ACT Research For-Hire Trucking Index: Contract Rates Expected to Continue Rising into 2018

Posted on 15. Dec, 2017 by in ACT For-Hire Trucking Index, Press Releases

COLUMBUS, IN – The latest release of ACT’s For-Hire Trucking Index indicated that the freight index rose faster than the capacity index for the eleventh consecutive month, allowing the supply-demand balance to climb to the second highest reading ever recorded. “The wide spread between freight and capacity additions bodes well for continued strength in freight rates into the new year,” noted Kenny Vieth, ACT Research’s President and Senior Analyst. He continued, “Clearly, truckers are entering 2018 with an upper hand in negotiations with shippers.”

When respondents were asked what their expectations for 2018 contract rate increases were, the average was 7%. “Contract rates will continue to receive upward pressure as capacity tightens and adjustments are made to ELD mandates,” noted one fleet executive. They continued, “Expected increases of 5%-10% are anticipated, with greater increases experienced in spot market situations.”

ACT is the leading publisher of new and used commercial vehicle (CV) industry data, market analysis and forecasting services for the North American market, as well as the U.S. tractor-trailer market and the China CV market. ACT’s CV services are used by all major North American truck and trailer manufacturers and their suppliers, as well as the banking and investment community in North America, Europe, and China.Picture2