Truckload volume surged and spot and contract freight rates hit new highs in August as logistics managers stared down their most challenging peak shipping season yet.
Shippers and logistics managers who would normally be gearing up for peak shipping season have encountered one test after another in terms of their ability to manage transportation pricing, capacity and supply chain disruptions.
The DAT Truckload Volume Index (TVI) rose to 231 last month, up 2% from July and 17% higher year over year. The Index is an aggregated measure of dry van, refrigerated (“reefer”) and flatbed loads moved by truckload carriers and an industry standard indicator of commercial freight activity.
The DAT Truckload Volume Index reflects the change in the number of loads with a pickup date during that month; the actual index number is normalized each month to accommodate any new data sources without distortion.
The August reading for the TVI is one of the five highest months on record. July came in at 222, which was preceded by June’s 237 (the all-time record), and May’s 212.
Growth + Change = Opportunity!