Overdrive Magazine

October 2019

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October 2019 | Overdrive | 25 Trucking currently isn't benefitting from the market imbalance that caused spot market rates to climb to record highs last year, but freight demand remains historically strong, according to speakers last month at FTR's annual Transportation Conference in Indianapolis. "It feels like a cliff," said FTR CEO Eric Starks, but the freight market is simply "in a holding pattern," he said. Combined with an loosening in trucking capacity, spot market rates have moved sharply downward over the past year. In recent months, they've trended below the five-year average, said Avery Vise, vice presi- dent of trucking for FTR. But contract rates, under which roughly 75 percent of freight is moved, have been stable. They didn't soar like spot market rates, but they also were insulated from the cyclical swing downward. • Go online to www.iowa80.com and request your FREE CATALOG of the finest selection in Chrome and Professional Trucking Accessories! • Or Call Toll Free – 866-4-IOWA80 (866-446-9280) • Shop online today! www.iowa80.com Truck Accessories For The Professional Driver Tr Tr T u ru r ck Accessori ri r e ie i s Fo Fo F r Th Th T e Pr Pr P o ro r fe fe f ssio io i nal Dri ri r ve ve v r OD 2019 • w a F t C P A • 8 (8 • Sh GET YOUR FREE CATALOG! IA80com OD 091619.qxp_Layout 1 9/16/19 9:48 AM Page 1 Uber Freight expands its trailer program Uber Freight announced that its trailer-pooling program Powerloop is now available in California. It's effectively a trailer leasing program, allowing small carriers and owner- operators access to preloaded trailers in the Powerloop network. Trailer rentals cost $25 a day. The company also announced it will be rolling out a new Bundles program that will allow Uber Freight users to book multiple loads along the same route and have access to backhauls in order to maximize trip efficiency. Analysts: Trucking's actually stable Ryder opens truck sharing in Orlando Ryder announced that its peer-to- peer truck-sharing platform, COOP, is now available around Orlando, Florida. The platform allows truck owners to generate extra revenue by renting idle or unused equipment to businesses. Launched in 2018, the platform is currently available in all of Georgia and in parts of Florida. Truck owners can list their vehicles on the digital platform, set vehicle availability for idle periods and, upon vehicle return, receive guaranteed payments from Ryder. Each transac- tion is covered by insurance.

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