Spot Truckload Volume Surges as Capacity Slides
According to the TransCore North American Freight Index, freight volumes rose 38% in February 2011 from January 2011, and 65% from a year earlier. February’s volume levels were the highest for that month since the TransCore North American Freight Index began reporting in 1986. Spot market demand hit a record level in January as well. Flatbed volume skyrocketed 44% from January and dry van freight increased 38%. Refrigerated volume increased 30%. The dry van load-to-truck ratio was up 64% from January and 85% from a year earlier. As according to TransCore, the availability of trucks on the spot market declined 14% in February from January. That sent dry van rates up 4% and flatbed rates up 3.8% month-to-month. Demand for flatbed trucks was more than double a year ago, with the flatbed load-to-truck ratio rising 109 percent year-over-year and 62 percent from January.