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Unseasonable surge in demand for domestic transportation offers a glimmer of hope, with OTVI up 7% versus month-ago levels.
The domestic transportation sector is experiencing an unusual increase in truckload tender volumes, diverging from the typical summer demand patterns. The national Outbound Tender Volume Index (OTVI), which represents the electronic requests from shippers to carriers, has seen an approximately 7% surge compared to the previous month.
This shift provides a refreshing break from the trends of 2022, when tender volumes fell by around 17% from early March to late April. While theories suggest recent labor disputes could be driving this increased activity, the capacity remains ample, showing the industry's resilience in meeting this unexpected demand.
Source: FreightWaves
The freight market just might surprise us with a robust 2H.
— Craig Fuller 🛩🚛🚂⚓️ (@FreightAlley) July 29, 2023
I've been incredibly bearish on a second-half turn-around in freight volumes, but we are seeing green shoots in the data that might prove me wrong. pic.twitter.com/EX4BdIEmsB
Freight markets show slow recovery signs, but challenges persist. Dive into the latest tonnage, load-to-truck ratios, and order data shaping the trucking industry.
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