Rejection rates and spot rates are likely to see further upward movement with less than two weeks until the Christmas holiday.
The holiday impacts have yet to arrive as both tender rejection rates and spot rates are off their recent highs and volumes continue to slide.
Tender volumes and tender rejection rates moved higher this week with spot rates following suit. Thanksgiving could change the status quo.
Tender volumes and tender rejections declined over the week, but spot rates are still showing signs that peak season is going to be favorable.
Tender volumes declined over the week, but tender rejections and spot rates are showing signs that peak season is going to be favorable.
Tender volumes declined over the week, but tender rejections and spot rates found a little positive momentum over the past week.
October’s SONAR webinar looked at key factors in earning the Shipper of Choice distinction.
Tender volumes and rejection rates moved lower over the past week, while spot rates increased slightly during the week.
Tender volumes and rejection rates moved higher over the past week, but spot rates were unaffected on a national level.
Spot rates and tender rejection rates saw a slight increase to start Q4, but tender volumes fell as a result of the ILA strike.
Tender volumes, tender rejection rates and spot rate all drop in the final full week of the third quarter.
Tender volumes have started to flatten out while tender rejection rates have picked up a little steam this week.
Tender volumes have continued to show strength, but the market remains oversupplied. Hurricane Francine had little impact on the market
Tender rejection rates suffered the largest weekly decline in the past 6 weeks while tender volumes are being impacted by the holiday weekend
Industry leaders are finally starting to feel better about the state of the market. That optimism could be a crucial part of actually arriving at a better future.
Tender volumes closed August higher, up 3.13% year over year. A slight rise in rejection rates before Labor Day was still below July peaks.
Tender volumes increased over the past week, while tender rejection rates remained unchanged. The next week will be important for the direction of the freight market in the fourth quarter.
Tender volumes started to gain a little positive momentum over the past week while tender rejection rates inched slightly lower…
The freight market is fairly stable to start August as spot rates and tender rejection rates experienced little change week over week…
Spot rates moved slightly higher in the final week of July, while rejection rates and volume levels continued to retreat from recent highs.
Spot rates have retreated off their recent high, but remain elevated compared to the rest of the year while demand and rejection rates are following seasonal trends.
The freight market is appearing to stabilize at higher levels after the Fourth of July, setting up for a better second half of 2024.
The freight market was more reactive to the Fourth of July holiday than the year prior, but capacity has been quick to return to the road.
Volumes, rejection rates and spot rates remain elevated, setting the stage for the summer months.
Volumes, rejection rates and spot rates remain elevated following the Memorial Day holiday, setting the stage for the summer months.
Shippers at constant risk of damaged freight, and often only recover a fraction of the value with carrier liability, says Echo Global Logistics SVP Molly Mangan.
The upcoming in-person Broker-Carrier Summit on April 22-24 in Kansas City, Missouri, seeks to take those relationships to the next level.
Here are four innovative companies FreightWaves was introduced to at the Mid-America Trucking Show in Louisville, Kentucky.
Even as carriers’ pricing power deteriorated, freight demand was consistently robust throughout February.
The early stages of this recovery are characterized by a rebalancing market, a return to normalcy after a four-year roller coaster of volatility.
Sadie Church, president of Recruit Hire Retain, joined Jeremy Reymer on a recent episode of Taking the Hire Road. The duo dove into Church’s trucking industry background and her passion for helping carriers improve their recruiting and retention processes.
Brokers and carriers are still feeling the sting of the ongoing freight recession, and factoring companies can be critical partners during this time.
As many are predicting another shift in the second half of the year, the co-founder of Sifted has advice for both carriers and shippers moving into 2024.
The sustained imbalance between supply and demand has yet to be corrected, such that only an unprecedented tidal wave of demand could satisfy the current amount of capacity in the national freight economy.
Spot rates did eventually see a boost at the start of the new year, albeit one that was unable to meet our prior forecasts.
Tender volumes began to outpace 2020 earlier this week and are now marching toward favorable comparisons with 2021.
Volumes are leveling out at the start of December, delaying the seasonal dip that ordinarily occurs at this time of the year.
Tender volumes were outpacing 2022 levels before the holiday and came within spitting distance of 2020 — freight demand’s second-best year on record.
CMA CGM, like many other carriers, is reporting serious revenue loss. The North America president and CEO goes into detail with American Shipper and explains why the company is investing in more physical infrastructure.
This week, freight markets underwent a surprising rally that saw a wave of volumes sweep across the country.
Domestic manufacturers fail to inspire optimism, since they foresee major headwinds on output in the first half of 2024.
The upcoming months are littered with major holidays during which carriers can leverage seasonal constraints on capacity for higher spot rates.
Freight broker and carrier agents at PFQ Companies — carriers Pioneer Transport, Falcon Transport, Quaker Transport and brokerage Quaker Transportation — are thriving, having built businesses able to withstand market highs and lows.
Outside of the holiday rush periods, the fundamental lack of freight demand will continue to expose the lingering overcapacity in the market.
The impacts of double brokering are felt by carriers and brokers alike, disrupting operations and causing financial and liability risks for everyone involved.
Given the surplus of available capacity, shippers are more confident in switching to “just-in-time” freight strategies as consumer resilience remains an open question.
By next week, it is likely that actual freight flow will have finally risen on a yearly basis for the first time since May 2022.
Consumer demand during the holiday season is expected to be relatively soft, which should temper expectations for a red-hot peak season in truckload markets.
Perhaps the most pressing question for both freight markets and the broader economy is how the consumer will fare in the coming months.
Rejection rates gathered some promising momentum in the run-up to Labor Day, though these gains are slowly being lost.
Carriers want the right freight fit for their needs to make sure it’s moved efficiently from point A to point B. Unfortunately, this is much more complicated than it may […]
After a none-too-brief break, the Pricing Power Index is resuming its regular Friday schedule.
“We’re constantly in touch with customers to make sure services and standards are met,” said Sam Burkhan, CEO and co-founder of ITF Group.
Ditat is planning to roll out its new user interface, which will improve the overall appearance of its TMS, making it more mobile-friendly.
“…at FreightVerify, it is a distinct honor to play a role in the industry’s transformation,” said FreightVerify’s Greg Nelson.
A collapse in volumes, an overabundance of carriers in the market and rising operational costs have tested transportation providers’ endurance. All the while, companies continue to combat deep-rooted issues that […]
Companies that are able to make data-driven decisions gain a competitive edge over their peers in any market.
Against significant odds, the Federal Reserve might realize its once-unlikely goal of a “soft landing” — that is, taming inflation without also triggering a recession.
Freight volumes continue to trend sideways, which is a positive sign overall as the 15th of July traditionally marks a time for slowing demand in the freight market.
Low-volume contract lanes are often overlooked due to their size, but if mismanaged, these small volumes can have a large impact on a shipper’s bottom line.
Demand from retail shippers is historically quiet in the period from now until August, after which retailers restock their shelves for the back-to-school season.
Canada and Mexico are seeing tremendous growth as a result of nearshoring efforts. This has generated significant interest in cross-border capabilities.
Demand from retail shippers is historically quiet in the period from now until August, after which retailers restock their shelves for the back-to-school season.
Maritime’s peak season — which typically ramps up in August and lasts throughout October — is expected by retailers and supply chain professionals to be weaker than it has been in previous years.
Tender rejections have yet to return to mid-May’s all-time low, but their softness could persist in a trough for the next two quarters.
One last round of bad news to cap this week: China and the U.S. both posted dismal data from their respective industrial economies.
Volumes did see some growth ahead of the upcoming Memorial Day holiday, though not nearly enough to bust out the champagne and sparklers.
LASH carriers were the predecessors to today’s container ships. In 1974, soon after they hit the scene, a record number of the ships were built.
Reliance Partners’ CFO, Thomas Albrecht, warns about the underestimated impact of the ongoing bank crisis on the freight community. Discover how loan activity, interest rates, and funding for truckers and carriers may be affected.
So as not to bury the lede, this week’s lack of change in the PPI might ultimately prove to be the most exciting stability in quite some time.
Despite expectations for seasonal growth in the second quarter, the health of the American consumer has continued to become more precarious, stirring headwinds for even once-reliable sources of freight.
Volumes are just beginning to tick up at the tail end of April, but freight demand in the quarter has been mostly flat and thus grossly unseasonable.
TriumphPay and Highway join forces to create an exclusive algorithm that will combat double brokering.
“We could make carriers’ lives easier by giving them a single tool that they can use to make sure that they are not missing any hiring steps,” said LogRock co-founder and CEO Hunter Yaw.
While ocean carriers are not facing the same risks as their domestic trucking counterparts, given their consolidation and enormous war chests, ocean’s weakness in demand will continue to trickle down into truckload markets.
Despite seeing slight seasonal growth, truckload markets are showing a continued soft patch.
“Our growth and potential were being hindered by manual processes and limited visibility into workflows,” US Cargo Brokers founder Adam Konopko said. “After adopting Ditat’s TMS, US Cargo experienced a complete transformation.”
Echo Global Logistics has held true to the same goal since its inception almost 20 years ago: Make transportation management simpler.
The gap between current levels of freight demand and those of 2019 is narrowing, casting doubt on the market’s ability to sustain growth.
The consumer will be key to resolving the present tension in freight demand’s future, but consumers continue to be predictably unpredictable.
Market conditions will likely become a bit more favorable before they get much worse.
Strangely enough, tender volumes are abiding by seasonal trends.
“If we take what we’ve learned about compliance over the last 20 years and combine it with the latest technology, it’s possible to speed up the process significantly and make it a better experience for drivers,” Foley and CEO Joel Sitak said.
Strangely enough, tender volumes are abiding by seasonal trends. The first quarter of 2022 was unusually active as shippers tried to get ahead of disruptions to capacity, which historically tightens in the spring.
With the inflation-squeezed consumer running through their discretionary budgets, freight demand is in a precarious state.
Consumers’ appetite for discretionary spending has been usurped in favor of squirreling away income into personal savings.
Carriers make good on drivers’ on- and off-the-road preferences
Volumes have continued their recovery from the winter holiday season with a surge in pent-up freight demand unleashed into the market. Naturally, since last week’s data was affected by holiday noise, the Outbound Tender Volume Index (OTVI) faces some absurdly easy comps on a weekly basis. Even still, accepted tender volumes remain below their levels of 2021 and ’22 for the time being.
Volumes have continued their recovery from the winter holiday season with a surge in pent-up freight demand unleashed into the market. Naturally, since last week’s data was affected by holiday noise, the Outbound Tender Volume Index (OTVI) faces some absurdly easy comps on a weekly basis. Even still, accepted tender volumes remain below their levels of 2021 and ’22 for the time being.
For all intents and purposes, the month of December has only three weeks of freight activity, as the final week from Christmas to New Year’s is effectively null. In years prior, freight demand has fallen throughout the month before bottoming out in that final week. So far, December looks to be following seasonal trends, which is to say that, while shippers’ activity is winding down, this movement is not alarming by itself. Rather, the gap in freight demand between 2022 and ’21 (or even ’20) is the main symptom of current ailments.
The holidays are quickly approaching, and shoppers are checking off their gift lists. This year, however, the festive frenzy has not been strong enough to create a traditional peak season effect.
For all intents and purposes, the month of December has only three weeks of freight activity, as the final week from Christmas to New Year’s is effectively null. In years prior, freight demand has fallen throughout the month before bottoming out in that final week. So far, December looks to be following seasonal trends, which is to say that, while shippers’ activity is winding down, this movement is not alarming by itself. Rather, the gap in freight demand between 2022 and ’21 (or even ’20) is the main symptom of current ailments.
Meeting consumer demands is a team effort that involves shippers, carriers, retailers and technology providers.
Contrary to popular opinion, December is not a peak season for freight. True, the freight that needs to be moved in this month typically has greater urgency than usual, which does put upward pressure on carrier rates. But peak truckload volumes are largely influenced by maritime imports, which historically peak between July and September.
PGT is uniquely positioned to be a part of the industrywide change, working toward larger sustainable goals while still creating immediate impacts within its own company.
Newest Convoy survey shows environmental impact as newest sustainability motivation over governmental relations.
The folks at Convoy believe that this soft market will continue through the beginning of the new year as demand is declining faster than supply.
Historically, November is the month in which maritime imports begin to move inland for their final push before the holiday shopping season. Yet such imports were lost at sea this year, failing to materialize during ocean shippers’ peak season. This one-two punch of weakened import volumes and overstocked retail inventories means that carriers are left with fewer opportunities to source freight.
Carriers are grappling with unfavorable market shifts across the board. With prowess and the right partners, however, carriers can remain profitable — and even competitive — in a loosening market.
