With freight market trends constantly changing, Gerber Logistics has analyzed the following key takeaways from the month of July...
Potential increased import tariffs post January 2025
US container imports have surged throughout the summer, increasing 14 percent year over year in June and is up 18 percent at the end of July
Fourth consecutive month of decline in trucking jobs (30k less jobs than a year ago)
Warehouse and storage jobs have risen according to BLS
Outbound Tender Volume Index, a measure of national freight demand that tracks shippers’ requests for trucking capacity, is 0.57% lower week over week as volume levels retreat from the recent high (similar to trends seen in previous years such as 2023 and 2022.
Contract Load Accepted Volume (CLAV) - decrease of 0.47 percent, these however are 2.1 percent higher than last year
Spot Load Posts - Decrease of 21 percent throughout July
Spot Truck Posts- Decrease of 6.7 percent throughout July
With the month of July concluded, it is important to note that the freight market industry is beginning to stabilize. Furthermore, more seasonal freight trends are becoming apparent within the market. Overall capacity is also reducing due to the shrinking sizes of freight career fleets across North America.
JULY REJECTION RATES
Dry Van: decreased by 187 bps since the beginning of July
Reefer: Index increased by 42 bps over the past week to 8.22%. Reefer rejection rates are 430 bps higher than they were this time last year.
Flatbed/Stepdeck: increase over the past week, rising 128 bps w/w to 6.52%. Even with the increase, flatbed rejection rates are 183 bps lower than they were this time last year
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