The shutdowns related to the pandemic have had a big effect on the trucking industry. Fortunately, a recent comparison of the spot rate national average recorded in March 2020 and June 2020 revealed encouraging improvements. Take a closer look at these significant changes.
Flatbed carriers have an important connection with the manufacturing, construction, and energy industries. In June 2019, the national average for spot rates was $2.30 a mile. A year later, the national average is still below that level.
But, according to a June 15th, 2020 article in American Trucker, load volumes have reportedly risen by, “…2.2% on DAT’s top 78 flatbed lanes and the national average flatbed load-to-truck ratio poked above 21 last week.” Twenty loads per truck was the top level reached back in 2019.
The rise of summer temperatures in cities around the Great Lakes has increased the area’s demand for refrigerated trailers. American Trucker reports, “…Grand Rapids, Mich., to Philadelphia, rose 25 cents to an average of $2.86 per mile compared to the previous week.” (June 15th, 2020)
The American Trucker article goes on to state that the rates for 16 reefer lanes fell last week in the southern part of the country. Seven of the 16 reefer lanes are from the Florida cities Lakeland and Miami.
Regarding vans, American Trucker (June 2020) states, “Load volumes increased by double-digit percentages in virtually every major van market.” Two essential freight markets, Los Angeles and Chicago experienced especially large increases in load volumes.