We believe the winter storms tip the scales in carriers’ favor ever so slightly. Freight markets were already imbalanced with seemingly insatiable demand overwhelming already strained carriers, and it’s only February.
Without much volatility in volumes and rejections over the past three weeks, freight markets have seemingly found their groove. The tune is akin to Berlin techno. To some, its pace is smooth and machine like. To others, its pure chaos.
This week’s DHL Supply Chain Pricing Power Index: 70 (Carriers) Last week’s DHL Supply Chain Pricing Power Index: 65 (Carriers) Three-month DHL Supply Chain Pricing Power Index Outlook: 75 (Carriers) The DHL Supply Chain Pricing Power Index uses the analytics and data in FreightWaves SONAR to analyze the market and estimate the negotiating power for […]
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We may be seeing signs of a traditional January lull, but at a much higher level than years past. On a rejection-adjusted basis, tender volumes are running up 23% yoy versus 20% last week. Tender rejections continue to decline modestly, but carriers are still rejecting more than 1-in-5 contracted tenders. Stimulus can only carry the freight markets so long. Fortunately, the industrial economy is revving up and retailers have significant restocking ahead.
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The Outbound Tender Reject Index has declined substantially since the beginning of the year. This shouldn’t be seen as a sign of a material capacity loosening, rather an effect of the ongoing rebid season pushing contract rates higher.
French company Shippeo, a supply chain visibility platform, has secured $32 million to continue product innovation and market expansion. The round, announced on Thursday, was co-led by Battery Ventures, along with existing investors NGP Capital, ETF Partners, Partech and Bpifrance Digital Venture. Founded in 2014, Shippeo joins a string of visibility platform companies that have […]
Bed, Bath & Beyond reported EPS of less than half consensus estimates. CEO Mark Tritton pointed to tight shipping capacity and elevated freight costs for the miss. Get used to hearing this.
The stage is set for a historically strong Q1 for freight with a slow vaccine rollout keeping a lid on services spending, and consumers are flush with recent stimulus as well as the hopes for more to come. The freight bull market rages on to start 2021.
Convoy continued to introduce new innovations in 2020, helping it rank third in FreightWaves’ FreightTech 25 ranking of innovative companies in freight.
There is a strong pipeline of West Coast imports that should feed those markets well into Q1, but the retail portions will be less time-sensitive post-Christmas. The one factor that may be suppressing volumes in the holiday season is retailers’ decision to slow the velocity of their sales in the face of low inventory levels.
2020’s supply chain changes because of COVID will likely stick around in 2021, and could become permanent fixtures of the modern supply chain, XPO’s Drew Wilkerson said.
In the heat of peak holiday season, our thesis is largely the same: relatively tight capacity, strong volumes and positive cyclicality. The low inventory-to-sales ratio, strong consumer sentiment and spending, lack of service-based spending options and acceleration of e-commerce growth all bolster our belief.
One carrier says preparing for winter is “about training and accountability throughout the organization.”
Both truckload tenders and tender rejections rose this week. If spot rates are to continue the succinct but lagging dance with tender rejections, we should see spot rates inflate over the next two weeks. Also, with Thanksgiving just a week away, drivers will be seeking freight that drives them toward home, which typically pushes rejections and spot rates higher.
Convoy co-founder and CEO Dan Lewis sat down with FreightWaves to discuss the unusual freight market that has dominated 2020 and the future of Convoy.
Emerge has announced Book It Now, a feature that allows carriers to instantly book freight from its Digital Freight Marketplace without the hassles of negotiation.
From road closures to terminal shutdowns, shippers can stay ahead of the weather to minimize its impacts.
We expect strong holiday truckload and parcel demand
driven by a consumer spending portfolio that has been weighted heavily toward goods over services since the pandemic began. We believe that we are now in peak season and that shippers’ requests for trucking capacity will continue to rise.
