Freight Trucking Rates

As of January 2025, the freight and trucking industry continues to navigate a landscape shaped by economic conditions, regulatory developments, and capacity adjustments. Below are the latest updates on dry van, flatbed, reefer rates, and overall trucking market conditions based on current insights.

Truckload Rates Overview

Spot Market Trends

• Dry Van:
  In December 2024, dry van spot rates, net of fuel, averaged $1.73 per mile, reflecting a 9¢ month-over-month increase and a 4.2% year-over-year rise. Early January 2025 saw the load-to-truck ratio jump to 5.4, up from 4.2 in December, driven by capacity constraints from winter weather events like Storm Blair.
• Flatbed:
  Flatbed spot rates in December decreased by 1¢ month-over-month to $1.94 per mile, a 2.1% year-over-year increase. Seasonal construction slowdowns moderated growth, though recovery from earlier hurricanes provided some market support.
• Reefer:
  Reefer spot rates climbed to $2.06 per mile in December, marking a 2¢ month-over-month rise and a 3.5% year-over-year increase. Seasonal demand for fresh produce and holiday-related shipping kept capacity tight, with January rates exceeding normal seasonal patterns by 10¢.

Contract Rates

• Dry Van:
  Contract rates for dry van freight increased to $2.03 per mile in December, maintaining a 1.0% year-over-year rise. The ongoing wide spread between spot and contract rates supports incremental contract rate growth.
• Flatbed:
  Flatbed contract rates rose slightly to $2.60 per mile, a 2.4% year-over-year increase. While broader industrial demand softened, pre-tariff shipping activity provided modest support.
• Reefer:
  Reefer contract rates in December reached $2.34 per mile, up 1¢ month-over-month but down 2.1% year-over-year. The tighter reefer capacity compared to other trailer types contributes to the upward momentum in rates.

To see how freight trucking rates change in the future, and for detailed analysis and forecasts, see ACT's freight & transportation forecast.