Nationwide demand for trucks has fallen in the last week. Demand and rates for both dry van and reefer capacity have fallen in the month of January, as well. However, demand and rates for both dry van and reefer still favor carriers and are high for this time of year. Today’s Trucker Tools Market Index Report shows that the reefer market in Tucson, Ariz., remains extremely favorable for truckers. You’ll also see in today’s report that two major freight hubs in California, Stockton and Los Angeles, are among the markets where rates and demands are projected to be low in the coming week for truckers.
Trucker Tools has partnered with FreightWaves to give you additional insights into market trends across the country in the coming week. Today’s FreightWaves SONAR Daily Watch looks at the effects that the upcoming Chinese New Year, COVID-19 outbreaks and the current bottleneck of container ships on the West Coast may have on freight volumes and movement this week. There are currently billions of dollars of freight on container ships off Long Beach and Los Angeles that are waiting to be unloaded. At the same time, COVID-19 outbreaks are increasing in the area, which may cause these ports to have to shut down at some point. The Chinese New Year begins on Feb. 12. In previous years, there’s a been a slowdown of Chinese imports in the two to three weeks leading up to the holiday, but whether that will happen in 2021 remains to be seen.
To get more info on where rates will rise and fall in the coming week, read Hot Markets for Truckers and Carriers: Duluth, Chicago, Buffalo and Cheyenne.
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