Chart of the Week

The freight-rollercoaster continues for trucking

Chart of the Week: Outbound Tender Rejection Index – USA Seasonality View SONAR: OTRI.USA

The Outbound Tender Rejection Index (OTRI) pushed above 16% for the second time in 2020 last week, after being as low as 2.5% in early May, which was the lowest value seen since the index was created in March 2018. To put it in perspective, the highest value recorded for the national index that measures the rate at which carriers reject their electronic load requests from shippers was 26.8% in March 2018...

https://s29755.pcdn.co/news/the-freight-rollercoaster-continues-for-trucking

Southern California has become the hub for the domestic freight market

Chart of the Week: Freightos Baltic Daily Index – China to North America West, Outbound Tender Volume Index – Los Angeles, Customs Import Shipments – Los Angeles, Outbound Loaded Domestic Rail Containers – Los Angeles SONAR: FBXD.CNAW, OTVI.LAX, CSTM.LAX, ORAILDOML.LAX

Southern California has become a key entry point for freight entering the U.S. in the post-COVID-19 market. After a notable shift in shippers moving freight in through the eastern ports in late 2019, they have scrambled to recover...

https://s29755.pcdn.co/news/southern-california-has-become-the-hub-for-the-domestic-freight-market

Cass Truckload Linehaul Index implies 2020 may get tougher for many carriers

Chart of the Week: Cass Truckload Linehaul Index – USA, Revenue per Driver per Week – Van Company and Leased Fleet SONAR: CTLI.USA, DRVREV.VCFOO

The Cass Truckload Linehaul Index is showing a massive drop-off in truckload prices this year, which may be more indicative of a deterioration of contracted pricing than the much more transparent spot market. 

A strong connection exists between the Cass index and the Truckload Carriers Association revenue per driver per week for its dry van members. Both...

https://s29755.pcdn.co/news/cass-truckload-linehaul-index-implies-2020-may-get-tougher-for-many-carriers

2018 was worse than 2020 for trucking

Chart of the Week: Outbound Tender Rejection Index – USA, DAT Longhaul Van Rate – National SONAR: OTRI.USA, DATVF.VNU

Anything that provides immediate, intense gratification typically comes at a high cost. The cost of the 2017-18 freight boom has lasted for nearly two years. Spot rates, which are a good measure of capacity fluctuations in the domestic trucking market, grew as fast as they ever have in 2017-18, culminating at a peak around the Fourth of July in 2018. Not only were volumes growing...

https://s29755.pcdn.co/news/2018-was-worse-than-2020-for-carriers

Good signs for trucking from produce?

Chart of the Week: USDA Produce Truckload Rate – San Francisco to Chicago, Reefer OUtbound Tender Rejection Index – California SONAR: AGRATE.SFOCHI, ROTRI.CA

The year’s headlines to date have centered around panic and disorder. Anyone perusing social media can see a slough of memes pointing out what a disaster of a year 2020 has been thus far. This article will point to one area that is actually having a better year – the produce trucking sector.

“Produce season” is a reference to the moving...

https://s29755.pcdn.co/news/good-signs-for-trucking-from-produce

Longhaul domestic freight driving May recovery, signaling a strong June

Chart of the Week: Longhaul Outbound Tender Volume Index, Loaded Domestic Rail Containers, International Loaded Rail Containers – USA SONAR: LOTVI.USA, ORAILDOML.USA, ORAILINTL.USA

According to FreightWaves national Outbound Tender Volume Index (OTVI) and rail volume data that measures domestic loaded intermodal container moves (ORAILDOML), the freight market hit a bottom around the middle of April. The OTVI hit its lowest non-national-holiday point in its two-year history on April 16 of 8,439,...

https://s29755.pcdn.co/news/longhaul-domestic-freight-driving-may-recovery,-signaling-a-strong-june

Non-durables showing more resilience as imports continue decline

Chart of the Week: Outbound Tender Volume Index– USA SONAR: CSTM.DG, CSTM.NDG

Maritime import volumes fell through most of May after showing strong signs of recovering after the Chinese New Year (CNY) and COVID-19 inspired trough. The former being an annual event that causes import volumes to drop as much as 30-40%, but this year was deepened and extended thanks to the pandemic. Most imports can be identified as durable and non-durable goods.

Most freight is classified as durable, but...

https://s29755.pcdn.co/news/non-durables-showing-more-resilience-as-imports-continue-decline

Are freight volumes here to stay? The great debate continues

Chart of the Week: Outbound Tender Volume Index– USA SONAR: OTVI.USA

After experiencing one of the most volatile periods in history over the past two months, freight market volumes have recovered to February levels in the past week. February is not a great month for freight traditionally speaking but considering a month ago volumes were running 15-20% below average for this time of year, February looks fine.

One of the most debated topics in the transportation industry and the overall economy is...

https://s29755.pcdn.co/news/are-freight-volumes-here-to-stay-the-great-debate-continues

Reefer capacity begins to tighten; could van follow?

Chart of the Week: Reefer Outbound Tender Rejection Rate, Van Outbound Tender Rejection Rate – USA SONAR: ROTRI.USA, VOTRI.USA

The freight market is still reeling from the economic mess created by the COVID-19 pandemic, but reefer tender rejection rates have been on the rise since bottoming in late April around 3.8%—now sitting around 5.56%. Dry van rejection rates have yet to make a meaningful movement since bottoming around 2.6% in mid to late April. Could the increase in reefer tender...

https://s29755.pcdn.co/news/reefer-capacity-begins-to-tighten-could-van-follow

Could surging Chinese imports signal a full freight recovery?

Chart of the Week:  U.S. Customs Maritime Import Shipments – China to U.S. Seasonality View SONAR: CSTM.CHNUSA

Total U.S. maritime shipment volumes have grown to higher levels they were at prior to the COVID-19 pandemic that shuttered China’s production. The pandemic was starting to become a significant public health concern for China right around the time of their biggest holiday of the year, the Lunar New Year aka Chinese New Year (CNY).  Import volumes from China typically slow for about four...

https://www.freightwaves.com/news/could-surging-chinese-imports-signal-a-full-freight-recovery

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