Trucking

Truckload Rates Hit Four-Year Peak as Capacity Constraints Tighten

Freight rates across major trucking segments reached record levels this week as fuel surcharges, limited carrier capacity, and peak-season premiums converged to drive costs sharply higher.

Spot linehaul rates for dry van freight averaged $2.25 per mile excluding fuel, up 5.5 percent from the prior week. Reefer operations saw steeper gains, with refrigerated rates reaching $2.74 per mile. Washington tree fruit shipments commanded rates 72 percent above year-ago levels despite a 6 percent volume decline in California movements.

Less-than-truckload pricing surged more than 80 percent above baseline measures, reflecting acute equipment shortages heading into the quarter's final days. Carriers maintained elevated pricing power, with industry measures of negotiating leverage climbing to 75 from 70 in seven days.

Meanwhile, global container volumes reached 17.46 million TEUs in August as ocean freight pricing hit two-year highs.