Freight Market Intelligence
The Rate Reset is Complete
Are You Still Priced for 2025?
“April is the first month in this upcycle where every equipment type moved higher simultaneously. This is no longer a flatbed story. It is a market-wide repricing event driven by structural capacity loss and accelerating demand.”
By Circle Logistics • Published May 2026 • ~5-minute read
Executive Summary
Every freight market cycle has a moment when the data stops being a trend and starts being a new reality. For 2026, that moment arrived in April.
For the first time since the current upcycle began, every tracked equipment category (Van, Reefer, Flatbed, Step Deck, Conestoga, and RGN) posted a month-over-month rate increase in the same month. Step Deck surged another 15.2% to $3.93 per mile, now up an extraordinary 51.7% from April 2025. RGN reached $5.69 per mile, its highest level in our entire dataset, up 41.2% year-over-year. Even Van, which many observers expected to lag, climbed 7.5% to $2.85 per mile as length-of-haul rebounded and consumer goods volumes picked up heading into summer.
The latest edition of The Circle Dispatch breaks down exactly what drove April’s market-wide acceleration, what the year-over-year data means for Q2 and Q3 contract renewals, and the six actions shippers need to take right now.
Key Findings
Everything is Moving At Once
March’s flatbed-led surge widened into a full-market rate event in April.
The YoY Numbers Are Even More Striking
Shippers who locked in contracts in early 2025 are approaching renewal windows in a market that has repriced 25–52%.
Reefer Has Joined the Rally
Temperature-controlled capacity was largely insulated through Q1 2026 as the rate surge was concentrated in flatbed and specialized equipment.
Broker Margins Are Compressing at the Top
Step Deck broker margins fell to 9.9% in April as carrier cost increases outpaced even the strong rate gain.
What’s Driving This?
With both March and April confirming aggressive rate acceleration, Q2 2026 is on pace to be the highest-rate quarter since at least Q1 2023 across every equipment category. Summer construction season and produce lanes will add further demand pressure through May and June. Shippers without contract coverage are already facing spot premiums of 15–25% above contract benchmarks in flatbed categories.
Cross-border volumes also rebounded sharply in April, with 953 international shipments. A 36.1% increase from March and 31.5% above the 2025 full-year monthly average. Higher domestic rates are making cross-border lanes increasingly attractive for shippers managing blended transportation budgets.
The businesses that emerge from this cycle in the strongest position will be the ones that engage their logistics partners now, lock in agreements at current rates, and build the carrier relationships that provide access to capacity when the market is at its tightest.
Download the Full April 2026 Report
Explore rate breakdowns by equipment type, quarterly comparisons, and outlook insights in our latest white paper:
The Circle Dispatch: April 2026 Freight Market Trends & Q2 Outlook
About Circle Logistics
Circle Logistics is a technology-forward freight brokerage specializing in truckload, reefer, flatbed, and specialized equipment freight.
Powered by real-time market data and a performance-driven culture, Circle helps shippers and carriers navigate volatility with confidence.