The Cass Truckload Linehaul index, which measures truckload pricing, rose 3.8% year-over-year in April, St. Louis-based Cass Information Systems reported May 21.
鈥淲ith demand increasing and capacity remaining tight, we should continue to see contract rate increases filter into our index at higher levels,鈥 the report said.
Investment firm Avondale Partners said after the index鈥檚 release that contract pricing 鈥 which applies to more than 95% of public carriers鈥 freight 鈥 has been accelerating after a drawn-out bid season last year.
鈥淎s a result, although spot market pricing has decelerated somewhat, [it remains strong] 鈥 We see truckload pricing increasing between 4% and 9% in 2015, depending on how much rate increase each carrier was successful in obtaining in 2014 and when those rate increases were achieved,鈥 Avondale said.
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