It was a busy week for trucking-related economic data, which painted a mixed picture. Canadian spot market volumes were steady, but spot market rates in the U.S. remained weak – especially for flat-deckers.
Spot rates in the truckload freight sector may have hit the bottom of their slump cycle, according to data from online freight marketplace operator DAT Freight & Analytics.
Several leading industry reports point toward a freight cycle has hit bottom or will soon. DAT analytics reports June numbers indicate the spot rate bottom has already happened.
June contract rates also fell to their lowest points in almost two years, as spot/contract gap is narrowest since April 2022.
The firm joined others in warning about upticks in illegal activity and unveiled new tools for companies to mitigate risk.
While truckload freight volumes and spot rates held firm in June, contract rates fell to their lowest points in almost two years.
DAT Freight & Analytics, which operates the DAT One marketplace for spot truckload freight and the DAT iQ analytics service, and Convoy, a leading digital freight network, announced the amicable settlement of pending legal action between DAT and Convoy:
DAT Freight & Analytics has introduced new initiatives involving a combination of technology, education and enforcement to reduce the risk of fraud and double brokering in the trucking industry while delivering speed, convenience and an open marketplace via the DAT One truckload freight network.
The June edition of the DAT Truckload Volume Index (TVI), which was issued this week by DAT Freight & Analytics represented a mixed bag, of sorts, with spot rates remaining firm, and contract rates falling to a nearly two-year low.
Truckload freight volumes and spot rates held firm in June while contract rates fell to their lowest points in almost two years, according to DAT Freight & Analytics, operators of the industry’s largest online freight marketplace and DAT iQ data analytics service.