Weekly Report 05 – 02/01/2022
Van segments’ rates continue to settle from holiday-period records
Dry van and refrigerated spot rates in the system declined during the week ended January 28 (week 4), each recording a four-week slide from all-time high rates at the end of December. Flatbed rates rose after they had fallen during the prior week for only the second time in 10 weeks. Flatbed load postings also increased while the van markets saw slightly weaker volume week over week. Rates and volume in all three segments remain well above 2021 and five-year average levels, however.
Total Market demand index
Dry Van Spot Loads
Dry van load postings eased 1.8% after falling about 10% during the prior week. Dry van load gains were the strongest week over week in the South Central region; the largest decline was in the Midwest. Load postings were about 59% higher than the same 2021 week and nearly triple the five-year average for the week.
Refrigerated Spot Loads
Flatbed Spot Loads
Total Spot Rates
Total spot rates declined nearly 4 cents. Rates were 22% higher than the same 2021 week. Excluding fuel, rates were nearly 16% higher. Dry van rates declined about 10 cents and were up about 29% from the same week last year. After hitting a record to end 2021, dry van rates have decreased 19 cents in 2022. Refrigerated rates fell about 19 cents and were about 40% higher year over year. Refrigerated rates are down about 56 cents this year after surging 68 cents in the final two weeks of 2021. Flatbed rates increased about 3 cents and were about 16% higher than the same 2021 week.