Weekly Fuel Report: August 30, 2022
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Outbound volumes in Allentown continue to rise at the start of the week, and Detroit levels are nearing a record since 2018.
Outbound volumes in Ontario are up after a 12.3% drop earlier this month but decline in the formerly greener pastures of South Carolina.
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.
Outbound volumes are their highest on record in Las Vegas, but Austin, Texas, sees an even larger increase.
Reefer volumes in Northern California start to fall, and Bowling Green, Kentucky, shows signs of a headhaul market.
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Volumes out of Dallas fall while rejections rise; Indianapolis sees respectable increases in both.
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.
Outbound tender volumes are driving down the Headhaul Index in Baltimore, while volumes in Detroit continue to soar.
The Headhaul Index in Denver dropped to its lowest score since June, and both inbound and outbound volumes in New Orleans remain undecided on which direction to take.
The freight market in Lexington, Kentucky, continues to heat up, as Jacksonville, Florida, cools down.
The Freightos Baltic Index (FBX) is the world’s leading—and most accurate—index of market rates for 40′ containers.
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Outbound tender rejection rates in Memphis fell hard to the lowest value since April 2020, while outbound volumes in Philadelphia continue to rise.
Outbound volume from northern California has jumped in August, and rejection rates have soared in Baltimore from increased volumes and protests at the port.
Detroit sees at least a 20% decrease in both inbound and outbound volumes, and imports to the Northeast are slow to transition to the truckload market.
Philadelphia is a backhaul market that has switched to a headhaul market so far this year, and outbound volumes in Louisville, Kentucky, have reached their highest point since SONAR began tracking the market in 2018.
Jacksonville shows steady signs of its headhaul nature after backhaul activity earlier this year. Outbound volumes in Salt Lake City have decreased 11% in August.
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A traditionally strong backhaul market, San Antonio experiences headhaul market activity for the first time, and the amount of imports diverted to Gulf ports is being felt in the truckload market.
Outbound volumes from Ontario, California, continue to dive, while smaller markets such as Greenville, South Carolina, show signs of increase.
Outbound volumes in Detroit explode as both inbound and outbound tenders heat up the market in Boston.
The Port of New York and New Jersey is seeing an increased amount of imports, but they are not hitting the truckload market.
Headhaul markets such as Chicago continue to see a decrease in outbound volume, while backhaul markets like New Orleans experience growth.
“Terra is the largest transportation solutions company … that you’ve probably never heard of,” said the founder and chief operating officer of Terra Worldwide.
The Freightos Baltic Index (FBX) is the world’s leading—and most accurate—index of market rates for 40′ containers.
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Outbound reefer tender volumes for San Francisco have risen 54% in the past two months, while outbound volume for Phoenix has risen 20% in two weeks.
Backhaul markets are seeing more outbound volume, while traditional headhaul markets are beginning to see more inbound volume.
Markets in the Southeast, North and Midwest are experiencing an increase in outbound volume that some haven’t seen in almost a year.
Pittsburgh is experiencing a rise in both outbound and inbound tender volumes simultaneously.
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Seattle, a traditional backhaul market, is now experiencing headhaul market activity.
Outbound volumes are rising in Joliet but rejections are decreasing, pointing to a higher acceptance rate of contract loads.
Indianapolis’ outbound volume caused the Headhaul Index to increase 36.1% week over week, and outbound loads within 100 miles of the San Francisco market are being rejected as a result of protests.
Los ingresos corrientes superan los 44 millones de dólares con un 82 en la regla del 40
Outbound tender volumes for Dallas begin to trend upward, and LA is beginning to see more lanes than usual under 250 miles.
Outbound volumes for Philadelphia have increased while inbound loads decrease, which is not typical for this traditionally backhaul market.
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Outbound reefer volumes for Milwaukee trend upward during the summer months more than others.
Outbound tender city volume in the Detroit market has boomed over the summer with no signs of slowing in the second half of the year.
The Freightos Baltic Index (FBX) is the world’s leading—and most accurate—index of market rates for 40′ containers.
Pennsylvania markets see a drop in volumes but a rise in rejections. Booking volumes for imported maritime volumes are down 11%.
The Atlanta market is beginning to boom again after experiencing a significant dip during the recent holiday.
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Import market share to LA and Long Beach remains high, but overall imports have decreased.
Volumes fall and rejections rise, signifying that capacity is still tight following the Fourth of July.
Refrigerated volume out of the San Francisco area has begun to pick up just in time for summer peak season.
Denver’s outbound tender rejections drop after the holiday to their lowest point in more than two years, while in Allentown, Pennsylvania, they remain strong at 9.8%.
Rejection rates out of Savannah, Georgia, jump to 12.8% while capacity also tightens in Harrisburg, Pennsylvania.
The Freightos Baltic Index (FBX) is the world’s leading—and most accurate—index of market rates for 40′ containers.
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Outbound tender volumes for Charlotte, North Carolina, are falling 8.1% week-over-week as Atlanta’s rises 6.8%.
Outbound tender volumes for Harrisburg, Pennsylvania, are rising 7.1% week over week and rejections out of Chicago have climbed up to 6.5%.
The Port of New York and New Jersey has seen a rise of 49% in the last week while tender rejections out of Elizabeth remain stable at 6.5%.
Atlanta heats up with rejection rates of 10.9%, and large enterprise carriers are still making a profit from diesel prices.
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Outbound tender volume for New Orleans spikes 21% in the last 90 days, and the outbound rejection index for Houston rises 115 basis points.
Outbound tender volumes for Columbus rise, and tender rejections out of Atlanta reach above the national average.
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Spot market rates from Atlanta to Columbus, Ohio, have increased 3.2% in the last month, and the railways struggle with labor issues.
Outbound tender volumes for Green Bay are increasing 4.8% week-over-week, and costs per forty-foot container from Germany rise more than $400 since March.
Outbound tender volumes for New Orleans are rising 12% week-over-week, and linehaul rates continue to drop despite the rise in fuel costs.
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Denver’s outbound tender rejections rise to 10.9%, and Market Dashboard now has new features for better visibility.
Tender rejections out of Chicago drop to 6.3%, while El Paso sees a boom of 25% in outbound volume and 28.6% increase in rejections.
The Freightos Baltic Index (FBX) is the world’s leading—and most accurate—index of market rates for 40′ containers.
Eric Larsen and Zach Blanchard discuss tender rejection rates, which are the leading indicator in finding a profitable market to be in.
Tender rejections out of Ontario are at their lowest point since 2020, and import volume from Japan has increased 90% in the last year.
Trucker Tools is utilizing FreightWaves’ SONAR to provide rate visibility to the carriers that need it most.
Daily national average of spot rates drops, and tender rejections across the country tell the story of the current condition of the market.
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FreightWaves SONAR data can be indispensable, particularly in this environment.
Truckload spot rates from Chicago to Dallas continue to drop, and overall volume shipped from China to the US drops 36% in the last year.
Tender rejections out of LA hit the floor at 3.4%, while out of Jacksonville they are reaching 17%.
Rejection rates soar out of Atlanta, and manufacturing is expected to be on the rise.
Spot rates from Atlanta to Chicago are up 9%, while national intermodal contract rates continue to rise.
A combination of rising fuel prices, lowering spot rates and falling imports makes for a freight market in transition.
Los altos precios del combustible y las tarifas spot más bajas, junto con el 17% de los volúmenes de carga de camiones relacionados con las importaciones, significa que el mercado está en transición
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Tender rejections out of Memphis, Tennessee, surge 251 basis points week-over-week, and reefer spot rates from Milwaukee to Indianapolis begin to drop.
Volatility from Memphis, Tennessee, to Atlanta gives carriers an edge to increase their rates, and outbound tender rejections from New Orleans are on the rise.
The Freightos Baltic Index (FBX) is the world’s leading—and most accurate—index of market rates for 40′ containers.
Rates from LA to Dallas experience a 26 cent drop below the national average, while Jacksonville to Atlanta sees a 32 cent increase.
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Spot rates edged upward from Harrisburg, Pennsylvania, to Charlotte, North Carolina, as capacity declined due to the Memorial Day weekend, and a significant increase in rejection rates out of Jacksonville, Florida, is keeping upward momentum on spot rates.
Intermodal spot rates from LA to Chicago experience a decline, and outbound tender volumes for Houston are up 2% week-over-week.
Spot rates from Houston to New Orleans are almost double the national average, and China’s zero-COVID initiative continues to affect trade.
Outbound tender rejections for Houston hit 8.3%, and retail sales show an increase of 0.9% in the month of April.
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Tender rejection rates from Denver to Los Angeles have increased to 4.2%, and spot rates from Little Rock, Arkansas, to New Orleans have peaked at $3.55 this month.
Domestic intermodal volumes rose 6.8% year-over-year in the first quarter, and tender rejections out of Memphis, Tennessee, have dropped 3% in the past week.
Intermodal spot rates from LA to Atlanta have declined 9.2% in the past week, and dwell times for ocean containers out of Shanghai have reached surprisingly low levels.
Baltimore’s Headhaul Index has increased 12% week-over-week, and spot rates have risen 4% from Jacksonville, Florida, to Indianapolis.
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Spot rates from Chicago to Harrisburg, Pennsylvania, continue trending downward but remain above the national average, and outbound tender rejections for New Orleans rise 6%.
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Intermodal spot rates from LA to Dallas are down 6% in the past week, but dry van spot rates out of Dallas to Indianapolis have begun to increase.
Spot rates from Atlanta to Laredo, Texas, experienced a slight increase in recent days, and fuel prices continue to impact smaller trucking operators.