Spot Market Truckload Volumes Disappoint in May
June 11 2019 - 11:14AM
Spot truckload freight volumes failed to meet expectations in May,
said DAT Solutions, which operates the largest truckload freight
marketplace in North America.
The number of full-truckload van loads moved on the spot market
declined 12% in May compared to April, according to the DAT
Truckload Volume Index. Van load counts were down 10% compared to
May 2018. Van trailers haul approximately 70% of all truckload
freight.
“Simply put, May was a disappointment in terms of load counts,”
said DAT Senior Industry Analyst Mark Montague. “We’re accustomed
to seeing higher volumes of retail goods, fresh produce,
construction materials, and other seasonal spot truckload freight
moving through supply chains at this time of year.”
Trade and Tornadoes
Uncertainty over trade agreements and slumping imports from
China seemed to dampen truckload demand. Record rainfalls,
flooding, and tornadoes also hampered freight movements in many
parts of the country.
Agriculture producers saw their supply chains disrupted by the
weather, with many harvests ruined or delayed. As a result,
refrigerated (“reefer”) volumes declined 8.3% month over month and
fell 12% year over year.
Flatbed load volume, which includes heavy machinery and
construction material, dropped 9.3% month over month and 3.1% year
over year.
Freight Rates Retreat
Spot truckload rates continued to track well below last year’s
record levels.
Compared to April, the national average spot van rate was
virtually unchanged at $1.80 per mile, including a fuel surcharge.
That’s 35 cents below the average for May 2018. The average reefer
rate was $2.15 per mile, 1 cent higher than April and 38 cents
lower than May 2018. The flatbed rate averaged $2.27 per mile, down
5 cents compared to April and 45 cents lower year over year.
“After a lackluster May, June is shaping up to be a pivotal
month for trucking,” Montague said. “We will know soon whether the
volumes we expected in May were simply delayed. If so, the pent-up
demand could boost seasonal volumes at the close of Q2.”
About the DAT Truckload Freight Volume
Index
The DAT Truckload Freight Volume Index is based on load counts
and per-mile rates recorded in DAT RateView, with an average of 3
million freight moves per month. Spot market information is based
on transactions arranged by third-party logistics (3PL) companies,
while contract volumes and rates are arranged between shippers and
carriers, with no intermediary.
About DAT
DAT market trends and data insights are derived from 256 million
annual freight matches and a database of $60 billion in annual
market transactions. Related services include a comprehensive
directory of companies with business history, credit, safety,
insurance, and company reviews; broker transportation management
software; authority, fuel tax, mileage, vehicle licensing, and
registration services; and carrier onboarding.
Founded in 1978, DAT Solutions LLC is a wholly owned subsidiary
of Roper Technologies (NYSE:ROP), a diversified technology company
and constituent of the S&P 500, Fortune 1000, and Russell 1000
indices. www.DAT.com
Media Contact
Eileen Hart, Vice President, Marketing & Corporate
CommunicationsDAT Solutionseileen.hart@dat.com503-672-5132
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/e34cc35f-357f-4488-9cee-6ffc43fb08b0
Roper Technologies (NYSE:ROP)
Historical Stock Chart
From Apr 2024 to May 2024
Roper Technologies (NYSE:ROP)
Historical Stock Chart
From May 2023 to May 2024