Loads Down, Capacity Up in Spot Market
As the West Coast continues to grapple with the effects from the bankruptcy of Hanjin Shipping, nationally the number of loads fell 5% during the week ending Sept. 24 while capacity was up 3%.
Those conditions, according to DAT Solutions helped send average van and refrigerated load-to-truck ratios down 10% last week: vans to 2.8 and reefers to 5.5. The flatbed load-to-truck ratio was 13.2, unchanged from the previous week.
The ratios are back on par with August levels but spot truckload rates didn’t move much:
– Vans: Unchanged at $1.64/mile
– Reefers: Unchanged at $1.91/mile
– Flatbeds: Down 1 cent for an average of $1.88/mile
Los Angeles jumped to the No. 2 spot for the market with the most available outbound loads (behind Chicago). Spot van freight volume and rates surged there last week ($2.01/mile, up 2 cents). Los Angeles-Phoenix, up 4 cents to $2.61/mile, was the highest outbound rate, but rates on eastbound, long-haul lanes market made greater gains compared to the previous week.
KEY LANES
Several van lanes showed strength last week while two Los Angeles-inbound lanes created opportunities for carriers looking to position trucks in that market:
* Columbus-Buffalo, $2.75/mile, up 6 cents
* Atlanta-Lakeland, Fla., $2.37/mile, unchanged
* Philadelphia-Boston, $3.15/mile, down 3 cents
* Chicago-Los Angeles, $1.29/mile, up 9 cents
* Dallas-Los Angeles, $1.08/mile, up 2 cents
Spot reefer prices were higher in the Los Angeles market, where the average outbound rate was up a penny to $2.36/mile. The highest-paying reefer lane in the West was Ontario, Calif.-Phoenix, up 2 cents to $2.90/mile.
Category: Featured
Subscribe
If you enjoyed this article, subscribe to receive more just like it.
