Dry Van Rates

Dry Van Truckload (TL) Sector – January 2025

The dry van truckload (TL) sector continues to experience shifts in market conditions, driven by seasonal influences, regulatory impacts, and capacity adjustments. Below is an updated overview reflecting the latest data for December 2024.

Spot Market Rates

Dry van spot rates, net of fuel, rose 9¢ month-over-month, averaging $1.73 per mile in December 2024, representing a 4.2% year-over-year increase. Winter weather events like Storm Blair and pre-tariff inventory adjustments fueled the rate gains. The seasonally adjusted (SA) load-to-truck ratio increased significantly to 5.4 in early January 2025, up from 4.2 in December, indicating tightening capacity driven by temporary disruptions and reduced equipment postings.

Contract Market Rates

Contract rates for dry van freight increased by 2¢ month-over-month, reaching $2.03 per mile in December 2024, reflecting a 1.0% year-over-year rise. This marks the third consecutive month of year-over-year gains following prolonged declines. While the gap between spot and contract rates persists, upward pressure on contract pricing is supported by higher private fleet costs and sustained demand for consistent capacity. Gradual rate increases are anticipated as capacity dynamics shift toward tighter conditions in 2025.

To see how dry van rates change in the future, and for detailed analysis and forecasts for truckload, less-than-truckload, and intermodal, see ACT's freight & transportation forecast.