Truckload volume surged and spot and contract freight rates hit new highs in August as logistics managers stare down their most challenging peak shipping season yet.
The DAT Truckload Volume Index (TVI) rose to 231 last month, up 2% from July and 17% higher year over year. The index is an aggregated measure of dry van, refrigerated and flatbed loads moved by truckload carriers and an industry-standard indicator of commercial freight activity.
“Shippers and logistics managers who would normally be gearing up for peak shipping season have encountered one test after another in terms of their ability to manage transportation pricing, capacity and supply chain disruptions,” Ken Adamo, chief of analytics at DAT Freight & Analytics, said. “There’s no easy path through this freight environment.”
Spot van, reefer rates set records
Spot load postings increased 12%
Contract rates, fuel prices rise
The DAT Truckload Volume Index reflects the change in the number of loads with a pickup date during that month; the actual index number is normalized each month to accommodate any new data sources without distortion. Baseline of 100 equals the number of loads moved in January 2015, as recorded in DAT RateView, a database of rates paid on an average of 3 million loads per month. DAT national average spot rates are derived from RateView and include only over-the-road lanes with lengths of haul of 250 miles or more. Spot rates represent the payments made to carriers by freight brokers, third-party logistics providers and other transportation buyers.
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