Spot rates shot up again in August as supply chain shocks continue

Average rates data compiled by Truckstop.com.Average rates data compiled by Truckstop.com.

Spot market per-mile rate averages for the three major truckload segments — dry van, reefer and flatbed — soared in August, according to monthly data provided by Truckstop.com. Rates in the month continued their run of defying usual seasonal trends as freight market participants continue to grapple with the shockwaves wrought by the COVID-19 pandemic and shifting consumer habits.

Dry van’s average jumped 17 cents in August from July, reaching its highest point in two years, since August 2018. Van’s $2.40 a mile average in the month was up 56 cents from May and 28 cents from August 2019.

Reefer rates rose 11 cents a mile in August from July, to $2.46 a mile. That’s the segment’s strongest average since January 2019 and a gain of 34 cents since April’s bottom. Reefer’s average was up a dime per mile from last August’s average.

Flatbed’s average climbed 7 cents in August, to $2.49 a mile — flatbed’s best average since October 2018, and a gain of 28 cents per mile since May. Flatbed’s August average was up 16 cents a mile year over year.

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