Rate Trend of the Week

Retail shipments boost van rates
Retail shipments boost van rates

Spot market demand for dry van truckload shipments picked up steam again last week, with retail freight leading to tighter capacity and higher rates as we head into the Fourth of July.

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Van rates show signs of plateauing
Van rates show signs of plateauing

By and large, spring was not kind to carriers, so the higher rates we’ve been seeing in recent weeks are a welcome sign for trucking companies. If nothing else, this typical seasonal trend provides at least some piece of normality in what have otherwise been turbulent times for truckers.

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Spot rates gain momentum heading into June
Spot rates gain momentum heading into June

Truckload markets have been on the rebound for the past three weeks, but the pace of recovery sped up last week. The combination of the shorter work week and the end of the month made truck capacity harder to find, which meant freight brokers and shippers paid more for truckload shipments.

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Truckers look for bright spots as some states reopen
Truckers look for bright spots as some states reopen

Good news has been hard to come by for motor carriers this month. Truckload volumes remain well below seasonal levels on account of the COVID-19 pandemic, but there was an uptick in dry van shipments last week. That did little to keep spot rates from sliding further, though.

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Reefer freight outlook cools due to food service closures
Reefer freight outlook cools due to food service closures

Reefer carriers are starting to feel the pain of coronavirus-related closures, as volume and rates declined sharply for reefer equipment in the past two weeks. Restaurants and cafeterias are closed nationwide, which eliminates a big segment of refrigerated shippers and their freight, even as grocery stores continue to replenish inventories at an accelerated pace.

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