Press release
DAT Truckload Volume Index: July freight volumes and rates chilled by seasonality
BEAVERTON, Ore.--(BUSINESS WIRE)-- Truckload freight volumes fell last month and national benchmark spot rates for dry van and refrigerated (“reefer”) loads
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[{"type":"text","content":" BEAVERTON, Ore.--(BUSINESS WIRE)--\nTruckload freight volumes fell last month and national benchmark spot rates for dry van and refrigerated (“reefer”) loads retreated from their gains in June, reported DAT Freight & Analytics, which operates the industry’s largest online freight marketplace and DAT iQ data analytics service.\n\nThis press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230818042461/en/July freight volumes and rates chilled by seasonality (Graphic: DAT Freight & Analytics)\nThe DAT Truckload Volume Index (TVI), a measure of loads moved during a given month, was lower in July for all three equipment types:\n\n\n\nVan TVI was 226, down 7.0% from June and 3.0% lower year-over-year.\n\n\n\nReefer TVI slipped to 169, 3.4% lower than in June but 1.2% higher year-over-year.\n\n\n\nFlatbed TVI was 238, 12.8% lower compared to June but 3.5% higher year-over-year.\n\n\n\n“Shippers faced service disruptions at the ports and in the less-than-truckload sector but were able to secure van capacity without causing the needle to move on spot rates and volumes,” said Ken Adamo, Chief of Analytics.\n\n\nDespite month-over-month declines, the reefer and flatbed TVI numbers were the highest on record for July as fresh and frozen food, metals, machinery, construction materials and other seasonal freight moved through supply chains.\n\n\nDemand for trucks slowed\n\n\nNational average load-to-truck ratios for van and reefer freight have been virtually unchanged for three straight months:\n\n\n\nThe van ratio was 2.6, equal to June and down from 3.8 in July 2022.\n\n\n\nThe reefer ratio was 3.8 - unchanged from June and down from 7.2 a year earlier.\n\n\n\nThe flatbed ratio was 7.1, down from 9.7 in June and significantly down from 21.8 in July 2022.\n\n\n\nSpot, contract rates dipped\n\n\nReflecting flat demand, DAT’s benchmark spot rates slipped in July:\n\n\n\nThe spot van rate was $2.07 per mile, down 1 cent compared to June and 56 cents lower than in July 2022.\n\n\n\nThe spot reefer rate dipped 3 cents to $2.44 per mile and 60 cents lower year-over-year.\n\n\n\nThe spot flatbed rate was $2.54 a mile, down 7 cents month over month and 72 cents lower year-over-year.\n\n\n\nLine-haul rates, which subtract an amount equal to a fuel surcharge, declined as well. DAT’s benchmark van line...