Dry van spot rates rise strongly for a second straight week

Broker-posted spot rates in the Truckstop system for dry van equipment saw a big gain during the week ended May 23 (week 20), resulting in the largest two-week increase in two years. Both strong two-week gains – this year and in 2023 – came during the week of the annual International Roadcheck roadside inspection event and the week that followed. Spot rates for refrigerated and flatbed equipment declined slightly. Load postings fell sharply as expected during the week following Roadcheck.

Note: As noted last week, 2025 and 2024 weeks in the Truckstop do not match up cleanly. For most of the year, this difference does not matter much, but International Roadcheck represents a major distortion that calls for special analysis. Roadcheck occurred in week 20 last year, so this week we are comparing the weeks immediately following Roadcheck in 2025 and 2024 even though they fell in different weeks. We will return to straight y/y comparisons next week, but we might adjust for obvious holiday-related distortions as appropriate through the remainder of the year.

Total load activity fell 12.2% after jumping more than 34% in the previous week due to Roadcheck. Total volume was more than 9% above that during the week following Roadcheck last year. Total truck postings increased 5.9%, and the Market Demand Index – the ratio of load postings to truck postings in the system – declined after the previous week’s sharp increase.

The total market broker-posted spot rate increased 1.4 cents, which is the average increase over the past three years during the week following Roadcheck. Total rates were more than 2% higher than they were during the week following last year’s Roadcheck. Rates excluding a calculated fuel surcharge – an adjustment that isolates the portion of all-in rates not needed to recoup fuel costs – were more than 6% higher than they were the week following Roadcheck last year.  

Dry van spot rates rose more than 7 cents to their highest level since January after rising more than 12 cents during Roadcheck week. The increase was larger than usual for the week following Roadcheck, but dry van rates have risen during that week for the past five years. Rates were 1.5% higher than they were during the week after Roadcheck last year. Excluding a calculated fuel surcharge, dry van rates were nearly 5% higher than they were during the week following 2024’s Roadcheck week. Dry van loads fell 20.4% after rising nearly 45% during Roadcheck week. Volume was close to 3% higher than it was during the week after Roadcheck last year.

Refrigerated spot rates declined 1 cent after surging close to 28 cents during Roadcheck week. Rate decreases are common for the week after Roadcheck. Rates were less than 1% higher than those recorded during the week after Roadcheck in 2024. Excluding a calculated fuel surcharge, refrigerated rates were up about 1% versus last year’s week after Roadcheck. Refrigerated loads dropped 19.3% after jumping more than 50% during Roadcheck week. Volume was nearly 4% below that during the week after the 2024 Roadcheck.

Flatbed spot rates eased 0.4-cent after declining about 3 cents during Roadcheck week. Although the decrease was small, it was the first during a week following Roadcheck since 2015. Rates were about 2% higher than they were during the week after Roadcheck last year. Rates excluding a calculated fuel surcharge were up more than 4% versus those during the week after Roadcheck last year. Flatbed loads decreased more than 11% after rising almost 30% during Roadcheck week. Volume was nearly 18% above that during the week following 2024’s Roadcheck.

Leveraging robust Truckstop data with the expert analysis of FTR Transportation Intelligence, Truckstop and FTR partner to bring you timely and relevant transportation market forecasts and analyses to help you run your business.