Tender rejection rates suffered the largest weekly decline in the past 6 weeks while tender volumes are being impacted by the holiday weekend

Tender volumes closed August higher, up 3.13% year over year. A slight rise in rejection rates before Labor Day was still below July peaks.

Tender volumes increased over the past week, while tender rejection rates remained unchanged. The next week will be important for the direction of the freight market in the fourth quarter.

Tender volumes started to gain a little positive momentum over the past week while tender rejection rates inched slightly lower…

The freight market is fairly stable to start August as spot rates and tender rejection rates experienced little change week over week…

Spot rates moved slightly higher in the final week of July, while rejection rates and volume levels continued to retreat from recent highs.

Spot rates have retreated off their recent high, but remain elevated compared to the rest of the year while demand and rejection rates are following seasonal trends.

The freight market is appearing to stabilize at higher levels after the Fourth of July, setting up for a better second half of 2024.

The freight market was more reactive to the Fourth of July holiday than the year prior, but capacity has been quick to return to the road.

Volumes, rejection rates and spot rates remain elevated, setting the stage for the summer months.

Volumes, rejection rates and spot rates remain elevated following the Memorial Day holiday, setting the stage for the summer months.

Despite the timing of the Lunar New Year, import volumes at three of the largest U.S. ports rose year over year.

The East and Gulf Coast ports continue to take market share from the largest West Coast ports, which had a challenging March.

Port Houston reported strong imports after a soft January as general cargo tonnage represented nearly 40% of total import tonnage in the month.

The initial shock factor is waning and ocean spot rates are losing momentum across the globe.

The CEO of the Port of Long Beach boss cited restocking ahead of the Lunar New Year as the driver for import growth in January.

Spot-exposed carriers are likely to see a boost to their Q1 2024 financials.

Port director Gene Seroka cited replenishing inventory and consumer spending as drivers of growth.

Hopes for a significant rebound in Panama Canal water levels to boost throughput will likely be met with a harsh reality over the next few months.

Freight volumes continue to trend sideways, which is a positive sign overall as the 15th of July traditionally marks a time for slowing demand in the freight market.