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What exactly is the intermodal drayage spot market?

When we talk about the spot market, we’re referring to freight that is not part of a consistent lane, but is still in need of drayage capacity. This is freight that does not have a locked-in price and has flexibility outside of the normal contracted lane. Depending on market conditions, the spot market can be a good tool for intermodal marketing companies (IMCs) to get pricing on intermodal freight that is less than what an awarded price might look like.

DrayNow’s freight technology allows you, the customer, to leverage the spot market for your intermodal freight. From your account on our platform, you can post loads that will immediately become available on the spot marketplace. We’re offering best-in-class drayage capacity in all intermodal markets across the country.

Our mobile app has thousands of carriers signed up nationwide, and our team works actively to engage capacity for every load on the marketplace. Since intermodal loads are relatively local, there is more opportunity to get same-day coverage for freight that your typical drayage carrier can no longer run. Once a carrier has picked up your freight, they will have all of the load information at their disposal to run the load without you needing to get in touch with them.

DrayNow has tools at your disposal which add context to the intermodal spot market and can better inform you on how spot rates have been trending. Our monthly intermodal spot rate updates provide trend analysis for the key intermodal markets of Chicago, Atlanta, and Los Angeles. When spot rates are trending down month-over-month, that will signal that this is a great time to utilize the spot market for your freight.

There is also the DrayNow 53’ Domestic Rail Intermodal Drayage Volatility Index, which gives customers an idea of how intermodal drayage rates are shaping up in the present day compared to the same period in the prior year.

The great thing about spot freight is that while a particular lane is not consistent at the moment, customers satisfied with the drayage service provided can always contact us to get a contracted lane set up. With dedicated freight will come dedicated capacity. All of the same DrayNow technology that is available for spot freight is also available for contracted loads.

Overall, the key to getting the most out of the intermodal spot market is to stay agile and diversify your drayage service with a technology platform like DrayNow. Get in touch with us using the form below to get set up with an account.