19 Oct From the Summit – Week of 10/15/18
Summit Expedited’s newsletter featuring current market trends and other exciting news at Summit.
The U.S. faced another devastating hurricane last week, which led to evacuations and other safety precautions in the southeast while the area waited for the storm to pass. The spot market reflected this – freight in several southern states slowed to a stop as the storm approached land. Overall, spot rates decreased for all three equipment types, with reefer taking the biggest drop of six cents.
Current Heat Map
While the current spot market remains cool for the eastern half of the country, the western half is heating up. Things may seem quiet, but we are anticipating a 4th quarter surge during the holidays which will tighten capacity across the county.
As we approach the end of the year, we understand that many last minute shipments will occur. Keep in mind that the more lead time you can provide will typically give you a more competitive rate. Plan and schedule to the best of your abilities and reach out to SEL if you need any assistance!