SONAR Sightings for Aug. 9: Jacksonville, Florida, shows signs of recovering to its headhaul nature

The highlights from Tuesday’s SONAR reports are below. For more information on SONAR — the fastest freight-forecasting platform in the industry — or to request a demo, click here. Also, be sure to check out the latest SONAR update, TRAC — the freshest spot rate data in the industry.

Market watch

Jacksonville, Florida

Jacksonville tender volumes are rising and crashing like the waves of its beaches so far in August. Since the start of the month, outbound tender volumes are up 10% but have started a downward trend in the last couple of days. Inbound volumes, on the other hand, are down 8% since the start of the month and are following an even steeper downward trajectory.

Inbound volumes may have exceeded outbound volumes from February through April of this year, but overall since 2018, Jacksonville is a headhaul market. The recent increase in outbound volumes has launched its Headhaul Index to a 335% rise this month to plus-31.3 — its highest level since this time last year.

However, there appears to be plenty of truckload capacity to handle the recent increase in outbound volumes, evident by the fact that rejection rates have trickled downward while volumes are rising. Since July 24, rejections have dropped 360 basis points to 8.4%.

Salt Lake City

In the wild west, outbound volumes have declined 11% since Aug. 2, while inbound volumes have remained consistent so far this month, plateauing like the landscape that surrounds the market at 130.1 on the Inbound Tender Volume Index.