions they ask themselves is whether an asset or non-asset intermodal provider will be the best fit for their business requirements.