New Year, New Market: January 2025

Numbers released by the Federal Motor Carrier Safety Administration show 4,297 new trucking authorities issued, while revocations of authority totaled 4,528. This resulted in a net decrease of just 231 trucking firms.

Over the past four months, the average monthly decline has been only 327 for-hire carriers. In contrast, in 2023, the monthly average decrease was 1,755 carriers.

Forecast numbers from FTR for 2025 loadings were notably lower in the most recent update. FTR’s 2025 forecast for total truck loadings shows an increase of 1.1% year-over-year (y/y), down from a 1.7% increase in the previous release.

Slower growth in food loadings has led to reduced projections for both Dry Van and Refrigerated loadings. Dry Van is now forecasted to grow by 1.1% y/y, down from 1.7%, while Refrigerated loadings are projected to grow by 2.9%, down from the previous estimate of 3.4%.

Dry Van spot market rates rose to a 2024 high in the closing weeks of the year as normal seasonality took effect. Refrigerated rates also showed strong gains throughout the month.

Van rates ended the month 5.7% higher than at the start ($2.20/mi in week 53 vs. $2.08/mi in week 49), while Refrigerated rates were 3.9% higher ($2.61/mi in week 53 vs. $2.51/mi in week 49).

Spot rates are expected to ease in the coming weeks as the holiday season winds down.

Axle Logistics wrapped up an unforgettable year with our 2024 Christmas Party: Miami Nights! We celebrated in style, honoring an incredible year of achievements, presenting the Axle Awards, and officially marking a major milestone, hitting $1 billion in revenue and growing. None of this would be possible without the support of our amazing team, along with our incredible client and carrier partners. The future is limitless, and we’re just getting started. Cheers to 2025 and everything ahead!

As we close out 2024, we reflect on a year filled with meaningful connections and giving back.

The community means so much to us at Axle, and we’re proud to have supported and served in 106 community events throughout the year. From local partnerships to hands-on volunteering, the Axle team continues to make an impact where it matters most. Here’s to carrying this spirit of service into 2025 and beyond!

The first week of January is one of the busiest times in the logistics industry as businesses race to restock inventory after the holiday rush. This surge in activity requires efficiency, precision, and reliable partnerships to keep supply chains running smoothly.

At Axle Logistics, we’re here to help you navigate this critical time and set the pace for a successful year ahead.