No wonder freight rates are down
#11
BANNED
Senior Board Member
Join Date: Nov 2006
Posts: 801
There are couple of reasons why rates are down currently and one of the big ones, in the dry van buisiness atleast is CA freeze that trashed about a billion dollars of citrus and left reefers pretty much stuck with only option to load is to haul dry freight out, rates got hit badly and will be down untill new stuff grows, lettuce or whatnot...
Other is Real Estate market which is draggin as as we speak but is expectet to stabilize over the next few months. freight was down 1.7% in feb. of this year compared to the FEB of last year.... Texas is one more reason as it fell of the map in the last six months and brokers in CA tell me that there is an issue with ports thats stopping some freight to get inland, i dont really know the detail but have heard it even from Churchil.. Was listening to Bloomberg radio this morning and the projections for economic growth look weak in the first two quarters with other two looking promising so from july and up we should see freight rates moving steady which is no new to me as from about July thru Dec. i do my best work.......
#12
Originally Posted by BanditsCousin
HHG is projected to be a so/so year with housing slowing down and economic conditions :cry:
But I run for an agent with a lot of accounts, so hopefully bandit will survive :lol: |
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