Dry Van and Reefer Markets Flash Mixed Signals as Capacity Constraints Persist

## Dry Van & Reefer Markets: Reading the Signals The North American trucking and intermodal freight markets are sending conflicting signals, with dry van tender rejection rates trending lower yet still pointing to underlying capacity tightness, according to analysis published by FreightWaves. Despite the downward trend in rejection rates — a key barometer of available carrier capacity — the data suggests the market has not loosened as significantly as headline figures might imply. Carriers continue to face a challenging operating environment in which cost pressures, including fuel, labour, and equipment expenses, are outpacing revenue growth, creating financial strain across the sector. ### Capacity Expansion Stalls According to FreightWaves' SONAR platform data, capacity is not expanding at a pace that would meaningfully shift market dynamics in shippers' favour. This is a notable development given the broader expectation that softer freight demand would draw new capacity into the market or encourage existing carriers to redeploy assets. Regional rate maps highlighted in the analysis reveal pockets of elevated pricing pressure, particularly in lanes where reefer demand remains firm — a reflection of ongoing agricultural and perishable goods movements. Intermodal volumes, meanwhile, are providing an additional lens through which to assess the health of the broader freight ecosystem, with rail-truck competition remaining a factor in shipper routing decisions. ### Why It Matters for Maritime Stakeholders For maritime industry professionals, landside freight conditions are a critical component of port efficiency and cargo velocity. Persistent capacity constraints in the drayage and over-the-road trucking sectors can translate directly into congestion at port gates, extended container dwell times, and disruption to just-in-time supply chains. Shippers moving containerised cargo through major North American gateways should monitor these inland freight dynamics closely, as tightening truck capacity can compound existing port-side challenges and affect overall supply chain reliability. FreightWaves notes that the interplay between intermodal volumes and over-the-road rates will be a key indicator to watch in the coming weeks as seasonal freight patterns begin to assert themselves. *Source: FreightWaves*