These statistics come from: Morgan Stanley, Get Loaded, and Georgia Logistics
Trends help us to understand where things might be heading in the near future. Below are some recent trucking industry trends and information that might help us predict where the industry will go in the future.
The U.S Truck Tonnage Index rose 3.6% year over year for the month of August and it has grown 2.9% year to date. These are great numbers to see because it shows that the industry is growing.
The Dry Van spot rates are up almost 9% year over year. For the month of September they were at $2.15/mile compared to $1.85 for September of last year (2013). About 90% of shippers have expressed seeing higher spot dry-van rates than in previous years. Only 15% of these companies have reported more availability in capacity.
Flatbed rates have also increased. They have increased over 11%. 100% of shippers have expressed seeing higher spot flatbed rates. Less than 3% of those who have expressed seeing higher spot flatbed rates have reported more available capacity.
Rail and truck volumes on intermodal services are up 8% year over year. Costs for rail and truck volumes have raised a modest 2.5% for the same tenure.
Less Than Truckload (LTL)
Less than Truckload prices have seemed to have capped recently. The prices have actually decreased approximately 3% in the third quarter of 2014 versus 2013.
Capacity continues to be an ever-growing concern as for of the largest companies in the industry are reporting a freight-to-capacity ration of between 1.2 to 1.3 loads per one truck/driver.
Check out the graphs below for a visual representation of this information.