Spot truckload tally surges; capacity imbalance emerges
The number of available loads on the spot truckload market jumped 36% during the week ending June 6, 2015, and capacity increased just 5.5%, according to DAT Solutions, which operates the DAT network of load boards.
A supply-demand imbalance helped push spot rates up for the week. The national average van rate rose 5 cents to $1.90 per mile, the reefer rate gained 4 cents to $2.23, and the flatbed rate edged up 1 cent to $2.19.
Typically, load and truck posts climb 20% to 25% after a holiday-shortened workweek. The capacity pressure may have been related to carriers parking trucks during Roadcheck, the commercial vehicle inspection blitz that occurred June 2-4.
In the van market, DAT reported that load posts had risen 32% but truck posts were up only 7.5%.
The imbalance sent the national van load-to-truck ratio up 23% to 3.0, meaning there were 3.0 available van loads for every truck posted on the DAT network. Average outbound van rates advanced in several key markets including Los Angeles CA, up 8 cents to $2.17 per mile; and Atlanta GA, up 11 cents to $2.17 a mile.
Demand for reefers surged 37.5% and capacity lost 1%; the load-to-truck ratio climbed 37.5% to 7.3 reefer loads per truck. Rates continue to trend down in Florida, but outbound rates are rising along the Mexican border in Texas and Arizona.
Flatbed load availability gained 38% but capacity added just 5.5%. The resulting load-to-truck ratio advanced 31% to 30.0 flatbed loads per truck.
Load-to-truck ratios represent the number of loads posted for every truck available on DAT load boards. The load-to-truck ratio is a sensitive, real-time indicator of the balance between spot market demand and capacity. Changes in the ratio often signal impending changes in rates.
Rates are derived from DAT RateView, which provides real-time reports on prevailing spot market and contract rates, as well as historical rate and capacity trends.
For complete national and regional reports on spot rates and demand, access www.dat.com/Trendlines.