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Freight rates on the spot market, along with the number of loads available, have hit their typical seasonal slump, according to new figures released from the freight-matching service provider DAT.
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Spot market freight rates has declined across the board in the most recent week, following healthy gains the week before, according to the freight matching service provider DAT.
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Rates on the spot market soared over the past week, according to new figures from the freight-matching service provider DAT. Flatbeds led the hikes gaining 4.1% June 29 through July 5, compared to the previous seven days, hitting $2.54 per mile.
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One fleet manager says the driver shortage is even worse than is publicly being reported, with rates going through the roof on some lanes, because both fleets and shippers want to maintain a competitive advantage.
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They increased 1.1% during the second week in June compared to the first week, for an average of $2.07 per mile, with it made up of $1.59 per mile for the linehaul charge and 48 cents for the fuel surcharge.
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Compared to the same time last year, truckload linehaul costs in May averaged 5.8% higher, an increase that is consistent with those of 5.7% in April and 6% in March, according to the latest Cass Truckload Linehaul Index.
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Package delivery giant UPS on Tuesday said beginning Dec. 29, in the United States, dimensional weight will be used to calculate the billable weight of a shipment on all UPS Ground services and UPS Standard to Canada packages.
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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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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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A hike in the average rate for refrigerated cargo leads increases in all three categories for spot freight, according to new figures released by the freight matching service provider DAT.
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