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Truckload Spot Rates * USA - Level Off, Carriers Eye Contracts
Capacity seen remaining tight for holidays, say Werner, Knight executives
New York,NY,USA -The Journal of Commerce Online -Sep 10, 2010: -- Truckload spot rates are “flattening out” heading into the fall after rising sharply in the second quarter, according to a trucking industry executive, but longer-term contract rates are likely on their way up... John Steele, executive vice president and chief financial officer at Werner Enterprises, said at the Credit Suisse Automotive & Transportation Conference in New York this week the, that contract rates make up a larger share of the truckload carrier’s business will rise in coming months as stronger demand bumps up against tight capacity in the market... “We’re in a position to take these weak-economy rates that we have in our contracts and replace them with good-economy rates,” Steele told... Steele said Werner, the nation’s third-largest truckload carrier, saw its overall rates grow about 2 percent from the first quarter to the second quarter after five straight quarters of decline. Spot rates soared 25 to 30 percent in the second quarter, however, and continued rising in July... Truckload carriers will start negotiating contracts for 2011 later this year and industry executives say they expect tight capacity to push pricing upward... (Photo from Werner Enterprises)
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