US Bank Index: Contract Dry Van Rates Top Spot by 22 Cents in August

Contract dry van linehaul rates ended August at $2.39 a mile, 22 cents above spot freight at $2.17, reversing June's 8-cent spot premium, according to the October U.S. Bank Freight Payment Index – Rates Edition, produced with DAT Freight & Analytics. The quarterly report covers June through August. Spot linehaul fell from $2.35 in July and $2.38 in June, while contract rose from $2.30 in June to $2.38 in July and $2.39 in August, gaining every month since April. Year over year, spot is up 35.6% from $1.60 and contract up 20.1% from $1.99. Fuel surcharges rose 13% to $0.70 a mile in August from $0.62, lifting all-in spot rates to $2.87 and contract rates to $3.09. August spot loads fell 3.2% to 1,264,897; contract loads slipped 1.3% to 740,249 and are down 27.7% year over year.