DENVER – Over 80 percent of carriers reported average rate increases in the recent Second Quarter Business Expectations Survey by Transport Capital Partners. 

In fact, it was 83 percent. This compared to the first quarter’s survey where half reported average rates rising over the prior three months.

"The responses were also notable for the most reporting average rate increases over 15 percent … reflecting both breadth and magnitude in a quarter noted for high contract bid activity," said Richard Mikes, TCP Partner and survey founder.

"This lays the ground work early for more strength in the last half and likely the reason behind the high rate expectations for the year ahead reported in the same survey,” said Lana Batts, TCP Partner.

A higher share of larger carriers (over $25 million in revenue) reported rate increase up to five percent compared to smaller carriers, however 31 percent of smaller carriers reported average rate increases over ten percent compared to 21 percent of larger carriers.

"These tie into the upbeat expectations for industry volumes and rates in the coming year by carriers responding in the survey and in conversations with TCP partners," said Mikes.

The level of average rate increases over the past three months correlate with conditions forecast in an earlier TCP white paper and are generally still on target favoring carrier.