Freight Trucking Rates

As of April 2025, the freight and trucking industry is experiencing a gradual rebalancing, driven by pre-tariff inventory surges, increasing regulatory complexity, and persistent economic uncertainty. Below are the latest insights on dry van, flatbed, and reefer rates based on ACT Research's Freight Forecast report.​

Spot Market Trends

Dry Van:
Dry van spot rates eased in March after early-year strength, influenced by weather and inventory preloading. The spread between spot and contract rates remains wide, but rising load-to-truck ratios suggest spot rate pressure could build through Q2. Rate movement will hinge on how quickly pre-tariff inventory demand fades and how consumer behavior adjusts to rising costs.

Flatbed:
Flatbed spot rates improved in March, supported by construction season and tariff-accelerated shipping. However, those drivers are expected to weaken, and risks from an industrial downturn loom large. Supply remains loose, which continues to delay a robust spot rate recovery.

Reefer:
Reefer spot rates showed moderate seasonal alignment, with capacity tightening due to produce season and winter disruptions. Equipment availability is expected to shrink further as tariffs push trailer costs higher, supporting a firming rate environment in the near term.

Contract Rates

Dry Van:
Contract rates remain stable but subdued. While large fleets with optimized freight strategies have seen some improvements, broader contract rate gains are limited by economic softness and the ongoing freight recession. The wide gap between for-hire and private fleet costs supports gradual upward pressure.

Flatbed:
Flatbed contract rates have largely flattened out. Supportive dynamics from early-year infrastructure shipping are now fading, and rising material costs and declining industrial activity could pressure future renewals.

Reefer:
Reefer contract rates remained flat in March. Rising equipment costs from aluminum tariffs could tighten capacity and support pricing over time, but broader freight softness is capping upside in the short term.

Overall, the freight and trucking industry is moving through a complex phase of normalization. Spot market strength from pre-tariff shipping and seasonal demand has not yet fully translated into sustained contract rate gains. As the effects of higher vehicle costs, slower retail volumes, and trade policy disruptions unfold, market equilibrium between supply and demand will continue to evolve, segment by segment.

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