DAT Freight Index: Truckload Volumes Rise in March While Rates Decline
April 11 2019 - 7:00AM
Truckload freight volumes increased in March although ample
capacity and weather-related supply chain disruptions kept rates in
check, said DAT Solutions, which operates the largest truckload
freight marketplace in North America.
The DAT Freight Index increased 4.3 percent in March compared to
February. The index is a monthly volume indicator for
full-truckload van, refrigerated (“reefer”), and flatbed freight
transportation.
“We anticipated a bigger increase in demand for trucking
services, but unexpected events, including flooding in the Midwest
and a major tank fire in Houston, prevented the typical surge of
shipments ahead of the close of Q1,” said DAT Senior Industry
Analyst Mark Montague. “As a result, truckload rates were lower
than expected in March.”
While freight volume increased 3.7 percent for vans and 2.1
percent for reefers compared to February, the national average spot
(non-contract) van rate fell 3 cents to $1.85 per mile and the
reefer rate declined 4 cents to $2.17 per mile.
Flatbed freight was the strongest segment of the three, with a
10 percent increase in demand for available trucks. The national
average spot flatbed rate increased 2 cents to $2.35 per mile month
over month. Flatbed freight includes construction materials, heavy
equipment, and freight related to oil and gas markets.
Changes in contract rates were mixed. The van rate fell 4 cents
to $2.26 per mile, the reefer rate increased 4 cents to $2.57 per
mile, and the flatbed rate gained 2 cents to $2.61 per mile,
compared to February. Contract rates rose higher for all equipment
types compared to March 2018, however. Many contract carriers
raised prices in 2018, but the increases did not take effect until
the second half of the year.
Year-over-Year: Freight Is Abundant, and So Are
Trucks
Spot truckload rates in March were well below last year, when
load-to-truck ratios and rates were at record levels. Yet freight
volumes remained relatively strong. Van and reefer volumes declined
just 2.5 percent and 3.4 percent compared to March 2018, and
flatbed volume increased 4.8 percent year over year.
“Overall freight availability reflected a solid economy during
the month of March, with van freight volumes increasing more than 6
percent during the last week of the month,” Montague said. “There
was enough capacity to cover the demand, and as a result rates did
not rise as expected for this time of year.”
About the DAT Freight Index
The DAT North American Freight Index is based on load counts and
per-mile rates recorded in DAT RateView, with an average of 3
million freight moves per month. Spot market information is based
on transactions arranged by third-party logistics (3PL) companies,
while contract volumes and rates are arranged between shippers and
carriers, with no intermediary.
About DAT
DAT operates the largest truckload freight marketplace in North
America. Transportation brokers, carriers, news organizations and
industry analysts rely on DAT for market trends and data insights
derived from 256 million freight matches and a database of $60
billion in annual market transactions. Related services include a
comprehensive directory of companies with business history, credit,
safety, insurance and company reviews; broker transportation
management software; authority, fuel tax, mileage, vehicle
licensing, and registration services; and carrier onboarding.
Founded in 1978, DAT Solutions LLC is a wholly owned subsidiary
of Roper Technologies (NYSE:ROP), a diversified technology company
and constituent of the S&P 500, Fortune 1000, and Russell 1000
indices. DAT.com
Media Contact
Eileen Hart, Vice President, Marketing & Corporate
CommunicationsDAT SolutionsEileen.Hart@dat.com503-672-5132
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