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Freight volume highest in more than a decade

by Mary Rooney | Jul 31, 2018

2018 is shaping up to be the highest freight volume market in over a decade, according to the Cass Freight Index (CFIS.USA) on SONAR. The index is currently showing 1.31, up from 1.17 a year ago. The 12 percent increase is a reflection of strong volumes in the industry and the pricing strength is not a reflection of a declining number of trucks.  

Trucking costs are increasing steadily as well. Spot van rates grew 7.9 percent between May and June and 29 percent YoY, according to data from DAT RateView. Spot rates for flatbed and reefer trucks also grew.

While part of the cost increases may be attributed to rising fuel prices, most stems from high demand for trucking coupled with low supply of capacity and drivers. Some shippers have sought rail as an alternative to trucking given the tight capacity.

Read more from Supply Chain Dive.

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