Memorial Day led to tighter capacity and higher spot market rates as we saw many independent carriers go home for the 3-day-weekend. Flatbed rates rose to another record high while reefer rates are up 2¢ per mile. We're seeing especially tight reefer capacity coupled with high rates coming out of the South and Southeast due to a booming produce season.
Topics: market update
Flatbed rates remain off the charts, but the most prevalent story in the market right now is the upcoming Roadcheck, a.k.a. the annual Commercial Vehicle Safety Alliance (CVSA), that will be held in two weeks (June 5th – 7th). During this time, there will be tens of thousands of inspections performed on commercial vehicles. Historically, this disrupts the marketplace due to the lost time during inspections as well as a significantly reduced amount of open capacity as many carriers stay off of the road during the Roadcheck event.
Topics: market update
With produce season in full swing, we're seeing tight capacity across the board, especially out the South East. Reefer rates are on the rise due to produce while flatbed rates took a slight dip after record highs due to peak season for construction and building products.
Topics: market update
Overall capacity remains tight as we head into peak produce season. Heavy hauling and construction freight prices are through the roof as flatbed demand hits a record high of 111 loads per available truck.
Topics: market update
Rates remain steady as April comes to a close, however overall volume is beginning to grow as we see seasonal spikes from produce and construction.
Topics: market update
Van and reefer rates took a slight dip this week while flatbed rates climbed to a new record high. Winter weather in the Northeast and parts of the Midwest have caused a delay in the usually booming produce season. Expect to see an increase in fuel surcharge costs as the recent spike in diesel prices have added approximately $0.10 / mile to truckload rates versus a year ago.
Topics: market update
The van load-to-truck ratio fell 11% last week to 6.6 loads per truck. This dip is consistent with seasonal trends, however capacity remains at historically low levels. Cass reported in March that their TL Linehaul Index has not only been positive now for twelve months in a row, but pricing for trucking continues to gain momentum.
Topics: market update
Spot market rates remain high as we enter April. Rates typically rise as we enter April and spring produce and home improvement seasons, but average spot rates remain 30 to 40 cents per mile higher than 2017. Truckload capacity continues to tighten, likely exacerbated by the first week of trucks being taken off the road for Electronic Logging Devices noncompliance violations.
Topics: market update
Capacity remains tight in certain markets such as Georgia and South Texas. Most recent reports still show capacity remaining tight relative to demand for the foreseeable future. The driver pool continues to shrink due to more favorable employment alternatives.
Topics: market update
Analysts project that the gap between 2017 and 2018 spot rates will narrow in the third and fourth quarters. This does not signify a reduction for this year as much as it shows when rates began to skyrocket last year. Continued tight capacity also means unanticipated network disruptions like major weather events won’t be easily absorbed.
Topics: market update