In Q2 2025, both spot and contract road freight indices in Europe reached 132.2, marking the first time the two indices have aligned so closely. According to the latest quarterly road freight rate benchmark report from Upply, Ti, and IRU, this convergence reflects a transitional period in the market, shaped by shifting economic and operational dynamics.
The spot rate index declined by 2.
2 points quarter-on-quarter (QoQ) and 2.0 points year-on-year (YoY), reaching its lowest point since Q4 2023. On the other hand, the contract rate index rose by 1.2 points QoQ and 0.7 points YoY, showing some resilience in long-term transport agreements despite fluctuating market pressures.
The road freight rate sentiment index was recorded at 8.2 for Q2, indicating a cautiously optimistic outlook among industry stakeholders. Market players anticipate a potential recovery in freight demand in the second half of the year.
A key contributor to the current market environment is the 6.4% decline in diesel prices over the quarter, which helped reduce operating costs for carriers. Additionally, early signs of a rebound in EU retail and manufacturing sectors are supporting more stable freight demand across the continent.
Overall, while short-term volatility persists in the spot market, contract rates and improving economic indicators hint at gradual market stabilization going into Q3 and Q4 of 2025.
