Weekly Freight Market Update: Capacity Moves to Warmer Markets
Carriers headed to warmer markets
Markets in the Northeast, including Baltimore, Maryland, Harrisburg, Pennsylvania, and Cleveland, are experiencing increased rejection rates, revealing tightening capacity. This would typically indicate increased volume that is using more trucks — but in this case, volume has actually decreased. The imbalance is due to capacity moving out of an area with looming adverse weather. Memories of gelled fuel and closed roads are still fresh from last week when a storm left drivers stranded, and they don’t want to repeat the scenario. This is benefitting shippers in some regions. In the Southeast, for example, some markets are attracting carriers from the north and seeing relatively large volume increases. Nashville has seen 25% more freight over the last eight days. Charlotte is another bright spot with 1.55% of the nation’s freight and a 52-week-low rejection rate of just 5.76%. Want to know what’s happening where you ship?
See a detailed breakdown of trends in your region with the Convoy Shipper Platform. The Market Outlook curates a view of freight impacts and trends by region to give you a full picture of the market. It’s free to access — simply sign in or register now.
