Dry van spot rates surge toward 2021 peak as trucking market tightens again

Spot rates continued to rise across all equipment types ahead of Memorial Day weekend, according to weekly reports from FTR Transportation Intelligence and DAT Freight & Analytics.

According to FTR, “dry van spot rates posted the strongest increase and were only about 12 cents below their all-time high in late December 2021. Refrigerated spot rates were about 30 cents below their record, which was during the same week.”

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 rose 13 cents last week. Year over year, rates are up 48%. Dry van loads dropped 3.2%, after a large jump during International Roadcheck earlier this month.

According to DAT: National linehaul spot rates rose 5 cents last week, averaging $2.27 per mile.

Refrigerated rates and volumes

According to FTR: Spot rates rose almost 6 cents last week following their recent surge. Rates were 48% higher than last year. Refrigerated loads dropped 11.4%.

According to DAT: National linehaul spot rates dropped 3 cents last week, averaging $2.65 per mile. 

Flatbed rates and volumes

According to FTR: Spot rates rose almost 8 cents last week, hitting another new record. Year over year, rates were up about 45%. Flatbed loads rose 2.7%, their highest level since May 2022.

According to DAT: National linehaul spot rates rose 7 cents per mile last week, averaging $2.87 per mile.