Flatbed spot rates set new highs as freight volumes decline across all modes

Dry van spot rates are within 3 cents of passing their 2021 all-time high, according to weekly reports from FTR Transportation Intelligence and DAT Freight & Analytics.

According to FTR, “Flatbed spot rates posted their strongest week-over-week increase in eight weeks, but refrigerated spot rates retreated modestly immediately after recording their largest four-week gain ever. Spot volume fell as expected due to the Memorial Day holiday.”

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 9 cents last week. Year over year, rates are up 53%. Dry van loads dropped almost 13%.

According to DAT: National linehaul spot rates rose 5 cents last week, averaging $2.32 per mile.

Refrigerated rates and volumes

According to FTR: Spot rates fell a little over 10 cents last week. Rates were 52% higher than last year. Refrigerated loads dropped nearly 20%.

According to DAT: National linehaul spot rates dropped 2 cents last week, averaging $2.64 per mile. 

Flatbed rates and volumes

According to FTR: Spot rates rose 9 cents last week, hitting another new record. Year over year, rates were up about 47%. Flatbed loads dropped 15.5%. 

According to DAT: National linehaul spot rates rose 2 cents per mile last week, averaging $2.89 per mile.