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Rates for spot market freight moved significantly higher over the past week following big gains over the past month, according to the freight matching service provider DAT.
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The amount of freight carried by the for-hire transportation industry rose 0.4% in April from March, increasing for the third consecutive month, according to the U.S. Department of Transportation’s Freight Transportation Services Index released Wednesday.
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California’s Department of Transportation, known as Caltrans, will host eight public workshops between June 17 and July 24 to solicit input on the draft California Freight Mobility Plan, which lays out a vision for all the ways freight is moved, including seaports, air cargo, railroads, and trucking.
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North American freight shipments and expenditures continued to buck the historic trend and increased again in May, according to the latest Cass Freight Index.
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Less-than-truckload carrier Old Dominion Freight Line on Tuesday increased its outlook for growth in second-quarter revenue per hundredweight, excluding fuel surcharges, to a range of 3% to 3.5% from the same time in 2013.
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Freight growth gives fleets confidence to buy, while low cancellations push backlogs to six months. Tankers are also up strongly, but lack of a highway bill could upset dump-trailer business.
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The increase in pier containers pushed fiscal year 2014 volumes up by 5.5% year-over-year. April's pier container volume represented a 12.3% increase over April 2013 and a 21.7% increase over April 2012.
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The freight matching service provider DAT reports the total number of loads available increased 7.5% May 11 through May 17 compared to the previous seven days, while truck capacity grew 1.5%.
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The American Trucking Associations’ For-Hire Truck Tonnage Index increased 1.5% in April, after rising 0.6% the previous month, according to newly released figures. In April, the index equaled 129.1 versus 127.2 in March. The all-time high was in November 2013 at 131.
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Despite a 2.5% decline in the number of loads available and nearly a 1.4% increase in truck capacity on one of the nation’s biggest spot freight markets, rates have picked up.
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