Spring Truckload Freight and Rates Surge, Down vs. 2014

Spot market freight volume rose 34 percent in March 2015 compared to the previous month, a spring surge which is typical for the season, according to the DAT North American Freight Index, a measure of conditions on the spot truckload freight market.

By comparison, March freight availability declined 28 percent year-over-year.

The spring freight season usually begins in late March, but a prolonged winter in 2014 led to unprecedented volume throughout the entire first quarter.

By equipment type, freight volume increased month-over-month: 34 percent for vans, 41 percent for flatbeds and 20 percent for refrigerated (“reefer”) trailers. Truckload freight rates on the spot market rose seasonally for all equipment types: van rates increased 2.5 percent, flatbeds added 2.8 percent, and reefers were up 1.7 percent, compared to February.

Compared to the extraordinary market conditions of March 2014, year-over-year freight volume by equipment type declined 19 percent for vans, 42 percent for flatbeds and 1.3 percent for reefers. Rates trended up, however: van rates rose 2.5 percent, flatbeds were up 6.9 percent, and reefer rates rose 6.4 percent, compared to March 2014. Monthly average rates have increased year-over-year for more than 20 consecutive months.

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