{"id":945,"date":"2023-07-31T07:27:29","date_gmt":"2023-07-31T07:27:29","guid":{"rendered":"https:\/\/ladingcargo.com\/blog\/?p=945"},"modified":"2024-10-18T12:25:56","modified_gmt":"2024-10-18T12:25:56","slug":"rising-demand-boosts-optimism-in-transportation","status":"publish","type":"post","link":"https:\/\/ladingcargo.com\/blog\/rising-demand-boosts-optimism-in-transportation\/","title":{"rendered":"Rising Demand Boosts Optimism in Transportation"},"content":{"rendered":"

The number of truckload tenders is suddenly rising. This may indicate improvement in the domestic transportation industry.<\/span><\/p>\n

The national Outbound Tender Volume Index (OTVI) indicates a nearly 7% increase in electronic bids from shippers to carriers for truckload capacity compared to last month. It’s different than usual. There was a sudden rise in 2020 due to a global outbreak.<\/span><\/p>\n

The number of tenders typically increases from mid-May to the end of June and then decreases in July. The number of tenders decreased by 7% in July 2018. However, in July of this year, it only decreased by 2-5%.<\/span><\/p>\n

Demand dropped sharply last year. The main story in the trucking business is that there is too much capacity. The number of tenders dropped by almost 17% from March 1 to April 30, 2022. Demand stayed the same during the summer. In the second half of the year, it dropped by another 16%.\u00a0<\/span><\/p>\n

The OTVI hit bottom at 9,940 in February 2023. It has followed a normal path. It went up by 8% by the end of June. 2018 and 2019 saw increases before the outbreak.<\/span><\/p>\n

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