Brokers Express Optimism as Spot Rates Improve

Demand appears to have rebounded for freight brokers in the second half of 2024, with 55% of respondents noting that load volume rose year over year.

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The Bloomberg | Truckstop semi-annual freight broker survey shows brokers are optimistic about this year as demand and spot rates improved significantly in the second half of 2024.

 

“Most brokers believe demand, rates and margins are poised to keep getting better,” says Lee Klaskow, senior freight transportation and logistics analyst at Bloomberg Intelligence. “They also anticipate that the new administration could drive load growth, while higher rates and technological advancements may continue to support margin expansion.”

 

“Brokers are showing growing optimism for the year ahead, with our latest survey revealing that 52% of brokerages plan to expand their teams and 89% feel better equipped to combat fraud,” says Kendra Tucker, CEO, Truckstop. “Truckstop is committed to delivering solutions that empower brokers to work with speed and confidence, helping them streamline operations, fight fraud and increase profitability.”

Key takeaways:

  • Demand appears to have rebounded for freight brokers in the second half of 2024, with 55% of respondents noting that load volume rose year over year, 26 percentage points better than in the first half of 2024. That’s led brokers to be more optimistic about load volume in 2025, with 77% expecting it to be up in the next 3-6 months, 28 percentage points more than in the first half of 2024.
  • Freight brokers are more optimistic about spot rates with 52% of survey respondents expecting them to rise in the next 3-6 months, an 18-percentage point hike from the first half of 2024. Market conditions are still tightening, with Truckstop’s Market Demand Index up 28% on average in 4Q24 from 4Q23.
  • Brokers’ gross margins had a reprieve in the second half of 2024, with around 31% of respondents noting margin expansion – 7 percentage points better than the first half of 2024– which is set to extend in 2025. About 67% expect margins to improve in the next six months, 30 percentage points better than the prior survey.

 

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