Most industries that rely on heavy haulers near me for their supply chain and logistics are currently facing a variety of delivery challenges. Their problems are mostly a result of overwhelming demand, rising flatbed trucking companies rates, and tight capacity. Other challenges are caused due to shortages in materials, products, labor, and drivers. Construction and manufacturing businesses, in particular, are facing more difficulty due to high flatbed demand and rising flatbed trucking rates. These industries have had to deal with capacity issues throughout the last two years of Covid as they have experienced high consumer demand. As the demand continues to rise, the need for deliveries has increased, leading to a surge in prices for flatbed trucking carriers. Let’s take a deeper look at how flatbed trucking rates are rising in the industry.
Flatbed Demand Compared to Vans and Reefers
Hiring heavy haulers near me with a reliable delivery operation is becoming increasingly difficult. Within the trucking sector, flatbed carriers’ capacity seems the most challenged.
Heavy Haulers Near Me Rates
This is large because flatbeds are used the most in construction and manufacturing supply chains for Heavy Machinery Transportation. The open haul capacity of flatbeds makes them ideal for delivering heavy machinery, construction materials, and finished products. The result is that flatbed spot rates have reached new highs. The DAT reported that the flatbed load-to-truck ratio has risen by more than 169% year-over-year (YOY) from June 2020 to June 2021. Compare that to reefer load-to-truck ratio that has risen by 110% percent YOY for the same period. The van load-to-truck ratio is up 57.8 percent YOY for the same period.
How Are Trucking Freight Rates Calculated?
Heavy haulers near me rates are generally calculated on a per-mile basis. You first need to determine the distance between the loading and unloading points. Then take the total cost of the delivery and divide it by the number of miles between the start and finish point to get your flatbed freight rate. The 2021 data revealed that the monthly spot rates for flatbed trucks increased for eight consecutive months. They were as high as $3.15 / mile in June 2021. These rates are not expected to fall any time soon as industries are continuing to push the flatbed demand and take it to the next level. Suppose you are looking to book a flatbed truck from Boston, MA to Columbus, OH. The distance would be around 760 miles roughly, based on the exact pickup and drop-off points. You get a rate of $3,300 from a freight company. The trucking freight rate would be $3,300 / 762 = $4.33 per mile.
Summary
If you are looking to use a flatbed trucking service Equipment Transporter for your supply chain, then you should look to get rates from 2 to 3 different service providers before you book the service. Although Flatbed Shipping Companies rates are higher right now, you may be able to get a good deal from a company that meets your budget.
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