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The Weekly Tender: Truckload market surging

The article from Yahoo News discusses the current trends in the truckload market as of early 2023. It highlights a significant surge in tender volumes, with a 15.3% increase in the Truckstop system and a 12.5% rise in the FreightWaves SONAR Outbound Tender Volume Index (OTVI). This increase is attributed to seasonal demand, restocking efforts, and a shift in consumer spending towards goods rather than services. Despite the volume increase, the market shows signs of capacity loosening, with the Outbound Tender Reject Index (OTRI) dropping to 3.79%, indicating that carriers are less likely to reject loads. This suggests an abundance of capacity, potentially leading to lower rates. The article also notes that while there's a demand increase, the market dynamics are shifting, with carriers possibly accepting lower rates due to the competitive environment. However, there's an expectation of a slight rate increase in the near future due to seasonal factors and potential capacity tightening.

Read the Full Yahoo Article at:
[ https://www.yahoo.com/news/weekly-tender-truckload-market-surging-153244415.html ]