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Josh Bouk from TriumphPay forecasts a later freight market rebound by December 2024.
A Different Outlook
Josh Bouk, TriumphPay’s chief partnership officer, offers a unique perspective on the freight market's future. Unlike others predicting a recovery in mid-2024, he anticipates it won't be until December 2024. His viewpoint is grounded in the company's extensive involvement in logistics transactions, amounting to nearly $50 billion annually.
Despite increased retail sales, 2023's market hasn't seen the expected rate rise. Brokers are advised to focus on profitability, with TriumphPay playing a key part in streamlining invoice settlements and fraud prevention.
Bouk notes the recent spike in online spending and its uncertain impact on the trucking sector. For brokers, the next year is crucial for maintaining business efficiency and managing costs effectively.
The company is preparing to unveil new partnerships that promise greater industry insight.
Source: FreightWaves
The majority of respondents to our survey believe that the freight market will rebound in the second half of 2024. What's your take? pic.twitter.com/727pyS4LRq
— Man, I Love Freight 🚛 (@freightcaviar) November 20, 2023
Plus, a carrier pleading guilty to mob money laundering while still FMCSA-active, Iran's first post-ceasefire attack and what it means for diesel surcharges, FedEx Freight's first earnings as a standalone company, and more in today's newsletter.
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Plus, C.H. Robinson's 2026 rate forecast update, Hormuz tankers still stuck, a $1M LEGO heist, and more.
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