September truckload demand at an all-time high
PORTLAND, OR – The DAT North American Freight Index is reporting a soaring demand for truckload capacity last month.
Spot fright demand was at an all-time high in September, with a 74% gain over the same month in 2016. The increase was the largest seen since 2010.
The van market saw the biggest increases, with freight in that market rising 15% over August, and 80% over the same period last year.
The U.S. national average spot van rate rose to US $1.97 per mile from US $1.78 USD in August, and US1.62 in September 2016.
Demand for truckload capacity is already at a premium due to economic growth and seasonal freight activity, the addition of hurricanes Harvey and Irma caused demand to spike.
Late harvests in California, along with Midwest and Pacific Norwest harvest, increased demand for refrigerated (reefer) capacity, with a 4% increase from the month before and a 70% increase year-over-year, pushing rates to USD$2.23 per mile.
Flatbed freight activity, which typically declines in September, also saw a 3% bump from August.
DAT industry analyst Mark Montague expects higher demand for truckload capacity to continue at least through December because of holiday-related e-commerce freight.
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