FREIGHTWAVES' SONAR CHART OF THE WEEK (August 12-18, 2018)
Chart of the Week: Outbound Tender Volume Index San Francisco comparing Outbound Tender Volume Index Los Angeles (SONAR: OTVI.SFO comparing OTVI.LAX)
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SONAR OTVI.LAX comparing OTVI.LAX [/caption]
SULTAN OF SONAR SAYS:
Last week, we covered some of our predictions of ranges of peak truckload spot rates out of the West coast this peak season. We can see from the data that volumes have been steadily climbing with spot rates soon folllowing. Container rates out of China are also being monitored for additional insights on how imports will drive the freight market. All signs point to a strong surge off the West coast (it's still early, but we think other parts of the country will struggle more than the West coast this peak).
Our focus for last week's piece had us looking at activity around Los Angeles and Seattle. This week, we will focus on San Francisco.