Freight rates are always fluctuating, and it can be difficult to know when you’re getting the best deal or paying more than you should. It’s almost like buying a plane ticket; one day it’s affordable, the next day it sky-rocketed, and just when you think you’re getting a deal, surprise! – hidden fees. Freight rates might not be as easy to track as flight prices, but knowing how they work can save you a bundle. In this blog, we will explore the basics of freight rates, how to get the best rates, and strategies for making the most of your shipping budget. At Synchrogistics, we provide a free freight quote for any mode of shipment. Our team will compare quotes from all top carriers and find ways to save you money on your shipment.   

 

What Is a Basic Freight Rate?  

A freight rate is simply the cost of transporting goods from one location to another. This rate is calculated based on various factors such as:  

• • Distance traveled  

• • Commodity 

• • Weight and dimensions  

• • Mode of transportation   

Freight rates often fluctuate due to factors like seasonality, fuel prices, demand, and regional regulations. To make the most of your shipping budget, consult a trusted logistics provider, such as Synchrogistics, for an accurate, up-to-date freight quote. This ensures you are getting the best rate based on current conditions. 

 

What Is a Freight Quote?  

A freight quote estimates the cost of shipping a particular load. It includes details about your shipment and provides insight into potential costs like fuel surcharges, accessorial fees, and insurance. Logistics providers look at important details of the shipment, such as type of mode, pickup and delivery locations, and cargo requirements such as weight, dimensions, and number of pallets. It’s important to provide accurate information to avoid unexpected charges when receiving a freight quote. 

 

How to Get the Best Freight Quotes  

Securing the best freight quote isn’t just about finding the cheapest carrier; it is also important to know ways to maximize your savings. Here are some ways to ensure you get the most competitive rates:  

1. 1. Consolidate Shipments: Combining multiple shipments can reduce the overall rate. At Synchrogistics, we specialize in LTL consolidation, saving our customers hundreds on their shipments. 

2. 2. Schedule Shipments: Last-minute shipping can be costly. Scheduling shipments in advance allows you to take advantage of more competitive rates and gives logistics providers time to optimize routes.  

3. 3. Negotiate with Carriers: Long-term relationships with carriers can often result in discounted rates, especially if your shipping volume is consistent.

 

How to Save Money on Freight Shipping  

In addition to securing competitive freight quotes, there are several ways to save money on your freight shipping:  

• • Optimize Your Packaging: Properly packed and palletized shipments can reduce damage risks, lower labor costs, and allow for efficient space usage.  

• • Freight Class: Understanding freight class can help avoid surprises in rates. Misclassifying goods can lead to reclassification fees, which add unnecessary costs to your shipment.  

• • Audit Your Freight Bills: Always check your freight invoices to ensure accuracy. Occasionally, you might spot errors or opportunities to reduce recurring fees. If you reach out to our experts at Synchrogistics’ we will provide you with a free freight spend audit analysis.

 

What Is the Current Freight Rate per Mile?  

Freight rates per mile vary based on several factors, including location, demand, fuel costs, and mode of transport. For example, during peak holiday seasons or periods of high demand, freight rates per mile are likely to increase, especially for certain types of shipments like temperature-controlled or high-security freight. Current freight rates per mile fluctuate based on the type of shipment and market demand.   

 

Here’s a quick breakdown of the market as of October 2024:  

• • Van Rates: Spot rates currently average around $2.02 per mile, while contract rates are slightly higher at $2.41.  

• • Flatbed Rates: Spot rates for flatbed shipments are at $2.44 per mile, with contract rates around $3.07.  

• • Refrigerated Rates: For temperature-sensitive freight, spot rates are about $2.36, while contract rates sit at $2.71.  

To get an accurate and up-to-date free freight quote, consult with your logistics provider for real-time market insights, or consider using a transportation management system (TMS) that provides direct access to updated rates and lanes.  

 

Interested in a Free Freight Quote | Synchrogistics

Interested in learning more about how you can optimize your shipping spend? Contact Synchrogistics for a free freight quote today and start getting competitive rates from trusted carriers.