Refrigerated Rates
Reefer Rates - April 2025
Reefer Truckload (TL) Sector – April 2025
The reefer market remained mixed in March 2025, with seasonal demand and equipment constraints providing partial support, even as broader economic and trade pressures intensified. Below are the latest insights on spot and contract reefer rates.
Spot Market Rates
Reefer spot rates dipped in March after a strong start to the year, tracking just below seasonal expectations. Still, the load-to-truck ratio climbed in early April, indicating that equipment supply remains tight relative to demand. Tariff-related cost pressures—especially on reefer trailer builds—are expected to further limit fleet capacity, which may support rates in the coming months despite ongoing uncertainty in the freight economy.
Contract Market Rates
Reefer contract rates remained stable in March, showing little movement from February. While pre-tariff shipping has begun to fade, consistent demand for food, pharmaceuticals, and other temperature-sensitive goods continues to offer a solid foundation for contract pricing. However, market participants remain cautious, with expectations for only modest contract rate gains through mid-year, particularly as trade policies and economic conditions remain unsettled.
To see how reefer rates change in the future, and for detailed analysis and forecasts for truckload, less-than-truckload, and intermodal, see ACT's freight & transportation forecast.
Reefer capacity remains tighter than dry van, with elevated load-to-truck ratios persisting into April despite spot rate moderation. March marked a continuation of the post-winter correction, but constrained trailer availability and steady demand for temperature-sensitive freight are helping keep rates relatively firm as the market contends with rising costs and policy-driven uncertainty.
Tim Denoyer
Vice President & Senior Analyst
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