What is happening: DAT Solutions have predicted a far more stable 2019 for the trucking market, following the boom that was 2018.
2018: Last year was dominated by a huge capacity crunch in the trucking market, with record sales and added capacity. This came largely from the ELD mandate, an economic output boom, global natural disasters, and tariffs.
Spot rates: DAT expect spot rates to peak in June in 2019. This would mark a return to normal.
What did DAT Solutions say: “In 2018, fleets bought record numbers of trucks and made operations driver-friendly, adding capacity and market share that will serve them well in 2019.”
What did editor of DAT carrier news, Matt Sullivan say about added capacity and falling spot rates: “That’s a trend we expect to carry over into 2019, with shippers paying a 3-5% increase on for-hire trucking contracts in order to secure capacity.
“In many ways 2014 set the seasonal patterns that we saw repeat every year up until 2018, with a Q1 dip followed by a strong Q2 rebound. Our projections show the same trend for 2019. However, the uncertainty around trade agreements and tariffs makes volumes in and out of the ports a big unknown at the moment.”