Specific markets propel spot truckload rates to go higher

Specific markets propel spot truckload rates to go higher

Led by strong regional demand, spot truckload rates rose across all three equipment types during the week ending March 19, 2016, reported DAT Solutions, which operates the DAT network of load boards.

The number of spot market loads increased 8.7% compared with the previous week while the amount of available capacity was virtually unchanged. The national average van rate gained 3 cents to $1.58 per mile, the reefer rate added 2 cents to $1.83, and the flatbed rate jumped 5 cents to $1.87.

Much of the gains resulted from specific markets.

Nationally, the van load-to-truck ratio advanced from 1.5 to 1.6, meaning there were 1.6 van loads for every truck posted on the DAT network. Van load posts climbed 7% the week ending March 19 while truck posts stayed the same.

Regionally, outbound rates from Los Angeles CA were up 6 cents to an average $1.89 per mile, mostly due to greater activity at the ports. Outbound van rates increased in other major markets including Chicago IL (up 2 cents to $1.75), Atlanta GA (up 3 cents to $1.60), and Philadelphia PA (up 5 cents to $1.70).

Reefer load posts gained 10% while truck posts added 1% the week ending March 19. As a result, the load-to-truck ratio moved up 9% to 3.3 and the national average reefer rate climbed 2 cents to $1.83 per mile.

Flatbed load volume was up 11% and capacity declined 3%, propelling the load-to-truck ratio up 14% to 18.3. The national average flatbed rate increased 5 cents to $1.87 per mile the week ending March 19.

The national average diesel price rose 2 cents to a national average of $2.12 a gallon.

Rates are derived from DAT RateView, which provides real-time reports on prevailing spot market and contract rates, as well as historical rate and capacity trends. All reported rates include fuel surcharges.

Load-to-truck ratios represent the number of loads posted for every truck available on DAT load boards. The load-to-truck ratio is a sensitive, real-time indicator of the balance between spot market demand and capacity. Changes in the ratio often signal impending changes in rates.

For complete national and regional reports on spot rates and demand, see www.dat.com/Trendlines.

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