Demand Dips for Dry Van, and Prices Follow
By Allie Lewis, DAT Solutions
New tariffs on Chinese imports are set to begin Sept. 1, and there's still uncertainty over how truckload markets will react. So far in August, there has been a lack of urgency on the part of shippers, which has lowered rates for dry van shipments.
Overall van volume dipped 3%, while 57 of the top 100 van lanes saw lower prices. Texas and Colorado markets cooled, but the Upper Midwest saw an increase in activity and rates.
Rising Buffalo remained active and rising. Rates in and out of Chicago have seen an increase in pricing power as well.
- Buffalo to Chicago rose 15¢ to $1.67/mi
- Chicago to Buffalo increased 21¢ to $2.64/mi
- Chicago to Atlanta up 13¢ to $2.01/mi
- Cleveland to Chicago also up 10¢ to $1.91/mi
While most lanes paid less last week, the declines were relatively slight. The biggest drop was out of Charlotte.
- Charlotte to Allentown slipped 13¢ to $2.26/mi
- Houston to Chicago down 9¢ to $1.47/mi