Spot Freight Rates, Volume Post July Decline

PORTLAND, OR —  Spot market freight volume and rates declined during July, following a typical seasonal pattern, according to the DAT Solutions‘ network of load boards in Canada and the U.S.

Its North American Freight Index shows van freight levels dropped 24 percent month-over-month, refrigerated freight was down 23 percent, and flatbeds were off 33 percent, for an overall decline of 27 percent compared to June.

In contrast to last year’s record volume, July freight was 40 percent lower as volume also fell below the same-month total of 2013 for the first time this year. However, freight availability remained strong compared to 2012 and all prior years, according to the DAT.

Rates on the spot market followed the month-over-month volume trends by equipment type, declining 1.9 percent for vans, 2.1 percent for flatbeds, and 4.2 percent for reefers.

Comparing freight volume to July 2014 by equipment type, vans declined 33 percent, reefers were down 20 percent, and flatbeds dropped 50 percent.

Line haul rates declined only 0.6 percent for vans, while flatbeds lost 3.7 percent and reefers edged down 0.5 percent, year over year. However, the average total rate paid to carriers declined more steeply, due to lower diesel prices that yielded a 40 percent reduction in the fuel surcharge.

 

 

 

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