Shippers moved less freight in the second quarter but paid sharply more, according to the U.S. Bank Freight Payment Index. The National Shipment Index fell 1.1% sequentially to 75.1, while spending rose 6.4% to 230.4. Year-over-year, volumes dropped 2.8% and spending climbed 28.1%. Tightening truck capacity, rather than fuel costs, drove the increase, as years of recession pushed fleets out of the market and regulatory actions further reduced supply. Spot rates averaged $3.02 per mile, up 18.9% sequentially, nearly converging with contract rates at $3.06, signaling further cost pressure ahead for shippers.