What will the freight market do for the rest of 2021?
We’re always looking ahead to what our customers and carriers could expect from the freight market in the weeks and months ahead, so we decided to reach out to a forecaster who’s made it his entire career.
Avery Vise, VP of Trucking for FTR Intelligence was kind enough to join us on the Trucking For Millennials podcast to share his insight and expertise a few weeks ago and we thought it would be helpful to highlight this clip where he talks about what he expects freight rates to do for the rest of 2021 and into 2022.
Check it out here:
“If we put aside the pandemic and just assume it’s not going to be a huge issue, then we’re pretty bullish about the next year or so. And we also, right now, from the carriers perspective, we are looking at a very strong period for the next 6-12 months, certainly the next 6 months, and maybe well beyond that in terms of rates”.
We also asked Avery this question: How should shippers navigate this environment?
“As I look at what is happening in the market, when I look at capacity, the issue with capacity is less the amount of capacity we have and where that capacity is residing. As I mentioned earlier, with this huge surge in the number of new carriers, these are by definition not working for the ‘core carriers’, or the route guide carriers for example. So, from a shippers stand point I think the two things I would point out is that there might be a significant change in the next few months because of reduced unemployment benefits…but the other side of it is that route guides may just need to change.”
“Your expectation of being able to go back to the carriers you’ve always done business with…that just may not work anymore. And so I think there’s going to need to be a lot more openness to a different way of doing business, a different potential group of who you get capacity from. You may be contracting with someone that is not a large truck load carrier or medium size truckload carrier, you may be contracting with some other kind of entity.”
Avery and his team has found that there’s been a large amount of new carrier entrants this year, meaning lots of 1 and 2 truck carriers are moving from lease agreements with larger companies and going independent.
As a freight brokerage focused on providing quality flatbed capacity, the carriers Avery references are exactly the ones we work with and seek out on a daily basis.
If you’re looking for truck capacity for the remainder of 2021 we would be happy to share your freight with our growing network of safe and qualified carriers.
Give us a call at 903-759-5325
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