Flatbed Rates

Updated Flatbed Truckload (TL) Sector Overview – November 2024

Flatbed rates in October 2024 reflect ongoing volatility, influenced by seasonal trends and disruptive events such as hurricanes and port strikes. Below is an updated analysis of spot and contract flatbed rates.

Spot Market Rates

Flatbed spot rates, net of fuel, rose by 1¢ month-over-month in October 2024, averaging $1.93 per mile. This represents a 4.3% increase year-over-year, continuing the sector's upward trend. The combined impacts of Hurricanes Helene and Milton, along with recent labor strikes, briefly elevated demand for flatbed capacity. However, the ongoing seasonal decline in construction activity is beginning to exert downward pressure, signaling potential softening in flatbed spot rates as these temporary factors subside.

Contract Market Rates

Flatbed contract rates remained steady at $2.57 per mile in October 2024, reflecting a 4.5% year-over-year increase. This stability highlights resilience despite seasonal headwinds and cooling industrial demand. While near-term growth appears limited by tougher year-over-year comparisons, infrastructure projects and hurricane recovery efforts are expected to provide modest support to flatbed contract rates in the months ahead.

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