DAT: Truckload Rates Heat Up in June, as Spot Market Volumes Beat 2018 Levels
July 12 2019 - 2:34PM
Spot market rates for dry van and refrigerated (“reefer”) shipments
in June were the highest since January, according to DAT Solutions,
which operates the largest truckload freight marketplace in North
America.
The uptick in pricing came as truckload capacity was more
constrained in June.
“The annual Roadcheck inspection blitz limited truck
availability in the first week of the month,” said Peggy Dorf,
Market Analyst with DAT Solutions. “The urgency to move shipments
before the close of Q2 sustained those price increases through the
end of the month.”
Spot market van freight volume was 4.4 percent higher in June
2019 than in June 2018, according to the DAT Truckload Volume
Index, which reflects the change in the actual number of loads
moved each month. Compared to the first six months of 2018, van
volume was 7 percent higher in the first half of 2019.
The DAT Truckload Volume Index showed a 5 percent decline from
May to June, a common trend in recent years.
The national average van rate for June was $1.89 per mile,
including fuel surcharges, which was 10 cents higher than May’s
average. Year over year, the national rate was 43 cents lower, but
the June 2018 average was also the highest van rate ever
recorded.
The national reefer rate rose to $2.25 per mile, another 10 cent
increase from May. The June reefer average was 46 cents short of
the record set in June 2018. Reefer volume fell month-over-month
for the third year in a row, as agricultural producers continue to
grapple with disruptions due to unpredictable weather. Reefer load
counts fell 5 percent compared to May. Compared to June 2018,
reefer volume was up 1.3 percent.
The price for flatbed shipments averaged $2.30 per mile in June,
3 cents over the May average and 52 cents below another record rate
set in June 2018. Volume dipped 2.4 percent compared to May, a
seasonal trend that also mirrored the past two years. The volume of
flatbed loads added 9 percent compared to June 2018.
“June is often considered a peak month for the spot market, but
that’s truer for rates than volumes,” said Dorf. “We expect spot
market volumes to gain strength in the second half of this year,
although rates probably will not rebound to 2018 levels."
About the DAT Truckload Freight Volume
Index
The DAT Truckload Freight Volume Index reflects the change in
the number of loads with a pickup date during that month; the
actual index number is normalized each month to accommodate any new
data sources without distortion. Baseline of 100 equals the number
of loads moved in January 2015, as recorded in DAT RateView, a
database of rates paid on an average of 3 million loads per month.
DAT national average spot rates are derived from RateView and
include only over-the-road lanes with lengths of haul of 250 miles
or more. Spot rates represent the payments made by freight brokers
and 3PL to the carriers.
About DAT
DAT market trends and data insights are derived from 256 million
annual freight matches and a database of $65 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. www.DAT.com
Media ContactEileen Hart, Vice President, Marketing &
Corporate CommunicationsDAT
Solutionseileen.hart@dat.com503-672-5132
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/ae52f7df-b177-41cc-aa5c-0312656c11ab
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