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May 26, 2020

Industry Update - May 26, 2020

Industry Update - May 26, 2020

By Aldous Aldwin

Load Volumes are Up by 7 Percent

Load volumes are up 7% versus last year even as import volumes are down. Traditional produce markets in the Southwest have contributed to the largest monthly changes in volumes (Tucson, Phoenix). The rapidly improving consumer spending data is also playing a role in this growth. The reopening of most states is unleashing the pent-up demand from Americans who have grown tired of being on house arrest.    

Availability

Truck Availability Falls 17 Percent

The availability of trucks on the spot market dropped 17.5% even if spot freight volumes on major lanes continued to grow last week., This is a probable sign that capacity is shifting to the contract market as industries open up.

Pricing power remains with brokers and shippers.

Here are the national average spot rates through the week:
  • Van: $1.55 per mile, 8 cents lower than the April average
  • Flatbed: $1.86 per mile, 8 cents lower than April
  • Reefer: $1.97 per mile, 4 cents higher than April

   Amazon

Amazon Invests $4 Billion to Keep Employees Safe

In a Youtube video posted by Amazon, it revealed to have allocated $4 Billion on COVID-related initiatives to get products to customers and keep employees safe. Here’s a breakdown of their initiatives.
  • Shipped 100 million masks to employees and partners
  • To deliver 6 million meals
Watch the full video below.