Inside SONAR

Dozens of household names are already using this new way to book trucking capacity in a way that reflects the larger market.

SONAR’s Container Atlas shows new booking volumes plummeting over 35% from their Aug. 1 peak, a key indicator that U.S. import demand is rapidly deteriorating. (Photo: Jim Allen/FreightWaves)

Ocean carriers are steadily losing pricing power on the trans-Pacific as China to U.S. demand peaks for the second half of 2023.

U.S. import demand is likely peaking and could soon begin a steady decline toward a “new” bottom in the back half of 2023.

Softening demand in an excess of vessel capacity is putting tremendous downwards pressure on ocean container spot rates.

FreightWaves SONAR has launched the Index-Linked Contracts solution to help shippers and carriers get consistent service and volumes.

Users of Container Atlas can streamline their global supply chains with cutting-edge ocean freight analytics.

Redwood Logistics and FreightWaves have partnered to unlock the SONAR freight market intelligence platform for OTM users.

An unprecedented level of caution among importers likely to cause further declines in import volumes.

Further downside risks to the U.S. economy are increasing the odds of a further decline in containerized import volumes.

There are encouraging signs that demand is returning to the U.S. trucking market, based on high-frequency truckload volume data from FreightWaves SONAR.

FreightWaves has announced that its TRAC spot rates have been integrated into FreightFriend, a truckload procurement platform.

Early freight data and channel checks would suggest the freight market could be stabilizing and clearer skies are ahead. 

Debate on whether we are in a freight recession has been raging since the first quarter of 2022. The conclusion is now obvious: Freight volumes have collapsed this year, dragging down spot rates with them.

Outbound demand in Harrisburg and Allentown, Pennsylvania, bottomed out at the start of the month and are starting to slowly rise. Dallas and Fort Worth, Texas, both are seeing rejection rates drop to a two-year low.

Atlanta still owns the most market share by outbound volume but saw a drop in its value as demand falls further. Imports to the Port of New York and New Jersey fell to their lowest levels since 2021, bringing surface transportation volumes down with them.

Contracted tender volumes in Ontario, California, remain at their lowest levels since 2020, and markets in Illinois are struggling to recover from drops this month.

Markets along the East Coast in the path of Tropical Depression Nicole are seeing relatively normal fluctuations in rejections in volume compared to previous severe storms.

Dry van volume dropped significantly this month leading into the holidays, but reefer demand remains strong. Diesel price per gallon grows slowly, but the spread between wholesale and retail prices rises.

Markets across the board have been seeing drops in both inbound and outbound volume since the start of the month.

Outbound volumes from Atlanta are picking back up after hitting their lowest levels since 2020, and imports to the Port of New York and New Jersey drop, dragging truckload volumes with them.

FreightWaves unveiled two new features in SONAR at the F3 event, and container spot rates from China dropped further.

Forum Mobility, a startup in California, is focusing on zero-emission transportation by creating more charging stations and offering EV trucking-as-a-service.

Truckload volumes in Elizabeth, New Jersey, are still rising after a boost in imports last week, but that will likely change in the days ahead. Detroit’s volume boom went bust, bringing reactions to their lowest on record since 2018.

Charlotte, North Carolina, is seeing a slow recovery after volumes dropped to their lowest levels since February of 2021, and reefer volume in Milwaukee is up more than 22% this week.

Outbound demand in Denver is swinging up after falling to a two-year low earlier this month, and Salt Lake City has shown consistent headhaul market activity since Labor Day.

Outbound demand in Fort Worth, Texas, is up for the second week in a row, and diesel prices have stopped increasing but show no sign of which direction they will go next.

Ontario, California, outbound volumes have been trending up the last two weeks, while volumes in Joliet, Illinois, started to recover but have flatlined.

Overall outbound volume levels out of Milwaukee are down this month, with the majority of the drop coming from reefer demand. Atlanta’s outbound volumes have trickled down this month, bringing down its market share.

Imported container volumes to the Port of New York and New Jersey are up this week after a 27% decline, and outbound volumes in Detroit remain high but aren’t gaining any more ground.

Dallas lost more market share by outbound volume this week as volumes continue to decline, and spot rates from China to the East and West coasts of the US dropped after a week of little to no change.

Volumes out of Seattle are trending up this week after reaching a two-year low, and diesel prices are up more than 30 cents since the start of the month.

An overview of Day 1 of F3: Future of Freight Festival.

Imports to the Port of Houston saw an increase in the first week of October, bringing up truckload volumes. Fall produce in Spokane, Washington, builds demand.

Imported container volumes to LA are up this week after taking a drop in the beginning of Q4, allowing the surface transportation market to start to recover leading into peak season.

Demand peaked over the summer in Detroit, but volumes are taking a sharp drop this month; and Nashville sees a major upswing in Q4.

Reefer volumes in Illinois remained elevated throughout most of October 2021. Although they were up leading into October this year, reefer volumes have since dropped significantly.

After a monthlong decline in volumes from Southern California, they begin to tick upward this week, and spot rates from Rotterdam to New York rise 8.4%.

FreightWaves and Revenova announce a partnership that will benefit mutual customers.

The Lakeland and Jacksonville markets are both recovering from Ian, but tender rejections remain relatively high. Retail diesel prices are swinging back up, collapsing the spread between retail and wholesale.

After reaching a six-month high in outbound demand, volume in Chicago is on a steady downward stream, and both major markets in Pennsylvania are also experiencing declines.

Dallas, Cincinnati and Denver are all experiencing upward trends after outbound volume lows.

As Southern California is the heartbeat of outbound truckload volume, the significant decrease in freight coming out of the region reflects in national freight volumes; maritime booking volume from all ports in SONAR Container Atlas are down 20% from this time last year.

FreightWaves and Hubtek are partnering to offer SONAR data in Hubtek’s TABi Connect.

The reefer market in Milwaukee is the primary driver behind its demand, and in the last year volumes are down 59%. Ocean spot rates from China to both U.S. coasts drop even further as the fourth quarter starts.

Atlanta is seeing consistent levels of outbound volume, retaining the majority market share with 4.1%. Diesel prices are decreasing at a faster rate than they increased over the summer.

The port of Savannah imported more than 200,000 TEUs in September, and truckload volumes in Denver plunged to a two-year low.

Reefer volumes in Fresno, California, continue a decline as September closes, while both inbound and outbound volumes in Memphis, Tennessee, are consistently trending upward.

Atlanta is seeing a sharp rise in outbound volume, and markets in Florida, southern Georgia and Alabama increase inbound volume in preparation for the hurricane.

Truckload volumes in Ontario, California, decline as the ports hit their lowest market share in decades, and Port Houston sees a drop in imports.

Outbound volumes from Detroit are back to their highest levels on record since 2018, and the spread in intermodal rates between Atlanta and LA is its lowest since 2021.

Imports to the Port of New York and New Jersey are down this week, causing the Elizabeth, New Jersey, truckload market to soften. Shipments worldwide are down more than 33% since July 1.

FreightWaves founder and CEO Craig Fuller outlines how FreightWaves SONAR pointed to the global freight recession months ago.

Headhaul markets historically begin to send out more volume in preparation for the holiday peak, but 2022 continues to show different trends.

Rejection rates in El Paso swung upward in response to an increase in outbound volume, and the Department of Energy clocks diesel prices below $5 per gallon for the first time since April.

Reefer volumes spike in Illinois, the port of Houston sees a record number of TEUs in August, and exports from China continue to slide worldwide.

Outbound tender volumes are down in the last couple of days to their lowest levels since the start of the summer, and the record breaking levels in Detroit are over — for now.

Outbound volume in Harrisburg, Pennsylvania, is booming, raising its market share to 3%. Flatbed market experiences a significant decrease in rejections.

Ontario, California, makes a full recovery of outbound volume, and the spread between rates to import to the East and West coasts increases.

FreightWaves has partnered with MerQube to bring the first index to track the performance of the supply chain and logistics industry. National outbound volume levels out while rejection rates continue their decline.

SONAR data for Sept. 12 shows reefer volumes in Memphis are heating up, while the larger reefer market of Milwaukee is seeing a decrease.

Phoenix and Denver are both seeing an uptick in outbound volumes days after the holiday drop, and capacity in Elizabeth, New Jersey, handles the increased port volume.

Containerized imports to Savannah were increasing before the holiday, and rejection rates out of Dallas fell 100 basis points since Monday.

Nashville, Tennessee’s, rejection rates have crashed to their lowest values since April 2020, putting downward pressure on spot rates, but in Kansas City, Missouri, rejections and rates are both rising.

The rate at which carriers are rejecting freight out of LA is pushing spot market rates upward, while the opposite is happening in Detroit.

At the start of September, outbound volumes in Indianapolis dropped 4.5% overnight. Meanwhile, in Greenville, South Carolina, they increased 14.5% overnight.

Salt Lake City is seeing increased outbound volume to start September, while Denver continues to experience a decline.

Outbound volumes from New Orleans are rising sharply at the end of the month while they plunge in San Antonio.

Dwell times in the Port of Los Angeles dropped below four days, and outbound volumes are up in Savannah, Georgia, due to more imports being sent to the East Coast.

Outbound volumes in Allentown continue to rise at the start of the week, and Detroit levels are nearing a record since 2018.

Outbound volumes in Ontario are up after a 12.3% drop earlier this month but decline in the formerly greener pastures of South Carolina.

Imported twenty-foot equivalent units cleared through customs to the Port of New York and New Jersey fell last week, and truckload volumes in St. Louis are climbing this week.

Outbound volumes are their highest on record in Las Vegas, but Austin, Texas, sees an even larger increase.

Reefer volumes in Northern California start to fall, and Bowling Green, Kentucky, shows signs of a headhaul market.

Volumes out of Dallas fall while rejections rise; Indianapolis sees respectable increases in both.

The discrepancy between inbound and outbound volumes in Louisville, Kentucky, is the greatest it has been on record. Philadelphia continues to see an increase in the Headhaul Index.

Outbound tender volumes are driving down the Headhaul Index in Baltimore, while volumes in Detroit continue to soar.

The Headhaul Index in Denver dropped to its lowest score since June, and both inbound and outbound volumes in New Orleans remain undecided on which direction to take.

The freight market in Lexington, Kentucky, continues to heat up, as Jacksonville, Florida, cools down.

Outbound tender rejection rates in Memphis fell hard to the lowest value since April 2020, while outbound volumes in Philadelphia continue to rise.

Outbound volume from northern California has jumped in August, and rejection rates have soared in Baltimore from increased volumes and protests at the port.

Detroit sees at least a 20% decrease in both inbound and outbound volumes, and imports to the Northeast are slow to transition to the truckload market.

Philadelphia is a backhaul market that has switched to a headhaul market so far this year, and outbound volumes in Louisville, Kentucky, have reached their highest point since SONAR began tracking the market in 2018.

Jacksonville shows steady signs of its headhaul nature after backhaul activity earlier this year. Outbound volumes in Salt Lake City have decreased 11% in August.

A traditionally strong backhaul market, San Antonio experiences headhaul market activity for the first time, and the amount of imports diverted to Gulf ports is being felt in the truckload market.

Outbound volumes from Ontario, California, continue to dive, while smaller markets such as Greenville, South Carolina, show signs of increase.

Outbound volumes in Detroit explode as both inbound and outbound tenders heat up the market in Boston.

The Port of New York and New Jersey is seeing an increased amount of imports, but they are not hitting the truckload market.

Headhaul markets such as Chicago continue to see a decrease in outbound volume, while backhaul markets like New Orleans experience growth.

Outbound reefer tender volumes for San Francisco have risen 54% in the past two months, while outbound volume for Phoenix has risen 20% in two weeks.

Backhaul markets are seeing more outbound volume, while traditional headhaul markets are beginning to see more inbound volume.

Markets in the Southeast, North and Midwest are experiencing an increase in outbound volume that some haven’t seen in almost a year.

Pittsburgh is experiencing a rise in both outbound and inbound tender volumes simultaneously.

Seattle, a traditional backhaul market, is now experiencing headhaul market activity.

Outbound volumes are rising in Joliet but rejections are decreasing, pointing to a higher acceptance rate of contract loads.

Indianapolis’ outbound volume caused the Headhaul Index to increase 36.1% week over week, and outbound loads within 100 miles of the San Francisco market are being rejected as a result of protests.

Outbound tender volumes for Dallas begin to trend upward, and LA is beginning to see more lanes than usual under 250 miles.

FreightWaves announces a new Chief Revenue Officer and its Q2 earnings.

Outbound volumes for Philadelphia have increased while inbound loads decrease, which is not typical for this traditionally backhaul market.

Outbound reefer volumes for Milwaukee trend upward during the summer months more than others.