Flatbed Strength Continues as Van and Reefer Markets Pull Back
The freight spot market is showing a clear shift as flatbed rates continue to climb, while dry van and refrigerated (reefer) rates begin to cool. After several weeks of strong increases driven by rising fuel costs linked to global conflict, the market is now adjusting. As a result, carriers are seeing mixed trends across different equipment types.
According to recent reports from FTR Transportation Intelligence and DAT Freight & Analytics, this marks the first decline in van and reefer rates since the Iran war triggered a surge in fuel prices. However, flatbed demand remains strong, pushing rates higher for the 15th consecutive week.
Dry Van Market Sees Decline in Rates and Volumes
The dry van segment experienced a slowdown last week. Although rates remain elevated compared to last year, both pricing and load volumes dropped.
Key dry van trends include:
- Spot rates decreased by 2 cents
- Linehaul rates fell by 4 cents per mile to $2.00
- Load volumes declined by 7.4%
- Rates are still about 25–37% higher year over year
Therefore, while the market is cooling, it remains stronger than in previous years. This suggests that demand is stabilizing after recent volatility.
Refrigerated Segment Shows Sharper Drop
The refrigerated market experienced a more noticeable pullback. After several weeks of strong growth, rates and volumes both declined significantly.
Key reefer trends include:
- Spot rates dropped by 8 cents
- Linehaul rates fell to $2.39 per mile
- Load volumes decreased by 14%
- Rates remain about 27–35% higher than last year
Meanwhile, this decline follows a sharp surge in previous weeks, where reefer rates had increased rapidly. As a result, the current drop may reflect a market correction rather than a long-term downturn.
Flatbed Market Continues Upward Momentum
In contrast, the flatbed segment continues to show strong performance. Demand remains high, and rates are still increasing, although at a slightly slower pace.
Key flatbed trends include:
- Spot rates increased by 8 cents
- Linehaul rates rose to $2.58 per mile
- Load volumes grew by 6.2%
- Rates are up about 15–21% year over year
Additionally, flatbed rates have reached their highest levels since mid-2022. This ongoing growth highlights strong demand in sectors such as construction and industrial freight.
Market Shift Reflects Changing Conditions
The divergence between flatbed and other segments reflects broader market adjustments. While fuel price spikes initially pushed all rates higher, the impact is now stabilizing in certain sectors.
In addition:
- Diesel prices have begun to show slight fluctuations
- Demand patterns are shifting across freight types
- Capacity adjustments are influencing rate trends
As a result, carriers must adapt to changing conditions. Flatbed operators may benefit from continued demand, while van and reefer carriers may need to adjust pricing strategies.
Overall, the spot market is entering a more balanced phase. However, ongoing fuel volatility and global events will likely continue to influence rate movements in the coming weeks.
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