BLOOMINGTON, Ind. — Broker-posted spot market rates in the Truckstop system for flatbed equipment saw their sharpest increase since October – and otherwise the largest since the end of 2022 – during the week ending March 14.
“Flatbed also continued to see strong volume growth, mostly due to activity in the Southeast region,” FTR said. “Meanwhile, van spot rates continued to slide. Dry van spot rates declined to their lowest level since late September while refrigerated spot rates fell to their lowest level since June 2020.”
Total Spot Load Availability
Total load activity increased 3.3% due to strength in flatbed that was partially offset by declines in load postings for van equipment. Volume was about 17% higher than in the same 2024 week but close to 25% below the five-year average for the week. Total truck postings eased 1.3%, and the Market Demand Index – the ratio of load postings to truck postings in the system – rose to its strongest level since June 2022. Flatbed continued to be the principal driver of a higher MDI, but dry van contributed significantly as well due to a notable drop in truck postings.
Total Spot Rates
The total market broker-posted spot rate increased just under 6 cents for the strongest increase of the year so far. As with volume, flatbed mostly drove a strong rate increase despite van weakness. Total rates were up 2.3% y/y – the strongest comparison since June 2022 – but were down close to 6% versus the five-year average for the week. The portion of the all-in rate dedicated to recouping diesel prices was smaller than it was a year earlier. Rates excluding a calculated fuel surcharge were up just under 7% y/y. During the current week (week 11) of the year, flatbed and refrigerated rates usually rise while dry van rates are inconsistent.
Dry Van Spot Rates
Dry van spot rates fell nearly 6 cents – the largest decrease in six weeks – and have declined in eight of the past nine weeks. Rates were about 1% below the same 2024 week and more than 16% below the five-year average for the week. Rates excluding a calculated fuel surcharge were up close to 4% y/y. Dry van loads eased 1.5%. Volume was nearly 8% below the same 2024 week and 42% below the five-year average.
Refrigerated Spot Rates
Refrigerated spot rates decreased nearly 2 cents and, like dry van rates, have fallen in eight of the past nine weeks. Rates were nearly 4% below the same 2024 week and 16% below the five-year average for the week. Rates excluding a calculated fuel surcharge were down 0.5% y/y. Refrigerated loads fell 9.6%. Volume was more than 12% below the same 2024 week and about 48% below the five-year average.
Flatbed Spot Rates
Flatbed spot rates rose 7.5 cents to their highest level since June, increasing for a fifth straight week. Rates were nearly 2% above the same 2024 week – the strongest prior-year comparison since July 2022 – but more than 4% below the five-year average for the week. Rates excluding a calculated fuel surcharge were up about 6% y/y. Flatbed loads rose 6.8% to the highest level since July 2022. Volume was 33% above the same 2024 week but nearly 16% below the five-year average. The source of the recent run-up in flatbed volume is unclear, but stronger steel imports in advance of the March 12 imposition of tariffs is a possibility. If that is the main driver, a drop-off in volume is likely.
Dana Guthrie is an award-winning journalist who has been featured in multiple newspapers, books and magazines across the globe. She is currently based in the Atlanta, Georgia, area.
