Rate Trend of the Week

Spot rates stall for van freight in uncertain market conditions
Spot rates stall for van freight in uncertain market conditions

Van carriers may be glad to see February recede in the rearview, as rates and volume slid lower in a typical winter slump. As of last week, rates seemed to have hit a plateau, and truckload volumes were picking up. The much-anticipated spring recovery may be delayed or canceled, however, due to the impact of the COVID-19 coronavirus on supply chains worldwide.

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Van rates lose traction heading into winter slump
Van rates lose traction heading into winter slump

Van rates slipped below December levels after an unexpected surge in the first half of January. The national average rate dropped another penny to $1.93 per mile for vans last week, which is one cent below the December average but higher than any other month since December 2018.

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Rates beat all 2019 averages for vans and reefers
Rates beat all 2019 averages for vans and reefers

The national average van rate hit $1.98 for dry vans last week. That's 4¢ per mile above the December average and higher than any monthly rate since 2018. Freight volume rose on half of the top 100 van lanes, compared to the previous week. Volumes were much lower than in the run-up to Christmas, however.

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