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Spot market rates soared to multi-year highs

Spot Market Paid RatesSpot market rates in September leapt in September, according to Truckstop.com data provided to Overdrive. The gains are likely due to the impacts of catastrophic hurricanes that impacted Texas and Florida in the month, which are predicted to squeeze industry capacity and drive up rates during the coming months.

Dry van saw the biggest gains, climbing 20 cents to $2.20 a mile — the segment’s best per-mile monthly average since April 2015. September’s average outpaced September 2016’s average by 31 cents:

Spot Market Dry Van Rates

Spot market reefer rates in September jumped 16 cents, to $2.28 a mile. That’s reefer’s highest rates average since July 2015. Compared to last September, reefer rates were up 23 cents a mile:

Spot Market Reefer Rates

Flatbed gained 8 cents in the month, pushing its per-mile average to $2.42 — the highest point since September 2014 and a 38-cent gain from last September:

Spot Market Flatbed Rates

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James Jaillet is the News Editor for CCJ and Overdrive. Reach him at jjaillet@randallreilly.com.