TransCore index points to strength in truckload spot market

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TransCore said its North American Freight Index climbed 47 percent in August compared to the same month in 2010, marking the eighth consecutive month that spot market freight availability reached an all-time same-month high. Compared to July, spot market freight volume increased 4.5 percent in August. TransCore says the July-to-August increase is atypical; seasonally, freight volumes typically decline in August, with the average decline being 2.9 percent over the past 10 years.

Despite the increase in spot market demand, truckload freight rates, excluding fuel surcharges, remained relatively stable in August on a month-over-month basis. National average rates dipped 0.8 percent for dry vans compared to July, but increased 2.4 percent compared to August 2010. Refrigerated van rates were down 0.6 percent versus July, but rose 2.6 percent compared to August 2010. Flatbed rates lost 1.1 percent compared to July, but increased 9.6 percent versus August 2010. Spot-market rates are paid to the carrier by freight brokers and third-party logistics companies.

TransCore’s monthly North American Freight Index has been published since 1996 and reflects spot market freight availability on the company’s network of load boards in the United States and Canada.