One of Bestway’s most important strengths is the ability to weather storms in the freight market. And there’s quite the storm happening right now in the ground freight market.
Between the impact of international events, the Supreme Court’s recent Montgomery ruling, the $1.74-per-gallon year-over-year increase in fuel prices and the 50 percent year-over-year increase in rates on the spot market, it’s a difficult time for shippers who are trying to take an asset-direct approach to moving their freight.
Ryan Shannon, Bestway’s Head of North America Services, said these dynamics have caused some smaller and midsize carriers to leave the market.
“That’s creating a capacity crunch,” Ryan said. “In some markets we’re seeing nine available loads to one available truck. The carriers who are left are capitalizing on this. If you’ve got something to move, you’re going to pay a premium price.”
This is where Bestway’s existing contracts and connections become so important for its shipper clients.
“At Bestway, we’ve been able to neutralize this by relying on our internal carrier networks and our load volumes,” Ryan said. “We can prioritize freight and have open conversations with our carriers about the urgency of shipments. If something needs to move, we can give no-fail options.”
Because Bestway has contracted lanes for repeated shipments, it is in a stronger position to work with carriers to get terms and outcomes that meet customer needs without having to pay a premium that reflects the momentary state of the ground freight market.
Of course, Bestway keeps every option on the table, including the use of the spot market if it’s the best option to meet a customer’s need. Sometimes a carrier that is new to Bestway and new to the client is willing to go to a certain area, and the Bestway team can work out a rate that is amenable for everyone. Carriers see the advantages of becoming part of the Bestway network, so they are often eager to prioritize forming a strong relationship.
“This is why we can weather these storms,” Ryan said. “We understand and are willing to have conversations with people. It’s easy to send over a quote request, but a quote request doesn’t tell the whole story. A conversation tells us what we’re up against. It might be a shipment of dry goods to a retailer, or widgets to a production line that can’t function without it. So the cost of the shipment not getting there outweighs the cost of moving it. These are the kinds of details we always work to understand.”
At a time like this in the market, the safest and best bet is to work with someone who has existing carrier relationships and commitments, which transcend the market spikes of the moment, and add the value of trust and understanding for each load and each situation.
That’s exactly what shippers can count on right now with Bestway.
“Our expertise and market knowledge are going to treat every opportunity as unique, and if we see any red flags come up, we’re going to bring that to your attention right way,” Ryan said. “Our team has a customer-first mindset, and preparing you for potential roadblocks is at the cornerstone of what we do on a daily basis.”
And there’s never been a better time to take advantage of all this.
