Spot rates, tender rejection rates, and freight volumes across trucking, maritime, and intermodal networks all reached new annual highs heading into the second half of 2026, according to a State of the Industry report compiled by FreightWaves in affiliation with Ryder.
The report attributes the tightening market largely to ongoing barriers to entry and limited fleet expansion, which continue to constrain available truckload capacity and push rates upward. Spot rates are significantly outpacing contract rates, a widening spread that is disrupting standard routing guides and creating upward pressure on contract pricing as shippers compete for available capacity.
Tariff-related uncertainty has also pulled forward ocean shipment volumes, contributing to an earlier-than-usual peak season and increased freight volumes across trucking, rail, and maritime modes simultaneously. Intermodal has emerged as a comparatively attractive option against traditional truckload service, the report notes, citing strong volume growth and lower fuel-cost exposure for rail-based freight movement.
Broader economic indicators point to continued cost pressure across the supply chain. The report cites a Consumer Price Index reading of roughly 4.2% and a Producer Price Index near 6.5%, both signaling sustained inflationary pressure on transportation and logistics costs. Manufacturing expansion and data center construction activity are helping support freight demand even as housing activity and consumer sentiment remain comparatively weak.
Source: FreightWaves – https://www.freightwaves.com/news/white-paper-state-of-the-industry-july-2026