Urgency to move freight before the end of the second quarter and ahead of the Fourth of July holiday helped propel the national average spot van rate to $2.32 per mile during the week ending June 30.
National average spot market truckload rates moved slightly higher on the DAT Solutions network of load boards last week as both the number of posted loads and trucks also rose, amid signs of tighter capacity.
While the number of spot market loads on the DAT network of load boards fell last week along with truck posts, rates changed little.
With a steadily improving economy and sectors such as manufacturing and construction going strong, many trucking companies are finding they have more freight than they have trucks to haul – but nowhere is that more true than in the flatbed sector.
FTR’s Trucking Conditions Index for March fell more than five points from the previous month’s record high. But it remains indicative of a favorable environment for carriers.
Although the April 1 start to “hard enforcement” of the electronic logging device mandate does not seem to have had a huge effect on trucking capacity (except perhaps in flatbeds), there are a number of other factors that are working to keep capacity tight and rates high, likely at least until late this year, according to FTR.
Trailer orders topped 30,000 in March, besting an earlier estimate of 29,500 orders, showing that fleets are still investing in new equipment, according to ACT Research.
FTR’s Trucking Conditions Index for February hit its highest reading ever, reflecting an unmatched positive environment for carriers.
Early reports from FTR on trailer order activity for March show that while orders declined by 16% from the month before, they remain historically strong.
The number of loads on the spot truckload freight market jumped 3.6% during the week ending March 24 while truck capacity increased 1.3%, according to DAT Solutions.