We are regularly enhancing and improving SONAR to meet the needs of the ever-changing freight market and the needs of our customers. To help keep SONAR users informed, we deliver a brief recap of newly released data sets, market indices, and product feature improvements in our What’s New in SONAR series.
FreightWaves continues to add depth to its air cargo data with new rate data by lane from industry standard Drewry’s. The popular tender lead time index is also getting additional granularities along with a slight rework to make it more representative of shipping behavior.
Drewry is an established industry name for major market ocean and air rate index information. FreightWaves will add 65 city-pairs with air freight rate trends in global markets from Drewry’s Air Freight rate data (DAIR). The rate index is based on 1 metric ton (1,000 kg) general cargo contract rates and is updated monthly. This will allow subscribers to monitor air cargo pricing movements in key markets against other SONAR indices and market trends.
The SONAR ticker name is DAIR, and city-pair granularities are available using the airport codes for origin and destination. Example:
DAIR.ORGDST — ORG = origin airport city code; DST = destination airport city code
DAIR.JFKFRA – New York JFK to Frankfurt
DAIR.LAXSIN – Los Angeles to Singapore
Adding Drewry data significantly enhances FreightWaves’ air cargo rate coverage, as FreightWaves will continue to maintain its TAC data for air cargo that cover seven major air shipping markets (SONAR Tickers: AIRUSD, AIREUR, AIRLOC).
Tender lead time (TLT) is the time in days between tender submission and requested pickup date. When this value increases or decreases, it is an indication of a change in shipper expectations and may signal anticipated capacity changes. This index has now been greatly expanded to be more in line with other tender volume indices.
The TLT index will now include both inbound (ITLT) and outbound (OTLT) organizations along with all the length of haul and equipment type granularities where volumes permit statistical relevance. Now SONAR users will be able to see shipper behavior when submitting requests for dry van (VOTLT) and temperature controlled (ROTLT) loads along with variations in length of haul lead time submissions. These indices will be offered at the national, state, and market level.
SONAR is the world’s fastest and most comprehensive freight market data and analytics platform. These are just a few of the hundreds of unique data sets available to SONAR subscribers. Not a SONAR user yet? Sign up for a free test drive here.