Greenscreens.ai March 2024 Spot Market Update

Greenscreens.ai published its March 2024 Spot Market Update, revealing how spot rates are moving across the map.

National Carrier Spot Rate Trends

Van and Reefer rates were down a bit, showing a -3.2% and -3.9% shift from last year's end. Meanwhile, Flatbed saw an increase at +2.1%.

Regional Carrier Spot Rate Trends to 23H2 Baseline

The Midwest grapples with the steepest Reefer rate decrease at -6.8%, while the Southeast shows a mixed bag: a slight dip in Reefer rates at -0.8% but a notable rise in Flatbed rates at +4.5%.

Region

Van (23H2)

Reefer (23H2)

Flatbed (23H2)

Midwest

-4.1%

-6.8%

+2.9%

Northeast

-3.3%

-4.1%

+2.3%

Northwest

-2.8%

-6.2%

-4.4%

South

-0.5%

+1.0%

-0.8%

Southeast

-3.1%

-0.8%

+4.5%

Southwest

-5.8%

-6.5%

+1.1%

Regional Carrier Spot Rate Year-over-Year Trends

March '24 spot rate trends hit Reefers in the South hardest at -11.8%, while the Midwest felt the pinch across all types, with Vans and Reefers down by 7%. Here's a closer look at the numbers:

Region

Van (YoY)

Reefer (YoY)

Flatbed (YoY)

Midwest

-7.0%

-7.5%

-7.5%

Northeast

-6.9%

-6.7%

-5.4%

Northwest

-2.5%

-0.5%

-4.9%

South

-7.3%

-11.8%

-6.4%

Southeast

-5.9%

-6.9%

-3.6%

Southwest

-4.2%

-1.6%

+2.3%

Outlook? As Q1 rounds the bend, the second quarter's horizon could signal a milder climate for van and reefer rates or a long haul through the rest of '24 if downward trends persist.

Source: Greenscreens.ai