Spot market rates have been increasing throughout the first two weeks of September, for all equipment types. For example, van rates rose by $0.02 (1.6 %) on the spot market between September 1st and 14th, to a national average of $1.29 per mile for line haul only.
Spot market rates, which are paid by the broker or other third-party intermediary, are more dynamic than the contract rates paid directly by the shipper to the carrier. As a general rule, an increase in the national average rate on the spot market indicates either higher demand or constrained capacity — or both — in head haul lanes. Back haul rates don’t change as rapidly because, by definition, they don’t reflect the same level of demand.
TransCore gathers spot market rates from broker rate agreements. We post up-to-the-minute changes in the 30-day rolling average. The corresponding contract rates are derived from actual freight bills, and are updated every month. We also publish rate histories, comparisons and analyses for vans, reefers and flatbeds at www.transcoretrendlines.com. TransCore Trendlines is update on a weekly basis.