VOL. 8 NO. 28 JULY 13, 2015 LOAD AVAILABILITY Up 7% compared to the Weekly Market Demand Index (MDI) Note: MDI Measures Relative Truck Demand LOAD SEARCHING Up 18.3% compared to the TRUCK AVAILABILITY Up 18% compared to the TRUCK SEARCHING Up 5.2% compared to the TRUCKLOAD RATES Down 3.5% compared to the LOAD TURNAROUND Down 1.6% compared to the The ITS Market Demand Index (MDI) decreased 7% to 12.02 from 12.95 the Load availability increased 7% compared to the Texas, California, Alabama, Arkansas, Georgia, Indiana, Ohio, Illinois, Pennsylvania, and North Carolina were the hot regions (regions with the most load availability). Washington DC, Rhode Island, Vermont, New Hampshire, Delaware, Connecticut, Maine, North Dakota, Wyoming, and Montana had the least load availability. Load searching increased 18.3% from the Truck availability increased 18% compared to the Texas, California, Georgia, Florida, Ohio, Illinois, Pennsylvania, North Carolina, Michigan, and Indiana had the most truck availability. Washington DC, Vermont, Rhode Island, Delaware, New Hampshire, Maine, West Virginia, South Dakota, North Dakota, and Montana had the least truck availability. Truck searching increased 5.2% from the
Weekly Average Equipment Rates (Dollars Per Mile) The overall average equipment rate decreased 4% to $2.11 from $2.18 the Flatbed rates decreased 1% to $2.12 from $2.15 the Reefer rates decreased 8% to $2.21 from $2.41 the Specialized rates decreased 3% to $2.6 from $2.69 the Van rates decreased 7% to $1.89 from $2.04 the Weekly On-Highway Diesel Fuel Prices (Dollars Per Gallon) Fuel prices decreased slightly to $2.82 from $2.83 per gallon the Connecticut, Washington, Rhode Island, New York, Pennsylvania, Idaho, Massachusetts, Maryland, Nevada, and California had the highest fuel prices at an average of $3.16 per gallon. Missouri, Oklahoma, Indiana, Colorado, Kansas, South Dakota, Nebraska, Mississippi, Iowa, and South Carolina had the lowest fuel prices at an average of $2.6 per gallon. The fuel surcharge decreased to 49.71 from 49.92 cents per mile.
Weekly Inbound Versus Outbound Rates Inbound rates decreased 3% to $2.20 from $2.27 per mile the Rhode Island, Washington DC, Wyoming, Maryland, Vermont, Maine, New York, New Jersey, Massachusetts, and Louisiana had the highest inbound rates at an average rate of $2.54 per mile. Iowa, Minnesota, California, Michigan, Arizona, Wisconsin, Alabama, Nebraska, Illinois, and Kentucky had the lowest inbound rates at an average rate of $1.96 per mile. Outbound rates decreased 4% to $2.10 from $2.18 per mile the Maryland, Delaware, West Virginia, Virginia, California, Georgia, Ohio, North Carolina, Tennessee, and Kentucky had the highest outbound rates at an average rate of $2.40 per mile. Rhode Island, South Dakota, Montana, Minnesota, Massachusetts, Wyoming, Colorado, Vermont, New Hampshire, and Idaho had the lowest outbound rates at an average rate of $1.72 per mile.
Load Turnaround Versus Truck Turnaround (Time in Minutes) Load turnaround decreased 2% to 250 from 254 minutes the Rhode Island, Washington DC, California, Delaware, New Jersey, Washington, Massachusetts, Connecticut, Colorado, and New Hampshire had the fastest load turnaround at an average load turn time of 183 minutes. South Dakota, Alabama, Mississippi, Missouri, Arkansas, Oklahoma, West Virginia, Kansas, Louisiana, and Tennessee had the slowest load turnaround times at an average turn time of 301 minutes. Truck turnaround increased 6% to 334 from 315 minutes the Montana, Nevada, California, Arizona, Washington, Vermont, Oregon, Wyoming, Utah, and North Dakota had the fastest truck turnaround at an average turn time of 261 minutes. New Hampshire, Maine, Massachusetts, Washington DC, Rhode Island, Connecticut, South Dakota, Florida, Delaware, and Kentucky had the slowest truck turnaround times at an average turn time of 406 minutes.
Weekly Credit Score (Days) The weekly credit score index improved to 22.44 from 22.59 days the TL Industry Wage Growth
The graph below highlights in numbers what many of you already know driver wages are moving up! Whether it s a good factor or a bad one depends on your point of view. My conclusion today is that it is a necessary item no matter your viewpoint. There is often talk about a driver shortage: What is it? What drives it? How big is it? The uptick at the end of that graph is the clearest proof yet that it does exist and it is a big deal. 2004/2005 was a fairly normal recovery for driver wages. We saw increases of nearly 10% for the better part of two years. Then we saw nothing for three whole years and after that we saw big cuts in the industry - wages, drivers, staff - that led to deep reductions during the Great Recession. Until the last year, recovery in wages had been pretty muted despite the talk about tight capacity and driver shortages. That is no longer the case. Following the capacity crisis that ensued from the winter of 2014, driver wages have been on a red-hot streak. Why is this necessary? Because growth in trucking wages has long been below growth in other competitive sectors like manufacturing and construction. We would need to see these types of growth rates for at least a few more years in order to get back to parity with those other industries and that is necessary in order to help alleviate the driver shortage concerns.