DAT, a Roper Industries subsidiary, based in Oregon, Portland, in its North American Cargo Freight Index issued data showed that the spot market rates and volume continued to follow a typically seasonal pattern.
This Index is defined by DAT as an over-all measurement of conditions up over the spot market of truckload freight services.
In February, there was a 7.9% fall in the volume of spot market, following January’s fall of 9.1%. This volume shows typically seasonal norms; yet DAT said that the dull harvests in Florida and California also led to lower volumes; adding that they are expecting a typical rebound in March, particularly speeded up with the incoming seasonal freight, including vegetables and spring fruit, construction materials and equipment and other different consumer products.
According to the types of equipment, availability of van cargo freight dropped down 21% in February, along with refrigerated volume 27% off in comparison to January, as well as flatbed trailers 26% up.
Talking about rates of spot market, reefers and vans showed a 3.5% and 6% fall respectively, in comparison to January, along with flatbeds 1.2% down, excluding fuel surcharges.
Annually, said DAT, the all-over availability of spot market cargo freight was 37% off in February, following the 35% fall in the same month. This is the fourteenth consecutive month of yearly declines, for which it blamed the mesh of abundant capacity and moderate cargo rise.
DAT also mentioned that there was an 18% fall in the total of rates paid to carriers by intermediaries for vans, while 14% for flatbeds and reefers annually.
Towards the end of 2015, Mark Montague, DAT Analyst said that the spent spot market then was within historical norms of 15%. And by the absence of interruption currently, these rates have started getting normalcy again.
Low rates of spot market contributed in the reduced level of cargo expenditures showed in the CASS’s report of cargo freight index, that Cass Information Systems released this week.