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Feb 18, 2016

FREIGHT RATES FOR TRUCKING INDUSTRY * USA:

* New York - As spot prices drop, shippers look to curb US truck rates

-- As U.S. domestic freight volumes soften, truckload spot rates are sliding and shippers, pressed to lower transportation costs, are looking for ways to bring contract rates lower... According to BB&T Capital Markets, some shippers are pulling down rates in contract talks by turning to third-party logistics providers, while rethinking how they ship lane by lane... They’re getting some help from the spot truck market. Dry van truckload rates on the U.S. spot market dropped 1.3 percent in January from December, as dry van spot freight volumes tumbled 15 percent, DAT Solutions said. That’s a typical decline for the post-holiday season. .. The national average dry van spot rate edged down 3 cents to $1.62 per mile in the week that ended Feb. 6, as the number of van loads dropped 17 percent, DAT said... The average U.S. retail price of diesel hit a low of $2.01 per gallon in the week that ended Feb. 8. The last time the price was that low was in February 2005. Two years ago, the weekly average price published by the Energy Information Administration was above $4 a gallon... The decline in spot market rates follows a typical seasonal freight pattern, but also reflects tumbling diesel prices and fuel surcharges, a major factor in lower shipping costs... That would shift U.S. truck supply and demand closer to the “rough equilibrium” of 2012-2013, a balance that might change again as mandated use of electronic logging devices by truck drivers draws closer in late 2017, potentially reducing truckload capacity... Several shippers at the BBT conference mentioned the need to vet truckload lanes for “ELD vulnerability,” the investment research group said. Those that don't could see capacity tighten and costs head up... 
NY, USA - JOC, by William B. Cassidy - Feb 16, 2016

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