Home » Spot Truckload Rates Hit 2-Year Highs

Spot Truckload Rates Hit 2-Year Highs

fleetnewsdaily | September 22, 2017

Due to recent hurricanes, the number of available loads on the spot truckload freight market increased 27% during the week ending Sept. 16, according to DAT Solutions. A 20-25% week-over-week increase in loads is not unexpected for the first full workweek after a holiday.

National average spot TL rates remain at two-year highs:

Van: $1.93/mile, unchanged
Flatbed: $2.24/mile, unchanged
Reefer: $2.18/mile, up 1 cent

Load-to-truck ratios on the spot market are elevated as well:

Van L/T ratio: 6.6
Flatbed L/T ratio: 41.1
Reefer L/T ratio: 11.9

Nationally, van load posts and truck posts both increased 20% while the number of reefer load posts gained 18% and capacity was up 12%. The most substantial increase was in the flatbed segment, where the number of load posts was up 41% and truck posts increased 19%. At 41.1, the flatbed load-to-truck ratio is the highest since peak season in April.

Regionally, supply chains adjusted to the aftermath of two major storms. In Florida, van freight volumes increased on lanes from Atlanta and Charlotte, as did average van rates:

– Atlanta-Lakeland, up 70 cents to $3.65/mile
– Atlanta-Miami, up 54 cents to $3.19/mile
– Charlotte-Lakeland, up 42 cents to $3.32/mile

Chicago and Columbus, Ohio, outbound van rates have risen 14% and 15% in the past month, since the Midwest hubs have been in position to facilitate rerouted freight from both Harvey and Irma.

Rates fell on only 35 of the top 100 van lanes, mostly in Texas where pricing continues to normalize after hitting historic highs following Hurricane Harvey. Dallas-Houston fell 54 cents but is still high at $2.96/mile.

The spot reefer market for Florida freight reflected similar trends: Atlanta-Miami, for instance, jumped 68 cents to $3.34/mile last week, and Atlanta-Lakeland added 52 cents at $3.89/mile.

Diesel prices took a 1-cent step back to a national average of $2.79/gallon.