Spot truckload rates bounced higher in May as shippers sought capacity to move greater volumes of van and refrigerated freight, said DAT Freight & Analytics, operators of the DAT One freight marketplace and DAT iQ data analytics service.
Month-to-month decline in shipments posted to the truckload van spot market from April to May, as loads fell 22.8% from May 2023, according to DAT Solutions.
According to Verisk Analytics’ CargoNet, $154.6 million worth of goods was stolen during the first quarter of 2024 - an increase of 46% year-over-year. Fraud schemes - from document forgery and double brokering to identity theft and ransomware attacks - are a growing threat to the fast-paced and increasingly digitized freight transportation industry.
US truckload spot rates are rising seasonally as the summer approaches but remain at or below year-ago levels in the largest trucking lanes, data from several sources indicates.
A national average fell to $3.658 per gallon, with a Midwest region seeing the biggest drop.
From a carrier’s perspective, the way shippers procure transportation can seem arbitrary, with limited thought or imagination. Run a bid and pick the lowest rates.
Almost 6 months ago I wrote about how various indicators suggested the dry van truckload (TL) market was poised for a weak market during the start of 2024. Unfortunately for dry van TL carriers, that prediction has come to pass as evidenced by weak earnings of large public dry van TL carriers in Q1 2024.
It was “more of the same” for freight markets in April, according to industry sources. The amount of freight that’s available to haul declined once again, and the rates shippers are paying to haul available loads declined too.
Some spot truckload rates, for certain truckload segments, trended down in April while volumes inched up, according to the new edition of the DAT Truckload Volume Index (TVI), which was recently issued by DAT Freight & Analytics.
Load posts and rates in the spot market increased last week—but posts and rates remained down year over year—according to the latest reports from FTR Transportation Intelligence and DAT Freight & Analytics.