Van spot rates rise while flatbed spot rates decline again

Broker-posted spot rates in the Truckstop system were flat overall during the week ended May 2 (week 17), but rates for van equipment moved higher. Dry van spot rates rose for the first time in four weeks while refrigerated spot rates posted their largest increase of 2025 so far. The gains were seasonally expected rates, especially in refrigerated, as van rates usually rise in the two weeks before Mother’s Day. Flatbed recorded its first back-to-back rate decreases since the first two weeks of the year.

Total load activity basically held steady versus the previous week, ticking up 0.5%. Total volume was about 18% over the same 2024 week but 21% below the five-year average for the week. Total truck postings rose 3.2%, which was the strongest increase in 11 weeks. The Market Demand Index – the ratio of load postings to truck postings in the system – declined to its second lowest level in 10 weeks.

The total market broker-posted spot rate was flat after declining for the first time in 11 weeks during the prior week. Total rates were up more than 6% y/y but were down nearly 1% versus the five-year average for the week. Rates excluding a calculated fuel surcharge – an adjustment that isolates the portion of all-in rates not needed to recoup fuel costs – were up about 12% y/y. During the current week (week 18) of the year, refrigerated spot rates historically have risen very strongly, and dry van rates typically increase as well. Over the years, flatbed rates also have usually increased, but they have fallen in each of the past three years. Rates next week almost certainly will see strong gains due to the annual International Roadcheck roadside inspection event, which is scheduled for May 13-15.

Dry van spot rates increased 1.4 cents. Rates were about 1% above the same 2024 week but nearly 8% below the five-year average for the week. Excluding a calculated fuel surcharge, dry van rates were up more than 7% y/y. Dry van loads were basically steady at an increase of just 0.1%. Volume was more than 1% above the same 2024 week but nearly 28% below the five-year average.

Refrigerated spot rates rose 9.5 cents. Rates were nearly 3% above the same 2024 week but were about 5% below the five-year average for the week. Excluding a calculated fuel surcharge, refrigerated rates were up about 8% y/y. Refrigerated loads increased 1.4%. Volume was 5.5% above the same 2024 week but close to 30% below the five-year average.

Flatbed spot rates decreased close to 2 cents. Rates were 6% above the same 2024 week but less than 1% below the five-year average for the week. Rates excluding a calculated fuel surcharge were up almost 12% y/y. Flatbed loads declined 0.6%. Volume was more than 28% above the same 2024 week but close to 21% below the five-year average.

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