Weekly Fuel Report: June 13, 2023
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There has definitely been a sustainable shift in how freight is distributed domestically.
Tender rejections have yet to return to mid-May’s all-time low, but their softness could persist in a trough for the next two quarters.
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One last round of bad news to cap this week: China and the U.S. both posted dismal data from their respective industrial economies.
The Freightos Baltic Index (FBX) is the world’s leading—and most accurate—index of market rates for 40′ containers.
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Volumes did see some growth ahead of the upcoming Memorial Day holiday, though not nearly enough to bust out the champagne and sparklers.
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FreightWaves’ Carrier Rate Report — presented in partnership with Optym and Trimble — provides a review of the previous quarter and a forecast for the coming months.
So as not to bury the lede, this week’s lack of change in the PPI might ultimately prove to be the most exciting stability in quite some time.
The Freightos Baltic Index (FBX) is the world’s leading—and most accurate—index of market rates for 40′ containers.
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It is becoming increasingly clear that hopes of a container boost from the reopening of China are all but gone.
Companies are still trying to get their margins back to pre-pandemic levels with price increases on finished goods. This will continue to put freight demand at risk in the second half of the year.
Despite expectations for seasonal growth in the second quarter, the health of the American consumer has continued to become more precarious, stirring headwinds for even once-reliable sources of freight.
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Flatbed capacity tends to be as erratic as its demand, making it harder to secure in general.
The Freightos Baltic Index (FBX) is the world’s leading—and most accurate—index of market rates for 40′ containers.
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After over a year of declining volumes and rates, trucking spot rates have leveled and demand has just witnessed an unseasonable jump.
Volumes are just beginning to tick up at the tail end of April, but freight demand in the quarter has been mostly flat and thus grossly unseasonable.
Download this freight market report and learn why FreightWaves experts are seeing a fairly bleak outlook for the rest of 2023.
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The pandemic may have exposed long-term weakness to the railroads’ intermodal growth plans.
FreightWaves SONAR has added several features to increase pricing efficiency and strategy effectiveness for transportation teams everywhere.
Join FreightWaves Founder and CEO, Craig Fuller, and Head of Market Intelligence, Zach Strickland on May 24 at 2pm ET for a conversation sharing critical insights from our SONAR platform and an advanced look into the freight market.
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The Freightos Baltic Index (FBX) is the world’s leading—and most accurate—index of market rates for 40′ containers.
Southern California markets were flush with transportation activity during the pandemic. That has eroded and then some. This has not only left transportation networks exposed operationally but also created pricing gaps.
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What do historically low rejection rates mean for the truckload industry?
While ocean carriers are not facing the same risks as their domestic trucking counterparts, given their consolidation and enormous war chests, ocean’s weakness in demand will continue to trickle down into truckload markets.
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The Freightos Baltic Index (FBX) is the world’s leading—and most accurate—index of market rates for 40′ containers.
Upstream and historic values are predicting another strong deterioration in truckload spot rates in April. How seriously should we take this?
Despite seeing slight seasonal growth, truckload markets are showing a continued soft patch.
Join FreightWaves Founder and CEO, Craig Fuller, and Head of Market Intelligence, Zach Strickland on April 20 at 2pm ET for a conversation sharing critical insights from our SONAR platform and an advanced look into the freight market.
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The gap between current levels of freight demand and those of 2019 is narrowing, casting doubt on the market’s ability to sustain growth.
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The consumer will be key to resolving the present tension in freight demand’s future, but consumers continue to be predictably unpredictable.
The Freightos Baltic Index (FBX) is the world’s leading—and most accurate—index of market rates for 40′ containers.
Your weekly fuel report has arrived!
Market conditions will likely become a bit more favorable before they get much worse.
The automotive industry may stay leaner longer.
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Join FreightWaves Founder and CEO, Craig Fuller, and Head of Market Intelligence, Zach Strickland on March 16 at 2pm ET for a conversation sharing critical insights from our SONAR platform and an advanced look into the freight market.
Strangely enough, tender volumes are abiding by seasonal trends.
The Freightos Baltic Index (FBX) is the world’s leading—and most accurate—index of market rates for 40′ containers.
Your weekly fuel report has arrived!
Perhaps the biggest question of 2023 for domestic trucking is when will the surplus of capacity fade to a point that prices stop falling. One data point provides deeper insight than simply a count of drivers or tractors.
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When trucking capacity tightens and rates increase, intermodal shipping by rail becomes more attractive in general. That does not appear to have happened during the pandemic years.
The Freightos Baltic Index (FBX) is the world’s leading—and most accurate—index of market rates for 40′ containers.
Your weekly fuel report has arrived!
Lunar New Year normally brings a slow shipping period for imports, but the lead-in period was also lackluster. With many companies calling for a return to seasonal patterns later in the year, just how close are we to that being a reality?
Join FreightWaves Founder and CEO, Craig Fuller, and Head of Market Intelligence, Zach Strickland on Feb. 28 at 2pm ET for a conversation sharing critical insights from our SONAR platform and an advanced look into the freight market.
Your weekly fuel report has arrived!
Many people get hung up on trying to figure out how much capacity is readily available in trucking when they should be more focused on monitoring demand trends.
The Freightos Baltic Index (FBX) is the world’s leading—and most accurate—index of market rates for 40′ containers.
Your weekly fuel report has arrived!
Your weekly fuel report has arrived!
Your weekly fuel report has arrived!
Join FreightWaves Founder and CEO, Craig Fuller, and Head of Market Intelligence, Zach Strickland on Jan. 26 at 2pm ET for a conversation sharing critical insights from our SONAR platform, […]
Your weekly fuel report has arrived!
The Freightos Baltic Index (FBX) is the world’s leading—and most accurate—index of market rates for 40′ containers.
Your weekly fuel report has arrived!
Your weekly fuel report has arrived!
The Freightos Baltic Index (FBX) is the world’s leading—and most accurate—index of market rates for 40′ containers.
Your weekly fuel report has arrived!
2022 FreightWaves SONAR Wrapped
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FreightWaves has announced that SONAR customers can now see Canadian data within the Supply Chain Intelligence (SCI) platform.
OmnisTMS enhances its truckload pricing engine with high-frequency spot rates.
Your weekly fuel report has arrived!
Your weekly fuel report has arrived!
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.
The Freightos Baltic Index (FBX) is the world’s leading—and most accurate—index of market rates for 40′ containers.
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.
Market data will enhance multiplayer experience for shippers and carriers collaborating on GoodShip.
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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.
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.
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.
Outbound volumes from Atlanta are picking back up after hitting their lowest levels since 2020, and imports to the Port of New York and New Jersey drop, dragging truckload volumes with them.
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FreightWaves unveiled two new features in SONAR at the F3 event, and container spot rates from China dropped further.
The Freightos Baltic Index (FBX) is the world’s leading—and most accurate—index of market rates for 40′ containers.
Your weekly fuel report has arrived!
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.
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.
Sick of earnings season yet? It’s this time of the quarter when I miss my old position as a sell-side stock analyst the least. For those looking to get caught […]