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Freight transportation capacity has been subject to enormous pressure from a number of sources for a little more than a year, leading to higher rates and even jeopardizing some long-standing business relationships
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The increases happened despite a 19% drop in the total number of spot market loads available, due to an end-of-month push that coincided with Labor Day weekend.
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North American freight volumes bounced back in August from a normal July dip, but it did not lead to a similar increase in freight spending, according to the Cass Freight Index.
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The number of posted loads on the spot-freight market outpaced available truckload capacity across all three major equipment types Aug. 24 through Aug. 30 compared to the previous seven days, however, rates generally remained in a holding pattern.
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The summer doldrums appear to have kicked in on the spot freight market, with rates barely moving for the second straight week, according to the freight matching service provider DAT.
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Linehaul rates for truckload shipping continue to rise, according to the latest Cass Linehaul Rate Index. On average, North American shippers paid 7.2% more in July of this year than last in their truckload linehaul rates.
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Spot market freight availability has increased nicely in the most recent period while rates appear to have ended their recent decline, according to the freight matching service provider DAT.
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The amount of freight available on the spot market remained stable over the past week, while rates have improved little if any, according to freight matching service provider DAT -- but things could turn around soon.
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The freight logistics sector slowed in July, following a seasonal trend, with both freight shipments and freight payments down 3.9% from the previous month, according to the latest Cass Freight Index.
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Truckload freight availability remained elevated in July compared to previous years despite a seasonal dip, according to the DAT North American Freight Index released Friday.
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