Dry van, reefer, and flatbed spot rates increase year over year despite lower loads

Last week, spot rates continued to climb, with and without including fuel surcharges, according to weekly reports from FTR Transportation Intelligence and DAT Freight & Analytics.

According to FTR, “the total market rate is the highest since late June 2022, both all in and excluding the portion of the rate needed to offset fuel costs. However, dry van and refrigerated spot rates adjusted for fuel costs still lag levels in late December and in the wake of the late January winter storm.”

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 almost 9 cents last week. With the fuel surcharge, dry van rates are at the highest level for the past four years. Year over year, rates are up almost 34%. Dry van loads fell 9.7%. 

According to DAT: National linehaul spot rates rose $0.07 per mile last week, averaging $2.04 per mile, excluding fuel. This rate is 24% higher than last year.

Refrigerated rates and volumes

According to FTR: Spot rates rose 11 cents last week. Rates, excluding fuel, were about 36% higher than last year. Refrigerated loads dropped 5.7%.

According to DAT: National linehaul spot rates rose $0.05 per mile last week, averaging $2.43 per mile. This rate is 28% higher than last year. 

Flatbed rates and volumes

According to FTR: Spot rates rose 12.5 cents last week. Year over year, rates, excluding fuel, were up 13.5%. Flatbed loads dropped 4.8%, the largest drop since late December. 

According to DAT: National linehaul spot rates rose $0.11 per mile last week, averaging $2.55 per mile. This rate is 19% higher than last year.