Uber Freight introduced a spot freight fulfillment platform to expand beyond its flagship contract procurement tool launched last year, the company announced May 16.

The spot market is struggling to rebalance as the rate of carriers exiting has slowed despite sluggish demand.

The trucking spot market has remained in a down cycle for more than a year as the number of trucks and drivers diminished — albeit at a slower rate than the decline in overall freight demand.

The second quarter of 2023 has revealed a potentially bleaker outlook for the freight market, almost reaching numbers of the freight recession witnessed in 2019. Discover the secrets behind success as we explore how freight brokers should navigate the uncertainty of a down market.

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The spot market has become stuck in a stagnant bottom with market patterns preventing it from building back momentum.

A surge in spot market rates that led some truck drivers to leave fleet jobs and go into business for themselves has cooled off, bringing with it a downturn in the number of drivers striking out on their own, industry data shows.

The rise in fuel prices is slowing a decline in spot rates while also potentially suppressing base revenue for some carriers, experts said.

Spot freight volumes fell Thanksgiving week, but they have more than recovered.

Technological solutions are increasingly helping shippers and carriers manage a boisterous business climate in which spot freight plays a prominent role.