Truckload contract rate increases riding steady above 10%
The new index from SONAR shows that carriers have been trying to get rate increases since before the market turned, now they are getting what would have been the equivalent of a few years worth in one. The post Truckload contract rate increases riding steady above 10% appeared first on FreightWaves .
The latest Contract Rate Change Direction Index (CRCD.USA) for the USA has climbed to 13.11%, indicating truckload contract rate increases have remained above the 10% threshold for the past several months. This new index measures the average percentage difference between a new contract's base rate and the one it replaced, only counting changes when the old rate remained stable for more than 90 days.
The CRCD.USA is a seven-day rolling average, updated daily. It filters out short-term fluctuations and provides insight into long-term contract rate changes. With rejection rates hovering around 13% and contract rate increases steady above 10%, carriers continue to secure robust rate increases, which are proving to be durable. However, it may take time for these increases to moderate as carriers transition to more financially healthy contracts.
Written by urgent.news from FreightWaves's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
