DAT Freight Index: Record Demand Boosts Spot Truckload Rates to New Heights in June
July 09 2018 - 2:15PM
Demand for truckload shipments faced off against capacity
shortfalls, boosting truckload rates to new heights on the spot
market in June, according to DAT Solutions, which operates North
America’s largest load board marketplace.
Rates for spot market transactions matched longer-term contract
rates for dry van equipment, while spot refrigerated (“reefer”) and
flatbed rates exceeded contract rates as a national average.
“June capped an unprecedented 15-month run of spot market rate
increases, the longest sustained period of pricing power for
truckers since deregulation,” noted Mark Montague, pricing analyst
at DAT.
“While contract rates typically rise after a sustained increase
in spot market rates, there is usually a lag of four to six months.
This year, that lag time is reduced to a few weeks,” Montague
explained.
Contract rates increased 19 percent for vans compared to June
2017, but spot market rates rose by 29 percent during the same
period.
Spot van rates hit $2.32 per mile, and rates paid to carriers by
freight intermediaries matched the longer-term contract rates paid
by shippers directly to carriers.
Spot reefer and flatbed rates both exceeded the comparable
contract rates, as reefer rates rose 16 cents to $2.69 and flatbeds
added 10 cents to $2.82, compared to the national averages for
May.
Compared to June 2017, spot van rates soared 52 cents per mile,
reefers surged 58 cents and flatbeds shot up 65 cents.
Freight availability on DAT load boards also set a new record,
as the DAT North American Freight Index rose 9.3 percent month over
month, and increased 18 percent compared to June 2017.
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.
Referenced rates are the averages by equipment type, based on
$57 billion of actual annualized transactions, as recorded in DAT
RateView. Reference rates per mile include fuel surcharges, but not
accessorials or other fees. The DAT Freight Index reflects load
posting volume on the DAT network of load boards, and 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 270 million freight matches (2018 estimate) and a
database of $57 billion in annual 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
Charts accompanying this announcement are available at:
http://www.globenewswire.com/NewsRoom/AttachmentNg/05e31a13-2deb-48ab-8458-a77be840421c
http://www.globenewswire.com/NewsRoom/AttachmentNg/28f1e2a7-1269-46d8-9988-b6bec7c7bc8f
Contact:
Eileen Hart Vice President, Marketing & Corporate
Communications PR@dat.com | 503-672-5132
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