Spot freight volumes rebound

While freight volume has been declining for all modes – air, rail, sea and barge – because of all the uncertainty around imports and exports, the spot truckload freight market has been the exception.

The number of loads on MembersEdge jumped 5% last week and pushed the national average van load-to-truck ratio higher. The number of available trucks compared to the previous week fell by 1%, which helped prop up rates.

National average spot rates through Aug.18

• Van: $1.81 per mile, 3 cents lower than the July average.
  
• Flatbed: $2.21 per mile, 6 cents lower than July.
• Reefer: $2.14 per mile, 5 cents lower than July.

H2 Flatbed trends: Slow demand and shifting capacity

The spot flatbed load-to-truck ratio fell to 11.6 last week after spending the first half of August above 12. Flatbed demand and rates are tied to oil and gas exploration, and there are about 100 fewer active wells now than there were at this time last year.

There’s simply not as much available flatbed freight for trucks to move. At $2.21 per mile, the national average flatbed rate is 9 cents lower than the June average, when the load-to-truck ratio was just above 20. The problem is that the flatbed market has plenty of capacity, and some of it has shifted away from the flatbed market into vans.

H2 Van trends: Gateway through Buffalo
 
The van load-to-truck ratio increased from 2.1 to 2.4, and one market stands out: Buffalo, N.Y., a gateway between Canada and the U.S.

Van volumes from Buffalo have been solid all month, and at $2.15 per mile, the average outbound rate is up 5% over the past four weeks. Outbound rates on two key lanes, while lower than average, picked up nicely:

• Buffalo to Columbus, Ohio, rose 12 cents to $1.95 per mile.
  
• Buffalo to Charlotte added 10 cents to $1.96 per mile.
  

Van freight volumes have been stable for nearly all of 2019 but again, so has capacity. Spot rates have drifted lower but, if seasonal trends hold, they should pick up in late September and October as shippers enter their busy season.

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.

For the latest spot market load availability and rate information, visit the MyMembersEdge.com load board or tune in to Land Line Now. You can get all of the latest rate information at dat.com per industry-trends per Trendlines, comment on the DAT Freight Talk blog, or join us on Facebook. On Twitter you can tweet your questions to us @LoadBoards and have your questions answered by DAT industry analyst Mark Montague.

While freight volume has been declining for all modes – air, rail, sea and barge – because of all the uncertainty around imports and exports, the spot truckload freight market has been the exception.

The number of loads on MembersEdge jumped 5% last week and pushed the national average van load-to-truck ratio higher. The number of available trucks compared to the previous week fell by 1%, which helped prop up rates.

National average spot rates through Aug.18

• Van: $1.81 per mile, 3 cents lower than the July average.
  
• Flatbed: $2.21 per mile, 6 cents lower than July.
  
• Reefer: $2.14 per mile, 5 cents lower than July.

Flatbed trends: Slow demand and shifting capacity

The spot flatbed load-to-truck ratio fell to 11.6 last week after spending the first half of August above 12. Flatbed demand and rates are tied to oil and gas exploration, and there are about 100 fewer active wells now than there were at this time last year.

There’s simply not as much available flatbed freight for trucks to move. At $2.21 per mile, the national average flatbed rate is 9 cents lower than the June average, when the load-to-truck ratio was just above 20. The problem is that the flatbed market has plenty of capacity, and some of it has shifted away from the flatbed market into vans.

Van trends: Gateway through Buffalo

The van load-to-truck ratio increased from 2.1 to 2.4, and one market stands out: Buffalo, N.Y., a gateway between Canada and the U.S.

Van volumes from Buffalo have been solid all month, and at $2.15 per mile, the average outbound rate is up 5% over the past four weeks. Outbound rates on two key lanes, while lower than average, picked up nicely:

• Buffalo to Columbus, Ohio, rose 12 cents to $1.95 per mile.
  
• Buffalo to Charlotte added 10 cents to $1.96 per mile.

Van freight volumes have been stable for nearly all of 2019 but again, so has capacity. Spot rates have drifted lower but, if seasonal trends hold, they should pick up in late September and October as shippers enter their busy season.

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.

For the latest spot market load availability and rate information, visit the MyMembersEdge.com load board or tune in to Land Line Now. You can get all of the latest rate information at dat.com per industry-trends per Trendlines, comment on the DAT Freight Talk blog, or join us on Facebook. On Twitter you can tweet your questions to us @LoadBoards and have your questions answered by DAT industry analyst Mark Montague.