Even as shipping activity fell off during the Independence Day holiday on the spot truckload market, the average van rate surged to an all-time high during the week ending July 5, according to DAT Solutions, which operates the DAT network of load boards.
The national average van rate jumped 6 cents (3.4%) to $2.15 per mile (including fuel surcharge), a new record. Load availability and truckload capacity were stable for vans last week on a per-day basis, as overall load board activity fell 21% due to the short workweek.
Compared to the previous week, the national van load-to-truck ratio increased 1.8% to 4.4, meaning there were 4.4 loads posted for each truck available on the DAT network of load boards. The national average reefer rate rose 7 cents to $2.49 per mile as growers and grocers paid a premium to make sure fruit and vegetables reached retail outlets ahead of the July 4 holiday. The number of posted refrigerated loads on DAT load boards declined 16% and the load-to-truck ratio remained stable at 12 loads per truck.
The national average rate for flatbeds surged 10 cents (4.1%) to $2.54 per mile. The number of posted flatbed loads fell 24% compared to the previous week and capacity fell 29%, producing a 7.4% increase in the national load-to-truck ratio. The load-to-truck ratio remains robust at 46.7 posted loads per truck. Load-to-truck ratios represent the number of loads posted for every truck posted on DAT load boards. The load-to-truck ratio is a sensitive, real-time indicator of the balance between spot market demand and capacity. Changes in the ratio often signal impending changes in rates. Rates are derived from DAT RateView/p>
For complete national and regional reports on spot rates and demand, visit dat.com/Resources/Trendlines.aspx. DAT Trendlines is a weekly report on spot market freight availability, truck capacity, and rates.