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Rates on the spot market soared over the past week, according to new figures from the freight-matching service provider DAT. Flatbeds led the hikes gaining 4.1% June 29 through July 5, compared to the previous seven days, hitting $2.54 per mile.
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This is going to be a banner year for the logistics industry, says Rosalyn Wilson in the 25th Annual State of Logistics Report. The economy last year was not stellar and business inventories plummeted in the first period this year as a consequence of bad weather, but freight is gaining now, Wilson says in a Tuesday presentation at the National Press Club.
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Rates for spot market freight moved significantly higher over the past week following big gains over the past month, according to the freight matching service provider DAT.
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The amount of freight carried by the for-hire transportation industry rose 0.4% in April from March, increasing for the third consecutive month, according to the U.S. Department of Transportation’s Freight Transportation Services Index released Wednesday.
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California’s Department of Transportation, known as Caltrans, will host eight public workshops between June 17 and July 24 to solicit input on the draft California Freight Mobility Plan, which lays out a vision for all the ways freight is moved, including seaports, air cargo, railroads, and trucking.
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North American freight shipments and expenditures continued to buck the historic trend and increased again in May, according to the latest Cass Freight Index.
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Less-than-truckload carrier Old Dominion Freight Line on Tuesday increased its outlook for growth in second-quarter revenue per hundredweight, excluding fuel surcharges, to a range of 3% to 3.5% from the same time in 2013.
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Freight growth gives fleets confidence to buy, while low cancellations push backlogs to six months. Tankers are also up strongly, but lack of a highway bill could upset dump-trailer business.
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The increase in pier containers pushed fiscal year 2014 volumes up by 5.5% year-over-year. April's pier container volume represented a 12.3% increase over April 2013 and a 21.7% increase over April 2012.
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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%.
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