Spot Truckload Rates Essentially Flat

Spot truckload freight volumes improved slightly during the week ending Feb. 25 thanks to a 7% gain in flatbed load posts, according to DAT Solutions.

Van and refrigerated freight posts declined 5% and 6% respectively last week.

Stronger flatbed volume and lower numbers of available van and reefer freight were reflected in the week’s load-to-truck ratios:

– Van ratio: 2.3 available van loads per truck, down 7%
– Reefer ratio: 4.4, down 6%
– Flatbed ratio: 29.0, up 8%

Generally solid spot load-to-truck ratios for this time of year did little to move national average outbound rates last week:

– Van: $1.62/mile, unchanged
– Reefer: $1.87/mile, down 1 cent
– Flatbed: Unchanged at $1.96/mile

These rates include a fuel surcharge. The national average price of diesel gained 1 cent to $2.57/gallon.

VAN TRENDS

While van volumes slipped 5% overall, more activity on the top 100 van lanes recently may soon bring upward pressure to spot rates.

But not yet, as no major van market saw a big increase in the average outbound rate:

– Los Angeles, $1.84/mile, unchanged
– Chicago, $1.92/mile, down 2 cents
– Dallas, $1.51/mile, unchanged
– Atlanta, $1.83/mile, unchanged
– Philadelphia, $1.60/mile, down 1 cent

FLATBED TRENDS

With van and reefer markets in a lull, spot flatbed rates and volumes are climbing ahead of schedule.

The national average flatbed load-to-truck ratio increased for the 4th week in a row as load posts rose 7% and truck posts declined 1%. Some strength is due to higher freight activity but weather played a role as well:

– Rock Island, Ill.-Minneapolis went from Spring conditions to snow storms late in the week. On average, the lane rate rose 39 cents to $2.55/mile.
– Cleveland-Harrisburg, Pa., jumped 35 cents to $3.09/mile. It’s unusual for this lane to be above $3 per mile this time of year.
– Raleigh-Baltimore paid 32 cents better on average at $2.61/mile—surprisingly high for February.

REEFER TRENDS

The number of spot reefer load posts declined 6% against a 1% drop in truck posts last week. The national average reefer rate lost 1 cent for the third week in a row.

Average rates out of major reefer markets were mixed.

Two bright spots were in the Northeast: Philadelphia, at $2.28/mile (up 6 cents), and Elizabeth, N.J., at $1.67/mile (up a penny). Out West, Los Angeles averaged $2.32/mile, unchanged. In the South, both Atlanta ($2.11/mile) and McAllen, Texas ($1.93/mile), fell 2 cents on average.

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