Most contracts read like this: “we’ll give the carrier x lots per year (maybe) and the carrier will accept some of them if they feel like it.” Sounds like a great basis for a partnership. So, what is happening:
- Ocean carriers are refusing contract loads and doing spot loads for others (Source NY Times).
- Some truck carriers have been caught refusing a contract load and then showing up at the spot rate (Source client data).
Contracts are a sham.
What is the problem here? Class 8 truck sales down 28% from March and 56% from April last year (Source FTR). Is it because truck manufacturers can’t make enough, or carriers aren’t in a buying mood?
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