{"id":3002,"date":"2020-10-16T19:28:16","date_gmt":"2020-10-16T19:28:16","guid":{"rendered":"https:\/\/cantruck.ca\/us-trucking-market-outpaces-us-economy-as-capacity-tightens\/"},"modified":"2025-01-10T16:44:38","modified_gmt":"2025-01-10T16:44:38","slug":"us-trucking-market-outpaces-us-economy-as-capacity-tightens","status":"publish","type":"post","link":"https:\/\/cantruck.ca\/fr\/us-trucking-market-outpaces-us-economy-as-capacity-tightens\/","title":{"rendered":"US Trucking Market Outpaces US Economy as Capacity Tightens"},"content":{"rendered":"<p>Trucking is providing one of the few bright spots to the flagging U.S. economy as\u00a0<a href=\"https:\/\/www.ttnews.com\/articles\/trucker-pay-increasing-driver-shortage-grows-industry-capacity-tightens\">tight capacity and a driver shortag<\/a>e push contract and spot rates higher across vans, flatbeds and refrigerated trucks, reports Transport Topics.<\/p>\n<p>DAT Solutions said van spot load rates in September were up 28.8% compared with a year ago. They have continued to rise in October and now average $2.46 per mile, a 9-cent increase since the beginning of the month. Flatbed rates are up 9.9% year-over-year and have jumped a nickel in the past two weeks, also to $2.46 a mile. Refrigerated rates are up 19% year-over-year \u2014 and 3 cents in the past two weeks \u2014 to $2.60 per mile.<\/p>\n<p>Bob Costello, chief economist at American Trucking Associations, told Transport Topics capacity in the industry is as tight as it has been in years.<\/p>\n<p>\u201cParts of trucking are doing very well,\u201d he said. \u201cOn the supply side, there are a number of factors that have come together that each of them on their own would not have caused a tight capacity situation, but taken together they are causing things to tighten.\u201d<\/p>\n<p>Costello said an undetermined number of fleets closed early on because of the COVID-19 pandemic, and those that are continuing to operate are likely running with fewer trucks.<\/p>\n<p>\u201cThe spot markets are very strong because there is a lot of spillover freight, Costello said. \u201cContract freight is up, but I think capacity has a much bigger impact on this issue.\u201d<\/p>\n<p>Full <a href=\"https:\/\/www.ttnews.com\/articles\/trucking-industry-economy-outpaces-us-economy-capacity-tightens\">TT story here<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Trucking is providing one of the few bright spots to the flagging U.S. economy as\u00a0tight capacity and a driver shortage push contract and spot rates higher across vans, flatbeds and&#8230;<\/p>\n","protected":false},"author":2,"featured_media":705,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center 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