Seasonal freight expands June spot market volume
Seasonal freight added 28% to spot market load availability in June 2016, boosting total volume to levels seen in 2013 and 2012, and only 12% below 2015 totals, according to the DAT North American Freight Index. It is typical for freight volume to increase in June and decline in July, but this year’s surge also jump-started volume and rates in July to-date.
Month over month by equipment type, dry and refrigerated vans enjoyed the biggest volume increases, up 49% and 39%, respectively. Both segments had seen only single-digit increases in June of the previous four years. Flatbed freight gained only 7.1%, a more typical advance for the month.
On a year-over-year basis, van freight volume climbed 3.4% versus June 2015. It was the first year-over-year improvement for vans, which comprise a large majority of for-hire trucks, in any month since December 2014. Reefer freight availability fell 5.4%, however, and flatbeds lost 28%.
Linehaul rates were lower for all equipment types, dropping 11% for vans, 8.9% for reefers, and 7.5% for flatbeds compared with June 2015. Total carrier revenue was eroded further by a 28% ($0.08 per mile) decline in the fuel surcharge versus June 2015.
Established in 1978, DAT operates a network of load boards serving intermediaries and carriers across North America. For more than a decade DAT has published its Freight Index, which is representative of the dynamic spot market.
Reference rates are the averages, by equipment type, based on $28 billion of actual transactions between freight brokers and carriers, as recorded in DAT RateView. Rates are cited for linehaul only, except where noted. Beginning in January 2015, the DAT Freight Index was rebased so 100 on the index represents the average monthly volume in the year 2000. Additional trends and analysis are available at DAT Trendlines.
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