Cass: TL linehaul rates up 10% in September, shipment counts remain positive
September data from Cass showed truckload linehaul rates rose 10% and freight shipments grew for the second consecutive month following a 42-month downturn. The post Cass: TL linehaul rates up 10% in September, shipment counts remain positive appeared first on FreightWaves .
In September, truckload linehaul rates increased by 10.1% year over year, according to Cass Information Systems, while the number of shipments remained positive. The linehaul index, which excludes fuel and accessorial surcharges, reached its highest absolute reading in four years. This 10% increase marked the 21st consecutive month of year-over-year growth, with a 12.9% year-over-year increase when compared to the two-year-stacked period.
However, the sequential growth rate was slightly below the year-to-date average, as spot rates and fewer contractual bids slowed down during this time of year. Despite this, the contract market is still experiencing higher rates. Shipments increased by 1.9% year over year in September, after a 2.3% increase from August. Expenditures, which include fuel, rose by 20.4% year over year, driven by surging diesel prices.
Experts believe the truckload market is in a position of strength, with capacity continuing to grow rather than decrease, and regulatory changes expected to remove unsafe operators.
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