DAT Truckload Volume Index: March spot rates drop on modest volumes
April 16 2024 - 9:20AM
Business Wire
Spot truckload rates continued to slide in March as demand for
trucking services moved toward typical seasonal levels, reported
DAT Freight & Analytics, which operates the DAT One online
freight marketplace and DAT iQ data analytics service.
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(Graphic: DAT Freight &
Analytics)
The DAT Truckload Volume Index (TVI), an indicator of loads
moved in a month, increased modestly for all three equipment types
compared to February:
- Van TVI: 260, up 4.0%
- Refrigerated TVI: 200, up 2.6%
- Flatbed TVI: 242, up 4.4%
Volumes typically increase from February to March, which had two
more shipping days this year. “The decline in van and reefer spot
rates coincided with the demand for truckload services picking up
marginally toward the end of the month,” said Ken Adamo, Chief of
Analytics, DAT Freight & Analytics. “There were no big swings
or signs that spot-market volumes or capacity will change beyond
what we expect from produce, construction materials, and summer
retail goods starting to move.”
Van and reefer rates fell
The national average spot van and reefer rates fell for the
third straight month.
- The van rate averaged $2.01 per mile, down 6 cents compared to
February and 15 cents lower year over year.
- The reefer rate fell 8 cents to $2.35 a mile, down 15 cents
year over year.
- The flatbed rate rose 1 cent to $2.50 a mile, down 21 cents
year over year.
Line-haul rates subtract an amount equal to an average fuel
surcharge (46 cents per mile for vans, 50 cents for reefers, and 55
cents for flatbeds). The line-haul van rate averaged $1.55 per
mile, down 5 cents compared to February, and the average reefer
rate was $1.85 a mile, down 7 cents month over month. The average
line-haul flatbed rate was $1.95, up 2 cents month over month.
Contract rates made gains
Rates for contracted truckload freight declined for van and
reefer freight. The DAT iQ benchmark contract van and reefer rates
dipped 3 cents to $2.48 and $2.86 a mile, respectively. The flatbed
rate gained 4 cents to $3.18.
The margin between spot and contract rates increased for all
three equipment types. It was 47 cents for van freight, 51 cents
for reefers, and 68 cents for flatbeds. A lower spread typically
indicates more pricing power for motor carriers.
About the DAT Truckload Volume Index
The DAT Truckload Volume Index reflects the change in the number
of loads with a pickup date during that month. A baseline of 100
equals the number of loads moved in January 2015, as recorded in
DAT RateView, a truckload pricing database and analysis tool with
rates paid on an average of 3 million loads per month.
DAT benchmark spot rates are derived from invoice data for hauls
of 250 miles or more with a pickup date during the month reported.
Line-haul rates subtract an amount equal to an average fuel
surcharge.
About DAT Freight & Analytics
DAT Freight & Analytics operates the largest truckload
freight marketplace in North America. Shippers, transportation
brokers, carriers, news organizations, and industry analysts rely
on DAT for trends and data insights based on more than 400 million
freight matches and a database of $150 billion in annual market
transactions.
Founded in 1978, DAT is a business unit of Roper Technologies
(Nasdaq: ROP), a constituent of the Nasdaq 100, S&P 500, and
Fortune 1000.
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version on businesswire.com: https://www.businesswire.com/news/home/20240416072308/en/
Annabel Reeves Corporate Communications, DAT Freight &
Analytics PR@dat.com / 503-501-0143
Stephen Petit SiefkesPetit Communications 425-443-8976
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