Despite rising demand from swelling truck freight volume, national average spot van and refrigerated truck rates plunged to two-and-half-year lows in March, according to a report from DAT Freight & Analytics.
The DAT Truckload Volume Index (TVI) increased for all three equipment types for the first time since July 2022, but national average spot van and refrigerated (“reefer”) rates plunged to two-and-half-year lows in March, said DAT Freight & Analytics, which operates the industry’s largest online freight marketplace and DAT iQ data analytics service.
Despite rising demand from swelling truck freight volume, national average spot van and refrigerated truck rates plunged to two-and-half-year lows in March, according to a report from DAT Freight & Analytics.
Beaverton, Ore.-based trucking intelligence firm DAT Freight & Analytics reports that refrigerated spot truckload rates dropped to a two-and-half-year low in March.
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The rates shippers pay for spot dry-van truckload capacity continued to drop in March, falling $0.05 per mile from February to $2.36 per mile on average, according to an analysis of data provided by Cargo Chief, DAT Freight & Analytics, Loadsmart, and shippers and brokers surveyed by the Journal of Commerce.
Tens of thousands of small trucking companies have left the US freight market over the past year, but that has largely been offset by companies that have entered the market, and that is keeping pressure on pricing, according to Dean Croke, principal analyst at DAT Freight & Analytics.