Capacity in the spot truck market rose 4.7 percent during the third week of July, as reefer, van and flatbed rates dropped, according to DAT.
From the second to third week of July, reefer rates dropped by 1.7 percent, van rates declined by 1.4 percent, and flatbed rates fell by 1.2 percent. This equated to a drop of $0.04-per mile for reefers and drops of $0.03-per mile for both van and flatbed transportation.
According to DAT, “A seasonal slump in demand and rates is typical from early July through mid-August.” During the past month, reefer rates have fallen from $2.49 to $2.36, and van rates were down from $2.15 the week of July 5 to an average of $2.07 during the week of July 26. During that same period, flatbed rates fell from $2.54 to $2.44.
For June, spot rates had increased when compared to May, as spot market capacity fell by 16 percent in the same period. Van rates had climbed more than 5 percent, with reefer rates increasing by 4.7 percent, and flatbed rates inching up by 3.4 percent.