Spot market shift: Flatbed gains contrast cooling van, reefer rates

Last week, dry van and refrigerated spot rates dropped for the first time since the Iran war fuel price surge began, according to weekly reports from FTR Transportation Intelligence and DAT Freight & Analytics.

According to FTR, “dry van spot rates had eased about a half-cent during week 11, but refrigerated spot rates had surged nearly 44 cents in four straight weeks of rate increases. Flatbed spot rates, meanwhile, rose for a 15th straight week to their highest level since July 2022.”

Here is how rates and volumes changed across the three major spot market equipment types:

Dry van rates and volumes

According to FTR: Spot rates dropped 2 cents last week. Year over year, rates are up almost 37%. Dry van loads fell 7.4%. 

According to DAT: National linehaul spot rates dropped 4 cents per mile last week, averaging $2.00 per mile, excluding fuel. This rate is 25% higher than last year.

Refrigerated rates and volumes

According to FTR: Spot rates dropped 8 cents last week. Rates, excluding fuel, were about 35% higher than last year. Refrigerated loads dropped 14%.

According to DAT: National linehaul spot rates dropped 4 cents per mile last week, averaging $2.39 per mile. This rate is 27% higher than last year. 

Flatbed rates and volumes

According to FTR: Spot rates rose 8 cents last week, the smallest increase in five  weeks. Year over year, rates, excluding fuel, were up almost 15%. Flatbed loads rose 6.2% to the highest level since May 2022. 

According to DAT: National linehaul spot rates rose 3 cents per mile last week, averaging $2.58 per mile. This rate is 21% higher than last year.