Spot Freight Availability Up 12%, Pricing May Soften

In a potentially softening sign for pricing, freight availability on the spot truckload market jumped 12% while available capacity was unchanged (-0.1%) during the week ending March 28, according to DAT Solutions.

Combined with recent news about dropping container imports and exports, signals about the economic recovery may be mixed.

Nationally, the average van and refrigerated spot market rates were unchanged at $1.94 and $2.15 per mile respectively, while the average flatbed rate gained a penny to $2.19 per mile. Van rates out of Los Angeles added another 1 cent last week to $2.10 per mile with container traffic flowing more steadily through Southern California ports.

The national average reefer rate picked up 2 cents to $2.56 per mile as the month and quarter draw to a close. In terms of specifics, flatbed markets remain strong, with load availability up 13% during the week. Capacity fell 7.3%, pushing the flatbed load-to-truck ratio up 21% from 16.4 to 19.9 loads per truck.

Demand for reefers was unchanged (up 0.3%) as reefer capacity tightened 3.9%. The reefer load-to-truck ratio rose 4.4% from 7.8 to 8.2 loads per truck. Van freight availability surged 19% and capacity added 2.8%; the two metrics usually move in opposite directions. The national average van load-to-truck ratio increased 16% from 2.9 to 3.4 loads per truck.

Category: Featured, General Update