Trucking Just Got Scarier: More Capacity Into Spot Market?!
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- Опубликовано: 2 май 2024
- We have so much to battle through as trucking industry professionals as it is, but new things are coming to light. Big carriers like Knight Swift are using the spot market more, some delulu is trying to push a 5 million insurance minimum, and shippers are continuing to reduce load rates.
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All the truckers and the big carriers just all need to take a 2week vacation at the same time
I agree but they would go outta business then which would possibly be better
That alone will not do it. Done properly, it will only take 3 days. I have the plan and it is aggressive, it's not nice and we do not have to beg anyone for shyt. When we come together, they will be begging us to behave.
Is that going to make people buy things?
I agree
@@garybucher6824 Weather people by more doesn't matter nearly as much the freight rate into the pockets of the carriers, where it belongs. Right now more than ever, the viability of the trucking industry, not the brokerage industry, is the only thing that I give a shit about. We run enough miles to pay our bills but the broker margins is the difference in profit and loss. MOST shippers are paying a good rate but the brokers are in the way of it.
Just pretty much retired from the game yesterday... I'll keep my license but not for trucking my brothers farewell please be safe out here and bless up.. #rubbersidedownforlife
A couple years more and I’ll be there, too! Enjoy!
Deuces ✌️
You right on track and so many following behind u.....GOOD JOB👏🏾
Gave it up in 2021. Its just not worth it. Saw the writing on the wall with the Electronic log. U cant even afford to haul a bad load to get a good load because of time. I predicted that covid was the last good run for small companies and o/o. Unless your hauling furniture or specialize loads, your in trouble. The big players have government subsides and self insured ability. Its about how much money you got to stay afloat. The Minute the insurance Rates went up due to liability, boom. Too many People making rules that dont know what it take to run a truck or a company.
I had a good otr hazmat job but the cheap freight backhauls made me turn the keys in.feels good listening to this news from my couch.i love trucking I wish it would change but I doubt it.
No, you’re not doom and gloom. You’re telling people the truth and they can’t handle the truth the world is changing so much as I was sitting around talking to old drivers today we was talking about the days of old and I said those days are gone. I have no clue what’s gonna come out of this. The strong will survive.🤣💯🚛 keep up the great work
Nothing is really changing with trucking other then more traffic and more disrespect they will need drivers always
@@mmid8960 That's exactly what I'm trying to understand, Trucking companies are still hiring like crazy. I'm a CDL graduate, and I have had tons of offers from various companies, to hire me straight out of school. I chose to go to TMC doing flatbed, and they pay percentage of load, not CPM.
Yeah,this is very realistic approach to the matter.We can’t hate someone just for telling us how things actually look like.
I’m glad she mentioned electronic logs.That gave us wrong idea of our own importance.
Wtf you been?? Lol@@mmid8960
@@varqtubeI tried percentage good but not if the rates are low.and I was pulling hazmat.i realized nothing beats hourly. get paid for all your time.just my thoughts
Nobody's buying anything. We broke!
SEABEES #1
Not true. The restaurants and stores in my area are packed. Starbucks drive-thrus have cars backed up, parking lot full. Salt & Straw opening more locations.
@@burningmanmike Right. Folks in my area are outside ALL THE TIME buying buying buying.
Park your trucks for couple of weeks,you will survive and see what is going to happen...a miracle😁
There aren't enough operators to shut down the industry.....
I just quit the company that i had been with for the last five years due to this market. Also, while they wont say it, they are "in trouble." All i was told (as a driver) is that "there's no loads."
Theyve gone from a 'no forced dispatch' to 'we dont want you denying a load.'
In this market. I wouldn't be denying loads anyway. Get what we can get
Force dispatch is wrong. I'm glad you saw the error and left the company.
@@BTyler808Don't haul cheap freight. It puts wear and tear on you're truck and just doesn't pay. Better off if its parked. I have been driving truck since 1975 and still driving.
Never understood how drivers said they can't deny a load lol.try again buddy
@@BTyler808Haul freight cheaper and a quick way to go bankrupt quickly.
Capacity is king, too many trucks and not enough freight. Overheated rates from Covid are coming down, nothing lasts forever !!
Been pulling tankers for 42 years, seen so many changes, nothing surprises me. Thanks Miranda, great video as always !! Take care..
Because your honest and don’t like beat around the bush. Why I subscribe to your page. Have good weekend. 😊
When folks started making videos that they became millionaires driving trucks, it opened the flood gate for new drivers resulting in high supply that exceeded demand. High supply of truckers/trucking options means increased competition and manufacturers can low-ball freight brokers and transporters. And here we are feeling the domino effect. It is the manufacturers' market and not truckers' market. Any profession that opens itself up for easy access will water down its influence. There are reasons medical and legal professions are difficult to get into---to protect their value.
It's not just trucking, look a shipping in general everything is doing bad, shipping, trains. Thanks for the update 👍
when you have weak leadership in the whitehouse this is the result you get, terrible economy and terrible foreign policy, things will change in November
@daMillenialTrucker You seem to have forgotten what Trump's tariffs did to trucking, and he could gaf about workers. And you can't name a single policy he did that helped you, he was given a good economy from Obama. And if he'd handled the pandemic right, the economy wouldn't have tanked. Democrat presidents always have to clean up Republicans messes., and that's a FACT. 😂
@@daMillenialTrucker Stop being ignorant and blaming a single office for current problems. The economy is complex, especially the US's. Some changes take years to affect both society and the economy. If you took time to learn about things outside of politics you'd see things like how purchasing power of consumers has been decreasing for decades. What do truckers mostly haul? Consumer goods.
@@zerocal76 government policy absolutely plays an impact in what happens to the economy.
@@goodymob9638 obamas economy was shit
Thank you for the information. Have a great weekend Miranda.
Nothing lasts forever...not even bad times.
We were discussing with my pals what can trigger the rates to go up. Great video as always. Thank you 😊
Keep up the great work you have been doing 👍
Another way folks can keep up with freight market is keep up with pallet scrapper values. Few years ago when freight was up, 40x48 pallet was paying pallet scrappers $5.00 a pallet and currently paying $1.00.
Wow, when you factor in inflation that is about 1/8 of the value per pallet.
Excellent statistic… Thank You for sharing…
Yeah I actually called 9 Pallet companies this morning all weren't buying, the one who was it was for $2.00 a pallet.
Where is the $2 pallets? $1 is in Polk County, Fl.
Thank you for your work. Your channel is a real news source for the market that we are in. I am an owner operator and I really appreciate the information that you give us. It is hard to find honest numbers and news which is why I find your channel such a valuable resource.
Thanks for the Awsome ( not so awsome) update. Dispite not being the update i was hoping , ive been enjoying these truthful updates.
Love the way you break it down❤
Me too
I love the clarity and real you bring to the trucking business. I'm a USAF veteran and now small trucking business owner and your channel has brought nothing but great information. Keep it up!! 💯
Keep up your honesty and Thks ❤
I've been in the trucking business for over fifty years. The last time it was this bad Jimmy Carter was president. You will get through this down turn. For being in trucking for five years you have a pretty good hand on this business. Keep up the good work.
Thanks for staying consistent with this channel! It’s really helpful and keep it up!
Great analysis. Keep the info stream coming.
thank you for all you do...I get the best news about trucking from you....I love resources.... I be digging but can't come up the information you do....keep it up
Thank you for the words of encouragement at the end of your video. We need more of that in our world. :)
I met guys 6 months out of trucking school buying new Petes and KWs with 3k monthly payments. I wonder how they doing now???
Slaving for the truck
Some guys are signing up for 5,000 a month on freightliners
Bad credit with a repossession
@@josh47807 That is insane..
Ouch!😓
I think after all the Covid drivers and brokers go away we’re going to be left with the drivers that were meant to be on the road,the ones that feel like if you couldn’t drive any more it would break your heart….and that is going to be a wonderful day,I hope I get to see it!
I have been out here OTR for 39 years it has been up and down throughout the 39 yrs.as soon as it looks better. there are a lot of people and company settings on the side lines waiting to jump back in. 😢
" I have a problem, and just can't help myself" 🤣🤣 Yeah, me in some other areas..
Thank you for your vids. They are very educational.i always learn something
As general life formula suggests a big savings are followed by big expenses) So let’s wait until cycle turns into our favor.
So glad I ran across your channel. No gloom and doom you’re just telling the truth. Thirty yrs in and seeing what you are saying.
Thank you, you are great
Well said Melinda! Shark Tanks, Kevin O'Leary, emphasized in a recent interview that the current economic conditions offer an ideal opportunity to launch a business. This isn't due to a booming economy, but rather because tough times force businesses to operate with efficiency and lean practices. Many companies that began with abundant venture capital never learned the importance of frugality and cost management.
Mr Wonderful definitely knows what he is talking about!
You are speaking the truth 🙌 👏 💯
WE DON'T FEAL SORRY FOR THE BIG COMPANIES LET THEM FALL THERE THE REASON THE RATES ARE BAD
You got that right boy
Totally agree 👍
ABSOLUTELY 💯.
Instead of "Gloom and Doom" let's go with "Precise and Pretty" Ha Thanks again...we're gonna make it....
Thanks for the video! ❤
Keep up the great work
I'm a trash truck driver and I'm looking into welding. They will teach me to weld the compactors and trash boxes. Of course, the trash will be out to work on them but, it's time to get out the seat. I'm 30 and been driving for a while. It's time for a change
thanks for such a informative video learned to much from you god bless you
This summer gonna be more bloody!
Keep up the good work❤
Truth and facts are always the best way to go. Got one for you 5klbs Port Townsend, WA. to Florida going for .08 a mile. That's the lowest I seen so far. They might ass well said we got a free one for you.
This is interesting & yeah, troublesome too. I'm a company driver with a large debt free carrier. We do have fewer loads from various regions. But so far I do have work & miles to run.
Must be the company in Lincoln, Nebraska 😊
Your not the doom and gloom of trucking ! You the honest, trustworthy, caring, helpful, genius of trucking ! God bless Miranda ! Yeah ! Have a great happy Bluegrass Gospel singing along life, Miranda ! The happy picking and grinning, jamming bluegrass gospel music radio stations are on Pandora, for everyone ! Also can get your favorite songs and albums on RUclips ! Have fun singing along with Bluegrass Gospel Music ! It always makes me happier ! L.O.L. ❤😊
Keep it Real Gal! We’re all out here to survive and Thrive! People now days want a one off perfect solution for any and everything without having to do the work for it! You bringing the facts keeps the field level. Some won’t be able to swallow it, and that’s ok..it’s their problem not yours! Remember…you’ll never have a hater doing better than you! God Bless and Stay Safe! ….and YES…I subbed😏
Keep up the good work 🫡
I’m deeply and gravely concerned. I wasted money to get a class A CDL license and I’m so close to go and test out and yet I’m hearing terrible news… I guess it’s FDNY firefighter for me next month. I think I’m going to work for a mixer company on the side so that way, at least my CDL is being put into use. #NY#2Jobs#Local
As a small business I don’t see the doom and gloom, I see a incredible opportunity to sell the service side of trucking,I’m finding shippers are tired of mega carriers excuses
A realist, and a very well informed one. What will the next catalyst be ?? Excellent question.........I have no idea.
Maybe upcoming election?
lots of ❤❤❤❤ to you Miranda
When I first started trucking we split 9cents as a team hang in there. It's Aways been tough. Thanks for telling it like is
That last part you said where you were thankful because when it goes up you’ll be there ready for it
The following should have an effect on you, Cababotage. Have you heard recently about Cabotage, sabotage, by Mexican B1 visa drivers now driving dropping their mexican loads and simply changing their license plates to US license plates. They then drive loads into the US. One story is they drive loads from Texas to CA and then taking loads from CA for a $1.00 a mile back to Texas and going back to Mexico.
Exactly correct. Work visa and fuel subsidies.press 2 for English and that buck a mile is paid in less than 20 days.welcome to the new usa brother.
Hey Ms Miranda blessing
Keep up the good Honest reporting #Truckingmadesuccessful…
Last week was terrible for me as a company driver flat bedding. Went from Idaho to Denver sat for 30 hours. Denver to Salt Lake sat for another 30 hours waiting for a reload. Salt Lake to Denver and now im home for the weekend. It was frustrating
As a company driver?
@@BTyler808 yes one of the so called good companies too lol
Hey LETTSSS GOOOO!!! ThAnks
I won $20 bet. The spot on the wall is still there. Ty for the videos we absolutely appreciate it.
Haha that’s a nail
Amen. Always love your truth about the trucking industry. When it comes to insurance. Being truthful with your customers. Telling them the difference between what you're paying and the new cost. They will love the truth and integrity, and the business can see new potential. Amen. Our family has 120 years over the road. Amen.
Soon. You. Need to. Bring the. Topic. Trucking. Cannabalist..then after that. Trucking armaggedon.. Cappiche
I welcome the information, Thank you!!!
I was apart of an Agent conference for a top 10 brokerage in the country and they said there would need to br atleast over 15k+ carriers to exit the market for a month straight for the capacity to straighten out the shippers... Our brokerage has let go 30% of our workers and piled on multiple roles on people without extta pay. All my dedicated drivers ive worked with over the last 7 years only 2 of 12 are left. The 10 that left were in the last year... 5 of them were in the business for over 15 years.
Im leaving my brokerage in the next few months and buying a Mercedes Sprinter and doing expedited local loads paying 3k a week. Better than working for someone and dealing with the Truckload mess thats been hard on everyone the last two years. Ive been with my customers for 6 years now and ill be saying goodbye 😢
What you doing with your book? I can give you a % for it.
would you want to partner up and run as a team? or collaborate i have a few opportunities if interested.
@@davep8957 sure. I have no idea how to exchange contact info on YT comments without doxxing myself. You got any throw away accounts?
_And there are many people out there that constantly need positivity but it’s those very same people that does not understand that the universe demands balance it’s also very rare to find a woman who has this intuitively in the form of realism, keep doing what you’re doing is helping me to calculate moves_
_Nevertheless, it seems like Big trucking companies are the ones that are failing, while fleets with less than 20 trucks are only feeling a pinch and on Operater’s are doing just fine_
That’s critical information
Okay here is my thoughts on what is going on. Yes market conditions are abysmal but there is also the momentum that has set in and making things worse. It is basically like a reverse feeding frenzy. Things might not actually be so bad if not for this reverse feeding frenzy momentum.
If my speculation is correct then the question would seem to be how to break this momentum direction. It could be that any uptick in shipping demand might break it or something else might do it. Or it could even be many little things done by us collectively that do it like all of us resisting bad offers, tightening our belts more, doing more maintenance yourself, being very careful and proactive in your inspections, eking out a bit more MPG, never idling the truck, etc.
If you have idle time then you should be deeply scrutinizing the condition of your vehicle/s. Proactive maintenance is a major factor in the success of this kind of business.
If we can collectively put even a bit more upward pressure on market conditions that may stymie and even halt this reverse feeding frenzy we are being assaulted by. I know it doesn't sound like the major impact that we want but we have to make lemonade with the lemons that we have.
Best wishes all.
I have had my truck parked for going on three years. Cannot afford paying brokers, shippers. and carrier to haul their products. Don't understand how they can afford to haul....what spot market is offering..
Parking your truck is a temporary solution, but a poor one.
Thank you for sharing knowledge
There's only one way to raise the rates. And that is holding to your numbers, but don't load nothing under $2.25 that's going over 650 miles.....
Well if so with certain type of equipment you will not move a truck. Dry van rates overall below $2 now.
I look for that $2.25 minimum on ALL RUNS. Owner operator's ARE STRONGER TOGETHER!! Leave cheap freight were it sits.
Good luck…idiots are booking in hurry for posted rates.
The greatest problem is there almost no loads or loads are extremely limited.
@lifeontheroad_ agree That's a shrinking economy
Can you do a vido how b-1 drivers and 2 plates Mexican company’s are affecting the capacity and rates
Higher insurance rates only affect the smaller companies.and company with 50 or more trucks is already self insured so allthey will have to do is up the bond amount they have post now.
I just got a quote from National Indemnity for $23,000 a year, god awful amount. I drive construction season, about 6 months a year. They refused to give recognition to this fact. I can't find a 6 mo policy. How convenient.
When figured it out it came $.34 a mile just for insurance. Outragous.
@@Joe-qv6jh we are experiencing a takeover of our Nation by Corporations supported by factions of our governmenr. They will make extrem profits off working class trying to escape from having to work for the Corporations or break you sending you back to them.
War is about
Hi Miranda! Thank you for your videos, I had learned a lot from you! My question is - if things are so bad in Trucking, why don't change of Industry? Regards!
That's a valid question. I am good at what I do, and I have managed, together with my team to survive this long and quitting now would be a regret later on in my life. Plus, even at its worse, I love this industry.
Are you seeing loads that require you to bid on them rather than see a price range.?
Whats scary is when i look at the load board for my territory, Vegas, and see less loads lower cpm. Worse yet is that brokers, in the last 2 days, Thursday and Friday, are posting, almost all the loads, with absolutely no price range.
When i tried to sign up with a broker last wk we touch on load prices and he said expect to see loads at $1.80. He follwed up by saying YOU will have to bid on the loads! Wow.
My guess is the load board is now doing the same thing. ARE YOU SEEING THIS?
❤Fact is you not doom and gloom. Actually ❤you're a beautiful intelligent woman who actually gives a Damn about hardworking ppl. God bless you 🙏🏾 and thank you for your time and support 🙏🏾
The eighty’s were my lesson years. The only difference was we didn’t have the BRIC’s counties then avoiding using the US dollar. You are a smart lady and you will survive this very difficult situation. A five million dollar insurance policy will break the whole trucking industry. The major carrier might become self insured and post five million dollar bonds but this more than likely isn’t sustainable. With a change in the political landscape we might see a major turn around in the economy.
Swift says they are cutting trucks but they continue to hire like crazy. Got message last week asking for trainers (mentors) because my terminal has over 80 trainees waiting for trainers. Yet go to terminals seeing lot of drivers without loads. Been in transportation industry for 25 years (many different companies) and never seen it this bad. Very scary indeed.
I have ran a trucking company and a bus company. Bus companies are already required to have 5 million dollar policy. Because the profit margins are greater for a bus, the rates do not hurt at all. However, this could be the catalyst to eliminate capacity. This would be a boon for the mega and regional carriers.
Queen of trucking truth
I read a couple of articles that said several mega carriers stated they have reached their bottom and will not run their trucks for any less. I have only a couple points. One, mega carriers have been responsible for driving rates down for the small and single truck operations for years. Now they are reaping what they’ve sewn. Second, for the life of me I don’t understand why some think shippers are in total control of rates. They are only in a position to push rates down because the people transporting the freight allow it to happen. If the majority of trucks said no, what would happen to the freight? They could only allow it to sit for so long and it would eventually have to move. All the wiz bang AI computer algorithm rate forecasting bullsh💩 starts with the rates carriers agree to move it. Brokers consistently tell me if trucks want rates to go up, they need to stop hauling it for the rates offered. Additionally, If shippers are in complete control over rates, did they all magically agree to pay what they did a couple years ago? NOT…
It CAN get scarier, and it just might. In a down market Owner Ops need to focus like a laser on their expense line. If cutting expenses isn’t enough, then you’ll need to run-run-run until things change.
The north east is slow trucking loads are slow on dry box
8:07, Amen sister
You gotta have 10 mil insurance in the oilfield
I personally feel good things are on the horizon and rates will begin to rise as well as tender rejection rates...just a hunch but mark my words..." we are due "...
WELL, I AM NOT PUTTING MY TRUCK ON. MIGHT HAVE TO GET RID OF IF.
If you live in the Chicago area, you must vote. There's a congressman there who has been lobbied by lawyers to raise the insurance. The guy is a creep. He received thousands to try to pass this useless bill.
Timeline 1:05 - Spending by shippers decreased by 27.9% per Journal of Commerce - that is huge drop in spending, why?
They are saving money on transportation- why would they overpay in a market when they can move their freight for pennies. Its sad.
5m policy good thing it’ll drive capacity out and rpm will sky rocket haha
You think there are a bunch of lawyer billboards?Now wait until they increase that insurance requirement
We haven't seen the market like this since 2008. For all you saying we need to shut down to get things back on track, i agree. But how many will actually do this? It wont be the big companies and most others are all bark and no bite. We can do this without folks losing money. We plan a 2 day pause with drivers doing their reset at that time. If there's enough that come off the road and show up for a protest against these problems then it would work
You are right.evolve or die.i love your honesty.cant understand why the most important part of the economic eco system is treated the worst.i wish all the drivers could strike for a week.that would end this recession.
Miranda❤️❤️❤️❤️❤️❤️❤️
I do not subscribe to channels that are sunshine and rainbows when the reality is far different. A truly healthy mind is willing to face reality regardless of how good or bad that reality is. You be you and keep sharing.
Let them carry there products for what they are trying to get it done for now.just stop taking loads for cheap
The only thing that will turn the industry quickly will be a hurricane like Katrina. But even then, that will only last for a few months. The economy is going to have to turn around before things get better on a steady basis. With the FED announcing that they are not going to cut rates anytime soon, it will be at the very least Q1 of next year before things change significantly.
thw companies turning to the spot market will take out the margins. aka shrink the capacity
We all have to STOP driving for 3 weeks. Take a mcdonald's job, Walmart or whatever for 3 weeks. All of us at once and things would change
Buy your truck and trailer cash. Minimize your debt to zero. Keep your authority numbers active with some dovetail insurance and wait it out.
Too many trucks, truckers and brokers