Spot Van Rate Hits Peak of $1.98 per Mile

The national average spot market van rate hit a peak of $1.98 per mile during the week ending Feb. 22, according to DAT Trendlines, a composite of the DAT network of load boards.

The rate—13% higher compared to the same week in 2013—has been pushed by increasing load volume (up 12% last week) and tighter available capacity (3.3%). It remains unseasonably high.

Regionally, van traffic has been affected by weather-related supply chain issues. The average outbound spot rate from Memphis increased 10 cents to $2.43 per mile as some freight started moving east, adding pressure in that market.

The rate from Atlanta averaged $2.05 per mile, up 5 cents last week, while the Midwest markets of Columbus, Ohio, and Chicago were up 10 cents at $2.30 per mile and down 4 cents to $2.35 per mile, respectively (Chicago is still up 7.8% during the last month). The average rate outbound rate from Buffalo dropped 16 cents to $2.04 per mile as that market continues to seesaw with the weather.

Dry van load volume surged 12% last week while available capacity tightened 3.3%.

That moved the load-to-truck ratio to 5.6, up 16% from 4.8 the prior week. Load-to-truck ratios represent the number of loads posted for every truck posted on the DAT network of load boards.

For temperature-controlled units, overall load volume increased 8.5% while capacity shrank 1.4%, moving the load-to-truck ratio up 10.1% to 16.0, from 14.5 the prior week. The national average rate for reefers fell 2 cents (a 0.9% decline) to $2.11 per mile, which is still high for this time of year.

The national average rate for flatbeds jumped 2 cents to $2.10 per mile. The number of posted flatbed loads increased 18% last week while flatbed capacity tightened 5.3%. The load-to-truck ratio jumped 25% to 26.0 from 20.8 the prior week.

More info at: dat.com/Resources/Trendlines.aspx.

Tags: DAT

Category: General Update