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Current Freight Rates

Current Freight Rates – November 2020

November 19, 2020

The four elements that affect the trucking market show inbound container shipments are up. Load volume is down, truck capacity is up, and fuel prices are up.

Freightwaves.com reports seven of the 15 markets they track were positive on a week over week basis. Market’s with the largest gains in Outbound Tender Volume Index include Miami, Houston, and Atlanta. The markets with the biggest declines were Cleveland, Indianapolis, and Los Angeles.

Freightwave’s analysts say a high number of new motor carrier authorities being granted suggest optimism for a strong freight market heading into 2021. However, the recent surge in Covid-19 cases across the country, and the potential for more shutdowns will have a dominant effect on the freight market.

November 17, 2020 – Courtesy of DAT Trendlines 

November 2020 Freight Rates

Nov 09 – Nov 15 vs Nov 02 – Nov 08 Oct 2020 vs Sep 2020 Oct 2020 vs Oct 2019
Spot Market Loads -8.1%
-5.9% +122.1%
Spot Market Capacity +11.5% +9.7% -17.0%
Van Load-To-Truck -19.2% -20.5% +156.3%
Van Rates (Spot) +1.1% +1.1% +33.0%
Flatbed Load-To-Truck -17.2% -7.7% +243.4%
Flatbed Rates (Spot) -0.1% +1.6% +12.7%
Reefer Load-To-Truck +16.5% -10.2% +155.3%
Reefer Rates (Spot) +3.6% +0.5% +22.2%
Fuel Prices +0.5% -1.0% -21.7%

For more information on DAT products & service visit DAT.com

DAT.com’s most recent trendlines report says van rates remain strong.  The November 17th report shows national van rate averages are at $2.45 per mile, a $.05 increase from the October average. According to DAT, the Midwest and West coast have the highest average van rates at $2.66 per mile. The lowest average rates are in the Northeast at $2.05 per mile. DAT is reporting load-to-truck ratios are highest in the Northern plain’s states, the south central, and the Southwest. The load-to-truck ratios are lowest in the New England states.

Average van freight rates as of November 17, 2020

Reefer freight rates are averaging $2.67 per mile, an $.08 increase above the October average. Reefer rates are highest in the Midwest, averaging $3.04 per mile, and the lowest rates are in the Southeast, with an average of $2.22 per mile. Current load-to-truck capacity shows reefer demand is highest in the Rocky Mountain states, the lowest ratios are along the Atlantic seaboard.

Average reefer freight rates as of November 17, 2020

National average flatbed rates are at $2.43 per mile, a $.01 decrease from the October average. The highest average flatbed rates are in the Midwest at $2.74 per mile, and the lowest rates are in the West, with an average of $2.15 per mile. Load-to-truck ratios are high throughout most of the country. California, Arizona, and the northeast states have the lowest ratios. For more details, visit Dat.com.

Average flatbed freight rates as of November 17, 2020

Turning to fuel prices, the latest Energy Information Administration data shows the national average diesel price is at $2.44 per gallon. Regional diesel prices range from an average of $2.18 in the gulf coast states to $2.68 in the central Atlantic region. California diesel prices are averaging $3.24 per gallon.

Diesel fuel price map as of November 17, 2020.

US diesel prices as of November 16, 2019

 

 

Change from
11/02/20 11/09/20 11/16/20 Week Ago Year Ago
US 2.372 2.383 2.441 +0.058 -0.633
East Coast (PADD 1) 2.444 2.450 2.487 +0.037 -0.566
New England (PADD 1A) 2.556 2.554 2.552 -0.002 -0.497
Central Atlantic (PADD 1B) 2.646 2.645 2.684 +0.039 -0.562
Lower Atlantic (PADD 1C) 2.284 2.296 2.337 +0.041 -0.585
Midwest (PADD 2) 2.246 2.261 2.339 +0.078 -0.632
Gulf Coast (PADD 3) 2.131 2.132 2.180 +0.048 -0.612
Rocky Mountain (PADD 4) 2.324 2.372 2.490 +0.118 -0.742
West Coast (PADD 5) 2.920 2.937 2.990 +0.053 -0.766
West Coast less California 2.541 2.572 2.686 +0.114 -0.758
California 3.231 3.237 3.240 +0.003 -0.763

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For more information on current freight trends, as well as up-to-date news about the trucking industry, visit the trucking news and information page.

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Current freight trends

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