OTVI

As expected, freight volumes have roared out of the Independence Day disruption and currently sit at 12,592. The Outbound Tender Volume Index (OTVI) remains up 25% year-over-year, hardly falling from its pre-July Fourth peak. July of last year (2019) exhibited typical freight seasonality, so yearly comparisons are relatively easy. 2018 was a banner year for freight volumes and yet, currently freight volumes are 23% higher than 2018. 

There is little evidence that leads us to believe freight...

https://s29755.pcdn.co/news/volumes-stay-strong-up-25-year-over-year-in-a-recession

The outbound tender volume index (OTVI) is shown as a seven-day moving average to smooth out day-to-day volatility. As such, when national holidays occur and many drivers get off the road and shippers shut down, OTVI declines quickly and stays depressed for seven days. We are currently one day away from OTVI returning to non-holiday levels. Due to its nature, weekly volume comparisons are rendered useless this week. 

We can, however, compare the depth of the decline to gain insights on where the...

https://www.freightwaves.com/news/volumes-fall-post-july-4-as-expected-but-remain-strong

Volumes have continued to burst all around the country this week. Carriers are rejecting loads at rates only seen during the March panic-buying spree buildup. Spot rates have been bid up above 2019 levels in many markets around the country, but it is unlikely that this trend continues given there is typically a significant drop-off in outbound volume after the Fourth. However, volumes are so high currently that even a significant decline could still keep OTVI above 2018/2019 comparables. 

Outboun...

https://www.freightwaves.com/news/volumes-up-45-year-over-year-this-week-yes-45

Volumes are scorching and are running up 20% year-over-year (y/y). Large asset-based carriers have begun to rapidly reject contracted freight. This is putting upward pressure on spot rates. Independence Day typically marks the beginning of the mid-summer slow down. If volumes continue flowing like this post-Fourth of July, and tender rejections remain elevated, there is potential for a significant capacity squeeze in the third quarter. 

Outbound tender volumes continued to spike in many regions...

https://s29755.pcdn.co/news/scorching-volumes-lead-to-double-digit-tender-rejections

Freight volumes remained strong this week and remain well above both 2018 and 2019 levels. Capacity has taken a long time to react to these elevated volume levels. Tender rejections are finally reaching levels that may suggest upward pressure on rates. 

SONAR: OTVIW.USA

National volumes remained strong this week after two strong weeks to begin June. The Outbound Tender Volume Index currently sits at 11,324, up slightly from last week (0.84%). Despite the flattish week, yearly comparisons remain...

https://s29755.pcdn.co/news/strong-volumes-spilling-over-into-capacity

Tender volumes continued to surge higher for the fifth week in a row. Many markets across the country have begun to be filled with freight and capacity has gradually tightened across the country. However, for the current volume level, we do believe capacity has been slow to react. Consumer spending data continues to impress and give us hope for a strong recovery on that front.  

The outbound tender volume index continued soaring higher out of the Memorial Day disruption and now...

https://s29755.pcdn.co/news/volumes-keep-on-rolling-up-7-year-over-year

Outbound tender volumes posted the highest June 5th total in the three-year series history, while this doesn’t match the surge seen in March due to pre-stocking, for this time of year, it is telling how aggressive the volumes are.

Volumes have made a huge climb over the past few weeks and there isn’t much to point towards a slow-down. Capacity is reacting very slowly to the volume surge, but the Outbound Tender Rejection Index (OTRI) has finally broken the 5% threshold. Spot markets have come...

https://s29755.pcdn.co/news/strong-volumes-again-up-7-year-over-year

Outbound tender volumes are benefiting greatly from the reopening of the economy and a release of pent-up consumer demand. Supply dynamics are taking longer to adjust and capacity remains loose. While rates are coming off a depressed base, spot rates have surged to $1.47 per mile and have increased in the vast majority of lanes. Consumer spending data is improving, now only running down 10% year-over-year compared to the -40% trough.

On a weekly basis, volumes fell 8%, ending the multiweek...

https://s29755.pcdn.co/news/volumes-fall-week-over-week-but-now-up-10-year-over-year