Spot and contract pricing remained soft as seasonal patterns returned
BEAVERTON, Ore.--(BUSINESS WIRE)-- The DAT Truckload Volume Index hit new highs for January, indicating solid seasonal demand for truckload services, said DAT Freight & Analytics, operators of the industry’s largest online freight marketplace and DAT iQ data analytics service.
National average van and reefer rates slipped month over month and were down more than 30% compared to January 2022, when pricing was at historic peaks.
“Volatility gave way to seasonality last month,” said Ken Adamo, DAT’s Chief of Analytics. “After a gangbusters January last year, truckload rates followed a more typical pattern and volumes were remarkably steady.”
At 223, the DAT Truckload Volume Index (TVI) for van freight was 2.8% higher than in December and up 2.8% year over year. The refrigerated (“reefer”) TVI was 174, 3.0% higher than in December and up 3.6% year over year. The flatbed TVI was 218, up 10.7% compared to December and 12.4% higher year over year.
Lower fuel prices bring relief
National average spot van and reefer rates dipped in January but have been within a 30-cent range since June 2022.
For carriers, pricing power slipped
Van and reefer load-to-truck ratios declined, meaning less pricing power for carriers:
Contract pricing declined
About the DAT Truckload Volume Index
The DAT Truckload Volume Index reflects the change in the number of loads with a pickup date during that month; the actual index number is normalized each month to accommodate any new data sources without distortion. A baseline of 100 equals the number of loads moved in January 2015, as recorded in DAT RateView, a truckload pricing database and analysis tool with rates paid on an average of 3 million loads per month.
Spot truckload rates are negotiated for each load and paid to the carrier by a freight broker. National average spot rates are derived from payments to carriers by freight brokers, third-party logistics providers and other transportation buyers for hauls of 250 miles or more with a pickup date during the month reported. DAT’s rate analysis is based on $150 billion in annualized freight transactions.
About DAT Freight & Analytics
DAT Freight & Analytics operates the largest truckload freight marketplace in North America. Shippers, transportation brokers, carriers, news organizations and industry analysts rely on DAT for market trends and data insights based on more than 500 million freight matches and a database of $150 billion in annual market transactions.
Founded in 1978, DAT is a wholly owned subsidiary of Roper Technologies (NYSE:ROP), a diversified technology company and constituent of the S&P 500 and Fortune 500 indices.
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Annabel Reeves Corporate Communications, DAT Freight & Analytics PR@dat.com; 503-501-0143
Source: DAT Freight & Analytics