Reefer Shippers Beware: Capacity Shifting To Dedicated And Carriers Practicing Stricter Freight Selection This article was originally published in The Stockout newsletter on February 3, 2021. To sign up for The Stockout newsletter, click here . We recommend that CPG companies, and others that ship refrigerated goods, pay close attention to Marten Transport's (NASDAQ: MRTN ) results each quarter. Marten, which reported its fourth quarter last week, is listed seventh on the Transport Topics list of top refrigerated carriers and is the only "refrigerated pure play" among the publicly traded carriers (Swift Refrigerated is fourth on the list, but its results are buried in the 18,000-tractor Knight-Swift trucking segment). So, Marten's results can give CPG companies a unique insight into how refrigerated carriers are performing without the impact of dry goods getting in the way. Marten reported record results and it did so more with freight selection than pure price. In a carriers' market, amid elevated refrigerated tender rejection rates and spot rates, a natural place to start to look for insights on reefer pricing is Marten's revenue per loaded mile, excluding fuel surcharges.