The Weekly Report brings you updated data on recruiting metrics including click, search, and spot rates, plus a new story of the week. This week’s story – A new bill looks to help fleets at U.S. ports by targeting demurrage and detention fees.
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Numbers at a Glance
|WOW: ▼ Down 7¢ per Mile|
|Spot Rates by Segment|
|WoW: Dry Van ■ Flat per Mile|
|WoW: Refrigerated ■ Flat per Mile|
|WoW: Flatbed ▼ Down 8.5¢ per Mile|
|Load Posting Volume|
|WOW: ▼ Down 1.5%|
|Load Volume by Segment|
|WoW: Dry Van ▲ Up 4.9%|
|WoW: Refrigerated ▼ Down 1.1%|
|WoW: Flatbed ▼ Down 5.5%|
|WOW: ▼ Down 4.4%|
|Truck Driver Searches|
|WOW: ▲ Up 9%|
|MoM: ▲ Up 11%|
|YoY: ▼ Down 4%|
|Clicks on Truck Driver Postings|
|WOW: ▲ Up 6%|
|MoM: ▲ Up 16%|
|YoY: ▲ Up 28%|
June 22, 2022 Driver Recruiting Insights
Would you like to have your own copy of the trucking industry data? All of the information covered in this week’s report for June 22, 2022, is available for your convenience in PDF form below. Click the image to view and download your copy of the Weekly Trucking Insight.
Weekly Report Transcript – June 22, 2022
Hello everyone and welcome to the Weekly Report. New reports debut every Wednesday morning with all of the latest driver recruiting data compiled from the previous week including search, click, and spot rates. If you’re new to the report please like, share, and subscribe so you never miss out on any of our new content.
Now let’s get to this week’s report.
THIS WEEK IN JOB BOARD SEARCHES AND CLICKS
Searches increased by 9% WoW and 11% MoM, but fell by 4% YoY. Clicks were up all the way around with gains of 6% WoW, 16% MoM, and 28% YoY.
THIS WEEK IN FREIGHT
Load volume dipped by 1.5% WoW, which represents a 25% drop when compared to 2021, but still comes in 42% higher than the five-year average for the same week. Dry van volume increased by 4.9% WoW, but both of the other major segments saw decreases.
Refrigerated dipped by 1.1% and flatbed saw a drop of 5.5% WoW. And while both refrigerated and flatbed volume dropped WoW, all three major segments remain high above the five-year average for the same week, with dry van postings coming in 36% higher, refrigerated being 53% higher, and flatbed load volume ended up notching totals of 40% higher than the five-year average for the same week.
The decreases in load availability were mainly concentrated in the Southeast and Midwest. The ratio of loads to trucks ticked up just a bit as truck availability decreased by 4.4% WoW.
Overall spot rates fell by 7¢ per mile WoW, but dry van and refrigerated rates remained basically flat. Flatbed, however, saw rates fall by 8.5¢ per mile WoW.
That 8 ½¢ drop for flatbed is the largest drop since the April 2020 contraction – aside from one week in November of last year.
STORY OF THE WEEK
The United States Congress targets trucking demurrage and detention fees at U.S. ports. Bill 369-42 passed the House on June 13th. This follows the passage of the bill by voice vote in the Senate on March 31st of this year.
The bill directs the Federal Maritime Commission to establish rules in two areas:
1 – Prohibiting Ocean carriers and marine terminal operators from adopting and applying “unjust and unreasonable” demurrage and detention fees for truckers and trucking companies.
2 – Initiating investigations of an ocean carrier’s fees or charges and applying enforcement measures when appropriate.
The American Trucking Associations’ leadership has voiced high praise for the bill. ATA President and CEO, Chris Spear says, “The bill provides important tools to address unjustified legal fees collected from American truckers”. He goes on to say, “Those fees hurt American motor carriers and consumers, helping to drive record inflation.”
And ATA’s Intermodal Motor Carrier Conference Director, Jonathan Eisen, says that the bill is “the first significant change to ocean shipping regulations in more than two decades -” and believes the actions will help by “increasing efficiency and reducing costs across the supply chain.”
And that does it for this week’s report. As always you can find a downloadable PDF version of all the information, we covered in today’s report in the description of the video on our YouTube page or in the main body of the page on our Randall Reilly site. Thanks again for joining us. We look forward to seeing you again next week. Until then, have a great week everybody.