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April 14 |
Van spot rates pull back as flatbed rates keep rising |
Broker-posted spot rates for dry van and refrigerated equipment in the Truckstop system saw identical decreases during the week ended April 11 (week 14) after both had posted back-to-back gains for the first time since the beginning of the year. The decreases were fully in keeping with seasonal expectations, however, as van rates always fall in week 14. Meanwhile, flatbed spot rates rose for a ninth straight week – a streak not matched in the past three years – to their highest level since May 2023.
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April 7 |
Van spot rates post their largest gains of the year |
Broker-posted spot rates in the Truckstop system rose for all equipment types for a second straight week during the week ended April 4 (week 13), and the gains were particularly notable for the van segments. The spot rate increases for both dry van and refrigerated were their largest of the year so far, and both saw back-to-back weekly increases for the first time since the start of the year. Flatbed spot rates rose for an eighth straight week and were at their highest level since June 2023.
The sources of the recent strength in dry van and refrigerated and the ongoing strength in flatbed are unclear. We have suspected based on the geography and timing of the flatbed growth in volume that it could be tied to imports of equipment and metals in order to avoid impending tariffs. Dry van and refrigerated had not really seen any firming until a couple of weeks ago. However, it’s possible that this activity, too, could be linked to a pull-forward due to expectations, which proved to be correct, that broad-based import tariffs would be imposed in early April.
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March 31 |
Spot rates rise for all equipment types in the latest week |
Broker-posted spot rates in the Truckstop system rose for dry van and refrigerated equipment for the first time in five weeks during the week ended March 28 (week 12). Refrigerated spot rates increased from what had been the lowest rates since June 2020. Dry van spot rates rose after falling to only about 2 cents above rates during that month. Flatbed spot rates increased for a seventh straight week to their highest level since June 2023 as flatbed load volume was the strongest since June 2022.
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March 24 |
Van spot rates continue to fade as flatbed rates rise |
The pattern for almost all of 2025 so far continued as broker-posted spot market rates in the Truckstop system rose for flatbed equipment and decreased for van equipment during the week ended March 21 (week 11). Flatbed spot rates were the highest since June. Dry van rates were the lowest since September, and refrigerated rates were the lowest since June 2020. While dry van rates exceeded those in a few weeks during 2023 and 2024, they were only about 2 cents higher than they were in June 2020.