It's hardly news that US freight costs are soaring, with a growing number of companies citing rising transport costs as significantly impacting their bottom lines. Food giant Tyson, for example, says it expects to spend $200 million more on transportation in 2018 than it did last year.
Well a picture is worth 1000 words - the whole purpose of our Supply Chain Graphic of the Week.
So here is a chart from DAT Solutions showing spot rates in the US truckload market for the past four years.
As can be seen, spot rates have soared since the middle of last year. In fact, the national average spot van rate was $2.26 per mile in January, up 15 cents compared to December and 59 cents higher than January 2017, to set an all-time record. January’s spot rate also exceeded the average contract rate by 14 cents.
At $2.66 per mile, the national average spot reefer rate was 18 cents higher month over month and 71 cents higher compared to January 2017. As with vans, the reefer rate was higher than any monthly average since at least 2010, when DAT began tracking spot market freight rates.
DAT adds that the reefer spot rate was 31 cents higher than the average contract rate, "an extraordinary gap for reefer freight in January."
And there is no end in sight.
Any Feedback on our Supply Chain Graphic of the Week? Let us know your thoughts at the Feedback section below.
Your Comments/Feedback
|
