Holiday Week brings big hike in spot van rates

July 10, 2014
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.

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.