Cass has announced its August 2014 Truckload Linehaul Index data, reporting that freight spend is up 7.0% over August 2013 and up by 0.2 points over July 2014.
The Cass Truckload Linehaul Index measures market fluctuations in US per-mile truckload pricing. The index isolates the linehaul component of full truckload costs from other components such as fuel and accessorials.
Cass stated that truckload linehaul rates for North America maintained their ongoing climb in August primarily because of growing demand and declining capacity. This led to higher contract prices after a drawn-out bid season. Spot market pricing also appears to remain strong.
Rates were pushed up further as capacity continued to exit the marketplace as a consequence of increased regulatory pressures, namely EOBRs and Hours of Service changes, which have pushed marginally profitable carriers into failure.
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