Trucking Company Failures:SONAR users will now have access to trucking company failures. This data is calculated quarterly by Donald Broughton originating from creditors reporting bad debt expenses (defaults) related to trucking companies. These are preferred over bankruptcy filings because such filings are not always filed and are rarely timely. Trucking company failures are a good barometer for general trucking market and economic health. Increasing numbers indicate a weakening climate for trucking while low or decreasing values indicate a stable environment.
Container Volumes and Wait Times: The U.S. imported $2.6 trillion in goods last year. These goods enter the U.S. through ports of entry through seaports and land ports. These goods are processed and moved via truck to warehouses and distribution centers across the country. Now, SONAR users will have access to all the major seaport inbound and outbound container volumes including the ports of L.A./Long Beach, New York/New Jersey, and Savannah. These volumes tend to lead trucking activity in their regions. Increasing imported goods in the ports means increasing demand for trucks.
In addition to having access to port container volumes, FreightWaves has also broken down the WAIT Index, which measures wait times in various markets and facilities, into port specific granularities so users can see which ports detain carriers the longest and shortest amount of time each week.