BookYourCargo (BYC) today launched the first BYC Drayage Spot Market Index to enhance visibility and improve forecast capabilities for shippers, forwarders, and carriers impacted by the limiting effects of worldwide disruptions, including the COVID-19 pandemic hindering drayage operations. The index tracks data and metrics from BYC customers and partners in real time to produce monthly rates dating back to 2016. These rates can be evaluated to accurately predict average load costs and potential delays in the coming months for drayage transportation across various North American regions.
BYC September Recap
- The September 2021 national drayage spot rate was 6% more than the previous month
- Examining the market at a wider scale, September’s 2021 national drayage spot rate was 32% more than the national rate in September 2020
- The most congested ports of September 2021 based on vessels at anchorage were Los Angeles, Long Beach and Savannah
- BYC’s Forecast for October
- The Northeast region rates are predicted to rise 10% and more above existing levels with low capacity and carrier availability is 3 weeks out
- The Midwest region rates are predicted to rise 15% and more above existing levels with low capacity and carrier availability is 4 weeks out
The West region rates are predicted to rise 10% and more above existing levels with low capacity and carrier availability is 2 weeks out
Visit https://bookyourcargo.com/dray... for a complete comprehensive outlook along with BYC’s most recent drayage forecasts.
“The recent tropical storms in the U.S., labor strikes in Europe and port closures throughout Shanghai and Vietnam continue to negatively impact drayage operations and inflate market rates,” said Nimesh Modi, Chief Executive Officer, BYC. “We designed the BYC Drayage Spot Market Index to forecast capacity and market trends for elevated industry insight in order to better navigate these ongoing disruptions.”
