February 2021: Rates and Trend Lines Rise
After a few months of different freight rates going in different directions, it is good to finally see all of them move in the same direction for February 2021. The fact that they all went up in a month that usually sees decreases is simply the cherry on top.
The Numbers
Dry van increased three cents per mile to $2.40, making the rate close to what it was in October 2020, but still short of December’s $2.46.
Flatbed hauling increased to $2.56, a jump of seven cents per mile, and is at its highest rate since the middle of 2018.
Reefers increased six cents per mile to total $2.68. This is the second-highest it has been since DAT started tracking freight rate averages, where the peak was in November 2020 at $2.69.
Interesting to note is that the three-year trendlines for both dry van and reefer have turned direction, and are going up as time increases. The regression for reefer rates over time may appear flat, but shows a discernible increase between February 2018 and 2021.
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