Truckload linehaul rates surged in July despite weaker freight volumes, according to Cass Information Systems. Cass' truckload linehaul index, which excludes fuel and accessorial surcharges, rose 2.3% from June and was 8.6% higher year over year, marking 19 consecutive annual increases and the largest in four years. Freight shipments captured by Cass fell 4.8% year over year in July, accelerating from a 4.1% decline in June, while total freight expenditures rose 9.1% year over year. The report attributed soft volumes partly to higher fuel prices and declining capacity, noting that rail intermodal is gaining share from trucking. Werner Enterprises CEO Derek Leathers said the supply-led recovery is still in early stages, and the carrier forecasts a 10% to 13% year-over-year increase in rate per mile for the third quarter.
Werner Enterprises IncCEO comments and rate per mile forecast indicate favorable supply-driven pricing environment.
Schneider National Inc
Cass Information Systems Inc