The November State of Freight webinar took place against a continuation of a market that is showing only the slightest signs of a turnaround.
Five takeaways from September’s State of Freight webinar.
The Convoy saga has taken another turn as venture-backed freight forwarder Flexport announced Wednesday that it has acquired Convoy’s technology stack for an undisclosed sum. This comes after Convoy, which was valued at $3.8 billion from its final funding round 18 months ago, shuttered operations on Oct. 19.
Outbound demand in Harrisburg and Allentown, Pennsylvania, bottomed out at the start of the month and are starting to slowly rise. Dallas and Fort Worth, Texas, both are seeing rejection rates drop to a two-year low.
Atlanta still owns the most market share by outbound volume but saw a drop in its value as demand falls further. Imports to the Port of New York and New Jersey fell to their lowest levels since 2021, bringing surface transportation volumes down with them.
Contracted tender volumes in Ontario, California, remain at their lowest levels since 2020, and markets in Illinois are struggling to recover from drops this month.
Markets along the East Coast in the path of Tropical Depression Nicole are seeing relatively normal fluctuations in rejections in volume compared to previous severe storms.
Dry van volume dropped significantly this month leading into the holidays, but reefer demand remains strong. Diesel price per gallon grows slowly, but the spread between wholesale and retail prices rises.
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.
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.
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.
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.
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.
Volumes out of Seattle are trending up this week after reaching a two-year low, and diesel prices are up more than 30 cents since the start of the month.
Imports to the Port of Houston saw an increase in the first week of October, bringing up truckload volumes. Fall produce in Spokane, Washington, builds demand.
Imported container volumes to LA are up this week after taking a drop in the beginning of Q4, allowing the surface transportation market to start to recover leading into peak season.
Demand peaked over the summer in Detroit, but volumes are taking a sharp drop this month; and Nashville sees a major upswing in Q4.
Reefer volumes in Illinois remained elevated throughout most of October 2021. Although they were up leading into October this year, reefer volumes have since dropped significantly.
After a monthlong decline in volumes from Southern California, they begin to tick upward this week, and spot rates from Rotterdam to New York rise 8.4%.
The Lakeland and Jacksonville markets are both recovering from Ian, but tender rejections remain relatively high. Retail diesel prices are swinging back up, collapsing the spread between retail and wholesale.
After reaching a six-month high in outbound demand, volume in Chicago is on a steady downward stream, and both major markets in Pennsylvania are also experiencing declines.
Dallas, Cincinnati and Denver are all experiencing upward trends after outbound volume lows.
Atlanta is seeing consistent levels of outbound volume, retaining the majority market share with 4.1%. Diesel prices are decreasing at a faster rate than they increased over the summer.
The port of Savannah imported more than 200,000 TEUs in September, and truckload volumes in Denver plunged to a two-year low.
Reefer volumes in Fresno, California, continue a decline as September closes, while both inbound and outbound volumes in Memphis, Tennessee, are consistently trending upward.
Atlanta is seeing a sharp rise in outbound volume, and markets in Florida, southern Georgia and Alabama increase inbound volume in preparation for the hurricane.
Truckload volumes in Ontario, California, decline as the ports hit their lowest market share in decades, and Port Houston sees a drop in imports.
Outbound volumes from Detroit are back to their highest levels on record since 2018, and the spread in intermodal rates between Atlanta and LA is its lowest since 2021.
Imports to the Port of New York and New Jersey are down this week, causing the Elizabeth, New Jersey, truckload market to soften. Shipments worldwide are down more than 33% since July 1.
Headhaul markets historically begin to send out more volume in preparation for the holiday peak, but 2022 continues to show different trends.
Rejection rates in El Paso swung upward in response to an increase in outbound volume, and the Department of Energy clocks diesel prices below $5 per gallon for the first time since April.
Outbound tender volumes are down in the last couple of days to their lowest levels since the start of the summer, and the record breaking levels in Detroit are over — for now.
Outbound volume in Harrisburg, Pennsylvania, is booming, raising its market share to 3%. Flatbed market experiences a significant decrease in rejections.
Ontario, California, makes a full recovery of outbound volume, and the spread between rates to import to the East and West coasts increases.
FreightWaves has partnered with MerQube to bring the first index to track the performance of the supply chain and logistics industry. National outbound volume levels out while rejection rates continue their decline.
Phoenix and Denver are both seeing an uptick in outbound volumes days after the holiday drop, and capacity in Elizabeth, New Jersey, handles the increased port volume.
At the start of September, outbound volumes in Indianapolis dropped 4.5% overnight. Meanwhile, in Greenville, South Carolina, they increased 14.5% overnight.
Salt Lake City is seeing increased outbound volume to start September, while Denver continues to experience a decline.
Outbound volumes from New Orleans are rising sharply at the end of the month while they plunge in San Antonio.
Imported twenty-foot equivalent units cleared through customs to the Port of New York and New Jersey fell last week, and truckload volumes in St. Louis are climbing this week.
The discrepancy between inbound and outbound volumes in Louisville, Kentucky, is the greatest it has been on record. Philadelphia continues to see an increase in the Headhaul Index.
The freight market in Lexington, Kentucky, continues to heat up, as Jacksonville, Florida, cools down.
Outbound volume from northern California has jumped in August, and rejection rates have soared in Baltimore from increased volumes and protests at the port.
The Port of New York and New Jersey is seeing an increased amount of imports, but they are not hitting the truckload market.
Pittsburgh is experiencing a rise in both outbound and inbound tender volumes simultaneously.
Outbound tender volumes for Charlotte, North Carolina, are falling 8.1% week-over-week as Atlanta’s rises 6.8%.
Truckers will hit a late-week snowstorm heading to key Northeast freight markets (video forecast included).
Tender indices are the most relevant benchmarks of market demand and capacity. Now through Bloomberg Enterprise Access Point, FreightWaves is enabling industrial and financial market participants to access these critical data sets..
Torrential rain will continue to drench the South this week, potentially slowing down freight flows through one of the nation’s busiest markets.
Truckers will have to try to stay cool as more record-breaking triple-digit heat chokes parts of the West (forecast video included).
Truckers will have to try to keep cool as a prolonged heat wave sizzles all week across many Western freight markets (forecast video included).
After flash flooding and record rainfall in parts of the South earlier this week, truckers face the same threat Friday (with forecast video).
After flooding and historic rainfall in parts of the South earlier this week, more is possible Thursday (with forecast video).
Strong winds Friday will impact truckers heading to key freight markets in the Northeast (with forecast video).
The relationship between personal consumption and trucking demand has strengthened even further as companies struggle to maintain inventory. This suggests a very active spring and summer for transportation providers.
Wind gusts exceeding 50 mph Friday will impact truckers heading to leading freight markets in the Northeast (with forecast video).
Outbound freight volumes slowly picking up in markets slammed with record cold and snow last week (with forecast video).
In today’s edition of The Daily Dash, Old Dominion is the latest LTL carrier to announce a rate increase. Plus, SONAR data shows a freight market moving sideways, and Forward Air reaffirms its direction in spite of activist shareholder pressure.
Truckers will face a rough winter storm Thursday from Nebraska to Michigan (with forecast video).
In today’s edition of The Daily Dash, TFI International has acquired another carrier. Plus, the CDC says most truck drivers don’t have to wear masks, and flatbed operator Daseke is looking for acquisition targets.
In today’s edition of The Daily Dash, TFI International will acquire UPS Freight. Plus, the West Coast has supplanted Chicago as the king of the freight world, and outbound tender volumes keep falling.
Impending nor’easter could delay some COVID-19 vaccine shipments.
For second consecutive day, truckers will face rollover risk in Southern California.
In today’s edition of The Daily Dash, truckers hauling produce are collecting rates never-before-seen in December. Plus, construction continues on Nikola’s electric truck assembly plant and warehouse space remains red-hot.
Dicey weather could delay truckers from Denver to Chicago, including the very busy Joliet market.
Risk of rollovers going up for drivers across the Plains and Midwest.
In today’s edition of The Daily Dash, FMCSA tells Washington state it can no longer enforce state meal-and-rest break rules on truck drivers operating under HOS regulations. Plus, carriers continue to be in a strong position as peak season rolls on, and delivery robots are suddenly in hot demand.
Carriers still have time to secure loads in strong reefers markets in the path of a potential snowstorm.
Temperatures of 110 to nearly 120 degrees likely for several days.
Possible record-breaking heat coming to one of the nation’s highest-volume reefer markets.
Temperatures over 110 degrees for several days to keep reefer drivers on their toes in the Southwest.
Temperatures well above 100 degrees to scorch parts of California all week.
Volumes are on the rise again. DDC’s Chad Crotty details what carriers should be doing to keep pace with the recovery.
Tropical Depression Cristobal strengthening to tropical storm prior to U.S. landfall.
Tropical Storm Bertha could flood parts of the Southeast Wednesday into early Thursday.
Accumulating snowfall could cause minor freight flow delays in parts of the Rockies this week.
Accumulating snowfall possible across the interior Northeast Friday night and Saturday.
Storms later today could briefly slow down freight flows in Atlanta, the nation’s leading freight market.
Severe storms could slow down truckers tonight from key freight market of Dallas to near Chicago.
Severe storms, flash flooding could delay freight flows across the South next two days.
Waves of severe thunderstorms could delay freight movement this week from Texas to Georgia.
Heavy April snow, gusty winds could slow freight movement in parts of Denver, Salt Lake City markets.
Cass data plummets further, erasing any chance of second-quarter year-over-year growth in shipments and freight costs, according to report.
Potential blizzard conditions Easter weekend could delay freight flows from Rockies to Great Lakes.
Heavy rainfall next two days could delay freight flow in Southern California, including major market of Ontario.
Heavy snow, flooding rain could delay freight flows in southern California, including major market of Ontario.
Capacity remains tight out west where snowstorms could delay freight flows.
Early season snow melt, potentially excessive spring rainfall could flood Plains, Midwest again.
Snow, ice could delay long-haul truckers between Midwest and Northwest Thursday, Friday.
Snow storm could delay long-haul drivers between Midwest and Northwest freight markets.
Capacity remains tight in the Northwest freight region as heavy snow continues to fall.
Snowstorm may briefly throw off balanced Seattle market.
Capacity remains very tight in Denver freight market as snow storm approaches.
Heavy snow coming to Denver freight market could tighten capacity a bit more.
Snowstorm heading to Denver, Midwest freight market this weekend.
