Aided by a surging spot refrigerated freight market, national average spot truckload rates held firm for the week ended May 11. The national average reefer rate on the spot market increased to $2.15 per mile (all rates include fuel surcharge), up 3.3% week-over-week. Van rates were unchanged at $1.81 per mile while flatbed rates fell 1.8% from $2.19 to $2.15 per mile. To the numbers:
Trending Up: Houston (up 2.5% over the week) and Los Angeles (1.3%) were the only major markets with a positive rate increase above 1% for the week. Six of the top 13 van markets showed positive rate trends over the last four weeks.
On individual lanes, Atlanta to Columbus gained 16 cents (9.2%) to $1.90 per mile; Atlanta to Philadelphia was up 17 cents (7.5%) to $2.43 per mile; and Los Angeles to Denver jumped 16 cents (7.5%) to $2.39 per mile.
Trending Down: Seattle rates fell 2.6%, the largest rate decline among top markets last week.
Best Van Lanes: Columbus to Philadelphia paid $2.71 per mile last week. Atlanta to Columbus paid $1.90 per mile, a solid rate heading into the Midwest.
Trending Up: Rates increased the most in Miami (15.3%) and Lakeland, Fla. (8.5%). Out west, rates from Ontario, Calif., rose 8.4% while Phoenix rates increased 7.1%. These are all agricultural markets with produce harvests happening right now.
On individual lanes, Lakeland to Brooklyn gained 44 cents (15.9%) to $3.20 per mile. Miami to Elizabeth, N.J., also saw a jump, up 44 cents (15.7%) to $2.95 per mile. Los Angeles to Portland increased 32 cents (12.5%) to $2.88 per mile.
Trending Down: Salt Lake City rates dropped 9.8% last week, the largest decrease among top markets. Elizabeth outbound rates dipped 5.4% as rates rise on inbound produce lanes. Five of the top 14 reefer markets are still trending down over a four-week period.
Best Reefer Lane: Lakeland to Brooklyn paid $3.20 per mile last week.
Trending Up: Rates increased the most in Reno, up 17.8% over the week, and Tampa, up 15.3%. Rates in eight of the top 20 flatbed markets trended up over the past month. On individual lanes, Memphis to Dallas gained 33 cents (11.6%) to $3.18 per mile.
Trending Down: Cleveland rates dropped 6.3% last week, the largest decrease among top markets. Twelve of the top 14 flatbed markets are still trending down over the last four weeks.
Best Flatbed Lane: Harrisburg, Pa., had an outbound rate average of $2.89 last week for flatbeds, followed by Memphis at $2.87 and Savannah at $2.63.
Source: DAT® RateView (formerly the Truckload Rate Index) and DAT Network of load boards, which facilitates the matching of more than 60 million spot (non-contract) loads and trucks per year. Rates are national averages derived from the DAT Truckload Rate Index.