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Spot Freight Market Returns to Normal Following Holiday Surge
The spot truckload freight market returned to seasonal norms during the week ending July 15 as the number of posted loads increased 35% and truck posts added 28%, according to DAT Solutions and its network of load boards.
Higher demand did not lead to higher rates, however, as urgency subsided during the first full week after the Fourth of July holiday. National average spot van, refrigerated, and flatbed rates all settled down.
The top 100 van lanes hit records for volume last week and van load posts increased 21% and truck posts increased 30% nationally. That caused the van load-to-truck ratio to decline 7% to 5 to 1.
The national average van rate fell to $1.83 mile, down 7 cents after a 10-cent gain the week before but still 3 cents higher than the June average.
Prices were lower in the Southeast, South Central, and Northeast regions. Allentown, Pennsylvania, lost 11 cents for an average of $2.03 per mile and Philadelphia dropped 4 cents to $1.70 per mile. All reported rates include fuel surcharges.
Other major van markets also showed declines over the past week:
Los Angeles: $2.21 per mile, down 8 centsCharlotte: $2.25 per mile, down 8 centsAtlanta: $2.20 per mile, down 5 centsDallas: $1.78 per mile, down 6 centsHouston: $1.84 per mile, down 5 centsReefer load posts increased 27% week-over-week while truck posts were up 17%. The national load-to-truck ratio increased 8.5% to 9 to 1. The national average rate retreated 5 cents to $2.12 per mile, matching the June average.
Despite the overall decline, the range for reefer rates is wide with outbound freight paying $1.62 per mile from Lakeland, Florida to $2.75 per mile outbound from Green Bay.
Flatbed volumes didn't slip as expected in the first half of July. Instead, there were 52% more loads posted last week than the week before, and ...Read the rest of this story
Trailer orders rebounded in June
Trailer orders reached 18,900 units in June, according to data tracked by research firm FTR Transportation Intelligence, rebounding from May with a month-over-month improvement of 12% and posting a 58% increase over June 2016 order levels.
Overall, trailer orders now total 261,000 units for the past twelve months with production rising a “surprisingly” 5% from May primarily for dry van and refrigerated units, noted Don Ake, FTR's vice president of commercial vehicles.
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Canadian shippers recognize top carriers
Report: State laws need changing to support platooning, AVs
One of the hurdles facing the wider deployment of autonomous vehicles (AVs) as well as efforts to develop platooning strategies for cars and commercial trucks alike are what's being called “outdated state laws,” according to a read more
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U.S. trucking conditions remain favorable: FTR