Freight index hits record high for January

TransCore’s North American Freight index marked a record high for the month of January, up 5% compared with January 2011. Month-over-month, January 2012’s spot market freight volume slipped 8% versus December 2011. The month-over-month seasonal decline is consistent with historic trends but less than the prior 10-year average decline of 14%.

TransCore’s monthly North American Freight Index reflects spot market freight availability on the company’s network of load boards in the United States and Canada.

Truckload freight rates increased 7.3% on the spot market for dry vans and 4.5% for flatbeds, compared with January 2011, while declining 0.7% for refrigerated (reefer) vans. The year-over-year rate increase in January continues the trend seen throughout 2011, when spot market rates rose 7.4% overall compared with 2010.

Rates followed seasonal patterns for January, which is typically a slow month for trucking freight volume and rates. For dry vans—the predominant equipment type—rates slipped 1.5% from December. Flatbed rates declined 2.4% and reefer rates dropped 6.5% month-over-month. These rates are derived from TransCore’s Truckload Rate Index, and do not include fuel surcharges. Spot market rates are paid by brokers and 3PLs to the carrier.