Truckload spot and contract rates are rising across the US freight market as capacity constraints continue to keep tender rejection rates elevated heading into mid-2026. The May 2026 State of the Industry Report from FreightWaves, produced in partnership with Ryder, documents the current state of the market across trucking, maritime, and intermodal segments.

Long-term contract rates are up approximately 8% since last fall. With shippers increasingly relying on secondary carrier capacity, further rate increases are expected as tightness persists. Tight truckload conditions and widening rate spreads between truckload and intermodal have driven strong domestic intermodal growth, supported by improved service reliability and available container capacity.

Diesel prices have remained highly sensitive to geopolitical developments throughout 2026, adding uncertainty to cost management and complicating rate signals for both shippers and carriers. US manufacturing activity has returned to expansion, which is supporting flatbed, rail, and LTL demand despite mixed broader economic signals.

Retail and consumer spending continue to hold up even as inflation and energy costs weigh on sentiment. That spending support has helped sustain freight volumes in the near term. Carriers and shippers alike are navigating a market where rate increases are being priced in while demand fundamentals remain broadly positive.

Source: FreightWaves -- https://www.freightwaves.com/news/white-paper-state-of-the-industry-may-2026