As we approach the holiday retail season, carriers and brokers have shifted their attention to the country’s major ports to capture upward volatility in trucking volumes.
SONAR’s signature index has a birthday; Ocean Network Express to lose $600M; oilfield service companies guide for tight margins in Q3; President Trump bails on coal industry incentives; pros and cons of blockchain in container shipping; spending 60,000 hours reverse-engineering a Tesla Model 3.
Indices are clearly signaling that the container volume coming in through the Long Beach/LA port is surging and bodes well for the holiday shopping season.
October is traditionally a slower month than the 4 preceding it in terms of volume. This year it has happened as soon as the calendar turned. This seasonal swing does not mean it will be a quiet fourth quarter for everyone.
Los Angeles volumes spiked just before Labor Day, but it doesn’t appear to be an artificial surge related to the holiday. In the next week we’ll start to see how the fall shipping season is shaping up.
SONAR’s new index shows the cost difference for Asian exporters moving goods into East Coast or West Coast ports. When combined with trucking spot prices, the Panama spread helps explain recent shifts in trade flows.
Amazon has promised to name a location this year for the so-called HQ2 project, which it claims will ultimately employ 50,000 people. Using SONAR, from a freight perspective, we’re here to help.
The rate of rejected loads coming out of LA inched upward, signaling that the July ‘mellowing’ period may be over. Container rates from China to North America’s West Coast stayed elevated for the second week in a row, and containership idle capacity is at 1%.
The summer surge of freight hit the West Coast ports and is working its way through the national network. Now it’s Dallas’ turn to blow up: its outbound tender rejection index is outperforming the national average by 60% over the past three months.
Roadcheck 2018 is now in full swing. Here at FreightWaves, we thought we’d examine the freight market data in SONAR–our SaaS platform that launched in beta on May 22nd–and see how inspections week is affecting the industry.
For months, West Coast spot rates have been softening, allowing brokers to take big margins and shippers to move freight inexpensively, with short lead times. That’s about to change.
Mudslides and a dead Pacific Northwest are contributing to high northbound rates coming out of Los Angeles, while extreme winter weather in the Northeast and freight backbuilds are keeping Chicago hot.
TomTom Telematics North America has identified the top 5 most congested cities in the United States, and the cities on the list should be no surprise to truck drivers.
Total accepted loads from LA to Seattle have dropped 60% in a week; spot rates in and out of Los Angeles are up by as much as 35% in seven days.
Teamsters union Local 848 has initiated a strike at the ports of Los Angeles and Long Beach today to protest what they say is misclassification of their employment as independent contractors.
