PORTLAND, Ore. -- After four weeks of stable rates, TransCore's Truckload Rate Index recorded a 1.5 percent uptick in dry van rates on the spot market, in the seven days ending June 1. Normal month-end business pressures coupled with Memorial Day closures were factors in the driving up demand and dry van rates.
Across the nation's five market areas (KMAs), Los Angeles recorded the greatest increase, up 3.8 percent, with lanes to Denver up 14 percent and to Chicago up 19 percent in the final days of May. Outbound rates from Atlanta rose 1.9 percent; vans going from Atlanta to Philadelphia saw a 12 percent rate jump, while Atlanta-to-Chicago rose 11 percent.
The single greatest rate increase for a high volume, individual lane was recorded on the Memphis-to-Columbus route -- up 21 percent compared to the previous seven days.
As for other equipment rates, reefer rates trended up 1.7 percent as the late Spring produce season hit the marketplace. Flatbed rates were up 0.9 percent.
Spot market rates are rates paid to the carrier by freight brokers and other intermediaries. A more complete report of weekly and monthly rate trends can be found on TransCore Trendlines.
TransCore's truckload rate trend of the week is derived from the company's Truckload Rate Index, based on $4 billion in actual invoices updated daily for vans, reefers and flatbeds across the United States and Canada. The truckload rate trend of the week is a feature of TransCore Trendlines, a weekly online publication. Trendlines publishes key indicators from TransCore's DAT Network of load boards, a marketplace for more than 60 million loads and trucks listed annually by freight brokers, 3PLs, shippers and carriers across the United States. TransCore Trendlines also includes transportation industry data from the American Trucking Associations and the U.S. Department of Energy.