Freight Trucking Rates

As of April 2025, the freight and trucking industry continues to navigate a slow-moving rebalancing, shaped by fading pre-tariff inventory effects, elevated regulatory uncertainty, and a sluggish economic backdrop. 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 declined in April, extending March’s softening trend as pre-tariff shipping tailwinds dissipated. Load-to-truck ratios remain supportive, but freight demand is showing signs of plateauing. Rate performance into Q2 will depend on how quickly retail restocking resumes and how consumers respond to inflationary pressure.

Flatbed:
Flatbed spot rates edged down in April as early-season strength gave way to weaker industrial indicators. While some regions still benefit from infrastructure-linked freight, overall flatbed demand is trending sideways. Ample capacity continues to weigh on recovery prospects.

Reefer:
Reefer spot rates remained relatively firm in April, bolstered by seasonal produce shipments and lingering weather effects. However, momentum is slowing, and pricing stability will depend on how refrigerated freight holds up amid consumer spending shifts and higher operating costs.

Contract Rates

Dry Van:
Dry van contract rates were largely unchanged in April. While select large carriers continue to optimize freight mix, broader market contract trends remain muted. The spread between for-hire and private fleet costs remains wide, helping support modest upward pressure.

Flatbed:
Flatbed contract rates softened slightly as Q2 began, with early-year tailwinds from construction and pre-tariff shipping fading. Higher material costs and slowing industrial demand are expected to limit further rate strength.

Reefer:
Reefer contract rates were flat in April. Trailer cost inflation linked to tariffs may lead to tighter capacity in the months ahead, but current freight demand does not yet support a breakout in pricing.

Overall, the freight market remains in transition. While spot market drivers from pre-tariff demand and seasonal cycles provided some short-term lift, sustained contract rate recovery has yet to materialize. With equipment costs rising, retail demand softening, and regulatory clarity still lacking, the path to supply-demand equilibrium will remain uneven across equipment types.

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