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.
The Freightos Baltic Index (FBX) is the world’s leading—and most accurate—index of market rates for 40′ containers.
Convoy is looking to improve the contracted freight market for small carriers and shippers with forever-evolving freight needs.
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.
The Freightos Baltic Index (FBX) is the world’s leading—and most accurate—index of market rates for 40′ containers.
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.
On Tuesday, FreightWaves interviewed Werner Chief Information Officer Daragh Mahon about the company’s recent partnership with Samsara, diving into how AI and updated legacy systems are transforming Werner’s 8,500-truck fleet.
The Freightos Baltic Index (FBX) is the world’s leading—and most accurate—index of market rates for 40′ containers.
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.
Wabash and J.B. Hunt Transport have signed a multiyear deal that will supply J.B. Hunt with 15,000 trailers. The size and scope of the pact are significant, as the past two years saw pandemic-related supply chain disruptions throttle up new trailer orders, causing the average age of existing trailers to rise.
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.
Persistently higher inventory levels are causing a drag on truckload tender volumes as 2023 begins. 2019 and 2018 SONAR data indicates we may approach levels of pre-pandemic seasonality, but higher truckload capacity will continue to negatively impact rates until enough truckload supply leaves the market.
The Freightos Baltic Index (FBX) is the world’s leading—and most accurate—index of market rates for 40′ containers.
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 Freightos Baltic Index (FBX) is the world’s leading—and most accurate—index of market rates for 40′ containers.
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.
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.
Ocean carriers have been shielded by lucrative annual contracts with cargo shippers, but contract coverage is starting to crumble.
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.
The Freightos Baltic Index (FBX) is the world’s leading—and most accurate—index of market rates for 40′ containers.
Since the pandemic started, many shippers found their existing contracts unable to ensure carrier compliance. Supply and demand were especially volatile, and so spot rates, which are more sensitive to changing market conditions, handily outpaced contract rates.
The Freightos Baltic Index (FBX) is the world’s leading—and most accurate—index of market rates for 40′ containers.
Since the pandemic started, many shippers found their existing contracts unable to ensure carrier compliance. Supply and demand were especially volatile, and so spot rates, which are more sensitive to changing market conditions, handily outpaced contract rates.
The Freightos Baltic Index (FBX) is the world’s leading—and most accurate—index of market rates for 40′ containers.
Since the pandemic started, many shippers found their existing contracts unable to ensure carrier compliance. Supply and demand were especially volatile, and so spot rates, which are more sensitive to changing market conditions, handily outpaced contract rates.
The truckload market is already experiencing a rapid deterioration in pricing. How long until the LTL market recognizes this inevitability?
Uber Freight recently released a report on contracted rates. Its consensus is that contract rates are indeed falling, but like a game of contracted musical chairs, we still do not know when the music will stop.
Hurricane Ian boosted spot rates in the southeast over the past 10 days, but as rejection rates and volumes decline, when will spot rates on a national level take another step lower.
The Freightos Baltic Index (FBX) is the world’s leading—and most accurate—index of market rates for 40′ containers.
Since the pandemic started, many shippers found their existing contracts unable to ensure carrier compliance. Supply and demand were especially volatile, and so spot rates, which are more sensitive to changing market conditions, handily outpaced contract rates.
Since the pandemic started, many shippers found their existing contracts unable to ensure carrier compliance. Supply and demand were especially volatile, and so spot rates, which are more sensitive to changing market conditions, handily outpaced contract rates.
The outlook for trucking companies buying new or used Class 8 trucks can best be described like a 2005 Facebook relationship status — “It’s complicated.”
Since the pandemic started, many shippers found their existing contracts unable to ensure carrier compliance. Supply and demand were especially volatile, and so spot rates, which are more sensitive to changing market conditions, handily outpaced contract rates.
The Freightos Baltic Index (FBX) is the world’s leading—and most accurate—index of market rates for 40′ containers.
Since the pandemic started, many shippers found their existing contracts unable to ensure carrier compliance. Supply and demand were especially volatile, and so spot rates, which are more sensitive to changing market conditions, handily outpaced contract rates.
Since the pandemic started, many shippers found their existing contracts unable to ensure carrier compliance. Supply and demand were especially volatile, and so spot rates, which are more sensitive to changing market conditions, handily outpaced contract rates.
The Freightos Baltic Index (FBX) is the world’s leading—and most accurate—index of market rates for 40′ containers.
Contract and spot rates continue their downward trend despite volume levels and rejection rates flattening out…
Rail service levels are impacting trucking intermodal growth plans. At a Deutsche Bank transportation conference on Tuesday, J.B. Hunt noted that intermodal demand remained strong but poor rail service appears to be creating a bottleneck.
Since the pandemic started, many shippers found their existing contracts unable to ensure carrier compliance. Supply and demand were especially volatile, and so spot rates, which are more sensitive to changing market conditions, handily outpaced contract rates.
The Freightos Baltic Index (FBX) is the world’s leading—and most accurate—index of market rates for 40′ containers.
Brokerages that already have customer contracts allow agents more rate stability
Since the pandemic started, many shippers found their existing contracts unable to ensure carrier compliance. Supply and demand were especially volatile, and so spot rates, which are more sensitive to changing market conditions, handily outpaced contract rates.
Since the pandemic started, many shippers found their existing contracts unable to ensure carrier compliance. Supply and demand were especially volatile, and so spot rates, which are more sensitive to changing market conditions, handily outpaced contract rates.
The ebb and flow of the logistics market.
The Freightos Baltic Index (FBX) is the world’s leading—and most accurate—index of market rates for 40′ containers.
Since the pandemic started, many shippers found their existing contracts unable to ensure carrier compliance. Supply and demand were especially volatile, and so spot rates, which are more sensitive to changing market conditions, handily outpaced contract rates.
In the nine days since July began, OTRI fell 141 basis points (bps) to its lowest level in over two years: 6.7%. In the three days following that bottom, OTRI clawed back 50 bps. At present, however, it seems as though any upward momentum upon which it could have built has been lost.
The Freightos Baltic Index (FBX) is the world’s leading—and most accurate—index of market rates for 40′ containers.
Volume levels are depressed this week by Monday’s holiday. The national average rate of tender rejections sunk below 7% late in the week, but linehaul spot rates…
The Freightos Baltic Index (FBX) is the world’s leading—and most accurate—index of market rates for 40′ containers.
Volume levels have made a final push before the second quarter ends. The national rejection rate has recovered from its earlier dip below 8%…
Volume levels have restarted their decline, as have spot rates. The national rejection rate has fallen below 8%…
Volume levels have restarted their decline, as have spot rates. The national rejection rate has fallen below 9%…
The Freightos Baltic Index (FBX) is the world’s leading—and most accurate—index of market rates for 40′ containers.
Volume levels have restarted their decline, as have spot rates. The national rejection rate has fallen below 9%…
“The cost of trucking is dramatically going down and we’re hitting a recession that is not going to get any better. It’s surprising how many shippers are running annual bids when they should be running three-month bid cycles on almost all of their lanes,” said Emerge founder and CEO Andrew Leto.
Volume levels have restarted their decline, as have spot rates. The national rejection rate has fallen below 9%…
The Freightos Baltic Index (FBX) is the world’s leading—and most accurate—index of market rates for 40′ containers.
Volume levels have restarted their decline, as have spot rates. The national rejection rate has fallen below 9%…
Volume levels have restarted their decline, as have spot rates. The national rejection rate has fallen below 9%…
Freight demand trends in a softening market continue to be bifurcated with large fleets remaining unscathed so far.
The Freightos Baltic Index (FBX) is the world’s leading—and most accurate—index of market rates for 40′ containers.
Volume levels have restarted their decline, as have spot rates. The national rejection rate has fallen below 9%…
Volume levels have restarted the decline after recovering after Easter Weekend. The national rejection rate has fallen below 9%…
The Freightos Baltic Index (FBX) is the world’s leading—and most accurate—index of market rates for 40′ containers.
Tender volumes and tender rejection rates are both on a rapid decline, signaling trouble for the truckload market. Carriers and shippers alike will need to…
Heavily contracted carriers are not feeling the full brunt of the truckload market easing just yet, but there is still a lot to be determined about what happens next.
Spot rates continue the rapid descent as truckload capacity continues to loosen rapidly. At the same time, accepted tender volumes turn…
Tender rejection rates are rapidly headed toward single digits, causing spot rates to resemble a black diamond slope rather than the bunny…
Tender volumes and tender rejection rates are both on a rapid decline, signaling trouble for the truckload market. Carriers and shippers alike will need to…
The Freightos Baltic Index (FBX) is the world’s leading—and most accurate—index of market rates for 40′ containers.
Tender volumes and tender rejection rates are both on a rapid decline, signaling trouble for the truckload market. Carriers and shippers alike will need to…
Both tender volumes and tender rejection rates take a breather over the past week. It’s too early to be called a trend but definitely…
Both tender volumes and tender rejection rates take a breather over the past week. It’s too early to be called a trend but definitely…
The Freightos Baltic Index (FBX) is the world’s leading—and most accurate—index of market rates for 40′ containers.
Both tender volumes and tender rejection rates take a breather over the past week. It’s too early to be called a trend but definitely…
Tender volumes recover most of last week’s decline while rejection rates continue their slow downward trend despite contract rate increases…
The Freightos Baltic Index (FBX) is the world’s leading—and most accurate—index of market rates for 40′ containers.
Tender volumes take a February nap, sliding 4% over the past week while rejection rates were flat despite weather affecting certain markets..
Tender volumes continue to outperform year-ago levels. Rejection rates have declined throughout the past week as carriers return to major…
The Freightos Baltic Index (FBX) is the world’s leading—and most accurate—index of market rates for 40′ containers.
Long-term contract rates are at record highs. Shipping lines hold all the cards at the negotiating table.
Tender volumes continue to outperform year-ago levels. Rejection rates have declined throughout the past week as carriers return to major…
Tender volumes continue to outperform year-ago levels. Rejection rates have declined throughout the past week as carriers return to major…
The Freightos Baltic Index (FBX) is the world’s leading—and most accurate—index of market rates for 40′ containers.
Tender volumes continue to outperform year-ago levels. Rejection rates have declined throughout the past week as carriers return to major…
Tender volumes continue to outperform year-ago levels. Rejection rates are continuing to rise in a unseasonable pattern placing pressure…
The Freightos Baltic Index (FBX) is the world’s leading—and most accurate—index of market rates for 40′ containers.
Rates reach new highs as capacity was slow to return to the road following the holidays. Tender volumes are soaring as demand is unrelenting…
Prices have increased 17% but carrier compliance shows only marginal improvement
Truckload volumes are beginning to erase holiday noise associated with Christmas and New Year’s. Rejection rates are staying elevated…
After a year of record revenue, carriers are staying of the road during the holiday weeks, holding rejection rates higher for longer…
Rejection rates are now back above 22%, the highest level since early September. Pricing power moved further to carriers despite the holiday related tender volume collapse.
Rejection rates have surged past the 21% level on the national level. Meanwhile, volumes have turned positive year-over-year. The combination of tightening capacity and stronger demand is placing upward pressure on rates.
Volumes turn downward heading into the Christmas week while rejection rates have rebound back above 20%. Carriers still maintain a firm grip on pricing power in the market.
The Freightos Baltic Index (FBX) is the world’s leading—and most accurate—index of market rates for 40′ containers.
Volume levels are following a similar trend to 2019, just 40% higher. Tender rejection rates are trending sideways, likely to move higher over the next week.
Tender volumes decline but remain elevated compared to ‘normal years’ meanwhile rejection rates have found footing around 20%.
