OCEAN CONTAINER RATES (Asia to US) Spot Rates – FEU Container Rates: Asia to US East & West Coast Source: Freightos Ocean spot rates continue to set records. Asia to west coast trade lane spot rates averaged $5575, while the… Read More
May 3, 2021 Update ▼CLICK ON THE INTERACTIVE CHART TO VIEW DATA▼ DAT DRY VAN The latest numbers from DAT continue to paint a challenging picture for shippers. Spot rates (excluding broker markups) averaged $2.60 / mile for dry van,… Read More
March 21, 2021 Update If a pandemic isn’t enough, let’s throw in a polar vortex that disrupts transportation across 2/3 of the country! Contract Van Rates and Spot Van Rates CLICK ON THE INTERACTIVE CHART Shippers were hopeful that the… Read More
February 18, 2021 Update Average spot and contract rates converged in January at $2.36 / mile as the spot market cooled slightly in January. The spot market has leveled off in February, but those prices are the same level as… Read More
January 20, 2021 Update The US National average diesel price, as of January 18, sits at 2.69 / gallon, rising .31 cents since early November. After a period of both low prices and low volatility, diesel has risen 10 consecutive… Read More
NATIONAL DIESEL PRICES A bright spot for ground shippers and carriers is the continued low cost of diesel. The DOE national average has been within 4 cents of $2.40 / gallon since April. (Data Source: EIA) OIL – WEST TEXAS… Read More
Just seven months ago, we were looking at historically low spot rates. Before the pandemic, there was already pressure on the spot market due to excess carrier capacity;
Industry experts believe that we will start to see a leveling out of the spot market, but they believe that rates will remain elevated. As we get into TL contracting season, one would anticipate the TL carriers asking for substantial rate increases to bring the SPOT/CONTRACT rate delta back into balance.
I am interested in getting other’s perspectives on why spot rates are so high, as my supposition is based on feeling and not data.
The TL market continues to be surprisingly strong with no sign of slowing. From being completely dead in April, spot rates are now up over 30% from their lows this spring and are now averaging over $2.00. This is the… Read More
