Report analyzes movements in spot and contract truck freight rates
Minneapolis – U.S. Bank and DAT Freight & Analytics have collaborated to produce new quarterly research on U.S truck freight rates. The exclusive data and analysis provides shippers and carriers a composite view of truck freight costs, including average-per-mile contract, spot and fuel rates.
The first publication of the U.S. Bank Freight Payment Index – Rates Edition revealed that spot rates jumped 3.0% in October before falling 1.1% to $1.65 per mile in November. Contract rates have held steady in recent months and were at $2.02 in November. Both spot and contract rates are up less than 1% when compared with a year earlier.
Fuel surcharges, meanwhile, jumped 7.5% in November due to refinery outages. The report noted that “national diesel prices dropped that month … a reminder that fuel surcharges don’t always track pump prices in real time.”
“Our collaboration with DAT Freight & Analytics is about building on the insights we can deliver to shippers and carriers so they can make better business decisions,” said Jeff Pape, General Manager of U.S. Bank Freight Payment. “In addition to the volume and spend data and analysis included in our Freight Payments Index, we know our clients will value the spot, contract and fuel rates in this additional report.”
“The freight market is rarely one-dimensional, and looking at financial or rate data in isolation only tells half the story,” said Ken Adamo, GM, Shipper and Chief of Analytics at DAT. “By layering DAT’s benchmark analytics on top of transaction volume from U.S. Bank, we’re helping shippers bridge the gap between settlement data and real-time market dynamics. This composite view moves the industry beyond simple observation to actionable intelligence, ensuring stakeholders can anticipate volatility rather than just reacting to it.”
The new research complements the U.S. Bank Freight Payment Index, which the bank has published quarterly since 2017. The Index measures quantitative changes in freight shipments and spend activity based on data from transactions processed through U.S. Bank Freight Payment, which processes more than $43 billion in freight payments annually.
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Contact:
Todd Deutsch, U.S. Bank Public Affairs and Communications
About U.S. Bank Freight Payment
For more than 25 years, organizations have turned to U.S. Bank Freight Payment for the service, reliability and security of a federally regulated financial institution and payments provider. The pioneer in electronic freight payment, U.S. Bank Freight Payment processes more than $43 billion in freight payments annually and continues to innovate for our corporate and federal government clients. Through a comprehensive online solution, organizations can streamline and automate their freight audit and payment processes and obtain the business intelligence needed to maintain a competitive supply chain. Learn more at: usbank.com/transportation-solutions/freight
About DAT Freight & Analytics
DAT Freight & Analytics operates DAT One, North America’s largest truckload freight marketplace; Convoy Platform, an automated freight-matching technology; DAT iQ, the industry’s leading freight data analytics service; Trucker Tools, the leader in load visibility; and Outgo, the freight financial services platform. Shippers, transportation brokers, carriers, news organizations, and industry analysts rely on DAT for market trends and data insights, informed by nearly 700,000 daily load posts and a database of more than $1 trillion in freight market transactions. Founded in 1978, DAT is a business unit of Roper Technologies (Nasdaq: ROP), a constituent of the Nasdaq 100, S&P 500, and Fortune 1000. Headquartered in Beaverton, Oregon, DAT continues to set the standard for innovation in the trucking and logistics industry. dat.com
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