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A measure of business conditions for shippers remained deep in negative territory in March, meaning the climate favored trucking companies, according to a newly released report.
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Truckload linehaul rates rose 5.7% in April compared to the same time in 2013 and are up 4.6% since February, according to new readings from the Cass Truckload Linehaul Index.
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Freight rates on the spot market gained little ground or fell over the past week, according to new numbers from the freight matching service providers DAT, but they gained significantly last month compared to a year earlier.
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Truckload linehaul rates spiked in March, with the Cass Truckload Linehaul Index surpassing the 120 mark, showing a 6% year-over-year increase.
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Less-than-truckload carrier Old Dominion Freight Line will increase its base rates by an average of 4.3% effective May 1.
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The less-than-truckload industry is watching to see what move Old Dominion Freight Lines makes in the annual spring tariff-hike season.
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A new report shows business conditions in the trucking industry remain positive, despite a slight downturn, amid warnings of a possible capacity shortage.
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Newly published results from a survey conducted by the trucking consultancy group Transport Capital Partners show increased optimism among trucking executives when it comes to higher freight rates and volumes.
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Con-way Freight has become the latest less-than-truckload carrier to announce it is increasing rates. It will institute a general rate hike, averaging 5.4%, applicable to non-contractual business, effective March 31.
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UPS Freight will implement a general rate increase effective March 31. The 4.4% increase applies to non-contractual less-than-truckload shipments rated on the current UPS Freight tariffs.
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