This “SONAR highlight reel” hits data highlights/trends in truckload, intermodal and maritime in 2-3 pages for each mode.
The truckload market (pages 2-6) continues to show signs of easing ahead of the “busy” summer months. The FreightWaves National Truckload Index (NTI) brings a new daily spot rate to the freight market that is backed by the power of FreightWaves Trusted Rate Assessment Consortium (TRAC). The NTI has declined by over 19% from its high earlier this year. As rates have declined, fuel costs are eating further into carriers’ bottom lines as market conditions are the most difficult they have been in several years.
Domestic intermodal (pages 7-9) volume continues to show no signs of a “looming freight recession.” In the second week of May, domestic intermodal volumes were 5% higher than year-ago levels. Higher volumes bring higher prices as evident by both FreightWaves data around domestic intermodal contract prices as well as commentary from both publicly traded intermodal companies and intermodal shippers, where double-digit rate increases are in the works.
At FreightWaves’ Future of Supply Chain, SONAR Container Atlas (SCA), a new ocean intelligence tool, made its debut. Container Atlas brings the ability to show what is happening in the ocean market, on both the supply and demand side, with the ability to break down data on a port-to-port level.
The lockdown in Shanghai is dramatically impacting the ocean market, driving bookings and volume levels lower, while rejection rates are climbing near the highest levels within the dataset.