Independence Day Holiday Week Sees Decline in Spot Market Freight Rates and Volumes, with Flatbed Rates Showing Resilience

SalesMoney Matters
Written By Jennifer Joslyn

Spot market freight rates and volumes experienced a decline during the Independence Day holiday week, according to the Truckstop system. Broker-posted refrigerated and dry van rates fell, and load activity decreased significantly. However, flatbed rates saw a rare increase after five consecutive weeks of decline. Overall, load activity and rates were below previous years' levels, with flatbed being the only segment showing strength.

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Independence Day Holiday Week Sees Decline in Spot Market Freight Rates and Volumes, with Flatbed Rates Showing Resilience
Independence Day Holiday Week Sees Decline in Spot Market Freight Rates and Volumes, with Flatbed Rates Showing Resilience

Spot market freight rates and volumes experienced a decline during the Independence Day holiday week, according to the Truckstop system.

Van Rates Rise, Flatbed Rates Decline for Fifth Consecutive Week
Van Rates Rise, Flatbed Rates Decline for Fifth Consecutive Week

Spot rates for van equipment increased in line with seasonal expectations, while flatbed rates experienced a slight decline for the fifth consecutive week, although not as steep as in previous weeks, according to a report by Truckstop and Freight Transport Research.

Freight trucking rates are still declining
Freight trucking rates are still declining

A decline in freight trucking rates generally means that the demand for trucking services is weaker than the supply of available trucking capacity.

Carriers forced to reduce ocean container rates with cooling demand
Carriers forced to reduce ocean container rates with cooling demand

After historically high freight rates in the maritime shipping industry clouded the sector while consumers panic-bought everything from furniture to toilet paper during the pandemic years - the rates have finally cooled off.

It’s time to close the chapter on sky-high shipping rates
It’s time to close the chapter on sky-high shipping rates

The steep decline of ocean container shipping rates has escalated over the past week, dropping 20% from the week previous.

Spot market rate decreases may indicate your fleet should revisit accounting practices
Spot market rate decreases may indicate your fleet should revisit accounting practices

Carriers should be prepared to reevaluate profitability on every lane their trucks take amid dropping spot rates.

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Spot freight rates expected to continue climbing into 2023 due to port congestion

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Jennifer Joslyn
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