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.
FreightWaves new spot rate forecast supports a slow start to trucking’s peak season.
Anthony Smith and Zach Strickland talk inflation and outsourcing in this special live session at FreightWaves’ F3: Future of Freight Festival.
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Truckload contract rates have slowed their descent after a quick drop in August. What should we make of this as demand continues to ease?
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.
Since the pandemic started, many shippers found their existing contracts unable to ensure carrier compliance. Supply and demand were especially volatile, and so spot rates, which are more sensitive to changing market conditions, handily outpaced contract rates.
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.
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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.
FreightWaves founder and CEO Craig Fuller provides insight into 2022’s peak season.
Declining contract volumes may bring large carriers into the spot market, forcing spot rates into negative margin territory if they are not already there.
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.
FreightWaves and ZUUM are partnering to make SONAR data available to mutual customers.
