Spot Market Freight Rates Continue Soaring

According to DAT, even though the overall freight loads are decreasing, flatbed rates are steadily on the rise . The rate reached $2.30 per mile, which is a 3.2% increase only for the period March 30 to April 5. The general availability of spot market load decreased by 3.9%, as did capacity – by 0.4%

The DAT statistics show that the van and reefer sectors stayed at almost the same levels. Vans remained at $2.10 per mile and reefers saw a slight decline to $2.27 per mile. These rates are the highest in a month. The load-to-truck ratios of these two sectors decreased, though. Vans’ ratio decreased by 6.3% and reefers’ ratio decreased by 4.6%.

Generally, demand for vans and reefers is increasing, which is not typical for the season. The overview shows that demand is stronger than supply at this stage.

Read the full article at Truckinginfo.

Eric is the Chief Marketing Officer of JW Surety Bonds. With years of experience in the surety industry, he is also a contributing author to the surety bond blog.

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