17 Dec From the Summit – Week of 12/17/18
Summit Expedited’s newsletter featuring current market trends and other exciting news at Summit.
Van Rates Jump in December
Dry van rates have remained consistent over the last few months at around $2.08 per mile. Now as the holidays approach, we have observed a noticeable spike in dry van rates that we haven’t seen since August.
During the first week of December, rates jumped six cents to $2.14 per mile for dry vans. This same time last year, rates averaged $2.12 for the month. We have also seen a small increase in flatbed rates, and a two cent drop in reefer rates. The drop in reefer rates is caused by a decrease in refrigerated loads, which increases carrier capacity.
With this spike in dry van rates, it is important to know what is going on in your specific market. The information below will show you the average the rate per mile for the outbound market that may pertain to you.
With the holidays quickly approaching, it is important to remember what that entails when thinking about freight. Many drivers are heading home and may shut down for a few days. Overall capacity shrinks within the market and if something needs to get moved, carriers will be looking for a premium. Plan ahead when possible to help avoid the surcharges and get product out early!
Stay tuned for our next edition of From the Summit, where we will take a closer look at 2018 and the trends we saw throughout the year. We will also discuss what we anticipate in 2019 and how we can best prepare for the future.
FedEx Adds 1,000 Electric Vehicles
FedEx has announced they are adding 1,000 all-electric vehicles to their fleet to help with pickup & delivery services. The specific vehicle is the V8100, which has a range of approximately 150 miles before needing to recharge. FedEx claims that replacing their gas powered vehicles will help avoid 20 tons of emissions per vehicle each year. All 1000 of the V8100s will be servicing the California market.