2017 Ends with Record Domestic Rates
They Just Keep on Going Up
The last few weeks of the year are always logistically crazy, however, this year van rates and load ratios were at an all time high. The combination of frigid weather and tight capacity due to both the holiday and the recent ELD Mandate, which was implemented on December 18, 2017, led to an even higher increase in domestic transportation van rates. Load-to-truck ratios surged, setting a new all time record high of 12.2 loads per truck for vans the last week of Decemer, then 14.7 loads per truck this past week. Spot rates also reached historic highs.
Information derived from DAT Solutions:
Van Rate Hits $2.11 Per Mile
Dec 24 – 30 – Christmas week brought the highest national average van rate in three and a half years, bumping up 2¢ to $2.11 per mile.
Flatbed Rate Holds Steady
Dec 24 – 30 – The national average flatbed rate held steady at $2.33 per mile, just 1¢ lower than the peak rate in October.
Reefer Rate Rises to $2.46
Dec 24 – 30 – The national average reefer rate jumped 6¢ to $2.46 per mile, its highest mark since July of 2014.
What is the Electronic Logging Device Mandate?
The ELD mandate requires that truckers use electronic logging devices to monitor driving hours to adhere to current driving time regulations, also known as the hours-of-service (HOS rules) regulation. These rules dictate how much a driver can work before being required to take some mandatory time off. You can view the hours of service rules here.
Get Briefed on Domestic
Scarbrough Experts on domestic transportation are coming together to answer your questions via our question/answer forum webinar on Wednesday, February 21, 2018 at 1:30 CST. Join us with Domestic Shipping experts and learn about the basics of domestic shipping including types of equipment, best practices, what to look out for, new regulations, market updates and more.
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