Freight Market Sees Surge in Rates Amid Tightening Supply

The North American freight market has officially turned the corner after more than three years of subdued rates following the COVID-era boom. Carriers have exited the market in droves, regulatory headwinds have further crimped capacity, and freight volumes are once again climbing. This result is a rapidly tightening environment where spot and contract rates are surging and shippers are being forced to rethink budgets that were built for last year's softer conditions.

The traditional freight-market cycle is reasserting itself, with demand recovering while reduced capacity is driving a more reactive and volatile market,