The story last week was the huge rebound in tender volumes against a very depressed weather-influenced comparison from a snowstorm blanketing most of the U.S.
The West Coast port markets that drove much of the freight volumes in the back half of 2020 heated up again this week, and that led to the Outbound Tender Volume Index (OTVI) rising 2.7% this week to 14,051.
The capacity picture is still lagging and continues to be at historically loose levels, but even though spot rates bounced in a few markets, overall rates are still horrible. The result is continued pricing power for shippers in the weekly DHL Supply Chain Pricing Power Index.
