Demand for goods coming in from Mexico at the Laredo, Texas, border crossing is spurring significant per-mile rate hikes for loads out of Laredo into the rest of the U.S., says a prominent brokerage that works cross-border freight.
Over all, the index increased up 1.1% from July to August and was up 0.8% annually.
In large part, on the spot market anyway, 2020 has been a tale of two seasons, as many owner-operators and small fleets have experienced first hand in their own dealings.
DAT's line haul rates measure the seven-day weekly moving average for spot rates in dry van and reefer hauls. They often reflect the balance of supply and demand in the spot market. The rates exclude fuel surcharges and are derived from DAT’s RateView database.
Prices notched a record on Thursday but are likely to fall back to earth
In a sharp turnaround from the spring, freight railroads and trucking companies are scrambling to get workers and equipment in place to handle a surge in cargo.
Retirements, career changes, and delays at licensing bureaus and training schools are clogging up the talent pipeline.
9.0% - Increase from July to August in rates on the U.S. spot truckload market, according to DAT Solutions.
Shippers who locked in low contract truck rates in January or during the early days of the COVID-19 pandemic are now having to renegotiate prices to get capacity because of the sharp turnaround in freight volumes, according to motor carriers.
Leading trucking executives and analysts say they are pleasantly surprised by the strength in freight demand coming out of the COVID-19-induced economic shutdown in early summer.