Truckload rates climbed again in May

Spot market paid ratesPer-mile rates on the spot market soared in May, with rates in all three major truckload segments — van, flatbed and reefer — posting solid gains from the month prior.

The gains are in line with seasonal trends but could also reflect an upswing predicted this year by industry analysts ahead of the ELD mandate‘s compliance deadline and expected improvements in freight demand.

Flatbed hit its highest mark since August 2015, $2.25 a mile — up three pennies from April and 17 cents from May 2016:

Spot market flatbed rates

Reefer climbed 5 cents in the month to $2.07 a mile. That’s a penny shy from the same month last year:

Spot market reefer rates

Van rates rose 4 cents to $1.92 a mile, a 7-cent increase from May 2016:

Spot market dry van rates