Spot Freight Stuck in Neutral

The availability of truckload freight on the spot market remained in a lull during the week ending July 18, reports DAT Solutions.

The average rate for vans dropped 2 cents to $1.85 per mile last week as van load availability fell 15%. The van load-to-truck ratio slid to 1.7 loads per truck, meaning there were 1.7 available van loads for every truck posted on the DAT network—a 16% decline.

Available van capacity was stable (up 1.4%). Average spot van rates were down 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.

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 2-cent 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. The national average flatbed rate dipped 1 cent to $2.15 per mile. All reported rates include fuel surcharges; the national average price of diesel declined 3 cents to $2.78 last week.

Category: Featured, General Update