Spot Market Rates and Freight Weaken
October 30, 2013
The past week has been anything but stellar for those wanting to haul freight from the spot market.
New figures from the freight matching service provider, DAT, show spot market load availability fell 5.7% Oct. 20 through 26, compared to the previous seven days. This is likely due to a more than 7.5% increase in spot market truck capacity.
During this time freight rates and load-to-truck ratios either fell or were unchanged with rates for vans remaining at an average of $1.86 per mile while the van load-to-truck ratio fell 13%. On the brighter side DAT says the average freight rate is on par with September and 7 cents higher than October 2012.
Three weeks ago the total van rate, consisting of the line haul rate and fuel surcharge, stood at $1.92 per mile.
Things were slightly worse in the flatbed sector, with rates declining 0.5% for an average of $2.10 per mile. DAT notes but the loss came from a 1-cent drop in the fuel surcharge while the line haul rate held steady at $1.58 per mile.
Three weeks ago the total flatbed rate was at $2.22 per mile. The flatbed load-to-truck ratio fell 13% over the past week.
As for reefer rates they are down 1% over the past week for an average of $2.06 per mile. The line haul rate dropped 1-cent to $1.57 per mile while the fuel surcharge also fell 1-cent, according to DAT.
Three weeks ago the total reefer rate was at $2.15. The reefer load-to-truck ratio declined 11% over the past week.