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.
FreightWaves’ December State of Freight webinar looked at the disconnect between healthy volumes and low rejection rates.
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.
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.
Outside of the holiday rush periods, the fundamental lack of freight demand will continue to expose the lingering overcapacity in the market.
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.
Monday data from Cass Information Systems showed slight improvement from July to August but the comparisons to 2022 worsened.
Perhaps the most pressing question for both freight markets and the broader economy is how the consumer will fare in the coming months.
Small fleets can get a voucher twice the standard $120,000 when purchasing an electric truck. And they don’t even have to purchase it.
Rejection rates gathered some promising momentum in the run-up to Labor Day, though these gains are slowly being lost.
In today’s fast-paced supply chain environment, it is important to know and understand the trends most likely to shape the future.
After a none-too-brief break, the Pricing Power Index is resuming its regular Friday schedule.
DOT and MarAd are moving on a new database aimed at preventing vessel collisions.
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.
Democrats said they respect workers’ rights to strike in the event negotiations between the Teamsters and UPS fail.
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.
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.
To help you navigate the constant and transformative changes moving today’s supply chain, DHL Supply Chain’s Transportation Quarterly Report highlights what to watch each quarter.
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.
The effects of marijuana impairment on truck driving is not fully understood due in part to limited research, according to a new ATRI report.
One last round of bad news to cap this week: China and the U.S. both posted dismal data from their respective industrial economies.
There may be plenty of hand-wringing about California’s Clean Fleets rule, but fleets are advised to start getting ready for it.
Volumes did see some growth ahead of the upcoming Memorial Day holiday, though not nearly enough to bust out the champagne and sparklers.
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.
Cuts at C.H. Robinson impact 2% of its global workforce.
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.
The Q2 Freight Sentiment Indexes show carriers lower, brokers higher and shippers about the same despite ample pricing power.
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.
The gap between current levels of freight demand and those of 2019 is narrowing, casting doubt on the market’s ability to sustain growth.
C.H. Robinson is not rushing to select Jim Barber as CEO, leading some to wonder if he is the perfect fit for the demanding job.
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.
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.
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.
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.
Tony Tzeng tells FreightWaves’ Domestic Supply Chain Summit that Transfix’s TrueRate+ program is designed to guarantee tenders with an optimal blend of price and service.
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.
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.
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.
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.
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.
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.
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.
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.
Contract and spot rates continue their downward trend despite volume levels and rejection rates flattening out…
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.
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.
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.
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…
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%…
The 7th Circuit Court of Appeals has ruled that simply discouraging an employee from filing a FMLA request is enough to have violated the employee’s rights.
Volume levels have restarted their decline, as have spot rates. The national rejection rate has fallen below 9%…
Despite the debate on ocean shipping reform, the law will be signed into law by President Biden relatively soon. With his presidency increasingly defined by record-breaking inflation, it is clear his administration is focused on efforts to correct course.
Trailer makers continue to push away orders as supply chain issues in different areas vex production amid stable pent-up demand.
As diesel and gasoline prices climb faster than the price of crude, a drop in U.S. refining capacity is seen as a key factor in the explosion in diesel levels.
Volume levels have restarted their decline, as have spot rates. The national rejection rate has fallen below 9%…
Compliance with the Americans with Disabilities Act is a requirement for companies, and even honest mistakes can trigger violations.
FMC rulemakings and reports included in the Ocean Shipping Reform Act of 2022 will begin taking shape soon after the bill is enacted. Here’s a breakdown.
Volume levels have restarted their decline, as have spot rates. The national rejection rate has fallen below 9%…
Truck transportation job gains posted in May were up more than 13,000, the third time in the last four months they’ve exceeded 10,000.
History is a good indicator of what will happen at the polls this November, with Republicans expected to regain at least one chamber of Congress.
Volume levels have restarted their decline, as have spot rates. The national rejection rate has fallen below 9%…
Changes in the field of arbitration are afoot and employers who utilize arbitration clauses need to stay up to date on these changes as they will impact the ability to arbitrate employee claims.
Tax collections are halted until at least July 14. The state’s supply chain emergency edict remains in effect.
Inventories of ultra low sulfur diesel on the East Coast moved down again after last week’s increase, but other statistics may promise relief to some buyers.
Volume levels have restarted their decline, as have spot rates. The national rejection rate has fallen below 9%…
Independent contractor status has been a particularly contentious issue for the trucking industry, and with a more pro-union posture from Washington, bears watching.
Attracting younger workers to trucking companies means investing in technology that eases wait times and routing and improves communications, experts said.
With CVSA’s annual International Roadcheck fast approaching, now is the time for carriers and drivers to prepare for the inspection process.
Volume levels have restarted their decline, as have spot rates. The national rejection rate has fallen below 9%…
A supervisor claimed he was fired because of his age. A court disagreed. For employers, though, it reinforces the need to properly train supervisors and employees on discrimination as a means of preventing it happening.
CFI driver Zach Yeakley “wasn’t really expecting anything out of it” when he was recognized for helping pull six crash victims from fiery cars.
Supply chains need diverse sourcing strategies and more real-time information to manage disruptive forces unleashed by COVID and the Ukraine invasion.
The executive envisions a “connected ecosystem” where all capacity and shipments move simultaneously and in real time.
AskWaves has reviewed the latest comments on a proposal allowing oral fluid instead of urine to test for drugs — the trucking industry mostly likes it.
Volume levels have restarted the decline after recovering after Easter Weekend. The national rejection rate has fallen below 9%…
There is no easy fix to rising fuel prices without stripping government of much-needed infrastructure money.
