Early stages of recovery in the freight economy may have started. The Outbound Tender Volume Index (OTVI) shows a trend above 2018 freight volume. Rising volumes support higher spot market rates.
While 2019 freight volume trails the strong year in 2018, it seems that there is a volume growth in major markets.
According to FreighWaves, the gap between spot (buy) and contract (sell) rates is likely to close with spot rates increasing and stabilizing.
However, it is still too early to make definite predictions about this trend. To read more, visit FreightWaves.