DAT Freight Index Hits All-Time High in September; Tight Capacity Sends Spot Rates to Their Highest Point Since December 2014...
October 11 2017 - 1:36PM
The DAT North American Freight Index achieved record highs in
September, with a 9 percent gain compared to August. Spot freight
availability was 74 percent higher than in September 2016, reported
DAT Solutions, which operates North America’s largest digital
truckload freight marketplace.
A photo accompanying this announcement is available at
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Demand for truckload capacity, already at a premium due to
economic growth and seasonal freight activity, experienced the
largest year-over-year increase since 2010, when the economy was
emerging from a recession. Hurricanes Harvey and Irma also
contributed to demand, as the storms disrupted supply chains and
boosted spot truckload rates to levels not seen since December
2014, when extreme winter weather closed highways and caused fuel
prices to spike.
The greatest impact in September was in the van market:
- Van freight activity increased 15 percent compared to August
and 80 percent year over year. - The national average spot van rate
was $1.97 per mile, 19 cents higher than in August and 35 cents
higher than in September 2016. - There were 6.6 available van loads
per available truck in September, the highest monthly
average in at least eight years.
Demand for refrigerated (“reefer”) capacity was bolstered by
robust harvests in the Upper Midwest and Pacific Northwest, plus
late harvests in California. Reefer freight activity increased 4
percent compared to August and was 70 percent higher year over
year, which led to higher rates. At $2.23 per mile, the national
average spot reefer freight rate was 15 cents higher compared to
August and 32 cents higher year over year.
Flatbed freight activity increased 3 percent compared to August,
as recovery and rebuilding efforts picked up in the Southeast and
South Central regions. Flatbed freight activity typically declines
in September. The national average spot flatbed rate was up 8 cents
to $2.26 per mile.
“Based on patterns from the last three years, we expect higher
demand for truckload capacity to continue at least through
December, with the movement of holiday-related e-commerce freight
and the onset of the federal electronic logging device mandate,”
said Mark Montague, DAT industry analyst. “Demand may recede in
February, which is normally a slack period, but we expect rates to
remain somewhat higher than in previous years.”
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
$33 billion of actual transactions between freight brokers and
carriers, as recorded in DAT RateView. Reference rates per mile
include fuel surcharges, but not accessorials or other fees.
Beginning in January 2015, the DAT Freight Index was rebased so
that 100 on the Index represents the average monthly volume in the
year 2000. Additional trends and analysis are available at DAT
Trendlines.
About DAT Solutions
DAT operates the largest truckload freight marketplace in North
America. Transportation brokers, carriers, news organizations, and
industry analysts rely on DAT for market trends and data insights
derived from 177 million forecasted freight matches in 2017, and a
database of $33 billion of market transactions. Related services
include a comprehensive directory of companies with business
history, credit, safety, insurance, and company reviews; broker
transportation management software; authority, fuel tax, mileage,
vehicle licensing, and registration services; and carrier
onboarding. Founded in 1978, DAT Solutions LLC is a wholly owned
subsidiary of Roper Technologies (NYSE:ROP), a diversified
technology company and constituent of the S&P 500, Fortune
1000, and Russell 1000 indices. DAT.com
Contact:
Eileen Hart Vice President, Marketing & Corporate
Communications PR@dat.com | 503-672-5132
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