Earlier this week Trendlines reported a decline in freight as capacity rose. I’m seeing this activity reflected in the rates that I captured from the past week. Van rates hit rock-bottom this past week but I expect to see them rebound soon. Flatbed rates are stable while reefer rates increased 0.5%.
Memphis, Chicago and Stockton are markets where van carriers can find a solid rate as they rebounded after a softer week. Smaller markets like Denver and Charlotte also recorded gains and may be an option to consider if you’re in that region. Vans from Los Angeles headed for Dallas may want to consider stopping in Denver first. The lanes from LA to Denver and from Denver to Dallas both increased in the past week and can provide an alternative route.
Reefer carriers have a few more options than vans. Indianapolis, Boise, Pendleton, Fort Worth, Laredo, Omaha, Charlotte, Albuquerque and Denver all recorded rate gains in the past week. Keep an eye out for Los Angeles, it may not have been a “hot market” this past week but it is likely to rebound in soon.
Vans should avoid Atlanta, if they can help it. Outbound rates recorded the largest drop in the past week (this is Atlanta’s third consecutive week over week decline). The lane from Minneapolis to Chicago dropped 25% in the past week and lanes inbound to Memphis are cooling now that the market is a hotspot.
Reefer rates from Dallas slipped 1% and Chicago followed with a 0.8% dip. These were the only major markets to record a decline. Specific lanes that recorded a significant decline were Stockton to Los Angeles, Denver to Dallas and Seattle to Los Angeles. Overall, reefer rates are pretty stable with a few hot lanes (as noted above).
For more information, visit the Rate Trend of the Week page in Trendlines. And feel free to comment with your thoughts or what you’re experiencing in the market.