Refrigerated Spot Rates Hit Record High

​Trucking spot rates have increased considerably since electronic logging devices (ELDs) became enforced on December 18th. According to DAT Solutions, for the week ending January 6th, spot rates for dry van shipments averaged $2.30, up 10.6% from the $2.08 average reported for the week just before ELDs became law. Similarly, spot rates for refrigerated and flatbed trailers increased to $2.71 and $2.42 – up 14.8% and 4.3%, respectively, over the same period. 

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Rates increased significantly this week and, in addition to tight capacity from ELD enforcement, weather played a large role in the increase. Freezing temperatures plagued much of the nation to start 2018, and the East Coast suffered through the “bomb cyclone” in which flooding, strong winds, snow, and ice blanketed the coastal states. Florida saw its first snowfall in thirty years. The $2.71 spot rate average for reefer trailers is a record high, as the trailer type is used to keep freight from freezing.

The number of available loads increased by 27% during the week, though the number of available trucks posted on DAT load boards was up just 7.4%. The van load-to-truck ratio increased 19% to 14.7:1, which is the largest van ratio ever recorded by DAT. The flatbed ratio increased 22% to 63.5:1, and the reefer ratio increased 6% to 25.2:1.