Rates continued tumble in February

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Spot market rates in February continued a now three-month-long downward slide in February, save for a one-penny increase in flatbed rates.

Flatbed rates have been mostly stagnant since September, and they’ve fallen just 18 cents since June 2012’s peak. In the same span, reefer rates have dropped 52 cents and van rates have dropped 35 cents.

Reefer rates dropped 10 cents in February alone — their lowest point since February 2012, when they were $1.78. Van rates dropped 4 cents in February to $1.70, marking their lowest point since February 2012, too, when they were $1.63.

Flatbed’s one-cent rise brought rates to $1.95 per mile — a two-cent increase over its February 2012 mark.

Van and reefer rates spiked in November from October, but have been nearly free-falling since. Van rates have fallen 30 cents since November, and reefer rates have fallen 32 cents.

Rates are much higher than their 2009, though, when flatbed got $1.32 a mile, reefer $1.46 and van $1.25.

Here’s a look at rates since June 2010:

february rates