Spot Freight Turns Around in Early July Following Disappointing June
July 10, 2013
DAT reports from June 30 through July 6 the average rate for van and flatbeds moved 3.2% higher, compared to the previous seven days, with vans averaging $1.93 per mile and flatbeds coming in at $2.23 per mile. Reefers also posted a gain, picking up 1.3%, for an average of $2.30 per mile.
Van rates rose on the spot market in Chicago and three Southeastern hubs, but other cities had mixed results, according to DAT. It attributes the gain in flatbeds to due to ongoing construction projects and an uptick in manufacturing activity. Reefer rates increased largely to short-haul deliveries before and after the July 4 holiday.
The increases came as total spot market loads fell 22% and truck capacity declined by nearly as much.
The van load-to-truck ratio increased 0.5%, flatbed load-to-truck fell by 11%, while the reefer load-to truck ratio improved 1.3%
This follows news from earlier this week that while June freight levels improved from May, they were nowhere near as good as they were compared to June of 2012, with improvements for July expected.