2024 Freight Market: We're Looking at Flatbeds, Vans, and Reefers

Here's what to expect from the 2024 freight market for flatbeds, dry vans, and reefers! The trucking industry's outbound tender rejection rate shows us the intricacies of the freight market, shedding light on trends and patterns that impact transportation and logistics.

The Contract Market tightening has led to an upward trend in tender rejection rates, creating an environment favorable for the Spot Market. There was a huge decline in flatbed freight beginning March 2022, particularly in industries such as manufacturing, energy, and construction. Throughout 2023, flatbed average rejection rates were over 10%, experienced significant spikes, hitting 20% on three separate occasions. However, based on the Rejection Index, I anticipate improvements by the end of February.

Reefer trailers, which were regarded as the best in 2020-2021, maintained a rejection rate of 6% in 2023. There are several factors influencing reefer rejection rates, including seasonal variations, generally higher rejection rates around the holidays, and regional disparities. Notably, the North and Midwest regions witnessed the highest reefer rejection rates, while the Pacific Northwest faced reduced capacity due to seasonal fluctuations and low demand. Despite these challenges, I project volume and prices to improve in 2024, with expectations in the near-term, from mid-February to March.

Dry van rejection rates, sat at just over 3%, which indicates a prevalent overcapacity issue. These trailers are widespread, resulting in consistent and low rejection rates and a low performer since May 2023. My analysis covers the complexities of dry van freight and the impact of overcapacity on the rejection rates.

Additionally, the average differential between contract market shipment rejects and the spot market, which averages at 14.8%. This valuable insight emphasizes the lower rejection rates in the spot market compared to the contract market.

#Flatbeds #DryVans #Reefers

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[texwilliams]

AFT got $4800 at $2.68 pm mile this week. Not a lot of gross, but only because of a blizzard. However for the month I am at $17, 700 at $3.12 per mile. In a DRY VAN !!

[blkhemi]

Just did a load from Georgia to North Carolina running a reafer.
Frieght cost: $1150
Company gets 30%
To the driver: $750
Fuel costs: $300
Trailer washout: $50
Total profit to the driver:$400

[ReallifeTV]

Rates are up now! 3$ a mile excellent rates don’t cap 🧢

[jajajaja]

5700 is 2k above other co pay for 2500 miles that's $ . You can full truck and still be in the green .

[majikjohnson]

How the hell are you getting good dry van rate like that? Man those are amazing rates

[MrRjnorwood]

How can I drive for you? I have my own truck

[JarvisDenmark]

I have my own truck. May I run Under your insurance 4 years of experience.

[nrwdope]

Killer rate lol we booking 5k from ia to ga on 800 miles 🤣🤣