Spot truckload rates bounced higher in May, according to a new report from DAT Freight & Analytics.
Shippers sought capacity to move greater volumes of van and refrigerated freight, according to the report.
The van and reefer index numbers climbed 13% and 25% higher, respectively, compared to May 2023.
“Stronger van and reefer volumes are consistent with May, when shippers move seasonal produce and retail goods and truckload capacity tightens due to the Roadcheck inspection event and Memorial Day holiday,” Ken Adamo, DAT Chief of Analytics, said in a news release. “Carrier attrition created further pressure on capacity.”
Spot refrigerated rates were $2.41 per mile in May, up 9 cents from May 2023.
The DAT Truckload Volume Index, an indicator of loads moved during a given month, hit all-time highs for van and refrigerated freight loads, according to the release. The refrigerated truck loads index for May, at 224, was 4% above May 2023.
Linehaul rates, which subtract an amount equal to an average fuel surcharge, increased for all three equipment types, according to the release. The average van linehaul rate was $1.58 a mile, up 5 cents compared to April; the reefer rate jumped 9 cents to $1.94; and the flatbed rate gained 4 cents to $2.01, the report shows.
National average rates for contracted van and reefer freight declined compared to April, the release said. Contract refrigerated truck rates averaged $2.79 per mile, down 3 cents from April.
