Truckers have “upper hand” in rate negotiations: ACT
COLUBMUS, Ind. – ACT Research has indicated its For-Hire Trucking Index rose faster than capacity for the 11th straight month, and the expectation is that contract rates for truckers will continue to improve.
“The wide spread between freight and capacity additions bodes well for continued strength in freight rates into the new year,” said Kenny Vieth, ACT Research’s president and senior analyst. “Clearly, truckers are entering 2018 with an upper hand in negotiations with shippers.”
When survey respondents were asked what their expectations for 2018 contract rate increases were, the average was 7%. “Contract rates will continue to receive upward pressure as capacity tightens and adjustments are made to ELD mandates,” said one fleet executive. “Expected increases of 5-10% are anticipated, with greater increases experienced in spot market situations.”
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