Shipping and Logistics
Trucking Rates Show Signs of Easing
Written by Sandy Williams
December 8, 2020
Trucking spot rates are easing for the first time in nearly 220 days, says DAT Trendlines. Signs of lower rates were seen on some key lanes for all three trucking types—van, reefer and flatbed during the week ending Dec. 6.
“Despite load posts hitting a five-year record last week, increasing by 21 percent over the weekly average of the last eight weeks, rates headed south on some key lanes, which could be a sign supply is catching up to demand. The fact that overall volumes are down Y/Y and spot market volumes are up substantially is one of the features of the out-of-balance, pandemic-driven freight market,” said DAT.
Rates for flatbeds averaged $2.44 per mile so far in December, with last week’s rates highest in the Midwest at $2.75 per mile
The national load to truck ratio for flatbeds jumped to 35.82 in the week ending Dec. 6 from 24.86 during the previous week that included the Thanksgiving holiday.
Diesel fuel prices averaged $2.50 per gallon last week, up 1.6 percent.
Sandy Williams
Read more from Sandy WilliamsLatest in Shipping and Logistics
Wittbecker on Aluminum: US-China trade war clobbers cross-Pacific trade
Container shipping lines have sharply increased blank sailings on Transpacific routes in response to escalating trade tensions between the US and China.
Volvo plans to lay off up to 800 workers at US truck plants
The company cited uncertainty about freight rates and demand, regulatory changes and the impact of tariffs.
Trump signs executive order aimed at making US shipbuilding ‘great again’
President Trump on Wednesday signed an executive order meant to breathe new life into American shipbuilding and curb Chinese dominance in the sector.
Great Lakes iron ore trade fell again in March
Recall that shipments also saw a sharp decline in January.
Longshoremen ratify contract with maritime alliance
Nearly 99% of ILA members voted in favor of a new labor deal with the United States Maritime Alliance that covers workers at ports on the Atlantic and Gulf coasts.