Demand for reefer, van capacity climbs; spot truckload rates hold
Pre-Thanksgiving shipping boosted demand for vans and refrigerated capacity on the spot truckload market during the week ending November 21, 2015, according to DAT Solutions, which operates the DAT network of load boards.
The total number of loads posted increased 7.1% compared with the previous week while capacity was essentially unchanged (–0.3%), DAT reported.
Even though demand was up, the national average truckload van rate on the spot market held at $1.70 per mile. Average outbound rates rose in key markets including Los Angeles CA (up 4 cents to $2.01 per mile) and Philadelphia PA (up 3 cents to $1.70), but slipped in Buffalo NY (down 7 cents to $1.85), Columbus OH (down 1 cent to $1.84), and Chicago IL (down 1 cent to $1.98).
Van load availability jumped 13% while posted capacity was nearly unchanged (down 0.8%). The load-to-truck ratio rose 14% to 1.8 loads per truck, meaning there were 1.8 available van loads for every truck posted on the DAT network.
The national average spot rate for refrigerated freight gained 1 cent to $1.93 per mile. Prices surged in the West: outbound reefer rates in Sacramento CA climbed 21 cents per mile; 13 cents in Twin Falls ID; 10 cents in Fresno CA; and 9 cents in Ontario CA. Los Angeles prices advanced 1 cent while the average per-mile rate in Nogales AZ added 4 cents.
Flatbed load availability on the spot market fell 8% and truck posts were unchanged (up 0.7%). The national flatbed load-to-truck ratio dropped another 7% to 5.8 while the national average flatbed rate continued to sag, losing 3 cents to $1.92 per mile.
The national average price of diesel retreated 4 cents to $2.44 per gallon the week ending November 21. All reported rates include fuel surcharges.
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. 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, access www.dat.com/Trendlines.