Trucking Industry News & Information
Read the Latest on What's Happening in Trucking Across the US
US Trucking News & Information
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.
- Mike Miranda’s 2020 Kenworth W900L
- Four large fleets set to test TuSimple self-driving tech in Southwest
- Trucking Law: Severe physical setback might not end career
- CBO Trims GDP Forecast for 2020, Lifts 2021 Projection
- YRC Worldwide Receives $700 Million Federal Loan Package
- House Clears Extension of Small Business Loan Program to August
Trucking News – US Diesel Fuel Prices
Courtesy of US Energy Information Agency
| Change from | |||||
| 06/15/20 | 06/22/20 | 06/29/20 | Week Ago | Year Ago | |
| US | 2.403 | 2.425 | 2.430 | +0.005 | -0.612 |
| East Coast (PADD 1) | 2.501 | 2.515 | 2.524 | +0.009 | -0.556 |
| New England (PADD 1A) | 2.628 | 2.631 | 2.648 | +0.017 | -0.487 |
| Central Atlantic (PADD 1B) | 2.673 | 2.694 | 2.704 | +0.010 | -0.566 |
| Lower Atlantic (PADD 1C) | 2.359 | 2.370 | 2.377 | +0.007 | -0.564 |
| Midwest (PADD 2) | 2.256 | 2.289 | 2.299 | +0.010 | -0.625 |
| Gulf Coast (PADD 3) | 2.174 | 2.197 | 2.194 | -0.003 | -0.609 |
| Rocky Mountain (PADD 4) | 2.346 | 2.353 | 2.343 | -0.010 | -0.655 |
| West Coast (PADD 5) | 2.930 | 2.945 | 2.948 | +0.003 | -0.680 |
| West Coast less California | 2.579 | 2.591 | 2.586 | -0.005 | -0.619 |
| California | 3.218 | 3.237 | 3.246 | +0.009 | -0.717 |
Trucking News – US Freight Rates
June 16, 2020 – Courtesy of DAT Trendlines
Van Rates – Source Dat.com
Reefer Rates – Source Dat.com
Flatbed Rates – Source Dat.com
Freight Trends and News:
June 2020 Freight Trends
The trucking and freight market is continuing to improve according to Freightwaves.com. Their most recent weekly Outbound Tender Volume Index shows a 23 percent increase of van loads over the last month. Freightwaves reports produce loads increased by seven percent. Nine of the 15 markets tracked by Freightwaves show positive increases in load volume. The west coast sticks out as an area of poor load volume.
The Cass Transportation Index published on June 15th reports May shipment volumes rebounded from the April drop. Year over year comparisons show a 23.6 percent drop in May 2020 compared to May 2019. The Cass Truckload Linehaul Index shows May rates posted a 5 percent drop year over year. This drop was less than the 7 percent number in April.
DAT.com’s most recent trend lines report is showing van rates at a low for the year. The report shows national van rate average spot rate are at $1.75 per mile, a $.15 increase from the May average. According to DAT, the West has the highest average van rates at $1.85 per mile, and the lowest average rates are in the Northeast at $1.41 per mile. According to DAT, load-to-truck ratios are highest in the southern half of the country, and lowest in the Northwest.
Reefer freight rates are averaging $2.10 per mile, an eight cent increase from the May average. Reefer rates are highest in the West at $2.39 per mile, and the lowest rates are in the Northeast, with an average of $1.57 per mile. Current load-to-truck capacity shows reefer demand is highest in the Southwest and lowest in the Northeast.
National average flatbed rates are at $2.02 per mile, a $.12 increase from the May average. The highest average flatbed rates are in the Midwest at $2.09 per mile, and the lowest rates are in the Northeast, with an average of $1.81 per mile. Load-to-truck ratios are highest in the Northwest and Southeast, and lowest through the rust-belt states. For more details, visit Dat.com.
Turning to fuel prices, the latest Energy Information Administration data shows the national average diesel price is at $2.40 per gallon. Regional diesel prices range from an average of $2.17 in the gulf coast states to $2.67 in the central Atlantic region. California diesel prices are averaging $3.22 per gallon.
June 2020 Freight Rates |
|||
| June 8 – 14 vs June 1 – 7 | May 2020 vs April 2020 | May 2020 vs May 2019 | |
| Spot Market Loads | +6.5% |
+79.6% | -8.5% |
| Spot Market Capacity | -0.9% | -11.8% | -9.0% |
| Van Load-To-Truck | +9.1% | +94.3% | +8.0% |
| Van Rates (Spot) | +2.1% | -2.2% | -11.0% |
| Flatbed Load-To-Truck | +0.6% | +134.4% | -1.9% |
| Flatbed Rates (Spot) | +1.3% | -1.6% | -16.3% |
| Reefer Load-To-Truck | +9.5% | +77.1% | +77.0% |
| Reefer Rates (Spot) | -0.2% | +4.9% | -5.9% |
| Fuel Prices | +0.4% | -4.1% | -24.3% |
For more information on DAT products & service visit DAT.com
Trucking and Freight Factoring With TCI Business Capital
Trucking and freight factoring is a type of financing commonly used by fleet owners to improve their cash flow. Factoring is simply the converting or selling of open receivables to a factoring company for immediate cash. Companies using invoice factoring have consistent cash to use towards fuel, payroll, maintenance, and more.
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.
