Inside SONAR

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.