Spot market freight sets January record
According to TransCore’s North American Freight Index, spot market freight volume was the highest in the company’s 30-year history for the month of January.
TransCore said the spot freight market experienced a year-over-year 62 percent increase in truckload freight availability in January and set a record for same-month volume.
Load availability in January, typically a seasonally slow period for freight, declined by 2.8 percent compared to December, a small dip compared to the 15 percent average month-over-month decline from December to January of the past 10 years, according to TransCore.
Rates increased on the spot market for all truck types in January, according to TransCore’s Truckload Rate Index. Compared to January 2010, dry van rates increased by 14 percent, flatbed rates rose by 11 percent, and refrigerated rates were up by 6 percent.
Compared to December 2010, however, rates declined for all truck types in January, TransCore says: Reefer van rates decreased by 5 cents (3.4 percent), dry van rates fell by 3 cents (1.6 percent), and flatbed rates were 1 cent per mile lower. Spot market rates are paid by freight brokers to the carriers.