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Recon Logistics Freight Management Blog

Recon Market Update - October 13, 2021

Posted by Hank Newman on Oct 13, 2021 1:03:16 PM
Tis the season for... Gift Cards.  
 
A lot of folks have asked about why we have such a "Supply-Chain Disruption," but for those of us close to this industry, we know that has existed for at least a year now and the media is late to the party.
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Tags: Freight Class, Accessorials, LTL, Freight Rates, LTL Carrier Cost, Rules Tariff, Logistics, LTL Service, Limited Access, Freight Technology, TMS, Freight Insurance, Freight Claims, Freight News, Freight Update

Recon Market Update - September 27, 2021

Posted by Hank Newman on Sep 27, 2021 9:12:05 AM
This week is the last week of the quarter and you know what that means.  Expect more than normal disruption and late deliveries.
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Tags: Freight Class, Accessorials, LTL, Freight Rates, LTL Carrier Cost, Rules Tariff, Logistics, LTL Service, Limited Access, Freight Technology, TMS, Freight Insurance, Freight Claims, Freight News, Freight Update

Recon Market Update - September 16, 2021

Posted by Hank Newman on Sep 16, 2021 1:44:35 PM
It's been a few weeks since the last market and some of that reason is that not much has changed.  Status quo of higher TL rates, tight capacity, and poor LTL performance persists and is expected to last well into 2022.  Same old story.
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Tags: Freight Class, Accessorials, LTL, Freight Rates, LTL Carrier Cost, Rules Tariff, Logistics, LTL Service, Limited Access, Freight Technology, TMS, Freight Insurance, Freight Claims, Freight News, Freight Update

Recon Market Update - August 26, 2021

Posted by Hank Newman on Aug 26, 2021 11:00:28 AM
September is probably my favorite month of the year and perhaps it is for many of you too.  Awesome weather, football, etc.  Love it!  So, for me, it's good news that September is just about here.  And that's our good news for the day so don't say I didn't have any!  Wait - I may have some below so keep reading :)
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Tags: Freight Class, Accessorials, LTL, Freight Rates, LTL Carrier Cost, Rules Tariff, Logistics, LTL Service, Limited Access, Freight Technology, TMS, Freight Insurance, Freight Claims, Freight News, Freight Update

Recon Market Update - August 13, 2021

Posted by Hank Newman on Aug 13, 2021 2:07:47 PM
Going to keep it short and sweet this time and leave you with a few teasers to ponder (and reply back if you'd like!).  I'm also including a link to the monthly Cass Freight Index report which is always a good read as well as sending a few updated charts on pricing and service.
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Tags: Freight Class, Accessorials, LTL, Freight Rates, LTL Carrier Cost, Rules Tariff, Logistics, LTL Service, Limited Access, Freight Technology, TMS, Freight Insurance, Freight Claims, Freight News, Freight Update

Recon Market Update - July 20, 2021

Posted by Hank Newman on Jul 20, 2021 1:50:23 PM
We got no service, we got bad rates, our pet's heads are falling off!  (c'mon - you all have to know that line right?).  That's about the funniest thing I have today as the rest of this is the same old story.
 
Below are a few interesting charts with some international data and I think the point we're trying to make is that this is a global freight "pandemic" that is impacting all the big boys just as much as it's impacting each of you.  No one is immune.
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Tags: Freight Class, Accessorials, LTL, Freight Rates, LTL Carrier Cost, Rules Tariff, Logistics, LTL Service, Limited Access, Freight Technology, TMS, Freight Insurance, Freight Claims, Freight News, Freight Update

Recon Market Update - June 18, 2021

Posted by Hank Newman on Jun 18, 2021 9:32:59 AM

My wife took my boys to get suits this week and had to go to 3 different stores before she could find an employee at the store to help.  The previous two said no one was working and they simply cannot fill positions.

We can't shut the world down and give out boatloads of free money to everyone and expect to get back to anything close to normal for a while.
 
FedEx Freight, as I'm sure you all know, took the unprecedented step of flat out cutting off 1,400 shippers due to having too much volume.  Other carriers are following right now - maybe not cutting off shippers entirely, but we are hearing they will stop accepting certain freight at certain times - overlength items, volume shipments, shipments to/from congested areas, etc, etc.
 
Quite simply put - all of the above adds up to a distressed industry where there is no "solution" other than time - and I wouldn't expect things to clear up for another year at least.  So this challenge will be with us for a long time.
 
The article below out of the Journal of Commerce discusses much of this with better detail and well worth the read.  Pay attention to the last paragraph.
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Tags: Freight Class, Accessorials, LTL, Freight Rates, LTL Carrier Cost, Rules Tariff, Logistics, LTL Service, Limited Access, Freight Technology, TMS, Freight Insurance, Freight Claims, Freight News, Freight Update

Recon Market Update - June 11, 2021

Posted by Hank Newman on Jun 11, 2021 10:59:03 AM

Cass just released their monthly transportation indexes and it's always an interesting read so I'll let them speak this update with a link to their report for May, 2021.

I find the last line interesting - " With enough time, we believe the cure for high prices is high prices."  Meaning - don't expect freight rates to go down.  The "new normal" is all about looking inwards to find freight savings (planning, optimization, etc).
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Tags: Freight Class, Accessorials, LTL, Freight Rates, LTL Carrier Cost, Rules Tariff, Logistics, LTL Service, Limited Access, Freight Technology, TMS, Freight Insurance, Freight Claims, Freight News, Freight Update

Recon Market Update - May 21, 2021

Posted by Hank Newman on May 21, 2021 3:01:05 PM

Today's focus is on what we're seeing in longer-term pricing trends for LTL and TL.

For LTL pricing, we look to the Feds LTL PPI for long-term guidance and the signal here (shouldn't be a surprise) is that LTL pricing is starting a new leg up.  Carriers have had pricing power for some time now, but TL is always faster to respond vs. LTL.  Currently, we are hearing that many LTL carriers are looking for double-digit increases, cutting unprofitable business, and not even considering new RFP's (unless you're a preferred partner like Recon is ).
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Tags: Freight Class, Accessorials, LTL, Freight Rates, LTL Carrier Cost, Rules Tariff, Logistics, LTL Service, Limited Access, Freight Technology, TMS, Freight Insurance, Freight Claims, Freight News, Freight Update

Recon LTL Carrier Update - May 17, 2021

Posted by Curtis Garrett on May 17, 2021 9:32:09 AM

After a very rough 1st Quarter to start off 2021 in the LTL realm due to extreme weather scenarios, coupled with the already tight capacity issues due to Covid 19 – things seemed to settle down somewhat in April.  However, since then Recon has seen many carriers halting service and executing embargoes in various lanes in May again. 

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Tags: Freight Class, Accessorials, LTL, Freight Rates, LTL Carrier Cost, Rules Tariff, Logistics, LTL Service, Limited Access, Freight Technology, TMS, Freight Insurance, Freight Claims, Freight News, Freight Update

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