FTR (Freight Transport Intelligence), of Bloomington, Indiana, reports that the truck spot market was the tightest ever - by far - from June 2-8 with the ratio of loads available to trucks available as rated by the Market Demand Index (MDI), was 77.7 to 1.
Spot rates for dry van truckloads hit all-time highs on DAT Solutions load boards in the week that ended June 23, reports IHS Media.
Higher pricing drew more truckers to the spot market, but did not change prices. The DAT national average spot dry van rate rose a cent to US$2.31 per mile, with rates moving higher on 64 of the load matching firm's top 100 van lanes, DAT said.
Truckload spot rates are now back at the previous highs seen in January, during the first month of the electronic logging device mandate.
Produce demand is pushing up refrigerated rates, and claiming capacity. If shippers get to catch a breath this summer, it won't be a long or deep one.
The previous high was 61.9 from April 2-8, reported the American Journal of Transportation. To put these numbers in perspective, the five-year average is 23.8 for June 4-10 and 17.5 for June 2-8. The imbalance in the spot market was more than three times the usual imbalance.
The MDI measures the ratio of loads posted on the Truckstop.com load board versus the number of trucks that have posted availability. It is a relative measure of capacity tightness in the spot market.
The higher the figure the tighter the market = better for carriers (ie pricing), the lower the figure the looser the market (more capacity relative to demand) = better for shippers (availability of capacity and pricing).
Spot rates for dry van truckloads hit all-time highs on DAT Solutions load boards in the week that ended June 23, reports IHS Media.
Higher pricing drew more truckers to the spot market, but did not change prices. The DAT national average spot dry van rate rose a cent to US$2.31 per mile, with rates moving higher on 64 of the load matching firm's top 100 van lanes, DAT said.
Truckload spot rates are now back at the previous highs seen in January, during the first month of the electronic logging device mandate.
Produce demand is pushing up refrigerated rates, and claiming capacity. If shippers get to catch a breath this summer, it won't be a long or deep one.
The previous high was 61.9 from April 2-8, reported the American Journal of Transportation. To put these numbers in perspective, the five-year average is 23.8 for June 4-10 and 17.5 for June 2-8. The imbalance in the spot market was more than three times the usual imbalance.
The MDI measures the ratio of loads posted on the Truckstop.com load board versus the number of trucks that have posted availability. It is a relative measure of capacity tightness in the spot market.
The higher the figure the tighter the market = better for carriers (ie pricing), the lower the figure the looser the market (more capacity relative to demand) = better for shippers (availability of capacity and pricing).