Spot truckload rates on the rise

January 29, 2021 – According to the January edition of Cargo Business News, trucking spot rates are persistently rising.

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The report claims that freight under contract has shrunk from the normal 80% to now 78%, while sport rates have climbed to 22% from the typical 19 or 20%.

CBN claims that the hike in spot rates is due to supply chain imbalances at the industry, commodity and lane level – notwithstanding the COVID-19 pandemic effect on increased consumer shipping. It points out that as the week ending 17 November, available loads on spot market was up 67% compared to the same period in 2029.

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