Trucking: Truckload spot market in July remains strong, says TransCore

Spot market truckload volumes in July were strong, representing the seventh straight month of record same month spot market freight availability and were up 22 percent on an annual basis, according to new data from TransCore.

By ·

Spot market truckload volumes in July were strong, representing the seventh straight month of record same month spot market freight availability and were up 22 percent on an annual basis, according to new data from TransCore.

This strong performance followed June, which saw the second highest monthly volumes in 2011, next to March, and are the two highest volumes in the 15 years TransCore has been tracking this data.

July volume was down 24 percent compared to June, and TransCore officials said that over the previous ten years July spot market load volumes have declined an average 19 percent on a sequential basis.

Shippers and carriers alike have told LM in recent weeks that the spot market is still attracting top dollar rates, as carriers are reluctant to add capacity at a time when the economic recovery appears tenuous, retail sales are flat, unemployment is high, and gas prices are about a dollar higher than they were a year ago at this time.

“Carriers today are not interested in adding capacity, because rates today are about equal to what they were in 2006,” said Lana Batts, a partner at Transport Capital Partners, in a recent interview. “The price of a truck has gone up from $80,000 to $120,000 and fuel is up, too. Everything is more expensive, and the industry is still charging 2006 rates. It is not sustainable. Trucking is not as easy of a business to get into as it was before.”

TransCore also reported that truckload freight rates were mixed on a seasonal basis in July for all equipment types, with the national average rate—excluding fuel surcharges— down 3.6 percent in July for dry vans compared to June and flat compared to July 2010. The firm said that rates for reefer vans were down 9.4 percent in July compared to June and up 0.6 percent annually. Flatbed rates were flat compared to June and up 11 percent annually.


About the Author

Jeff Berman, Group News Editor
Jeff Berman is Group News Editor for Logistics Management, Modern Materials Handling, and Supply Chain Management Review. Jeff works and lives in Cape Elizabeth, Maine, where he covers all aspects of the supply chain, logistics, freight transportation, and materials handling sectors on a daily basis. Contact Jeff Berman

Subscribe to Logistics Management Magazine!

Subscribe today. It's FREE!
Get timely insider information that you can use to better manage your entire logistics operation.
Start your FREE subscription today!

Article Topics

TransCore · Trucking · All Topics
Latest Whitepaper
Private Fleet vs. Dedicated: Which one is right for you?
Having the right fleet for your business can give you an advantage over the competition and lower transportation costs.
Download Today!
From the April 2017 Issue
While adoption rates have remained relatively flat, yard management systems (YMS) are helping logistics operations turn that important space between the loading dock and the gate into a vital link in the supply chain.
Information Management: Wearables come in for a refit
2017 Air Cargo Roundtable: Positive Outlook Driven by New Demand
View More From this Issue
Subscribe to Our Email Newsletter
Sign up today to receive our FREE, weekly email newsletter!
Latest Webcast
Maximize Your LTL Driver Adherence with Real-time Feedback
This webinar shows how companies are using real-time performance data to optimize the scheduling of their city fleets, as well as the routing of their standard, accelerated and time-critical shipments.
Register Today!
EDITORS' PICKS
2017 Salary Survey: Fresh Voices Express Optimism
Our “33rd Annual Salary Survey” reflects more diversity entering the logistics management...
LM Exclusive: Major Modes Join E-commerce Mix
While last mile carriers receive much of the attention, the traditional modal heavyweights are in...

ASEAN Logistics: Building Collectively
While most of the world withdraws inward, Southeast Asia is practicing effective cooperation between...
2017 Rate Outlook: Will the pieces fall into place?
Trade and transport analysts see a turnaround in last year’s negative market outlook, but as...