March 2022 Freight Rate & Trucking Update
Hello, welcome to the March 2022 freight rate and trucking update from TCI Business Capital. Here’s what’s happening out on the road. The four elements that affect the trucking market show inbound container shipments are up. Load volume is down, truck capacity is up, and fuel prices are up. Cass Information Systems has released the Transportation Index Report for February. Cass reports the shipments component in February rebounded from the January Omicron impact. February’s shipment index was up 8.8% from January and up 3.6% year over year. The Cass Truckload Linehaul Index rose 12.8% year over year. Cass states excess miles, rising fuel surcharges, and accessorial fees are not factored into the index. DAT’s March 15th Trendlines Report shows a different story. Current national van rate averages are at $3.07 per mile, a $.02 decrease from the February average. According to DAT, the highest average van rates are in the Midwest at $3.45 per mile. The lowest average van rates are in the Southcentral at $2.80 per mile. DAT reports the current national load-to-truck ratio is 4.72 loads to truck, compared to the February 20th average of 6.99. Ratios are highest east of the Rockies. The lowest ratios are in California and the Pacific coast states. Reefer freight rates are averaging $3.46 per mile, down $.05 from the February average. Reefer rates are highest in the Midwest, averaging $4.08 per mile, and the lowest rates are in the Southeast, with an average of $3.11 per mile. National reefer capacity is at 8.89 loads to truck, compared to the February 20th average of 10.94. Current load-to-truck capacity shows reefer demand is high in much of the country. California, the west coast, and Florida have the lowest load-to-truck ratios. National average flatbed rates are currently averaging $3.29 per mile, $.12 higher than the February average. The Midwest has the highest average flatbed rates at $3.63 per mile; the lowest rates are in the West, with an average of $2.84 per mile. Nationally, load-to-truck ratios are at 88.59, compared to 85.91 on February 20th. Load ratios remain high throughout the country. California and Nevada have the lowest load to truck ratios. For more details, visit Dat.com. Turning to fuel prices, the latest Energy Information Administration data shows the national average diesel price is at $5.25 per gallon, a $.40 increase from one week ago, and $2.06 higher than one year ago. Regional diesel prices range from $5.11 in the gulf coast states to $5.47 in the central Atlantic region. California diesel prices are averaging $6.26 per gallon. Since 1994, TCI Business Capital has provided reliable cash-flow to trucking companies through invoice factoring and accounts receivable financing. To learn more about TCI Business Capital and our factoring programs, give us a call at 800-707-4845 or visit tcicapital.com.
Hello, welcome to the March 2022 freight rate and trucking update from TCI Business Capital. Here’s what’s happening out on the road. The four elements that affect the trucking market show inbound container shipments are up. Load volume is down, truck capacity is up, and fuel prices are up. Cass Information Systems has released the Transportation Index Report for February. Cass reports the shipments component in February rebounded from the January Omicron impact. February’s shipment index was up 8.8% from January and up 3.6% year over year. The Cass Truckload Linehaul Index rose 12.8% year over year. Cass states excess miles, rising fuel surcharges, and accessorial fees are not factored into the index. DAT’s March 15th Trendlines Report shows a different story. Current national van rate averages are at $3.07 per mile, a $.02 decrease from the February average. According to DAT, the highest average van rates are in the Midwest at $3.45 per mile. The lowest average van rates are in the Southcentral at $2.80 per mile. DAT reports the current national load-to-truck ratio is 4.72 loads to truck, compared to the February 20th average of 6.99. Ratios are highest east of the Rockies. The lowest ratios are in California and the Pacific coast states. Reefer freight rates are averaging $3.46 per mile, down $.05 from the February average. Reefer rates are highest in the Midwest, averaging $4.08 per mile, and the lowest rates are in the Southeast, with an average of $3.11 per mile. National reefer capacity is at 8.89 loads to truck, compared to the February 20th average of 10.94. Current load-to-truck capacity shows reefer demand is high in much of the country. California, the west coast, and Florida have the lowest load-to-truck ratios. National average flatbed rates are currently averaging $3.29 per mile, $.12 higher than the February average. The Midwest has the highest average flatbed rates at $3.63 per mile; the lowest rates are in the West, with an average of $2.84 per mile. Nationally, load-to-truck ratios are at 88.59, compared to 85.91 on February 20th. Load ratios remain high throughout the country. California and Nevada have the lowest load to truck ratios. For more details, visit Dat.com. Turning to fuel prices, the latest Energy Information Administration data shows the national average diesel price is at $5.25 per gallon, a $.40 increase from one week ago, and $2.06 higher than one year ago. Regional diesel prices range from $5.11 in the gulf coast states to $5.47 in the central Atlantic region. California diesel prices are averaging $6.26 per gallon. Since 1994, TCI Business Capital has provided reliable cash-flow to trucking companies through invoice factoring and accounts receivable financing. To learn more about TCI Business Capital and our factoring programs, give us a call at 800-707-4845 or visit tcicapital.com.