A couple weeks ago we talked about how it looked like van rates had found the bottom, but we haven’t really seen things get any better yet. The national average van rate held at $1.62/mile last week after several weeks of steady decline, but volumes continued to improve on the top 100 van lanes. If van loads keep climbing, it'll put pressure on rates to go up soon.
Darker-colored states have higher load-to-truck ratios, meaning that there's less competition for van loads in those states.
Van demand has gotten stronger in the South, and you can see the row of dark red states in the Hot States Map up above, which shows which states have less competition for van loads. In fact, all of the top 5 markets for van load posts on DAT TruckersEdge in February come from that band of southern states.
Top 5 for Van Load Posts in February
None of the major van markets saw a big increase in outbound rates, last week, but there's more freight moving out of Atlanta, Memphis, and Chicago, so hopefully things start improving in those markets soon.
NOT SO HOT
Volumes dropped off in Allentown, PA, after getting a big boost the week before. And while there were more van loads available out of Chicago, there wasn’t on the lane to Buffalo. The average rate on that lane tumbled 31 cents to an average of $2.12/mile. Out West, things are still mostly quiet, but there otherwise was a lot of movement price-wise last week.
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