Chart of the Week: Van Contract initial report of average base cost per mile, Van Outbound Tender Rejection Index – USA SONAR: VCRPM1.USA, VOTRI.USA
The post-pandemic trend of pricing long-term or contract rates to the floor is not over, but the data shows this is slowly ending.
Looking at the past six years of dry van contract rates (VCRPM1) and van tender rejection rates (VOTRI), we can see a lagging correlation between the two. Rejection rates tend to lead the slower-to-move contract rates.
https://www.freightwaves.com/news/is-the-rate-rollercoaster-about-to-turn