Reefer tender rejections persist at 20-20.5% due to seasonal demand and limited intermodal substitution, while intermodal contract savings hit 33% over OTR.

Reefer tender rejections are holding at 20-20.5%, a figure sustained by summer temperatures and the inability to convert refrigerated loads to intermodal. Conversely, dry freight is shifting to rail at record rates, driven by a 33% cost savings index for intermodal over truckload, which is the highest in three years. This cost arbitrage is pulling significant volume from van and flatbed, but reefer remains inelastic due to specialized equipment and continuous power requirements.