NTI

Historically, November is the month in which maritime imports begin to move inland for their final push before the holiday shopping season. Yet such imports were lost at sea this year, failing to materialize during ocean shippers’ peak season. This one-two punch of weakened import volumes and overstocked retail inventories means that carriers are left with fewer opportunities to source freight.

Weekly NTI Update

Weekly NTI Update

Historically, November is the month in which maritime imports begin to move inland for their final push before the holiday shopping season. Yet such imports were lost at sea this year, failing to materialize during ocean shippers’ peak season. This one-two punch of weakened import volumes and overstocked retail inventories means that carriers are left with fewer opportunities to source freight.

Outbound demand in Harrisburg and Allentown, Pennsylvania, bottomed out at the start of the month and are starting to slowly rise. Dallas and Fort Worth, Texas, both are seeing rejection rates drop to a two-year low.

FreightWaves SONAR recently released two new market analysis tools that provide lane-level rate benchmarking capabilities and insight into the future state of the domestic truckload spot market. 

Atlanta still owns the most market share by outbound volume but saw a drop in its value as demand falls further. Imports to the Port of New York and New Jersey fell to their lowest levels since 2021, bringing surface transportation volumes down with them.

Contracted tender volumes in Ontario, California, remain at their lowest levels since 2020, and markets in Illinois are struggling to recover from drops this month.

Weekly NTI Update

Markets along the East Coast in the path of Tropical Depression Nicole are seeing relatively normal fluctuations in rejections in volume compared to previous severe storms.

Since the pandemic started, many shippers found their existing contracts unable to ensure carrier compliance. Supply and demand were especially volatile, and so spot rates, which are more sensitive to changing market conditions, handily outpaced contract rates.

Dry van volume dropped significantly this month leading into the holidays, but reefer demand remains strong. Diesel price per gallon grows slowly, but the spread between wholesale and retail prices rises.

Markets across the board have been seeing drops in both inbound and outbound volume since the start of the month.

FreightWaves unveiled two new features in SONAR at the F3 event, and container spot rates from China dropped further.

Weekly NTI Update

Weekly NTI Update

Truckload volumes in Elizabeth, New Jersey, are still rising after a boost in imports last week, but that will likely change in the days ahead. Detroit’s volume boom went bust, bringing reactions to their lowest on record since 2018.

Since the pandemic started, many shippers found their existing contracts unable to ensure carrier compliance. Supply and demand were especially volatile, and so spot rates, which are more sensitive to changing market conditions, handily outpaced contract rates.

Charlotte, North Carolina, is seeing a slow recovery after volumes dropped to their lowest levels since February of 2021, and reefer volume in Milwaukee is up more than 22% this week.

Outbound demand in Denver is swinging up after falling to a two-year low earlier this month, and Salt Lake City has shown consistent headhaul market activity since Labor Day.

Outbound demand in Fort Worth, Texas, is up for the second week in a row, and diesel prices have stopped increasing but show no sign of which direction they will go next.

Ontario, California, outbound volumes have been trending up the last two weeks, while volumes in Joliet, Illinois, started to recover but have flatlined.

Weekly NTI Update

Declining contract volumes may bring large carriers into the spot market, forcing spot rates into negative margin territory if they are not already there.

Overall outbound volume levels out of Milwaukee are down this month, with the majority of the drop coming from reefer demand. Atlanta’s outbound volumes have trickled down this month, bringing down its market share.

Imported container volumes to the Port of New York and New Jersey are up this week after a 27% decline, and outbound volumes in Detroit remain high but aren’t gaining any more ground.

Dallas lost more market share by outbound volume this week as volumes continue to decline, and spot rates from China to the East and West coasts of the US dropped after a week of little to no change.

Volumes out of Seattle are trending up this week after reaching a two-year low, and diesel prices are up more than 30 cents since the start of the month.

Imports to the Port of Houston saw an increase in the first week of October, bringing up truckload volumes. Fall produce in Spokane, Washington, builds demand.

Weekly NTI Update

Imported container volumes to LA are up this week after taking a drop in the beginning of Q4, allowing the surface transportation market to start to recover leading into peak season.

Since the pandemic started, many shippers found their existing contracts unable to ensure carrier compliance. Supply and demand were especially volatile, and so spot rates, which are more sensitive to changing market conditions, handily outpaced contract rates.

Demand peaked over the summer in Detroit, but volumes are taking a sharp drop this month; and Nashville sees a major upswing in Q4.

Reefer volumes in Illinois remained elevated throughout most of October 2021. Although they were up leading into October this year, reefer volumes have since dropped significantly.

After a monthlong decline in volumes from Southern California, they begin to tick upward this week, and spot rates from Rotterdam to New York rise 8.4%.

The Lakeland and Jacksonville markets are both recovering from Ian, but tender rejections remain relatively high. Retail diesel prices are swinging back up, collapsing the spread between retail and wholesale.

Weekly NTI Update

The truckload market is already experiencing a rapid deterioration in pricing. How long until the LTL market recognizes this inevitability?

Hurricane Ian boosted spot rates in the southeast over the past 10 days, but as rejection rates and volumes decline, when will spot rates on a national level take another step lower.

After reaching a six-month high in outbound demand, volume in Chicago is on a steady downward stream, and both major markets in Pennsylvania are also experiencing declines.

Dallas, Cincinnati and Denver are all experiencing upward trends after outbound volume lows.

As Southern California is the heartbeat of outbound truckload volume, the significant decrease in freight coming out of the region reflects in national freight volumes; maritime booking volume from all ports in SONAR Container Atlas are down 20% from this time last year.

The reefer market in Milwaukee is the primary driver behind its demand, and in the last year volumes are down 59%. Ocean spot rates from China to both U.S. coasts drop even further as the fourth quarter starts.

Atlanta is seeing consistent levels of outbound volume, retaining the majority market share with 4.1%. Diesel prices are decreasing at a faster rate than they increased over the summer.

Weekly NTI Update

Carriers and brokers tend to have the weather on a TV somewhere in their facilities throughout hurricane season because of the dramatic impacts storms can have on their operations and bottom lines. Ian hit at a time when trucking will not be as reactive to this devastating storm.

Prepárese para el “invierno de los camiones”.  Todd Fowler y Carney Blake de KeyBanc, que son los analistas de carga aérea y logística del grupo, escribieron en una nota el […]

Analysts are predicting that carriers won’t experience a typical peak season. That’s bad news for the trucking industry.

The port of Savannah imported more than 200,000 TEUs in September, and truckload volumes in Denver plunged to a two-year low.

Since the pandemic started, many shippers found their existing contracts unable to ensure carrier compliance. Supply and demand were especially volatile, and so spot rates, which are more sensitive to changing market conditions, handily outpaced contract rates.

Reefer volumes in Fresno, California, continue a decline as September closes, while both inbound and outbound volumes in Memphis, Tennessee, are consistently trending upward.

Atlanta is seeing a sharp rise in outbound volume, and markets in Florida, southern Georgia and Alabama increase inbound volume in preparation for the hurricane.

Truckload volumes in Ontario, California, decline as the ports hit their lowest market share in decades, and Port Houston sees a drop in imports.

Weekly NTI Update

Since the pandemic started, many shippers found their existing contracts unable to ensure carrier compliance. Supply and demand were especially volatile, and so spot rates, which are more sensitive to changing market conditions, handily outpaced contract rates.

Outbound volumes from Detroit are back to their highest levels on record since 2018, and the spread in intermodal rates between Atlanta and LA is its lowest since 2021.

Imports to the Port of New York and New Jersey are down this week, causing the Elizabeth, New Jersey, truckload market to soften. Shipments worldwide are down more than 33% since July 1.

FedEx is still planning to invest $6.3 billion in its network, even as volumes and revenue slump.

Headhaul markets historically begin to send out more volume in preparation for the holiday peak, but 2022 continues to show different trends.

Rejection rates in El Paso swung upward in response to an increase in outbound volume, and the Department of Energy clocks diesel prices below $5 per gallon for the first time since April.

Reefer volumes spike in Illinois, the port of Houston sees a record number of TEUs in August, and exports from China continue to slide worldwide.

Weekly NTI Update

Outbound tender volumes are down in the last couple of days to their lowest levels since the start of the summer, and the record breaking levels in Detroit are over — for now.

Since the pandemic started, many shippers found their existing contracts unable to ensure carrier compliance. Supply and demand were especially volatile, and so spot rates, which are more sensitive to changing market conditions, handily outpaced contract rates.

Outbound volume in Harrisburg, Pennsylvania, is booming, raising its market share to 3%. Flatbed market experiences a significant decrease in rejections.

Ontario, California, makes a full recovery of outbound volume, and the spread between rates to import to the East and West coasts increases.

FreightWaves has partnered with MerQube to bring the first index to track the performance of the supply chain and logistics industry. National outbound volume levels out while rejection rates continue their decline.

SONAR data for Sept. 12 shows reefer volumes in Memphis are heating up, while the larger reefer market of Milwaukee is seeing a decrease.

Weekly NTI Update

Carriers gobble up contracted freight, leaving the spot market barren for the holiday week. While not overtly obvious, there is still some semblance of hope for a decent peak season for carriers.

Since the pandemic started, many shippers found their existing contracts unable to ensure carrier compliance. Supply and demand were especially volatile, and so spot rates, which are more sensitive to changing market conditions, handily outpaced contract rates.

Phoenix and Denver are both seeing an uptick in outbound volumes days after the holiday drop, and capacity in Elizabeth, New Jersey, handles the increased port volume.

Containerized imports to Savannah were increasing before the holiday, and rejection rates out of Dallas fell 100 basis points since Monday.

Retailers are grappling with a “sonic boom of inventory” — and they have no idea what this year’s Christmas shopping season will look like.

Nashville, Tennessee’s, rejection rates have crashed to their lowest values since April 2020, putting downward pressure on spot rates, but in Kansas City, Missouri, rejections and rates are both rising.

The rate at which carriers are rejecting freight out of LA is pushing spot market rates upward, while the opposite is happening in Detroit.

Since the pandemic started, many shippers found their existing contracts unable to ensure carrier compliance. Supply and demand were especially volatile, and so spot rates, which are more sensitive to changing market conditions, handily outpaced contract rates.

Salt Lake City is seeing increased outbound volume to start September, while Denver continues to experience a decline.

Outbound volumes from New Orleans are rising sharply at the end of the month while they plunge in San Antonio.

Dwell times in the Port of Los Angeles dropped below four days, and outbound volumes are up in Savannah, Georgia, due to more imports being sent to the East Coast.

Outbound volumes in Allentown continue to rise at the start of the week, and Detroit levels are nearing a record since 2018.

Weekly NTI Update

Outbound volumes in Ontario are up after a 12.3% drop earlier this month but decline in the formerly greener pastures of South Carolina.

Imported twenty-foot equivalent units cleared through customs to the Port of New York and New Jersey fell last week, and truckload volumes in St. Louis are climbing this week.

Outbound volumes are their highest on record in Las Vegas, but Austin, Texas, sees an even larger increase.

Reefer volumes in Northern California start to fall, and Bowling Green, Kentucky, shows signs of a headhaul market.

Volumes out of Dallas fall while rejections rise; Indianapolis sees respectable increases in both.

Weekly NTI Update

The discrepancy between inbound and outbound volumes in Louisville, Kentucky, is the greatest it has been on record. Philadelphia continues to see an increase in the Headhaul Index.

Since the pandemic started, many shippers found their existing contracts unable to ensure carrier compliance. Supply and demand were especially volatile, and so spot rates, which are more sensitive to changing market conditions, handily outpaced contract rates.

Outbound tender volumes are driving down the Headhaul Index in Baltimore, while volumes in Detroit continue to soar.

The Headhaul Index in Denver dropped to its lowest score since June, and both inbound and outbound volumes in New Orleans remain undecided on which direction to take.

The freight market in Lexington, Kentucky, continues to heat up, as Jacksonville, Florida, cools down.

Outbound tender rejection rates in Memphis fell hard to the lowest value since April 2020, while outbound volumes in Philadelphia continue to rise.

Weekly NTI Update

Since the pandemic started, many shippers found their existing contracts unable to ensure carrier compliance. Supply and demand were especially volatile, and so spot rates, which are more sensitive to changing market conditions, handily outpaced contract rates.

Outbound volume from northern California has jumped in August, and rejection rates have soared in Baltimore from increased volumes and protests at the port.

Detroit sees at least a 20% decrease in both inbound and outbound volumes, and imports to the Northeast are slow to transition to the truckload market.

Philadelphia is a backhaul market that has switched to a headhaul market so far this year, and outbound volumes in Louisville, Kentucky, have reached their highest point since SONAR began tracking the market in 2018.

Jacksonville shows steady signs of its headhaul nature after backhaul activity earlier this year. Outbound volumes in Salt Lake City have decreased 11% in August.