July Sees Continued Surge in Full Truckload and International Rates

A quickly changing market and increased rates can affect our customers’ FTL and international shipping. We want to keep you informed to help you navigate your distribution chain strategies. Please read the below summary of an update on July’s rates from Freightos:

Full Truckload rates in July were the highest they’ve been in more than 13 months. International Asia to US ocean rates are up 73% compared to this time last year.

Aggregated national full truckload data compiled by DAT show rates continued to rise through July. They now average $2.02 per mile (incl. fuel), the highest monthly average in more than 13 months.

The rates surge since the record-breaking low’s in May are remarkable, climbing $0.43 per mile (27%) in just two months.

Looking further upstream, International import spot rates shows a similarly dramatic increase.

The Freightos Baltic Index which tracks Asia to US West Coast pricing has current market conditions at $2,711 per 40' container which is $1,185 (73%) higher that this same time last year.

Having been relatively flat year to date, the rates surge since the end of May has seen container prices increase by $1,173 (72%) in just two months.

Source: Freightos.com