Arrive Logistics December 2023 Market Update

Arrive Logistics shared its December 2023 freight market update, offering a comprehensive layout for logistics in November.

Key Insights:

• Spot and Contract Rates: Van rates spiked around Thanksgiving, while reefer rates increased in early November but then dropped. The gap between spot and contract rates remains high, pressuring contract rates downward.

• Flatbed Rates: Mostly unchanged, showing stability in the market.

• Capacity Trends: Sufficient capacity despite regional surges, slower exit prolonging the current cycle.

• Retailers: The National Retail Federation reports strong import numbers, signaling an end to destocking for retailers.

Truckload Rates:

• Van Rates: Remained flat early November, spiked during Thanksgiving.

• Reefer Rates: Increased early November, then dropped mid-December.

• Flatbed Rates: Slight fluctuations, relatively steady.

Supply and Demand:

• Capacity: Adequate for holiday season, some tightness expected around Christmas.

• Tender Rejections: Below 4% for vans, indicating strong contractual compliance. Reefer rejections followed a similar pattern but with more volatility.

Economic Factors:

• Consumer Spending: Remains robust; credit card expenditures up.

• Inflation: Below 4%, leading the Federal Reserve to maintain flat interest rates.

• Retailers: The National Retail Federation reports strong import numbers, signaling an end to destocking for retailers.

For a detailed understanding, visit Arrive Logistics December Market Update.

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