DAT Truckload Volume Index: Freight volumes rose in October
14 Novembre 2023 - 6:45PM
Business Wire
Line-haul rates declined for the fifth consecutive month
Dry van and refrigerated (“reefer”) truckload volumes increased
modestly in October ahead of the high-demand holiday freight
season, but truckload rates remained sluggish, reported DAT Freight
& Analytics, which operates the DAT One online freight
marketplace and DAT iQ data analytics service.
The DAT Truckload Volume Index (TVI), an indicator of loads
moved in a month, increased for van and reefer freight:
- Van TVI: 263, up 3.5% compared to September
- Refrigerated TVI: 196, up 4.3%
- Flatbed TVI: 245, down 3.2%
“The van TVI was 2.3% higher compared to last October, the first
year-over-year increase in a monthly TVI since September 2021,”
said DAT Chief of Analytics Ken Adamo. “It’s a positive sign for
freight carriers and brokers, but the expectation is for a seasonal
bump as opposed to a sustained recovery of volumes and
pricing.”
Load-to-truck ratios slipped
DAT’s national average load-to-truck ratios wavered in October,
with the van and reefer ratios dropping to their lowest points
since April:
- Van ratio: 2.1, down from 2.8 in September
- Reefer ratio: 2.9, down from 3.4
- Flatbed ratio: 6.3, down from 6.9
Load-to-truck ratios measure the number of loads posted to the
DAT One marketplace relative to the number of trucks and are a
simple indicator of demand for truckload services. Changes in the
ratio typically anticipate changes in the pricing environment.
Line-haul rates extended their downward trend
Spot line-haul rates, which subtract an amount equal to an
average fuel surcharge, for all three equipment types declined for
the fifth straight month:
- Line-haul van rate: $1.55 per mile, down 1 cent
- Line-haul reefer rate: $1.87 a mile, down 5 cents
- Line-haul flatbed rate: $1.83, down 2 cents
DAT’s broker-to-carrier benchmark spot rates also decreased. The
spot van rate averaged $2.09 per mile, down 2 cents compared to
September, and the reefer rate dropped 6 cents to $2.46 per mile.
The flatbed rate was $2.48 a mile, 3 cents lower month over
month.
Spot pricing remained well below year-ago levels when the
benchmark line-haul van rate was $1.77 a mile, the reefer rate was
$2.08 and the flatbed rate was $2.07.
Benchmark rates for contracted freight declined as well. The DAT
contract van rate decreased 2 cents to $2.57 per mile, the reefer
rate fell 4 cents to $2.97 and the flatbed rate dropped 7 cents to
$3.13.
The gap between spot and contract van rates has remained at 48
cents for three months. That’s 15 cents a mile less than in October
2022, when the average spot rate was $2.43 and the contract rate
was $3.06.
About the DAT Truckload Volume Index
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. A baseline of 100 equals the number of loads
moved in January 2015, as recorded in DAT RateView, a truckload
pricing database and analysis tool with rates paid on an average of
3 million loads per month.
Spot truckload rates are negotiated for each load and paid to
the carrier by a freight broker. National average spot rates are
derived from payments to carriers by freight brokers, third-party
logistics providers and other transportation buyers for hauls of
250 miles or more with a pickup date during the month reported.
DAT’s rate analysis is based on $150 billion in annualized freight
transactions.
About DAT Freight & Analytics
DAT Freight & Analytics operates the largest truckload
freight marketplace in North America. Shippers, transportation
brokers, carriers, news organizations and industry analysts rely on
DAT for market trends and data insights based on more than 400
million freight matches and a database of $150 billion in annual
market transactions.
Founded in 1978, DAT is a business unit of Roper Technologies
(Nasdaq: ROP), a constituent of the S&P 500 and Fortune 1000
indices.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20231114782250/en/
Annabel Reeves Corporate Communications, DAT Freight &
Analytics PR@dat.com / annabel.reeves@dat.com; 503-501-0143
Stephen Petit SiefkesPetit Communications 425-443-8976
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