Truckload Rates Jump 5-15 Percent, Survey Says

Shippers are paying more to move truckload freight as both large and small trucking companies hike rates, according to a survey by Transport Capital Partners.

The percentage of truckload carriers increasing rates jumped from 53 percent in February to 83 percent in May, with rate hikes ranging as high as 15 percent.

The majority of the carriers surveyed by industry consultant TCP increased rates at least 5 percent, with 8 percent of the carriers raising rates 15 percent or more.

In its February report, TCP said it expects truckload rate hikes in the middle to upper single-digit percentage range in the second half of 2011.

The May survey suggests the price hikes are just starting. Almost 90 percent of the carriers said rates will rise over the next year, and none said they will drop.

Smaller carriers are beginning to make big gains, with 31 percent of the carriers with less than $25 million in annual revenue hiking rates 10 percent or more.

Only 22 percent of the larger carriers raised rates 10 percent or more. However, 20 percent of the smaller carriers reported no rate gains in the last three months.

The rise in truckload pricing over the past three months reflects gains made by carriers in annual contract negotiations, Transport Capital Partners said.

“This lays the ground work early for more strength in the last half,” said Lana Batts, a TCP partner and former president of the Truckload Carriers Association.

-- Contact William B. Cassidy at wcassidy@joc.com. Follow him on Twitter @wbcassidy_joc.