State of Transportation: Monthly Freight Market Update

Updated on April 7, 2026

This State of the Industry report aims to provide a comprehensive analysis of the transportation logistics industry, shedding light on its key drivers, trends, and emerging technologies. By examining the current landscape and forecasting future developments, we seek to equip decision-makers, industry professionals, and stakeholders with valuable insights to navigate the ever-evolving logistics landscape.

With the world becoming increasingly interconnected, the transportation logistics industry faces both immense opportunities and unprecedented challenges. Globalization, e-commerce, and advancements in technology have sparked a seismic shift in consumer expectations, supply chain strategies, and sustainability concerns.

Highlights for the general freight report include:

• Diesel prices surged over $1/gallon in early March due to geopolitical conflict, increasing transportation costs and squeezing carrier margins—especially in contract freight.
• Elevated tender rejections (~14%) and rising spot rates indicate ongoing capacity constraints, with carriers favoring higher-paying spot loads.
• Freight demand is modestly higher year-over-year but not signaling a strong market breakout; underlying demand may be overstated due to high rejection rates.
• The Midwest remains significantly tighter than the West Coast, though West Coast capacity began tightening later in March.
• Domestic intermodal volumes are up (~3% YoY) due to strong service, lower costs vs. truckload, and available capacity, while international volumes are slightly down.
• Container demand remains soft, with declining import volumes and excess vessel capacity; geopolitical disruptions and tariff uncertainty are adding volatility.
• Manufacturing is showing early expansion, but rising fuel costs, softening labor conditions, and uneven consumer spending are creating broader economic uncertainty.

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