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Truckload capacity strain grows in August as Tender rejections surge
Posted on September 1, 2023 |
In August, FreightWaves announced a notable development as its national Outbound Tender Reject Index (OTRI) surpassed 4%, a milestone not seen since January.
The OTRI assesses the willingness of mid-sized to large truckload carriers to accept offered loads from shippers. This shift suggests a potential departure from previous softer market conditions.
While a 4% reading indicates a relatively relaxed market, OTRI values below 4.5% have historically pointed to markets with ample capacity, leading to deflationary influences on contract rates.