Spot market rates have been increasing through the first two weeks of September, for all equipment types. Van rates rose by $0.02 (1.6 percent) on the spot market between September 1st and 14th, to a national average of $1.29 per mile. Spot market rates, which are paid by the broker or other third-party intermediary, are more dynamic than the contract rates paid directly by the shipper to the carrier.
Spot freight volume declined by 27 percent and truck capacity declined by 21 percent during the week of September 5 through 11, compared to the previous week. As most transportation companies were closed for Labor Day on Monday, September 6, a decline in activity of approximately 20 percent can be attributed to the shortened work week.
Spot market loads for vans declined by 27 percent and reefer loads declined by 29 percent, week over week. Flatbed loads declined by 24 percent, but flatbed equipment posts slipped by 30 percent, leading to an 8 percent uptick in the load-to-truck ratio for flatbeds.
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