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Market Update 3.12.26

Weather Updates:

  • A late-winter storm is driving blizzard conditions and powerful winds across the Northwest and northern Rockies, with winter alerts stretching through Montana into neighboring states. Farther south and east, scattered severe storms may still produce isolated tornadoes and damaging winds in the central U.S. today, but the overall risk eases tomorrow.
  • Freeze protection services are currently active in Alaska, Canada and northern ND, MN and WI. For shipments containing freezable freight, ensure that freeze protection service is added. Please note that this service brings additional charges and may result in transit delays.

Small Parcel Updates:

  • ‌USPS Upgrades: USPS opened a new sorting and delivery center in Flint, Michigan, on March 11, with upgraded automation and next-generation delivery vehicles.

LTL Updates:

  • ‌Biding Time: LTL demand remains soft, with volumes holding roughly flat through early 2026 and only a modest pickup expected later this year. Carriers are protecting yield with firm pricing and targeted GRIs while continuing to invest in terminals, equipment, and technology to capture market share as it becomes available.
  • Diesel Rates: National diesel prices increased, up $0.962 from last week, averaging $4.859 per gallon, $1.277 higher than the same time last year, and $0.855 higher than two years ago. The California region saw the largest increase, up $1.106 to $6.096 per gallon.

TL Updates:

  • Market Activity: Spot load posts were down 2.0% from last week, and spot truck posts increased 0.4%. The Load-to-Truck Ratio (LTR) was up for flatbeds and down for vans and reefers.
  • Outbound Tender Rejection Index (OTRI): The OTRI pushed higher this week to 14.95 from 13.80, underscoring tightening truckload capacity as carriers reject more contract freight in favor of better-paying spot loads. The move is being led by rising flatbed and modestly higher dry van rejections, while reefer rejections eased slightly but remain elevated enough to keep overall rejection levels and late‑winter market firmness intact across key equipment types.
  • Dry Van: National van demand decreased by 7.1% to a 8.10-1 LTR nationally, with the highest demand spread across the United States, other than CA and IL, exceeding 5.5+ to 1 LTR. The spot rate per mile (RPM) for dry vans is down $0.01 from February, averaging $2.40 nationally, with the Midwest holding the highest RPM at $2.80. The VOTRI increased by nearly 1 full point, currently sitting at 14.25, compared to last week’s value of 13.42.
  • Flatbed: National flatbed demand increased by 0.6% to 68.87-1 LTR, with the highest demand spread across the United States, other than RI at over 18+ to 1 LTR. The flatbed spot RPM is up $0.14 from February, averaging $2.86 nationally, with the Midwest region holding the highest RPM at $3.08. The FOTRI felt another jolt of momentum, increasing to 49.89, compared to last week’s value of 43.40. The FOTRI is currently at its highest level in over 5 years, exceeding any point reached during the Covid era.
  • ‌Reefer: National reefer demand decreased by 5.8% to a 14.40-1 LTR nationally, with the highest demand spread across the United States, other than CA, CT, MA, MD, NC, NH, and RI at over 12+ to 1 LTR. The spot RPM for reefers is down $0.08 from February, averaging $2.80 nationally, with the highest rates in the Midwest at $3.37. The ROTRI continues to show the only market decreases, dropping to 19.80 from last week’s 20.34 figure. ‌

International Updates:

  • ‌FBX Trends: Container rates showed mixed movement week‑over‑week. The global average cost of an FBX container fell 15.0% to $1,637. The FBX01 average rose 10% to $2,022 while the FBX03 average declined 9% to $2,748.
  • ‌Port of Los Angeles: Vessels are currently averaging 4.1 days at berth. The port reported a 10.95% YOY volume increase from 16 scheduled vessels during the week of March 8, 2026. For the week of March 15, container volumes are projected to decrease 28.30% YOY, with 16 scheduled vessels moving a projected 69,444 TEUs.

Embargoes:

There are no embargoes currently impacting our freight network.