FTR’s Trucking Conditions Index increased in June after moderating slightly the prior two months, the group said.
The index increased 1.9 points to 7.64 in June, reflecting an environment where carriers are gaining market power but are struggling to keep up with cost inflation, the transportation forecasting firm said.
“Truck freight continues to show steady increases, and the capacity situation is unlikely to loosen up anytime soon,” Jonathan Starks, FTR’s director of transportation analysis, said in a statement.
“Spot market rates are still elevated, although they have shown normal moderation during the summer months,” Starks said. “We expect to see both spot and contract rates continue to rise as we get into the fall shipping season.”