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DAT: Spot flatbed volumes surged in March

By: via Business Wire

Spot truckload freight volumes rebounded in March, led by a sharp increase in the movement of flatbed loads, said DAT Freight & Analytics, which operates the DAT One freight marketplace and DAT iQ data analytics service.

The DAT Truckload Volume Index (TVI), a measure of dry van, refrigerated (“reefer”), and flatbed loads moved in a month, increased for all three equipment types compared to February:

  • Van TVI: 276, up 5% month over month
  • Reefer TVI: 218, up 1%
  • Flatbed TVI: 316, up 13%

With more business days and better weather, March typically has higher truckload freight volumes than February. Year-over-year comparisons stayed positive, with the Van TVI up 7%, Reefer TVI rising 8%, and Flatbed TVI 11% higher compared to March 2024.

Spot van, reefer rates decreased

Despite stronger volumes in March, average spot rates for van and reefer loads fell for the third straight month:

  • Van: $1.99 per mile, down 5 cents from February
  • Reefer: $2.27 per mile, down 9 cents
  • Flatbed: $2.53 per mile, up 8 cents

The van linehaul rate averaged $1.60 per mile (down 4 cents), the reefer rate was $1.85 (down 7 cents), and the flatbed rate was $2.06 (up 9 cents). Linehaul rates exclude an average fuel surcharge amount, which was 39 cents, 42 cents, and 47 cents for vans, reefers, and flatbeds, respectively.

Flatbed demand didn’t match March 2017 or 2018, but it was greater than carriers have been used to lately, explained Ken Adamo, DAT Chief of Analytics. “Tariff uncertainty was a factor but so was tighter capacity,” Adamo said. “Roughly 30% of flatbed loads move on the spot market compared to 12 to 15% for vans and reefers. The equipment and driver skills are specialized and spot-market demand is highly seasonal. When there are fewer trucks, it affects the flatbed market more than the others.”

Contract pricing stayed consistent

Contract truckload rates declined for all three equipment types:

  • Contract Van: $2.40 per mile, down 3 cents month over month and 7 cents lower than March 2024
  • Contract Reefer: $2.72 per mile, down 3 cents and 12 cents lower year over year
  • Contract Flatbed: $3.04 per mile, down 1 cent and 8 cents lower year over year

The difference between contract and spot rates for vans and reefers increased for the second month in a row.

“Compared to the spot market, contract pricing has been consistent for the last 12 to 15 months,” Adamo said. “That may change if tariffs and geopolitical issues disrupt supply chains and shippers turn to the spot market for available trucks. For now, though, shippers and brokers continue to hold on to pricing power.”

About the DAT Truckload Volume Index

The DAT Truckload Volume Index reflects the change in the number of loads with a pickup date during that month. A baseline of 100 equals the number of loads moved in January 2015, as recorded in DAT RateView, a database tracking rates paid on an average of 3 million loads per month.

DAT benchmark spot rates are derived from invoice data for hauls of 250 miles or more with a pickup date during the month reported. Linehaul rates exclude an amount equal to an average fuel surcharge.

About DAT Freight & Analytics

DAT Freight & Analytics operates DAT One, North America’s largest truckload freight marketplace; DAT iQ, the industry’s leading freight data analytics service; and Trucker Tools, the leader in load visibility. Shippers, transportation brokers, carriers, news organizations, and industry analysts rely on DAT for market trends and data insights, informed by nearly 700,000 daily load posts and a database exceeding $1 trillion in freight market transactions.

Founded in 1978, DAT is a business unit of Roper Technologies (Nasdaq: ROP), a constituent of the Nasdaq 100, S&P 500, and Fortune 1000. Headquartered in Beaverton, Ore., DAT continues to set the standard for innovation in the trucking and logistics industry. Visit dat.com for more information.

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