News / Slight increase in road freight rates won't relieve pressure on UK hauliers

UK haulage rates in November unexpectedly rose amid the UK haulier crisis, but remained below November rates from the past two years.  

According to TEG Road Transport, the average haulage and courier vehicle price per mile index over last month rose from 120.5 to 122.2 in the UK. 

TEG said this was predominantly due to a significant jump in courier prices, but haulage prices also saw a slight increase. 

However, David Perfect, director of UK haulage company Perfect and Sons, told The Loadstar: “There has been a slight uplift this week due to the proximity to Christmas. But we expect rates to go lower than before in January to March, as there isn’t much expected to be moving inbound for deepsea from the Far East.” 

TEG reported that, year on year, the overall price of road haulage had dropped 1.4 points, from 123.6 last year to 122.2 in November 2023. 

Mr Perfect said he had seen rates falling for the past three to four months across the UK and Europe for FTL (full truckload) and container haulage.  

TEG said: “With pressure on the haulage sector following a record year of UK haulier insolvencies, industry players will be hopeful for a year of less-volatile costs, heading into 2024, but unpredictable fuel prices create an uncertain forecast.” 

The Loadstar previously reported that a record number, 463, of UK haulage companies had gone into insolvency this year, most of which were independent or family businesses.  

Lyall Cresswell, CEO of Transport Exchange Group, said: “As we look towards next year, we’re hopeful that government promises to the haulage sector will be upheld… While the recent Autumn Statement was lacking in significant support for the industry, we are confident that the new year will bring many exciting opportunities, and that 2024 will be a better year for the road freight industry.”