Spot Van, Refrigerated Rates Rise for Year-end Highs

The number of available loads fell 22% while the number of available trucks decreased 36%, in line with expectations for a holiday-shortened business week. Load-to-truck ratios increased sharply for all three equipment types:

– Van load-to-truck ratio: 12.3, up 22%, setting an all-time high for vans

– Flatbed ratio: 52.3, up 26%

– Reefer ratio: 23.7, up 33%

In the van market, load posts were down 22% and truck posts fell 36%. The national average van rate increased 2 cents to $2.11/mile, the highest national average in three and a half years.

Rates jumped significantly in major markets, including Los Angeles ($2.92/mile, up 14 cents), Charlotte ($2.48/mile, up 10 cents), Atlanta ($2.45/mile, up 7 cents), Dallas ($2.12/mile, up 18 cents), Buffalo ($2.82/mile, up 15 cents), Philadelphia ($2.32/mile, up 20 cents), Chicago ($2.95/mile, up 15 cents), and Columbus, Ohio ($2.78/mile, up 15 cents).

The national average spot refrigerated rate increased 6 cents to $2.46/mile, its highest point since July 2014. Reefer load posts declined only 9% while the number of trucks posted plunged 32%.

Tighter capacity helped push up rates in key reefer markets including Grand Rapids, Mich. ($3.74/mile, up 29 cents), Chicago ($3.29/mile, up 26 cents), Philadelphia ($3.03/mile, up 21 cents), Los Angeles ($3.22/mile, up 28 cents), Atlanta ($2.75/mile, up 12 cents), Lakeland, Fla. ($1.58/mile, up 19 cents), McAllen, Texas ($2.37/mile, up 26 cents), and Dallas ($2.39/mile, up 27 cents).

Flatbed load posts were down 32% and truck posts dropped off 46% last week. The national average flatbed rate held steady at $2.33/mile compared to the previous week, just 1 cent lower than the peak rate in October.

The national average price of on-highway diesel fuel was unchanged at $2.90/gallon. Prices remain nearly 50 cents higher than this time last year. Spot truckload freight rates include a fuel surcharge portion.