Owner-operators Rico Muhammad and Chad Boblett share Tortoise-and-Hare approaches to using data toward commanding better rates.
Trucking employment in the for-hire trucking industry saw a healthy jump in September, gaining 3,800 jobs from the month prior, according to the Labor Department's monthly report. Trucking’s gains were in line with the economy as a whole, which added 248,000 non-farm jobs in the month and the country’s unemployment rate fell to 5.9 percent — the lowest since July 2008.
Meet Villa Rica, Ga.-based Jeff Ward and his Brady's Hotshot Hauling business, with a 2012 Ford F350 outfitted with a Cadet flatbed body, gooseneck hitch and 30-ft. P.J. trailer.
What has emerged through the years is the ability for owner-operators to quickly and accurately pinpoint the markets where they’re in high demand, even before arriving.
Per-mile rates on the spot market fell in September in both dry van and flatbed segments, but reefer saw a small uptick. Rates in all three segments remain well above the same month last year.
Higher than typical volumes on the spot market coupled with tight trucking capacity are improving the rate landscape. Independents: Identify high-demand freight situations and negotiate for top dollar.
A rule proposal to increase the minimum amount of liability insurance carriers must have has been sent to the White House’s Office of Management and Budget — the final stop before the rule is published.
One insurance rep cites a likely 25 percent increase in premiums for independent owner-operators boosting $1 million liability coverage to $2M. More on FMCSA's expected insurance-hike proposal here.
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