TransCore: January spot market up over year
TransCore said its North American Freight index marked a record high for January, up 5 percent compared to January 2011.
Month-over-month, January’s spot market freight volume slipped 8 percent from December. The month-over-month seasonal decline is consistent with historic trends but less than the prior 10-year average decline of 14 percent.
Truckload freight rates increased 7.3 percent on the spot market for dry vans and 4.5 percent for flatbeds compared to January 2011, while declining 0.7 percent for refrigerated vans. The year-over-year rate increase in January continues the trend seen throughout 2011, when spot market rates rose 7.4 percent overall compared to 2010.
Rates followed seasonal patterns for January, which is typically a slow month for trucking freight volume and rates. For dry vans, rates slipped 1.5 percent compared to December. Flatbed rates declined 2.4 percent, and reefer rates slipped 6.5 percent month-over-month.
TransCore’s monthly North American Freight Index reflects spot market freight availability on the company’s network of loadboards in the United States and Canada. These rates are derived from TransCore’s Truckload Rate Index and do not include fuel surcharges. Spot market rates are paid by brokers and third-party logistics firms to the carrier.