SONAR's New Truckload Data: A Closer Look

SONARs New Truckload Tender Data: A Deeper Look into Freight Market TrendsSONAR has released a significantly larger and more detailed truckload tender dataset, offering a clearer picture of demand, capacity, and shipping times. This new data, twice the size of their 2019 dataset, includes a wider range of shippers and better coverage across the US and Canada, with a focus on refrigerated goods and food/beverage sectors.SONAR has also introduced new indices, such as the SONAR Truckload Volume Index (STVI), which measures overall truckload volume and provides deeper insights into the market. While the older Outbound Tender Volume Index (OTVI) showed a 11% year-over-year drop in freight demand, the STVI, focusing on stable sectors, indicates a smaller 3% drop. This suggests that certain parts of the market, particularly for larger carriers, are holding up better.Tender rejection rates are also more balanced, sitting around 7.35%, indicating a more balanced market between supply and demand. As the holiday season approaches, these numbers will be closely monitored to understand how the freight market evolves into the new year.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.