Trucking Rates Spike: Contracts at 52-Week High
Freight rates are surging! Contract rates hit a 52-week high and spot rates climbed nearly 50% year-over-year in the latest Sonar update. We’ll also cover the localized impact of Tropical Storm Isaias on tender rejections in Gulf Coast markets like Mobile and Montgomery. Plus, an exciting new Sonar release now offers intermodal rates, lanes, and […] The post Trucking Rates Spike: Contracts at…
Trucking rates have surged to a 52-week high, with contract rates reaching $2.72 per mile plus fuel, marking an 18% increase year over year. Spot rates have also climbed, with the NTI index up nearly 50% compared to previous year. This surge in rates indicates that shippers are no longer holding onto legacy pricing, giving carriers more leverage as annual bids renew.
In Gulf Coast markets, such as Mobile and Montgomery, tender rejections have remained elevated but within a narrow range of 13% to 14%. Tropical Storm Isaias has caused localized disruptions in these areas, with rejection rates for inbound truckloads rising sharply compared to the national average. FreightWaves' Weather Optics tool is tracking the storm's path and potential landfall, with a Business Impact Index indicating moderate-to-elevated disruption risk.
FreightWaves has expanded its SONAR Rate Intelligence module to include intermodal rates, comparing lanes, rail ramps, and costs against van, refrigerated, and flatbed options. This update offers shippers a more comprehensive view of their transportation choices.
Written by urgent.news from FreightWaves's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
