Why automated truckload freight quotes are more accurate
When it comes to establishing truckload freight quotes for customers, it is essential to use automation to get the most accurate results and offer the most competitive freight rates. Transportation networks rely on timely rate estimates that are competitive while also being profitable. Creating quotes the old-fashioned way opens supply chains to several problems that […]
Improve Freight Market Volatility with SONAR
Lane SONAR Signals provide a snapshot of general rate control by lanes at both the origin and destination. However, the real implications of SONAR Signal to show a snapshot into the freight market are more significant than meets the eye. These values are easily recognized by their gauge design when viewing any lane. Shippers, carriers, […]
The Cost of Operating a Truck
FreightWaves estimates the total cost of operating a truck at about $210,000 annually (or about $1.76 per mile) based on the average truck driver driving 120,000 miles per year (400 miles per day, 6 days a week, 50 weeks per year). Assuming a driver can obtain $2 per mile (including fuel), this would mean that […]
Freight carrier models: asset-based carriers, non-asset-based carriers and asset-lite carriers
(Graphics created by Emily Ricks) Understanding the nuances between freight carriers’ business models can be confusing at best. Brokerages, asset-based, non-asset-based and lite providers all exist. However, some combine and fall within one another’s categories. Others thrive in a space between all three. It’s a continuously evolving industry, and an asset-based lite solution is one […]
Trucking Rates per mile September 2020
In the following infographic, the FreightWaves SONAR team has provided the most recent data from SONAR to show the outbound regional average trucking rates by region. INFOGRAPHIC: Outbound Regional Average Trucking Rates according to SONAR
The Top 15 Trucking Songs
Prior to the COVID-19 pandemic, shipping OTR volumes were well on their way to breaking records. According to a February FreightWaves post, “It is still early in the year, and there are still plenty of hurdles to overcome for carriers, but an often overlooked pattern has changed since last summer that may help their bottom […]
Freight Futures: The Future(s) of Freight
Guests Kyle Lintner, Principal and Managing Partner at K Ratio and Daniel Stanton “Mr. Supply Chain®” join Freight Forecasting host Michael Vincent in a discussion of mid- and long-term freight forecasting and how Trucking Freight Futures can greatly benefit the trucking industry. Freight Forecasting talks Freight Futures in “The Future(s) Of Freight” Episode Watch the […]
Trucking data is not enough in unprecedented times
FreightWaves’ Lead Economist Anthony Smith and Freight Forecasting host Michael Vincent talk about how important macroeconomic data is when trying to forecast capacity demand. With SONAR, a user has access to truckload and market data in any of 135 key markets in the U.S. But that user also has critical information from industry verticals and historical […]
Ways to Start Your Own Trucking Company
With trucks delivering 70% of all cargo in the U.S., and e-commerce on the rise, there’s significant profit potential in the logistics industry. Sole proprietorship A single person owns and operates the entire company, as well as accepts all its legal responsibilities. A sole proprietorship is considered the easiest way to structure a company. Partnership […]
How much weight can a big rig carry? Infographic
Big rigs are 18-wheelers limited by federal regulation to a maximum loaded weight of 80,000 pounds (including the weight of the rig itself) broken into three main categories: Flatbed trailers can load up to 48,000 pounds of cargo. Dry vans trailers can load 44,000 to 45,000 pounds. Refrigerated trailers, or reefers, can load 42,500 to […]
Trading trucking company stocks
If you are a long-term investor in or a trader of trucking company stocks, we believe it is imperative to follow the FreightWaves SONAR outbound tender volumes index (OTVI) and outbound tender rejections index (OTRI). The reasons for this are two-fold: trucking stocks tend to trade based on a carrier’s financial performance; and future expectations […]
How do tender reject rates predict the freight economy?
Tender rejections occur when a contracted carrier rejects an electronic load request from a shipper customer. FreightWaves SONAR measures the former via the outbound tender reject index (OTRI). Carriers really only have two reasons for rejecting a contracted load. One, they do not have available capacity to service the request. Or, two, there are more […]
How to develop freight forecasts using SONAR
Forecasting trucking rates is one of the most important roles for all freight forecasters. Load volumes and truck capacity for individual markets are the primary drivers in developing freight forecasts. Each individual freight market has its own unique load demand and truck capacity cycles. These cycles are most often linked to seasonal demand patterns and the ratio of outbound to inbound freight volumes in each market.
Good news: The freight market is about to turn up
Freight market forecasting is a tricky game these days. Historical freight market data models provide good reference points, but because of the unprecedented nature of COVID-19 (a classic example of a black swan event), we have to rely on current data to understand what is taking place in the freight market. The good news is […]
Top things a trucking company can do to maximize trucking rates
Regardless of whether a trucking is primarily a dry van truckload carrier, reefer, or flatbed, all carriers have one thing in common – a desire to maximize trucking rates.
Why freight brokerages should benchmark their performance against competitors
FreightWaves offers financial and operational benchmarking for 3PLs and freight brokerages
Why do trucking spot rates change daily?
Trucking spot rates are the matching of real-time demand with real-time capacity on a daily basis.
