Dry Van Rates
Dry Van Rates in May 2024
US dry van truckload spot rates rose 6¢ per mile m/m to 1.59 per mile in May, down 1.9% y/y. In seasonally adjusted terms, rates were up 5¢ m/m, 9¢ above the October 2023 cycle low, but trending 3-4¢ below seasonality in early June.
DAT dry van contract rates, net fuel, rose 2¢ m/m in May to $2.01 per mile, up 3¢ m/m seasonally adjusted.
To see how dry van rates change in the future, and for detailed analysis and forecasts for truckload, less-than-truckload, and intermodal, see ACT's freight & transportation forecast.
Contract rates have been in a 5¢ range for ten months, following the stabilization in spot rates for about a year, and ongoing bid pressure may be offset by improving freight mix as the market balance improves for fleets.
Tim Denoyer
VP & Sr. Analyst
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