Shippers are committing most of their freight volumes to contracts but leaving large portions unused, according to research commissioned by Freightos and conducted by MIT's Angi Acocella, reported New York's Journal of Commerce.

The study found that while shippers typically allocate at least 90 per cent of forecast truckload volumes to contracts, as much as 70 per cent of that capacity goes unused. More than 70 per cent of ocean freight is also tied to contracts, though unused capacity was not quantified.

Ms Acocella said shippers underestimate the extent of unused space, often believing they waste no more than 25 per cent. She described these gaps as "ghost lanes," where contracted capacity exists but loads fail to materialise, creating costs and performance issues.

The research showed truckload shippers are using the spot market more strategically. Before Covid, about five per cent of truckload volume went directly to spot. That figure doubled to 10 per cent during the pandemic and has remained at that level, suggesting a structural shift.

She noted that despite a soft market, shippers continue to use spot loads even within routing guides. She said most prefer contracts for predictability but should adopt a broader mix of strategic spot capacity alongside long-term, short-term and index-linked contracts.

Shippers forced into the spot market from contracts are paying 9 to 35 per cent more than forecast costs, Ms Acocella added, highlighting the risks of using spot out of desperation rather than strategy.

The study surveyed 108 respondents in ocean trade and 60 in truckload. Freightos head of research Judah Levine said shippers incur wasted costs through underutilised contracts and could gain efficiency by strategically using spot lanes. He urged shippers to measure contract versus spot performance, consider index-linked contracts, and automate procurement tasks.