Freight marketplace provider DAT Solutions says rates on the truckload spot market have been pushing to historic highs. The average per-mile rate for dry-van transport on the spot market so far this month was up 31 cents, or 13.1%, from January.
Truckload van and refrigerated freight volumes on the MembersEdge load board leveled off while the flatbed load-to-truck ratio jumped sharply last week. The total number of loads posted to the DAT network increased just 0.7%, and the number of trucks dipped 1.3% week over week.
DAT Freight & Analytics reported a 174% year-over-year increase with total available loads exceeding 10 million for the week ending Feb. 21. This marked its busiest week ever for load postings — some 42% higher than the previous record set in June 2018.
The number of loads posted on DAT MembersEdge fell 11.4% and the number of trucks increased 9.2% last week compared to the previous week. Easing capacity and more predictable travel conditions appear to have propelled spot rates to a plateau well above seasonal expectations.
Three weeks after winter storms upended supply chains across the country, truckload freight shipments settled into more normal patterns during the week ending March 14, said DAT Freight & Analytics, which operates the industry’s largest load board network.
Loads posted to DAT fell 11.4% while trucks increased 9.2% compared to the previous week. The combination of easing capacity and more predictable travel conditions has brought spot van, refrigerated and flatbed rates higher than February averages.
Supply & Demand Chain Executive, the only publication covering the entire global supply chain, today named Ken Adamo, DAT Chief of Analytics, to its list of “Pros to Know” for 2021.
US freight demand is “through the roof” after supply chains broke down during February’s winter storms, trucking companies say. More freight may be shifting from spot markets to contractual partners as networks are restored.
DAT noted that the week of February 21 was the busiest week ever for load postings on the DAT network, with the total number of available loads exceeding 10 million and was 42% higher than the previous record set in June 2018 and 174% higher compared to the same period last year.
As the pandemic shifts and the economy continues to morph, what can truckers expect from freight demand as 2021 ages? What will happen with rates? We pitched these questions and more to the brain trust at DAT Freight & Analytics, which runs the DAT load board network and provides a slew of freight economy data and forecasting metrics.