Week 13 Spot Market Results: Van Rates See Highest Gain This Year

Spot Market Sees Notable Gains Across All Segments

FTR reports the U.S. spot freight market experienced significant growth during the week ending April 4, 2025. Increases were observed across dry van, refrigerated, and flatbed segments. This marks the second consecutive week of rate increases for all equipment types, indicating a potential shift in market dynamics.

Dry Van and Refrigerated Spot Market Rates See Largest Gains of 2025

Refrigerated and dry van spot rates posted their most substantial weekly increases of 2025. Dry van rates rose by over 5 cents, reaching their highest point since week 7. This marks only the fourth rate increase for dry vans this year. Similarly, refrigerated rates climbed by 8.5 cents, also achieving their highest level since week 7 and marking the fourth increase of the year.

The reasons behind these sharp increases remain uncertain. However, analysts suggest that the timing and geographical patterns may be linked to import activities, possibly driven by efforts to circumvent newly imposed tariffs. The imposition of broad-based import tariffs in early April may have prompted a surge in shipments, contributing to the observed rate increases.

Flatbed Rates Continue Upward Trend

Flatbed spot rates increased for the eighth consecutive week, rising by more than 3 cents to their highest level since June 2023. This sustained growth is notable, especially considering that flatbed rates have not consistently exceeded the five-year average in recent years. The ongoing strength in flatbed rates may also be influenced by increased imports of equipment and metals, as shippers aim to avoid the impact of new tariffs.

Spot Market Load Volumes Reach Highest Level Since July 2022

Total load activity increased by 4.6% during the week, reaching the highest level since July 2022. Both dry van and refrigerated segments outpaced flatbed in week-over-week volume growth, a rare occurrence in the market. Compared to the same week in 2024, total volume was nearly 34% higher and less than 3% below the five-year average.

Dry van loads increased by 7.7%, while refrigerated loads saw a 12.7% rise. Flatbed loads grew by 3.8%, with volume more than 48% above the same week in 2024 and nearly 9% above the five-year average.

Spot Market Demand Index Hits Highest Level Since May 2022

Total truck postings ticked up by 0.5%, contributing to an increase in the Market Demand Index (MDI) to its strongest level since May 2022. The MDI, which measures the ratio of load postings to truck postings, indicates tightening capacity in the market. This shift suggests that demand is beginning to outpace available capacity, potentially leading to continued rate increases if the trend persists.

Year-Over-Year Comparisons Show Positive Trends

The total market broker-posted spot rate increased by more than 3 cents, reaching its highest level since June 2023. Year-over-year, total rates were up 4.7%, matching the prior week for the strongest comparison since May 2022. However, rates remained nearly 3% below the five-year average for the week.

When excluding a calculated fuel surcharge, dry van rates were up nearly 7% year-over-year, while refrigerated rates increased by 1%. Flatbed rates, excluding fuel surcharges, were up about 9% compared to the same week in 2024.

Spot Market Outlook for the Coming Weeks

Historically, during the current week of the year (week 14), dry van and refrigerated spot rates tend to decline, while flatbed rate movements have been inconsistent. Given the recent increases and the factors influencing them, it remains to be seen whether these trends will continue or if the market will experience a typical seasonal adjustment.

The recent surge in rates and volumes across all segments suggests a potential shift in market dynamics. If demand continues to outpace capacity, further rate increases may be observed. However, the sustainability of these trends will depend on various factors, including the impact of tariffs, import activities, and overall economic conditions.