US Dry Van Spot Rates Hit Highest Level Since 2022 Amid Capacity Tightening

National dry van spot rates in the United States have surged to $2.89 per mile, marking their highest level since 2022. This significant increase includes a $0.12 jump in just one week, signaling a rapid tightening of available truck capacity across the country. The surge is primarily driven by a combination of multi-year carrier attrition and a recovery in industrial demand, alongside seasonal spikes in the agriculture and construction sectors. National tender rejection rates have climbed to between 13% and 14%, with the U.S. Midwest seeing rates as high as 18%. While this trend boosts the pricing power of freight carriers like JBHT and ODFL, it poses inflationary risks and higher operating costs for shippers such as FDX and UPS. Analysts suggest this shift indicates a potential turning point in the freight cycle as supply and demand rebalance.

Sources:zerohedge.comindexbox.iothetrucker.comtruckdriversus.comfreightwaves.comfleetnewsdaily.comglobaltrademag.comtrucksmarter.comoverdriveonline.com