OTRI

Subseasonal trucking market still soft and loose

The U.S. truckload market is still soft, with accepted contract shipments running approximately 5.5% lower than the year-ago period, and loose, as only 5.5% of contract truckload tenders are being rejected by carriers.

When market conditions are favorable to carriers, they reject more contracted freight and deploy their assets in the spot market, striving to maximize yield or revenue per loaded mile. When market conditions are unfavorable, carriers tend to reject fewer shipments and take what...

https://www.freightwaves.com/news/subseasonal-trucking-market-still-soft-and-loose

Truckers work through Labor Day as market continues to soften

Chart of the Week: Outbound Tender Rejection Index, Contract Load Accepted Volume – USA SONAR: OTRI.USA, CLAV.USA

Truckload volumes for contract freight jumped 3% in the week leading up to Labor Day while load rejections remained near annual lows below 6%. As a consequence, truckload spot market rates barely moved, increasing a marginal 2.3% in the week leading up to the holiday. Rates increased over 6% in 2021 off a much higher base value. This is the latest signal that the trucking market...

https://www.freightwaves.com/news/truckers-work-through-labor-day-as-market-continues-to-soften

Loaded and Rolling: U.S. Xpress pivots from Variant; Truckload volumes’ post-Labor Day slump

U.S. Xpress pivots from Variant
(Photo: Jim Allen/FreightWaves)

U.S. Xpress is going through a reorganization following a recent round of layoffs. The technology-driven Variant program will be merged into a larger Highway Services group, which will include the legacy over-the-road business and the USX freight brokerage. The company also announced a termination of the lease on Variant’s Atlanta headquarters due to the reduction in workforce and remote options.

In a call with analysts Thursday...

https://www.freightwaves.com/news/loaded-and-rolling-us-xpress-pivots-from-variant-truckload-volumes-post-labor-day-slump

Heavily contracted carriers having a better year than 2021 — so far

Contract load volumes and rates are outperforming last year’s levels

Chart of the Week: Contract Load Acceptance Volume, Contract Base Rate per Mile Initial Report, Dry Van – USA,  SONAR: CLAVV.USA, VCRPM1.USA

Carriers that move mostly contracted freight (not the spot market) may be having a better year this year than through the first five months of 2021. According to FreightWaves’ proprietary contract rate per mile index, long-term rates for standard van freight have increased roughly 18% since...

https://www.freightwaves.com/news/heavily-contracted-carriers-having-a-better-year-than-2021-so-far

Flatbed capacity at its tightest due to surging oil prices, construction boom

Chart of the Week: Flatbed Outbound Tender Rejection index, Van Outbound Tender Rejection index, Reefer Outbound Tender Rejection Index – USA  SONAR: FOTRI.USA, VOTRI.USA, ROTRI.USA

The national Flatbed Outbound Tender Rejection Index (FOTRI) hit two all-time highs this week, while refrigerated and van rejection rates were down. Flatbed capacity had been gradually tightening over the past four months in a somewhat unseasonable pattern. This upward trend in the FOTRI has accelerated as spring...

https://www.freightwaves.com/news/flatbed-capacity-at-its-tightest-due-to-surging-oil-prices-construction-boom

Refrigerated truckload demand stays hot in early winter

Chart of the Week: Reefer Outbound Tender Volume Index, Reefer Outbound Tender Rejection Index – USA  SONAR: ROTVI.USA, ROTRI.USA

Demand for refrigerated or reefer truckload capacity appears to be sustaining and even trending higher into what is traditionally a slower period for the sector, according to the Reefer Outbound Tender Volume Index (ROTVI). The ROTVI is a measure of demand for refrigerated truckload capacity that counts and indexes total electronic requests submitted by shippers to...

https://www.freightwaves.com/news/refrigerated-truckload-demand-stays-hot-in-early-winter

Truckload rate increases have done little to improve carrier reliability

Chart of the Week: Outbound Tender Rejection Index, Van Contract initial reporting average base rate per mile – USA  SONAR: OTRI.USA, VCRPM1.USA

The national Outbound Tender Rejection Index (OTRI) that measures the percentage of electronic requests for truckload capacity from shippers that carriers rejected pushed back over 22% over the Christmas holiday period, despite the fact that contract rates have increased approximately 17% over last year. Simply put, these rejections cost a lot more than...

https://www.freightwaves.com/news/truckload-rate-increases-have-done-little-to-improve-carrier-reliability

Trucking contract rates finally gain traction in October

Chart of the Week: Outbound Tender Rejection Rate, Van Contract Rate Per Mile Initial Report – USA SONAR: OTRI.USA, VCRPM1.USA 

The national Outbound Tender Rejection Index (OTRI), which measures carrier compliance for contracted moves, fell below 20% for the first time since July 31, 2020, this past week. This is somewhat unexpected considering trucking demand remains at all-time highs. Are contract increases gaining traction? 

It has been hard to isolate the impact of contract rate increases on...

https://www.freightwaves.com/news/trucking-contract-rates-finally-gain-traction-in-october

Carriers head west for a modern-day gold rush — of freight

Chart of the Week: Longhaul Inbound Tender Rejection Index – Regional – USA  SONAR: LITRI.URNE, LITRI.URNW, LITRI.URSE, LITRI.URSW, LITRI.URWT, LITRI.URMP, LITRI.URMW

Carriers have a clear preference in terms of where they are trying to position themselves in the U.S. and it illustrates just how unbalanced transportation capacity continues to be. Loads traveling more than 800 miles (long haul) to the West Coast have been rejected at nearly half the rate of any other region in the continental...

https://www.freightwaves.com/news/carriers-head-west-for-a-modern-day-gold-rush-of-freight

Another slow week for tender volumes

In some ways, the setup for carriers couldn’t be much more favorable. Despite tender volumes having declined nearly 10% since the start of the month, the current backdrop remains extremely strong. It seems freight markets are taking a breather after pushing to a YTD high to end the first quarter. 

SONAR: OTVI.USA (Blue); ROTVI.USA (Orange)

I wouldn’t get used to it. The Reefer Outbound Tender Volume Index (ROTVI) has steadily fallen since its all-time high in early March, when winter weather sent...

https://s29755.pcdn.co/news/another-slow-week-for-tender-volumes

+ More
Join Our Newsletter
Enter your email to receive a weekly round-up of shipping news.
icon
By subscribing, you agree with our privacy policy and our terms of service.