Spot Rates for Van, Reefer Freight Up Big
Spot rates hit multi-year highs during the week ending Oct. 7, reported DAT Solutions.
The number of available loads fell 3% after the close of the quarter but generally tight capacity kept spot load-to-truck ratios elevated:
– Van: 6.7 available loads per truck
– Flatbed: 46.7 loads per truck
– Refrigerated: 12.4 loads per truck
National average spot rates jumped significantly compared to the previous week:
– Van: $2.09/mile, up 12 cents
– Flatbed: $2.31/mile, up 4 cents
– Reefer: $2.37/mile, up 14 cents
The market for van freight remains solid despite a 6% decline in volume and 1% increase in truck posts last week. In Seattle and the Pacific Northwest, higher reefer load counts in the region contributed to tighter van capacity, meaning that fewer reefer trucks were competing for van loads. Rerouted port traffic from Houston to Seattle after Hurricane Harvey may have added to demand for trucks in the area.
In the spot reefer market, both load posts and truck posts were unchanged from the previous week. The national average reefer rate moved 14 cents higher due to seasonal demand and relief efforts following Hurricanes Irma and Harvey. The number of flatbed load posts dipped 1% and truck posts increased 6%, with rebuilding efforts in Florida and the Gulf Coast driving demand for flatbed capacity.
Category: Featured, General Update, News
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