BEAVERTON, Ore.–( BUSINESS WIRE )–Demand for trucks in the local market picked up in December, buoyed by strong retail and grocery sales ahead of the holidays, said DAT Freight & Analytics, which operates the DAT One and DAT iQ marketplaces. . data analysis service.
The van and refrigerator Truckload Volume Index (TVI) increased modestly compared to November:
- From TVI: 260, up 2.4%
- Frozen TVI: 220, up 3%
- Flatbed TVI: 237, down 5%
Year over year, van and reefer TVI were up 12% and 20%, respectively, and flatbed TVI was 7% higher.
December shipments were strong despite calendar quirks, said Ken Adamo, DAT Chief of Analytics, noting that Christmas fell on a Wednesday and there were only three non-holiday weeks between Thanksgiving and the end of the year. A combination of seasonal volumes, fewer shipping days, and truckers taking time off for the holidays led to higher prices compared to November. Fuel, van rates were the highest monthly rate since January 2023.
Truck prices have skyrocketed
National average rates increased for all three types of equipment:
- Spot van: $2.11 per mile ($1.74 fuel net), up 9 cents compared to November
- Spot reefer: $2.47 ($2.06 net fuel), up 2 cents
- Flatbed: $2.39 ($1.94 net fuel), up 2 cents
National average contract and flatbed rates rose last month:
- Contract van price: $2.42 per mile, up 2 cents
- Contract referral rate: $2.74 per mile, unchanged
- Flatbed contract rate: $3.06 a mile, up 3 cents
The difference between van and reefer spot and contract prices narrowed for the fourth straight month and was the narrowest since March 2022, when spot prices entered their worst period of decline, Adamo said. When the gap between spot and long-term contract prices narrows, it's a sign that volume is tightening and bargaining power is shifting to truckers.
About DAT Truckload Volume Index
The DAT Truckload Volume Index shows changes in the number of loads and pickup dates for that month. The base 100 is equal to the number of loads delivered in January 2015, as recorded in DAT RateView, a truck price database and analysis tool and the taxes paid on an average of 3 monthly loads.
DAT benchmark spot rates are derived from invoice data for pickups of 250 miles or more and pickup dates during the specified month. Linehaul rates charge an amount equal to the average fuel charge.
About DAT Freight & Analytics
DAT Transportation & Analytics operates both the largest bulk freight marketplace and truckload data analysis service in North America. Shippers, freight brokers, carriers, media organizations, and industry analysts rely on DAT for market trends and data insights based on more than 400 million annual freight transactions, and a database of $150 billion in annual freight market transactions.
Founded in 1978, DAT is a business unit of Roper Technologies (Nasdaq: NASDAQ:), a constituent of the , , and Fortune 1000. DAT is headquartered in Beaverton, Ore.. Visit dat.com for more information
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DAT Connect
Georgia Jablon
PR@dat.com / georgia.jablon@dat.com
Source: DAT Freight & Analytics