Translogistics Blog

Dry Van Spot Rates Increase; Updates to LTL Freight Claim Processes

September 14, 2021

Written By: Mitch Kinek

TLI's Weekly State of Transportation Update

Week of September 13, 2021

 

 

Truckload spot market rates have been increasing while new COVID 19 policies may be affecting shipper's LTL claims.

 

Less-Than-Truckload:

During 2020, LTL carriers implemented a rule to allow receivers to accept freight without a signature. This new policy may affect your freight claims. As freight claims are on the rise due to higher volumes, TLI wanted to remind you that you should still be notating the damage on the BOL. Forgoing a receiving signature on an LTL shipment may be considered acknowledgement that the freight delivered in good condition. As a reminder, it is vital for any concealed damage to be reported within five business days for the best probability of a carrier making settlement on the claim. For more information, please contact your TLI sales rep/account manager.

 

LTL carriers continue working through capacity issues on a terminal, shipment, and day-to-day basis. Weekly updates/directions are given by carriers to help alleviate their terminal which may include: freight embargos, dimension/quantity restrictions, and transit delays. TLI is actively monitoring these situations and will update any affected customer with solutions.

 

Truckload:

According to DAT, Dry Van equipment in the spot market has gone above the $2.50/mile national average mark for the first time. The spot market has been sporadic and out of the normal seasonality all 2021 due to COVID-19 disrupting the industry in 2020. As we head into the holiday season, be prepared to see rates continue in this direction.

 

International:

Ports across the nation have been backed up with no current sign of easing up. U.S. imports from China have been gearing up ahead of the holiday-season. Cost-per-container has risen to records high above $20,000 per container from U.S. to China. Some factors that have caused recent spikes are shutdowns from COVID 19-Delta variant and typhoons affecting the coast of China.

 

Ports on the East, West, and Gulf coasts are still experiencing back ups. Check out this video from 8/15.

 

TLI is actively monitoring situations in the industry, such as acquisitions, embargos, and other industry disruptions. If a TLI client is directly affected by any of these events, your TLI representatives will reach out to discuss what this means for your account.

 

TLI highly suggests that on all shipments you provide our team with the “Must Arrive by Date” (MABD) as to when you need the product delivered. This will help us select the proper transit time / equipment type at the best current freight rate.

 

Please contact your Translogistics team at 610-280-3210 for any further questions. 

 

*article written by Mitchell Kinek, Inside Sales Executive, Translogistics. Any questions, please do not hesitate to reach out!

 

Translogistics' Industry Chart of the Week

Chart-9-8-21


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For the latest insights, tips and commentary surrounding the logistics industry, look no further.  Shippers will find thoughts from the award-winning team at Translogistics covering everything related to your transportation processes and plans.  If you have a question we are readily available at insidesales@tli.email 

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Scott Joseph McDevitt II, MBA, CTB