In today’s Trucker Tools Market Index Report, you’ll see that demand for flatbed capacity will remain high in industrial and manufacturing centers across the nation over the next week. Reefer demand also will stay elevated for border and port cities. As expected, demand and rates for dry van have decreased in many areas, as we enter a post-holiday lull for retail. Overall demand for trucks, however, remains elevated when compared to previous years.
According to a report yesterday from FreightWaves, new class 8 truck orders for December were up by 153 percent when compared to 2019, which will likely increase overall truck capacity in the market at some point. National outbound tender rejection rates, which directly impact driver pay, have dropped below 24 percent for the first time since August. That being said, overall freight volume currently is significantly higher than it’s been in previous Januarys.
Where Rates Will Be Heating Up
- In today’s Trucker Tools’ Market Index, we see that the
highest demand and rates for flatbed in the next week will be in
Allentown, Pa.; Rapid City, S.D.; Southwest, Ontario (Canada); Bowling
Green, Ky.; and Lubbock, Texas.
- Tucson, Ariz., Montreal and Norfolk, Va., will be the
hottest markets for reefer in the next five to seven days.
- Indianapolis is predicted to be the hottest power
only market in the coming week.
- Expect high rates/demand for van capacity for
Jonesboro, Ark., over the next week.
Where Demand Will Be Cooling Off
- Expect flatbed rates to decrease this week for
Corpus Christi, Texas; Stockton, Calif.; Joplin, Mo., and Texarkana,
Texas.
- Demand/ rates for reefer capacity will be
falling in the next five to seven daysfor Hartford, Conn., and
Seattle.
Trucker Tools’ Market Insights
- Demand for flatbed capacity in Allentown is
currently much higher than in previous years, indicating that
manufacturing in the area is coming back online after several shutdowns in
2020 due to Covid-19.
- Allentown also is home to U.S. Specialty
Formulations, a pharmaceutical manufacturer that is working to develop
a Covid-19 vaccine. The company recently expanded its manufacturing plant
in Allentown and is expected to request FDA Emergency Use Authorization
approval of its vaccine within the next six months.
- Indianapolis
is a major manufacturing and transportation hub, so it’s no big surprise
that demand for power only will be high there in the coming week.
- Indianapolis also is home to the second largest
FedEx hub in the United States.
- The Norfolk, Va., reefer market and Lubbock,
Texas, flatbed market continue to heavily favor truckers and carriers.
Today’s FreightWaves SONAR Insights
Where Demand Will Be Cooling Off
- Expect flatbed rates to decrease this week for Corpus Christi, Texas; Stockton, Calif.; Joplin, Mo., and Texarkana, Texas.
- Demand/ rates for reefer capacity will be falling in the next five to seven daysfor Hartford, Conn., and Seattle.
Trucker Tools’ Market Insights
- Demand for flatbed capacity in Allentown is
currently much higher than in previous years, indicating that
manufacturing in the area is coming back online after several shutdowns in
2020 due to Covid-19.
- Allentown also is home to U.S. Specialty
Formulations, a pharmaceutical manufacturer that is working to develop
a Covid-19 vaccine. The company recently expanded its manufacturing plant
in Allentown and is expected to request FDA Emergency Use Authorization
approval of its vaccine within the next six months.
- Indianapolis
is a major manufacturing and transportation hub, so it’s no big surprise
that demand for power only will be high there in the coming week.
- Indianapolis also is home to the second largest
FedEx hub in the United States.
- The Norfolk, Va., reefer market and Lubbock,
Texas, flatbed market continue to heavily favor truckers and carriers.
Today’s FreightWaves SONAR Insights
Today’s FreightWaves SONAR Insights
Trucker Tools is partnering with FreightWaves to provide you with additional insights into trends and hot/cold markets. FreightWaves is reporting today that the national average for dry van outbound tender rejections peaked at 28 percent on Dec. 27, but has since declined to 23 percent, driven by lower retail volume. FreightWaves also reports that markets in the Southwest are seeing increased demand for dry van capacity, while dry van spot rates are cooling for many regions in the Northeast, Southeast, Midwest and West Coast.
SONAR Lane Insights
FreightWaves’ SONAR Daily Watch recommends that carriers and drivers accept tendered loads for Seattle to Chicago, since reloads out of Chicago are plentiful. It’s recommended that you target Denver to Dallas, as outbound rejections have recently increased and the market is expected to tighten even more in the next three to four days. Allentown to Charlotte also should be on your radar in the coming week since the Charlotte market is stabilizing at a faster rate than most of the rest of the country.
The Trucker Tools Market Index Report is published every Monday, Wednesday and Friday. Read Wednesday’s Market Index Report, Lubbock Flatbed, Norfolk Reefer and Twin Falls Power Only the Hottest Markets for Truckers in the Coming Week. To download Trucker Tools’ free driver app, visit https://www.truckertools.com/carriers/.
