Railroads have taken numerous steps, including reopening shuttered intermodal facilities to improve network fluidity. Intermodal networks have been dealing with congestion, leading to increased pressure on the truckload market. Daily domestic intermodal volumes, which are competitive with long haul truckload moves, increased by 8.5% in October and have since risen by 2.4% in November. Conversely, domestic intermodal volumes have moved contrary to seasonality. Tender volumes as a whole have been underwhelming during the fourth quarter, which was expected to be quite strong. Freight volumes traditionally slide off the peak during December. What comes next is what will be interesting. Even with the increase over the past week, tender volumes have still slid by over 1% during the past month. Tender volumes outside of the past week have largely been in a decline since the Labor Day holiday. The increase in tender volumes levels is a traditional move, as shippers tend to put out more tenders, at the risk of more being rejected, during the holiday week. To learn more about FreightWaves SONAR, click here. Tender volumes pick up ahead of Thanksgiving: The Outbound Tender Volume Index (OTVI), which measures shippers’ requests for capacity, increased by 2.51% week-over-week (w/w), the largest single-week increase since the middle of September. True to seasonal form, tender volumes are ramping up ahead of the Thanksgiving holiday on Thursday.
The Forum at FreightWaves LIVE (Fall 2019).Evolve: The Next Evolution of Oil & Gas.Podcasts: FreightWaves FreightCasts Network.Loaded & Rolling (Enterprise Fleet News/Analysis).
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