Spot rates again rise for all equipment types

The total market broker-posted rate rose by 6.7 cents a mile – the largest increase in four weeks. All-in broker-posted rates were about 39% higher than in the same week last year while rates excluding a calculated surcharge were nearly 32% higher. Although carriers operating in the spot market typically do not receive surcharges, the calculation is a proxy for the portion of the rate needed to offset higher fuel costs. While dry van and refrigerated spot rates have risen sharply, those gains still represent mostly fuel cost recovery while flatbed spot rates’ run-up has far exceeded cost recovery.

As we have pointed out for several weeks, the current week (week 19) includes the annual International Roadcheck roadside inspection event, which will be held May 12-14. Large numbers of drivers stay off the road to avoid the hassle and scrutiny of higher inspection rates, making Roadcheck one of the most dependable weeks of the year for significant spot rate increases.

This week almost certainly will yield all-time high spot rates for flatbed equipment and the total market. Both dry van and refrigerated spot rates are much too far below their respective records at the end of 2021 to set all-time highs this week. However, record week-over-week increases are plausible though unlikely, especially for refrigerated spot rates, which spiked 45 cents in a single week in late January this year.

Dry van spot rates rose by 4.3 cents after increasing by nearly 4 cents during the previous week. Broker-posted rates were 43.5% higher than in the same week last year while rates excluding fuel surcharges were up more than 34%. Sharp spot rate increases for loads originating on the West Coast and in the Southeast offset modest declines in other regions except the Mountain Central region, which recorded a modest increase.

Dry van loads ticked up 1.9%. Volume was close to 36% higher than in the same 2025 week. Increases in loads in the Southeast and Midwest more than offset decreases elsewhere week over week.

Refrigerated spot rates rose by 5.9 cents after jumping nearly 10 cents in the prior week. All-in rates were more than 39% higher than they were during the same 2025 week while rates excluding surcharges were up by more than 31%. As was the case with dry van, rates on loads originating in the Southeast and on the West Coast were largely responsible for the overall increase, though rates were also up modestly in the Northeast and slightly in the Mountain Central region.

Refrigerated loads increased 6.2%. Volume was 6.6% above that in the same 2025 week for the first positive comparison in four weeks. A surge in West Coast volume was mostly responsible for the overall increase, though the low-volume Mountain Central region also posted a strong gain. Southeast volume was flat while the South Central was the only region to post a decrease week over week.

Flatbed spot rates rose by 7.7 cents for the 24th increase in 25 weeks. While last week’s spot rate technically is not the highest on record, it was a mere fraction of a cent below the record in late May 2022. All-in broker-posted flatbed spot rates were up close to 38% versus the same 2025 week while rates excluding a calculated surcharge were up 30.5%. Rates increased week over week for loads originating in all regions except for the Northeast, which posted a modest decrease.

Flatbed loads declined 1.4%. Volume was close to 78% higher than in the same 2025 week. A solid increase West Coast volume moderated decreases in several regions and increases of only a fraction of a percent in the Midwest and Mountain Central regions.