Trucking markets: A fundamental dislocation

Capacity ratcheted slightly tighter across a broad swath of the country again this week, but not yet to levels (7-10%) that would trigger widespread inflation in spot market rates. Spot rates for dry vans increased faster than spot rates for refrigerated equipment, which were flattish and may be peaking. Contracted truckload volumes to major carriers are still healthy and well above year-ago levels, but shippers are tendering mini-bid freight at prices lower than prevailing contract rates,...

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