On this episode of #WithSONAR, co-hosts Kyle Taylor and Luke Falasca discuss how the number of tender rejections predicted the decline in freight rates on most major lanes weeks ago. Rates declined because capacity softened. SONAR’s predictive capacities showed that tender rejections and lower volume gave the signal for rates to begin to fall early in January.
Now, subscribers can use SONAR to help determine which key markets may have rate increases in their near future.
In addition, Falasca and Taylor talked about how brokers and carriers can get out in front of these market changes in the market by following the changes in tender rejections using SONAR.
Watch the episode below:
SONAR tracks daily activities in the domestic and global freight markets, with data generated from thousands of exclusive sources with more than $200 billion of contract freight transactions. SONAR offers historical and current freight rate, demand and capacity index data across all modes. The industry’s first and fastest platform uses current tender rejection rates to create the most current freight activity and logistics rate indices in the market.
The only freight forecasting platform that combines contract tender data with spot rate data, SONAR creates predictive freight rates. Plus, SONAR uses artificial intelligence to develop consistently updated forecasts to give you the most reliable predictions of where trucking spot rates, supply chain demand and logistics capacity are headed over the next 12 months.