This is a bi-weekly series that brings the insights we use to get your shipments from A to B from our carrier sales floor to your home office.
This week, Loadsmart’s Chloe Cas, breaks down what happened last week and what to expect this week in the freight market in less than 2 minutes.
WHAT HAPPENED LAST WEEK
Last week the new year started with a bang. Surprisingly, outbound tender rejections continued to climb out of their Holiday slump which is outside the standard soft demand of the new year. We can attribute most of this capacity crunch to harsh winter weather in the Midwest, Northeast and Mid Atlantic regions. And of course, the persistent challenges in the ports. Seattle saw over a 4.5 point increase in rejections while Chicago increased 2.4 points. Volumes remained at a similar level as Jan 2021.
WHAT TO EXPECT THIS WEEK
Heading into this week. Winter weather and congested ports will remain a constant challenge for transport. We also will start to look into future holidays coming up; Chinese New Year and Orthodox Christmas. These holidays will affect capacity in certain markets, most notably West Coast and Chicago. Keep eyes on outbound tender volumes and rejections as rates will stay influx until these indexes balance out.
STAY UP TO DATE
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