Spot Load Availability Falls 5.6%, Rates Lose Traction

Spot-market load availability fell 5.6% during the week ending Feb. 6, with the number of van and refrigerated loads dropping 17% and 12%, respectively, according to DAT Solutions.

The combination of fewer posted loads and 2.5% more capacity helped hold rates down compared to the previous week. Declining fuel prices also played a role: diesel prices fell 3 cents to a national average of just under $2.01 per gallon, an 11-year low. Freight brokers usually quote a one-time rate that includes both the line-haul rate and the fuel surcharge.

The national average van rate edged down 3 cents to $1.62 per mile, while the reefer rate fell 3 cents to $1.85 per mile. The average flatbed rate was unchanged at $1.85 per mile compared to the previous week.

Van load posts declined 14% while available capacity increased 4%, which sent the van load-to-truck ratio down 17%. The decrease from 1.7 to 1.4 loads per truck means there were 1.4 van loads for every van posted on the DAT network. In the reefer market, there were 11% fewer loads while truck posts added 1%. The load-to-truck ratio declined 12% from 3.8 to 3.4 loads per truck.

The spot flatbed freight market found some traction, with load volume up 6% against a 1% increase in capacity. That yielded a 6% increase in the flatbed load-to-truck ratio, from 8.3 to 8.7 loads per truck.

Category: Featured, General Update