Weekly Freight Market Update: How Low Can Tender Rejection Rates Go?

Capacity continues to be abundant across the nation. National tender rejection rates hit a 12-month low on Tuesday, April 9 — reaching 4.85%.

Jump in Tender Rejection Rates

However, on Wednesday, April 10, tender rejection rates jumped 13.2% — the largest single-day increase of the year so far — to 5.5%. It’s possible that tender rejection rates have hit a floor.

With a few false starts, signs of spring have been slow to bloom this year. National volumes are similar to this time last year and have decreased week over week.

Egg Production Market Stabilizing Its Tender Rejections

With Easter approaching on April 21, candy and egg transportation is having an impact in some local markets. In Grand Rapids, Michigan, egg production continues to tie up freight capacity as rejection rates remain around 10.5%, a significant increase from the remainder of the region.

Stay on top of the trends impacting your lanes

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. Our online freight RFP booking solution provides better freight RFPs, real-time dynamic pricing, and guaranteed tender acceptance. It’s free to access, simply sign in or register now.

Convoy Team
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