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Truckload linehaul and intermodal rates are continuing their declines despite some slight improvements, according to two new reports.
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Fallout from Hurricane Matthew and the Hanjin Shipping bankruptcy helped push spot market rates higher over the past week, according to the freight matching service provider DAT Solutions, while a separate report shows rates in September were mixed when compared to the previous month and a year ago.
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As the West Coast feels ripple effects from the bankruptcy of Hanjin Shipping Co., nationally the number of loads on the spot truckload freight market fell 5% during the week ending Sept. 24 compared to the week before as truck capacity increased 3%, according to DAT Solutions, its network of load boards.
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Truckstop.com has announced the release of Rate Analysis, a rate platform that allows customers to use market data and their rate history to make quick and data-driven decisions on their shipping rates.
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The number of loads on the DAT network of load boards gained 20% during the week ending Sept. 17 compared to the week before and the number of trucks added 19% as the spot market rebounded during the first full week after the Labor Day holiday but it barely translated into higher rates.
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Forward Air Corp. has become the latest trucking operation to lower expectations ahead of releasing its next earnings report.
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Measures of both truckload and intermodal rates posted another rounds of declines, according to new figures released by freight payment processor Cass Information Systems.
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Spot truckload freight rates saw more declines than improvements in both new weekly and monthly figures released by DAT Solutions.
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The spot truckload market finished August on a higher note as rates and the number of available loads moved higher during the week ending Sept. 3, according to DAT Solutions and its network of load boards.
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The number of available loads on the spot freight market moved higher during the most recent week as truck capacity was unchanged, but it wasn’t enough to push average rates up, according to DAT Solutions and its network of load boards.
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