Analysts indicate that 2024 may bring positive changes for carriers, as dry van spot rates have shown year-over-year growth since July. DAT’s data reveals that spot rates are about 7% higher than last year, and contract rates are rising for the first time in three years. The shift in freight cycles suggests a new cycle began three to four months ago. Despite these positive trends, carriers experienced significant drops in operating income in Q3, highlighting the need for more freight to transition out of current market conditions.

Source: https://www.supplychaindive.com/news/dry-van-rates-q4-october-data-dat-act-analysts/733877/