Spot Rates Hit 2022 Peak as Carrier Capacity Squeeze Accelerates

Market Momentum Builds National dry van spot rates have surged to $2.89 per mile, marking the strongest level since 2022. This represents a sharp $0.12 weekly jump that signals real tightening in carrier capacity and growing pricing power for trucking companies. Why It Matters Rates have recovered roughly $0.50 to $0.60 per mile over recent months, a 20-25% year-over-year improvement in key lanes. This isn't temporary volatility, it reflects genuine market fundamentals driven by sustained industrial demand and a shrunken supply pool. Key Details Tender rejection rates hover stubbornly in the low-to-mid teens nationally, with the Midwest exceeding 18%. Multi-year carrier attrition from driver regulations and structural industry challenges has left capacity extremely tight and responsive to demand spikes. West Coast Turning Point Inbound container surges and recovering outbound tenders are now pulling capacity westward. Long-haul carriers are repositioning toward higher-paying port loads, which stretches 1,500-2,000+ miles per move versus shorter eastern runs requiring multiple loads. Expectations Ahead As trucks migrate west via I-35 and parallels to capture superior freight on I-20 and I-40, interior eastern markets face even tighter conditions. Midwest industrial strength will compound the squeeze with no relief in sight.