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Welcome to the WHAT THE TRUCK?!? newsletter. In this issue, skyrocketing lumber prices, where’s the Tesla Semi, two brokerage bankruptcies and more.
Will it fall under $3?
SONAR
Downhill skiing in spring The Truckstop.com seven-day dry van rate per mile continues its three-plus-weeklong slide, falling another 4 cents to $3.04. Although rates are declining, both freight volumes and capacity have remained stable. According to the Outbound Tender Reject Index in SONAR, carriers are still rejecting more than 1 in 4 loads.
“Spot rates were roughly 30% to 70% higher year-over-year throughout the first quarter. Rates are 80% higher in the latest week.” FreightWaves’
Human capital With drivers still in short supply, carriers are having to increase wages by as much as 20% in some cases to help fill the seats. According to TCA data, insurance costs as a percentage of revenue jumped 16% in the first two months of ’21. Some analysts have looked at th