Spot Freight Rates Down, Vans Below $2 for First Time Since May
Rates on the spot market continue moving lower while truckload capacity jumped, the first indication of a more typical slow, winter freight season, according to the freight matching service provider DAT Solutions.
Rates on the spot market continue moving lower while truckload capacity jumped, the first indication of a more typical slow, winter freight season, according to the freight matching service provider DAT Solutions.
Reefers posted the biggest decline, 2.6%, Jan. 11 through Jan. 17, compared to the previous seven days. It registered an average of $2.29 per mile, its second straight weekly drop. Most of this was due to a decline in the line haul portion of the rate.
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Flatbeds gave up 1.7% for an average of $2.25 per mile, also its second consecutive weekly decline, while vans fell 1.5% for an average of $1.98 per mile, the first time it has been below the $2 level since May.
Leading to the rate declines was a 24% increase in spot market truck capacity while the number of available loads to haul fell 1% during the period.
This resulted in lower load-to-truck ratios in all three sectors. Reefers declined 24% to 10.1 loads per truck while vans fell 20% to 3.1 loads per truck, the latter still relatively strong for this time of the year, according to DAT. Flatbeds dropped 17% to 13.7 loads per truck.
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