Reefer Rate
|
May |
June 2010 |
Month-over-Month:
June 2010 vs. May 2010 |
June 2009 |
June 2010 |
Year-over-Year:
June 2010 vs. June 2009 |
|||
|
Spot Market |
$1.47 | $1.59 | + 8.2% |  |
$1.52 | $1.59 | + 4.6% | |
| Contract | $1.50 | $1.50 | 0.0% |  |
$1.50 | $1.50 | 0.0% |
|
Rate information provided by TransCore's Truckload Rate Index.
- Spot market line haul rates increased by 8.2% for refrigerated vans in
June, compared to May,
and are on track to decline to $1.53 in July, as the summer progresses. Compared to
June 2009, spot market rates were up by 4.6% for reefers.
- Contract rates remained stable in June, compared to May, and were also unchanged year-over-year when compared to June 2009. Contract rates are typically less dynamic than spot market rates because prices remain the same throughout the term of the contract.
- The gap between spot market rates and contract rates narrowed to 2.0% in May, and spot market rates are expected to exceed contract rates for June and July. Spot market rates exceeded contract rates in June of 2009, but by only $0.01 (1.3%.) Spot market rates are paid to carriers by brokers and third-party logistics (3PL) companies.
- Together with a 308% increase in the load-to-truck ratio for reefers on the spot market in June, compared to June of last year, and a 12% increase in loads per truck from May to June, rising rates are an indicator of refrigerated capacity constraints that are even greater than is typical for the peak summer season. .
