Trends are always good to look at because they help to give some insight to where things might be heading in the future. Continue reading this article for some great information about recent trends.
The Truck Tonnage Index was up 3.4% year over year in May 2014. The year to date tonnage was up 2.9% over 2013, which was up 6.3% over 2012 over the same period.
The Dry Van rates in the spot markets were roughly at $2.30 on average through June 2014. This rate is approximately 7.5% above the rates for June in 2013. Some of the key contributors to this increase are tightening capacities with carriers and an annual price increase contractually.
The Flatbed rates rose to $2.39 per mile on average in June 2014, which created the largest percentage year over year rise by mode. This would reflect an increase of 11.6% over June 2013. This, too, is attributed to several factors, including shrinking availability in power and drivers and an increase in the number of tendered loads.
Through the end of the second quarter, overall volumes were up about 8% versus the second quarter of 2013 cumulatively with information given from CSX, UNP, and BNSF.
Less Than Truckload (LTL)
Through half the year of 2014, LTL reporting from the top ten domestic carriers, the average increase industry wide is around 4.9% year over year. The projection for the next 12 to 18 months is that we will see another 4.5-6% increase in average price escalation.
Check out the charts below to see a visual representation of this information.