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SPOT truckload rates outbound from US east coast ports rose last month while rates from west coast ports fell in what may be a sign of a continuing coastal freight shift, reports New York's Journal of Commerce.
Outbound rates from the west coast ports surveyed remain higher - US$2.69 per mile in January compared with $2.47 per mile from the eight east coast ports - but such weakness reveals a capacity surplus and reduced demand.
Six west coast ports saw their average outbound shipper-paid rates drop $0.10 per mile on average, with Portland, Oregon, leading the decline of $0.18 per mile.
The six east coast port cities that saw outbound truckload spot rates rise experienced an $0.08-per-mile increase on average last month, $0.05 above the US average increase.
Baltimore saw the largest increase at $0.15 per mile, according to the analysis of truckload spot market pricing data provided by Cargo Chief, DAT Freight & Analytics, Loadsmart, shipper and broker surveys.
Two of the three Gulf Coast ports included in the analysis saw outbound truckload spot rates rise an average of $0.02 per mile in January, led by a $0.06-per mile increase from Houston. New Orleans saw a $0.01-per-mile increase, while the average rate from Mobile, Alabama, dropped $0.01 per mile.
https://www.shippingazette.com/menu.asp?encode=eng
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