North American spot market freight volumes soften in April
PORTLAND, Ore. — North American spot market freight volumes took a hit in April, plunging 16% year-over-year.
The drop affected all equipment types, with van volumes declining 20%, reefer loads 10% and flatbed freight dropping 15%, according to the DAT North American Freight Index compiled by TransCore.
Month-over-month, the freight index fell 5.8% in April compared to March. This bucks the usual trend of freight volume increases in April. According to TransCore, inclement weather, including floods in the Upper Midwest, could be to blame for the decrease.
Compared to March, van freight fell 14%, reefer freight 17%, but flatbed loads climbed 6.6%.
Despite softer volumes, spot market freight rates rose in April across all equipment types, according to the index. Van rates rose 0.8%, flatbed rates were up 4.5% and reefer rates climbed 5.5%.
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