Spot Market Freight Rates Decline Over the Past Week
April 24, 2013
Rates on one of the nation’s biggest spot freight markets took an across the board decline last week while load volume barely edged higher.
The latest DAT Transcore Trendlines show freight volume increased 0.1% April 14 through 20, compared to April 7 through 13.
Rates for vans fell 1.1% to an average of $1.78 per mile. DAT says the best lanes in this sector are in the Northeast, specifically into Philadelphia. Columbus, Charlotte and Chicago all have rates above the $2.30 per mile mark moving into the hub, “likely a result of both poor conditions for trucks in the area and the high operational costs associated with travel in the Northeast.”
Flatbed freight rates declined 0.5% to $2.14 per mile.
Reefer rates saw the biggest decline, tumbling 2.4% to $2.02 per mile, with the best lanes being Fresno to Salt Lake City paying $2.74 per mile, Atlanta to Lakeland was at $2.72 per mile, and is trending up. Also Green Bay to Philadelphia paid $2.54 per mile, with Atlanta to Philadelphia just behind at $2.53.
This follows news earlier this week that spot market freight rates last month were higher in all three categories compared to February and freight volume in the first quarter of the year was better when compared to the same time in 2012 as well as the final three months of last year.