National average spot rates for van and refrigerated freight closed last week at their highest points in nearly two years, and the van load-to-truck ratio was above 5 for the third straight week, unprecedented for the month of August
Union Pacific Railroad will raise surcharges on excess contract cargo to $3,500 per container for small shippers, and raise spot market rates another $1,500 out of Los Angeles effective Aug. 23.
Dry van spot rates rose 12.2% between June and July, according to DAT Solutions. The rates were up 10.3% in July, from the same month in 2019.
Spot truckload rates out of California as of July 31 were up $1.00 to $1.40 per mile from the low point in April, according to DAT Solutions and a JOC.com analysis of rate data provided by digital broker Loadsmart.
“Supply chain disruptions caused by COVID-19 pushed more freight to the spot market, with national average truckload rates for vans, reefers and flatbeds each hitting their highest marks of the year in July,” according to DAT Solutions.
Spot truckload rates for van, refrigerated, and flatbed have all seen increases since last month, with supply chain disruptions caused by COVID-19 pushing more freight to the spot market at a time when demand for truckload capacity usually declines.
The number of spot dry van, refrigerated, and flatbed loads on DAT One decreased 3% during the week ending July 26 while the number of trucks posted increased 2%.
According to DAT Solutions, the number of spot dry van, refrigerated, and flatbed loads on DAT One decreased 3% during the week ending July 26 while the number of trucks posted increased 2%.
Spot truckload freight rates increased again last week, bucking typical trends for late July, said DAT Solutions, which operates DAT One, the industry’s largest load board network.
Momentum has seemingly continued for the freight recovery that began in late May, in some ways bucking seasonal trends as spot market freight and rates haven’t seen the usual June-to-July drop off.