Unprecedented Freight Rate Trend Marks April 2022

We said that this day may come last month, but we are still shocked that it has arrived. Flatbed hauling has now taken the crown from reefer hauling in regards to rate prices, perhaps for the first time in trucking history!

With flatbed rates up, and truck and trailer prices finally coming down, maybe it’s time to think about adding a flatbed trailer to your fleet.

April 2022 Numbers

According to DAT:

• Dry van hauling averaged $2.80 per mile, a twenty-two-cent decrease from March 2022.
• Flatbed hauling increased by a penny to $3.41 per mile.
• Reefer decreased a quarter per mile to $3.15.
• The average decreased from $3.27 to $3.12 per mile.

There you have it, flatbed hauling now averages a higher rate than reefer hauling.

Many potential explanations may exist to explain this phenomenon, but the most basic and most likely explanation is that demand for goods typically hauled by flatbeds (such as construction materials) is surging. As housing prices continue to be high, construction is a very lucrative business at the moment, and builders are willing to pay a premium to get the job done as soon as possible.

Conclusion

Now that the day of shifting has finally come, it will be interesting to see how the hauling markets across the nation shift in response to flatbed being king. In a perfect market, truckers would make the switch instantaneously and the rates would drop due to competition, but with trailers of all types becoming harder and harder to find, those who have a spare flatbed or two lying around will find themselves at an advantage.

With flatbed hauling higher than reefer hauling by 25 cents, it is anyone’s guess as to when the trend will reverse and reefer hauling will be king once again.

If you are in the market for a flatbed trailer, or even a dry van or reefer in hopes of taking advantage of reduced prices now to make more money when prices rebound, TopMark Funding can leverage its expertise to get you the best rate for your credit scenario. Read on below for more information.

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