Executive Briefings

August Spot Market Rates for Dry Vans and Reefers Drop

Based on a 30-day rolling average ending August 13, TransCore reports that rates for dry vans slipped to $1.27 on the spot market last week, compared to an average of $1.30 per mile in July, suggesting an ease in the capacity constraints for this equipment type.  Spot market rates are those paid by the broker to the carrier.

Likewise, Reefer rates declined to $1.50 in mid-August, from a $1.52 average on the spot market in July. Contract rates for reefers held steady at $1.50 throughout the summer. Contract rates are typically paid directly by the shipper to the carrier, with no broker or other intermediary. Rates for refrigerated freight may still pick up later this month, as often happens due to increased demand from the food industry.

Finally, average flatbed rates increased by $0.03 (1.9 percent) to $1.61 per mile nationwide for line haul only on the spot market, in this week's 30-day rolling average. The sector appears to be building volume, heading into the fall.

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Based on a 30-day rolling average ending August 13, TransCore reports that rates for dry vans slipped to $1.27 on the spot market last week, compared to an average of $1.30 per mile in July, suggesting an ease in the capacity constraints for this equipment type.  Spot market rates are those paid by the broker to the carrier.

Likewise, Reefer rates declined to $1.50 in mid-August, from a $1.52 average on the spot market in July. Contract rates for reefers held steady at $1.50 throughout the summer. Contract rates are typically paid directly by the shipper to the carrier, with no broker or other intermediary. Rates for refrigerated freight may still pick up later this month, as often happens due to increased demand from the food industry.

Finally, average flatbed rates increased by $0.03 (1.9 percent) to $1.61 per mile nationwide for line haul only on the spot market, in this week's 30-day rolling average. The sector appears to be building volume, heading into the fall.

Read Full Article