BEAVERTON, Ore. — DAT Freight & Analytics (DAT) is keeping steady with the increasing truckload volume.
DAT‘s Truckload Volume Index (TVI) reported that spot truckload freight volumes in July were stable for the second straight month and up more than 10% year over year. This is a signal that more than two years of deteriorating demand for truckload services may be nearing an end, said DAT Freight & Analytics, which operates the DAT One freight marketplace and DAT iQ data analytics service.
In the Aug. 16 issued press release, the TVI, which is an indicator of loads moved during a given month, increased marginally for van and refrigerated (“reefer”) loads in July:
- Van TVI: 273, up 0.7% month over month
- Reefer TVI: 205, up 1.5%
- Flatbed TVI: 271, down 3.2%
The TVI was higher for all three equipment types compared to July 2023. The van TVI increased almost 10%, the reefer TVI was up 13%, and the flatbed TVI rose 4% year over year.
“Near-record container imports and weather-related supply chain disruptions helped drive loads to the spot market at a time when available capacity tightened,” said Ken Adamo, DAT Chief of Analytics. “The pricing environment for carriers showed signs of improvement. National average dry van and reefer spot linehaul rates in July were not year-over-year negative for the first time in 27 months.”
In the press release, DAT states that the national average spot truckload van and reefer rates held firm compared to June.
Spot rates held steady
- Spot van: $2.06 per mile, down 1 cent
- Spot reefer: $2.45 a mile, unchanged
- Spot flatbed: $2.60 a mile, down 3 cents
Going into further information, DAT states that the linehaul rates were also flat, subtracting an amount equal to an average fuel surcharge. The average van linehaul rate was $1.63 a mile, down 1 cent compared to June and the same as in July 2023. The reefer rate fell 1 cent to $1.98, a penny higher year over year. The flatbed rate declined 5 cents to $1.97, which was 6 cents lower compared to July 2023. Monthly average flatbed rates have been within an 8-cent range since January.
National average rates for contracted freight were generally unmoved:
- Contract van rate: $2.43 per mile, down 1 cent
- Contract reefer rate: $2.81 a mile, unchanged
- Contract flatbed rate: $3.11 a mile, down 3 cents
Load-to-truck ratios declined
National average load-to-truck ratios declined for all three equipment types:
- Van ratio: 4.2, down from 4.7 in June, meaning there were 4.2 loads for every van truck on the DAT One marketplace.
- Reefer ratio: 6.5, down from 7.0
- Flatbed ratio: 11.9, down from 14.6
As stated by DAT, the ratios were higher compared to July 2023, when the average van ratio was 3.6, the reefer ratio was 5.4, and the flatbed ratio was 9.4. Load-to-truck ratios reflect truckload supply and demand on the DAT One marketplace and indicate the pricing environment for spot truckload freight.
Born and raised in Little Rock, AR, Erica N. Guy decided to stay in her hometown to begin her professional career in journalism. Since obtaining her bachelor’s degree from UAPB, Erica has professionally written for several publications about several topics ranging from lifestyle, tech, culture, and entertainment, just to name a few. Continuing her love for her hometown, she joined our team in June 2023, where she is currently a staff writer. Her career goals include continuing storytelling through her writing by being the best professional writer she can be. In her spare time, Erica enjoys trying new foods, cozying up with a good book, spending time with family and friends, and establishing herself as a future businesswoman.
