TORONTO, Ont. – TransCore Link Logistics has released a new truckload rating tool called Rate Index for the Canadian trucking industry, the company announced today.
According to TransCore, Rate Index is an easy-to-use, truckload spot rate tool based on actual transactions between shippers, brokers, and carriers. It is designed to provide insight on high, low and average spot market rates paid on freight by brokers and shippers to carriers. The rates are accurate, too, according to TransCore representatives.
“Rate Index brings much more than a reliable industry benchmark on freight rates,” says Claudia Milicevic, senior director and general manager of TransCore Link Logistics. “We believe it provides excellent insight into market rates for the lanes that carriers run and the ones that they do not. This enables carriers to respond, on demand, to market trends, providing a greater clairvoyance before quoting rates.”
The tool provides total pricing visibility to validate base rates across a wide range of other carrier rates in the system as far back as 15 months. Users can also access additional functions to: automatically view backhaul rates on searched routes; pinpoint truck-to-load ratio data that correlates rates on current and historical capacity trends; identify average rates within Canada and cross border at a glance; and calculate the appropriate line haul rate to charge customers based on fuel surcharges and additional fees.