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Welcome to the WHAT THE TRUCK?!? Newsletter. In this issue, PS5 delays extend into 2022, spot rates spike, who are the pipeline hackers, Nike and Postal Service settle on sneaker, and more.
Rates rocket back up
SONAR
To the moon Spot rates have shot up like “The Price Is Right” mountain climber as we’re now just a dime away from hitting a new all-time high in SONAR. The Truckstop.com dry van average continues its second consecutive week of elevation, rising 18 cents per mile this week to $3.23/mile, inclusive of fuel.
How long will they stay there? Andrew Cox reports declining tender volumes last week may be a function of the Commercial Vehicle Safety Alliance’s 72-hour safety blitz, a time when many drivers take off and shippers respond accordingly by pushing or pulling freight away from this week. Fewer drivers equals less capacity and higher rates. Now that those drivers are back behind the wheel, and since both volumes and outbound tender rejects