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Volumes are weak (+0.6% year-over-year) and may underperform in March. Spot rates are sliding, but the outlook is uncertain as newly de-rated contract prices come into play. If shippers were too aggressive in contract negotiations and volumes do mount a recovery, spot markets could re-ignite.
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John Paul conducts research on multimodal freight markets and holds a Ph.D. in English literature from the University of Michigan. Prior to building a research team at FreightWaves, JP spent two years on the editorial side covering trucking markets, freight brokerage, and M&A.