The July 2026 State of the Industry Report from FreightWaves, presented in affiliation with Ryder, shows spot rates, rejection rates, and volumes all reached new annual highs, signaling strong seasonal demand and constrained capacity. Ongoing barriers to entry and limited fleet expansion are keeping capacity tight and remain the primary driver of rising rates. Spot rates are significantly outpacing contract rates, with the widening spread creating upward pressure on contract pricing and increasing routing guide disruption. Tariff uncertainty is pulling forward ocean shipments, driving an early peak and increased freight volumes across modes. Strong volume growth and lower fuel exposure continue to make intermodal an attractive option versus truckload. Elevated CPI of about 4.2% and PPI of about 6.5% indicate continued upward pressure on transportation and supply chain costs, while manufacturing expansion and data center construction support freight demand, though housing and consumer sentiment remain weak.
Ryder System IncStrong seasonal demand and tight capacity drive higher spot rates and volumes, benefiting Ryder's logistics and transportation services.