Truckstop and Bloomberg Intelligence Survey Reveals Broker Optimism for Rising Spot Rates and Increased Demand

BOISE, Idaho, Jan. 29, 2025 /PRNewswire/ -- 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," said 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."

The Bloomberg | Truckstop second half 2024 Broker survey shows:

• Brokerage volume having some relief: 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.
• Spot rates could edge higher this year: 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.
• Margins may expand: 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.

"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," said Kendra Tucker, chief executive officer, 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."

The Bloomberg | Truckstop survey of freight brokers provides timely channel checks into the market's health. The most recent sample size was 159, consisting of freight forwarders, third-party logistics providers and broker agents, as well as asset and non-asset-based brokers. Most respondents (64%) have 1-50 employees. Of those surveyed, non-asset-based brokers made up the biggest group (30%), followed by third-party logistic providers (26%) and broker agents (23%).

The complete survey is available to Bloomberg Terminal subscribers via BI. 

About Truckstop
Truckstop is a trusted partner for carriers, brokers, and shippers, empowering the freight community through a platform of innovative solutions for the entire freight lifecycle to help increase efficiency, automate processes, and accelerate growth. As one of the industry's largest neutral freight marketplaces, Truckstop provides the customer service as well as scale of quality loads and trucks to give customers of all sizes, whether on the road or in the office, the transparency and freedom to build lasting relationships and grow their businesses. To learn how Truckstop is helping move the freight community forward, visit https://truckstop.com.

About Bloomberg Intelligence
Bloomberg Intelligence (BI) research delivers an independent perspective providing interactive data and investment research on over 2,000 companies, 135 industries and all global markets. Our team of 400 research professionals help our clients make decisions with confidence in the rapidly moving investment landscape. BI analysis is backed by live, transparent data from Bloomberg and 500 third-party data contributors that clients can use to refine and support their ideas. Bloomberg Intelligence is available exclusively on the Bloomberg Terminal and the Bloomberg Professional App. Visit us at https://www.bloomberg.com/professional/product/bloomberg-intelligence/ or request a demo.

SOURCE Internet Truckstop Group, LLC