Shippers are giving longer notice for contracted truckload carriers to pick up their freight. What does this mean?
New policy could accelerate nearshoring trend.
Tender rejection rates have moved to a 2-year high, but spot rates have yet to see the significant increase from the holidays.
Import demand has increased over the past two years as companies have largely corrected inventories and navigated treacherous waters in the maritime industry.
Tender rejection rates have surged to 8.36%, marking the highest point since June 2022 and a massive one-week surge of 190 basis points.
Zach Jecklin of Echo Global Logistics discusses the importance of providing good service through difficult freight markets, Echo’s strategy to leverage AI and how technology can help maintain relationships without eliminating human oversight.
SONAR’s latest release introduces a game-changing feature: the National Insights Landing page. This powerful tool provides a comprehensive overview of the freight market, highlighting shifts in capacity, demand and fuel prices. The intuitive interface spotlights weekly top-moving markets, allowing users to quickly identify trends and opportunities.
Tender rejection rate rises as holidays approach The tender rejection rate has risen steadily since early October despite tender volume declining. That implies that capacity is leaving the market, which is leading to a tighter freight market. (Chart: SONAR) Both truckload spot rates and tender rejection rates are indicating that the freight market is tightening. […]
Rejection rates and spot rates are likely to see further upward movement with less than two weeks until the Christmas holiday.
There is nuance in this freight market flip. Why is this transitioning truckload market unlike any other?
The SONAR National Truckload Index (NTI) has reached levels not seen in nearly two years, surging from $2.38 per mile to $2.52. The last time truckload spot rates were this high was on Jan. 23, 2023.
With 2024 drawing to a close, team leaders at SONAR discussed during a Thursday webinar the top enhancements made to the logistics data platform.
In a significant advancement for the freight brokerage industry, SONAR, the leading provider of high-frequency freight market data, has unveiled the Coverage Guide, an AI-powered offering within its new Broker Tool Kit. This cutting-edge application aims to simplify the complex decision-making process for freight brokers, enhancing efficiency and profitability.
FreightWaves CEO expects rates to increase 4%+ in 2025.
During the State of Freight webinar for December, Craig Fuller and Zach Strickland discuss how a market shift could impact carriers, brokers and shippers in 2025.
The holiday impacts have yet to arrive as both tender rejection rates and spot rates are off their recent highs and volumes continue to slide.
Rising reefer tender rejection rates suggest the refrigerated truckload market is facing a tighter transportation procurement environment.
SONAR shows carriers turning down more than 20% of outbound Ontario loads.
SONAR data will power Transfix’s predictive rating models for freight brokers.
It’s that time of year – retail news abounds on FreightWaves and elsewhere I thought Target’s management team put it well last week as it now describes consumers as “resourceful,” meaning they are still shopping but are looking for value and waiting for deals, rather than “resilient,” the term it used previously. Along similar lines, […]
