Fuel Updates

Fuel is at $3.83 for the week, which is up from $3.77 the previous week.

This week’s domestic trucking trends show a slight increase in spot load posts and a more significant rise in spot truck posts, even as van load-to-truck ratios decline. Nationally, freight volumes remain sluggish, and carriers continue to face fragile capacity conditions despite ongoing efforts to address the driver shortage.

Reefer Freight:

• Spot rates are at $2.44 and trending upward.
• The reefer market is tightening, shown by a significant increase in the reefer load-to-truck ratio and higher rejection rates compared to dry vans.
• Reefer carriers are in a stronger position than dry van carriers due to the tightening market and higher rejection rates, giving them greater leverage.
• For the week of November 10th–16th, the reefer load-to-truck ratio was approximately 9.0, based on a slight decrease in reefer load posts and a small decline in equipment posts.
• Overall market trends indicate ongoing softness, with lower produce volumes weighing on the reefer segment.

Van Freight:

• Spot rates are at $1.70 per mile. Rates remain higher than the previous month and year, reflecting an overall upward trend. The highest regional spot rates are in the Midwest, where carriers are earning approximately $1.90 per mile.
• Spot rates typically decline during the fall months ahead of the holiday season, so this week’s decrease aligns with historical seasonal patterns.
• The market is showing signs of stress, with a significant increase in truck capacity compared to last year, which can place downward pressure on rates.
• There has been a slight decline in spot rates and a recent dip in load posts, though overall activity has been gradually improving since October.
• Winter storms may cause delays and disruptions, particularly in northern regions, making flexibility essential for both carriers and shippers.
• Load-to-truck ratio: load posts increased by 9.1%, and truck posts increased by 18.3%, indicating a slight decrease in the ratio compared to the previous week.

Flatbed Freight:

• Spot rates are at $1.96 per mile. There was a slight weekly drop in spot rates and a significant decline in load posts, though load volumes have risen in the medium- and short-haul segments.
• Demand for heavy materials such as concrete, steel, and piping remains strong in regions with high construction activity.
• The slump in the dry van market has led some carriers to shift their focus to the flatbed sector, which may increase competition for flatbed loads.
• Port cities: Lower outbound rates in markets like Jacksonville and Savannah may indicate stronger export activity than import demand.
• Load-to-truck ratio: The ratio increased by 9.0% to 12.4, driven by a 10% rise in flatbed load availability and a 1% increase in equipment availability.

We hope you have a fantastic week! If you need any assistance or have any questions, please reach out to your RIM Representative or to our Domestic Team at RIMDomestic@rimlogistics.com.