OTVI

Port of Oakland becomes next overflow valve for shippers

Chart of the Week: Inbound Ocean TEU Volume Index – Port of Oakland, Outbound Tender Volume INdex – San Francisco, Stockton  SONAR: IOTI.USOAK, OTVI.SFO, OTVI.SCK

Shippers are booking over two times the amount of freight coming into the Port of Oakland as this time last year — a trend that could make the Northern California markets a much more favorable destination for truckload providers as evidenced by the increasing outbound tender volumes.

Normally a backhaul region, or an area that consumes...

https://www.freightwaves.com/news/port-of-oakland-becomes-next-overflow-valve-for-shippers

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

Catch your breath: This lull won’t last long

This week’s DHL Supply Chain Pricing Power Index: 75 (Carriers)

Last week’s DHL Supply Chain Pricing Power Index: 75 (Carriers)

Three-month DHL Supply Chain Pricing Power Index Outlook: 70 (Carriers)

The DHL Supply Chain Pricing Power Index uses the analytics and data in FreightWaves SONAR to analyze the market and estimate the negotiating power for rates between shippers and carriers.

The Pricing Power Index is based on the following indicators:

Load volumes: Absolute levels positive for carriers,...

https://www.freightwaves.com/news/catch-your-breath-this-lull-wont-last-long

Tender volumes fall back this week

As we enter the second quarter, the setup couldn’t be much more favorable to carriers. The Outbound Tender Volume Index (OTVI) retreated 4% this week but remains not far off of an all-time high at 15,178. 

The economy is in full-on recovery mode, driven by stimulus-aided consumer spending. But the consumer economy is not the only sector in growth mode. The ISM Purchasing Managers Index for the manufacturing sector rose to 64.7 in March, the highest reading since December of 1983. 

The National...

https://s29755.pcdn.co/news/tender-volumes-fall-back-this-week

Tender volumes up strongly this week

After three consecutive weeks of very little volatility, the Outbound Tender Volume Index (OTVI) showed signs of life, jumping ~4% this week. Besides a pre-Thanksgiving surge last year, OTVI is at an all-time high at 15,871 currently. 

According to Bank of America, total card spending was up 45% over last year and up 23% over 2019 for the seven days ending March 20.  

The stimulus is providing a huge boost to Americans, who by and large, still remain unable to spend on big-ticket services like...

https://s29755.pcdn.co/news/tender-volumes-up-strongly-this-week

Tender volumes slip this week

Tender volumes slipped by 2.7% overall this week on a national basis but from a very elevated base. If one looks at the weekly Outbound Tender Volume Index (OTVI) map below, one might think freight markets have reversed course and are retreating significantly. Here’s the OTVI weekly change for select major markets:

Ontario, California: -6% 

Atlanta: -4.5%

Indianapolis: -7.5%

Harrisburg, Pennsylvania: -5%

Houston: -3.5%

Stockton, California -8%

(Chart: SONAR; 3-D Map; Weekly outbound tender volume...

https://s29755.pcdn.co/news/tender-volumes-slip-this-week

Tender volumes flat week-over-week at very high level

The freight markets have reentered “chaos is business as usual” territory. There has been very little change to any of the major indices this week as the Outbound Tender Volume and Reject Indices have both moved horizontally for two weeks now. Since the winter blizzard disruption, tender volumes took a leg up and have remained elevated since. The natural peak in tender volumes (and rejections) seems to be in place, but the spring freight season is upon us. 

Year-over-year comparisons are...

https://s29755.pcdn.co/news/tender-volumes-flat-week-over-week-at-very-high-level

Tender volumes stable at a very high level

After the winter storm disruptions, freight tender volumes have stabilized and moved horizontally this week. The Outbound Tender Volume Index is up ~16% yoy when adjusting for the high level of rejected tenders. Yearly comps will soon become tougher given the 30% volume surge last March on the backs of consumer panic buying and hoarding of grocery and household staples. 

We are entering the seasonal second-gear freight markets find toward the end of Q1. Not only does the warm weather bring about...

https://s29755.pcdn.co/news/tender-volumes-stable-at-a-very-high-level

Spot rates up nearly 25% since Feb. 1, carriers cruising

This week’s DHL Supply Chain Pricing Power Index: 80 (Carriers)

Last week’s DHL Supply Chain Pricing Power Index: 80 (Carriers)

Three-month DHL Supply Chain Pricing Power Index Outlook: 75 (Carriers)

The DHL Supply Chain Pricing Power Index uses the analytics and data in FreightWaves SONAR to analyze the market and estimate the negotiating power for rates between shippers and carriers.

The Pricing Power Index is based on the following indicators:

Load volumes: Absolute levels and momentum positive...

https://s29755.pcdn.co/news/spot-rates-up-nearly-25%-since-feb-1-carriers-cruising

Huge rebound in tender volumes as negative weather impact fades

The story this week was the huge rebound in tender volumes against a very depressed weather-influenced comparison from a snowstorm blanketing most of the U.S. In Texas, winter blizzards rampaged last week, leaving millions without power and creating major disruptions to economic activity. The Outbound Tender Volume Index for the states of Texas and Oklahoma both sank roughly 25% last week as residents and businesses shuttered. 

However, this week volumes have snapped back greatly to well above...

https://s29755.pcdn.co/news/huge-rebound-in-tender-volumes-as-negative-weather-impact-fades

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