The availability of truckload freight on the spot market hit a lull during the week ending July 18 compared to the previous week, leading to a decline in rates and load-to-truck ratios in all three equipment types, according to DAT Solutions, which operates the DAT network of load boards.
The availability of truckload freight on the spot market hit a lull during the week ending July 18 compared to the previous week, leading to a decline in rates and load-to-truck ratios in all three equipment types, according to DAT Solutions, which operates the DAT network of load boards.
The average rate for vans dropped 1.1% to $1.85 per mile last week as van load availability fell 15%. The van load-to-truck ratio slid, resulting in 1.7 available van loads for every truck posted on the DAT network, a 16% decline. Available van capacity increased a slight 1.4%.
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Average outbound spot van rates declined in key markets across much of the country, including Los Angeles, where the average outbound rate fell 3 cents to $2.32 per mile; Atlanta, down 6 cents to $1.92; Charlotte, down 5 cents to $2.28; Philadelphia, down 2 cents to $1.74; and Houston, down 2 cents to $1.63.
Meantime, the volume of refrigerated load posts fell 20% last week and while truck posts increased 1.3%, yielding a 21% decline in the national average reefer load-to-truck ratio. The ratio of 3.9 loads per truck was accompanied by a near 1% drop in the average reefer rate, which slipped to $2.17 per mile.
The number of flatbed load posts decreased 10.7% while truck posts increased 9.3%, pushing the load-to-truck ratio down 18% to 11.6 flatbed loads per truck. All this caused the national average flatbed rate to dip 0.5% to $2.15 per mile.
All reported rates include fuel surcharges as the national average price of diesel declined 3 cents to $2.78 last week.
The drop in spot freight rates is not that surprising for this time of the year, according to DAT Analyst Mark Montague, but the causes of it are a bit of mystery. The good news, he said, is that July will soon be over with the retail freight season soon the way, which should lead to better rates.
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You can read more about this in his blog on the DAT website,
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