Per-mile spot market rates in the three major truckload segments continued their seasonal summer slide in August, with paid rates falling at least 6 cents from July in all three and posted rates sliding at least a dime, according to data from Truckstop.com.
Rates in all three segments were also down significantly from last August, with dry van and flatbed falling by more than 30 cents year over year and flatbed falling nearly 20 cents. Though market conditions obviously are a major driver, so are lower fuel costs, which have dragged fuel surcharges — and, subsequently, rate averages — down significantly in the last 10-12 months.
Paid rates, referring to averages of verified rates paid to carriers in the month, for flatbedders fell 6 cents in August from July — the second straight 6-cent month-to-month fall in the segment. Paid rates averaged $2.20 in the month, down 29 cents from last August. Posted rates (the average of pre-negotiated rates posted by brokers and shippers) fell 12 cents in August to $1.97.
Paid reefer rates in August fell 6 cents to $2.27, while posted rates plunged for the second straight month, falling 11 cents to $2.03 — a 33-cent drop from June’s posted rate average for the segment. August’s paid reefer average was down 13 cents from August 2014.
Dry van’s paid average, meanwhile, fell 7 cents to $2.09. Posted rates in the segment fell a dime to $1.74 — a 27 cent drop since June. Paid rates also fell dramatically from last August, down 36 cents.
Here’s a look at paid vs. posted rates for all three segments in the month from Truckstop.com’s data: