Over the past week, Denver’s outbound tender rejection rates surged 521 basis points, from 1.91% on Nov. 10 to 7.12%.
During that same period, outbound tender volumes jumped 7.77%. Compared with last month, Denver outbound tender volumes are 7.96% higher.
The rapid rise in spot rates and tender volumes led to an increase in dry van spot rates, with 9% of all Denver outbound lanes reporting an above-average rate increase, according to SONAR TRAC spot market conditions.
Part of the volatility stems from Denver’s location, with truckload capacity needing to shift in advance to cover any rapid increases in volumes. According to SONAR Key Market Insights, the Denver market is skewing slightly more toward outbound freight than inbound. Among 135 key market areas, Denver ranks 30th in outbound volumes and 28th in inbound volumes.
