Spot Market Reefer Rates Continue Increasing; Vans, Flatbeds Unchanged
May 22, 2014
The amount of freight available on the spot market has jumped but rates have moved barely higher, if at all for some cargo.
The freight matching service provider DAT reports the total number of loads available increased 7.5% May 11 through May 17, compared to the previous seven days, while truck capacity grew 1.5%.
This led to average rates for van and flatbeds being unchanged from the week before, at $1.96 and $2.35 per mile, respectively. Flatbeds are holding at their April average, which is 2.2% higher than from March.
Reefer rates increased an average of 0.9% during the same time to $2.31 per mile, its best showing out of the last four weeks, as demand for shipping produce continues growing.
This happened as the van-to-truck ratio for reefers gained the most of the three sectors, picking up 16%, while the ratio increased 13% for vans. It fell 5.9% for flatbeds.
Writing early this month in the DAT Freight Talk Blog, Analyst Mark Montague noted reefer rates in Florida have been soaring due to so much produce being available, while van freight there is “equally plentiful.”