2018 is shaping up to be the highest freight volume market in over a decade according to the Cass Freight Index (CFIS.USA) on SONAR. The index is currently showing 1.31, up from 1.17 a year ago. The 12% increase is a reflection of strong volumes in the industry and the pricing strength is not a reflection of a declining number of trucks.
This is a great sign for carriers moving into the second half of 2018, as conditions should remain tight as the economy continues the momentum going into the third and fourth quarters.
The Cass Freight Index for Shipments is an index representing the volume of shipments in a given month from the entire Cass client base. This is indexed against a January 1990 base point of 1.00. Larger values indicate more shipments are occurring, while smaller values mean fewer are moving.
About Chart of the Week
The FreightWaves Chart of the Week is a chart selection from SONAR that provides an interesting data point to describe the state of the freight markets. A chart is chosen from thousands of potential charts on SONAR to help participants visualize the freight market in real-time. Each week the Sultan of SONAR will post a chart, along with commentary live on the front-page. After that, the Chart of the Week will be archived on FreightWaves.com for future reference.
SONAR aggregates data from hundreds of sources, presenting the data in charts and maps and providing commentary on what freight market experts want to know about the industry- in real time.
If you are interested in gaining insights with thousands of freight market charts and maps, sign up for a SONAR demo.
Stay up-to-date with the latest commentary and insights on FreightTech and the impact to the markets by subscribing.
