Spot market rate activity sees a strong start to 2018, reports DAT

Spot market truckload rates kicked off 2018 where 2017 left off: in a good place. That’s the word from DAT Solutions, a subsidiary of Roper Industries in its Trendlines report for the week ending January 6.

DAT said that the primary drivers for rate gains stemmed from harsh winter weather, tight capacity, and the recently implemented ELD mandate.

And it said that the number of available loads headed up 27%, which, it said, matched up with expectations “when a full workweek follows a holiday-shortened one.” But it also observed that the number of trucks posted to its load boards saw a lower increase of 7.4% as the imbalance pushed load-to-truck ratios up for the three equipment types, with: van load-to-truck ratio at 14.7 (its highest ever van ratio); flatbed ratio up 22% at 63.5; and reefer ratio up 6% to 25.2.

In the van market, DAT cited a 26% gain in load posts, with truck posts up 6% due to truckers off over the holidays, while the national van average rate of $2.30 per mile rose 19 cents week-over-week.

Looking at specific markets for outbound van volume, Houston led the pack with an 11 cent gain to $2.02 per mile, with Chicago, up 10 cents to $3.02, and Columbus, Ohio, up 9 cents to $2.87, rounding out the top 3 for increases. Conversely, Los Angeles saw an 11 cent decline to $2.86, which was followed by Dallas, which was down 7 cents to $2.07 per mile.  

Refrigerated, or reefer, load posts increased 14% for the week ending January 6, and reefer truck posts rose 7%, as the national average for spot refrigerated rates at $2.71 per mile rose 25 cents, which DAT said was a record high, adding that demand for reefer trailers “peaked” at the end of 2017, while cold weather in various U.S. regions, where these trailers are used to keep freight from freezing, has left rates intact at record levels.