Rates drop, continue year-end slide
As has been the case for all three segments in the last three years — except for flatbed in late 2010 — spot market rates for reefer, flatbed and dry van continue their decline after peaking in June, this time dropping a few cents each in October from September.
Along with fuel prices throughout the spring and into the summer, rates shot up, reaching their highest points since 2008 and some of their highest points since load board site Internet Truckstop began tracking in 2005. Reefer and dry van rates dropped quickly in July and August before stagnating in August and September, while flatbed saw a slow decline from its summer rates, dropping just a few cents each month.
In October, reefer dropped to $2.07 per mile, down from September’s $2.16. Flatbed dropped from $1.97 to $1.95, and van rates dropped from $1.82 to $1.80. Here are two-year trends: