After Solid First Half, Truck Rates Expected to Continue Rise Through 2014

With a tightened truckload capacity, weather related disruptions, and driver pay increases, truck rates across the U.S. are expected to continue to rise after strong growth in the first half of 2014. With this growth continuing into the third quarter, analysts expect steady increases in transportation rates within North America during the late third and early fourth-quarter peak season.

Truckload linehaul rates rose 7.2 percent on average year-over-year in July, the sharpest annualized increase since the end of the recession, according to Cass. Intermodal prices, including fuel surcharges, were up 3.4 percent in July. Analysts predict that these rates will continue to rise with tightening truckload capacity and increasing demand due to strong import numbers during the peak season. Both truckload and intermodal are expected to increase in the low to mid-single digits to close out the year.