TCI Business Capital is pleased to present the latest trucking news & information for the US freight industry. The news and information are compiled from a variety of sources across the web.
Courtesy of US Energy Information Agency
|02/08/21||02/15/21||02/22/21||Week Ago||Year Ago|
|East Coast (PADD 1)||2.845||2.898||3.001||+0.103||+0.070|
|New England (PADD 1A)||2.840||2.888||2.888||+0.074||-0.099|
|Central Atlantic (PADD 1B)||3.005||3.052||3.052||+0.080||+0.015|
|Lower Atlantic (PADD 1C)||2.740||2.798||2.798||+0.123||+0.142|
|Midwest (PADD 2)||2.748||2.852||2.852||+0.093||+0.189|
|Gulf Coast (PADD 3)||2.566||2.627||2.627||+0.095||+0.068|
|Rocky Mountain (PADD 4)||2.699||2.787||2.787||+0.069||+0.007|
|West Coast (PADD 5)||3.258||3.328||3.328||+0.104||-0.027|
|West Coast less California||2.897||2.960||2.960||+0.103||-0.009|
February 15, 2021 – Courtesy of DAT Trendlines
February 2021 Freight Rates
|Feb 15 – Feb 21 vs Feb 08 – Feb 14||Jan 2021 vs Dec 2020||Jan 2021 vs Jan 2020|
|Spot Market Loads||+18.9%
|Spot Market Capacity||-15.9%||-2.8%||-18.3%|
|Van Rates (Spot)||+8.5%||-4.1%||+25.7%|
|Flatbed Rates (Spot)||+3.4%||+0.4%||+14.7%|
|Reefer Rates (Spot)||+8.9%||-2.5%||+16.2%|
For more information on DAT products & service visit DAT.com
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. The anomaly between container shipments and load volume is due to a lack of container space.
Freightwaves.com is reporting a slight drop in their Outbound Tender Volume Index. However, increased consumer spending is a bright spot for the coming months as more areas ease Covid restrictions.
Nine of the 15 benchmark freight markets tracked by Freightwaves were positive on a week-over-week basis. The markets with the top gains were Newark, NJ, Cleveland, OH, and Laredo, TX. Markets with the biggest drops were Indianapolis, Atlanta, and Miami.
DAT.com reports truckload rates continue the seasonal decline. DAT’s February 16th Trendlines Report shows national van rate averages are at $2.29 per mile, a $.07 decrease from the January average. According to DAT, the Midwest has the highest average van rates at $2.60 per mile. The lowest average rates are in the Northeast at $2.10 per mile. DAT reports load-to-truck ratios are highest in the Northern Rockies and plains states. The lowest load-to-truck ratios are in the Southeast and Pacific Northwest.
Van Rates – Source Dat.com
Reefer freight rates are averaging $2.57 per mile, a $.04 decrease from the January average. Reefer rates are highest in the Midwest, averaging $2.98 per mile, and the lowest rates are in the Southeast, with an average of $2.25 per mile. Current load-to-truck capacity shows reefer demand is highest in the Plains states and Mississippi River states, the lowest ratios are in the Southeast and Southwest states.
Reefer Rates – Source Dat.com
National average flatbed rates are at $2.49 per mile, the same as the January average. The Midwest has the highest average flatbed rates at $2.91 per mile; the lowest rates are in the West, with an average of $2.13 per mile. Load-to-truck ratios remain high throughout most of the country. For more details, visit Dat.com.
Flatbed Rates – Source Dat.com
Turning to fuel prices, the latest Energy Information Administration data shows the national average diesel price is at $2.88 per gallon, an $.18 increase from one month ago. Regional diesel prices range from $2.63 in the gulf coast states to $3.05 in the central Atlantic region. California diesel prices are averaging $3.64 per gallon.
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TCI Business Capital has been a leader in trucking and freight factoring since 1994. From the knowledge and experience built up from years of serving clients in the trucking industry, TCI Business Capital offers customized factoring solutions for each client. For more information on our factoring programs, fill out the form on our website or call (800) 707-4845.