Reefer spot rates hit five-month low as capacity loosens. After a relentless uptrend from May through September 2020, reefer spot rates stabilized through the end of the year. Aside from a short-lived spike around the holiday season, rates have contracted at a rapid rate through 2021 and are now at the lowest level since August.
The decline in reefer spot rates coincides with falling tender rejection rates (ROTRI), a measure of how difficult it is for shippers to source capacity. Easing price...
https://www.freightwaves.com/news/the-stockout-reefer-spot-rates-fall-as-contract-rates-catch-up