Freight rates on the spot market posted solid gains over the past week as the number of loads available moved higher and capacity has jumped.
The freight-matching service provider DAT reports van rates posted the biggest hike among the three equipment types, Sept. 7 through Sept. 13, compared to the previous seven days. It advanced 2% to an average of $2.08 per mile, its highest level out of the last four weeks and compares to an average August rate of $2 per mile.
Reefers also had their best performance out of the past four weeks, increasing 1.7% for an average of $2.36 per mile, due in strength to harvests in the Upper Midwest, and compares to an August average of $2.28 per mile.
The average flatbed rate gained just 0.4% for a four-week high of $2.45 per mile, two cents higher than last month’s average.
The rate increases happened as load-to-truck ratios fell across the board with the biggest occurring in the flatbed sector, falling 11.5% to 31.8 loads per truck. The load-to-truck ratio for reefers declined 9.9% while the van load-to-truck ratio fell 9.5% to 3.2 loads per truck.
The numbers follow those released the day before showing spot market freight rates and volume increased during August compared to the same time in 2013, while there were declines in some parts of both when August is compared to July.