Who moved the freight?
In markets like the current one we find ourselves in, it is very important to not just do the same old thing.
The SONAR charts below can be used to identify growing or strengthening markets where opportunities to get loaded with good-paying freight exist.
They can also be used to avoid areas that are drying up in terms of truckloads.
What a difference a year makes. We began throwing out all our seasonal comparisons because, well, 2020.
“Who has Alien Invaders and Murder Hornets for July?” Right?
The SONAR chart below has OTVI – outbound tender volumes on the left and OTRI– – outbound tender rejections on the right. Both charts are showing 2019 through this year.
Simplified: Truckload volumes on the left (higher means more loads) and capacity on the right (lower means more capacity)
Focus on the timeline at and just after the blue line ends in June on the left chart. The blue line represents 2022 volumes in this case.
Green (2021) and purple (2019) both drop and take a quick summer bump up before the late summer slowdown getting ready for peak. Orange does not do that.
Perform the same exercise on the right chart, which is rejections.
What happened in 2020? RIGHT!
What is happening in 2022? RIGHT!
Oh, and Shanghai is shutting down again.
So, where is the freight?
Glad you asked. Check out the SONAR charts below.
The left side is a 3D map displaying monthly truckload volume changes in color. Blue means growth, gray is stable-ish, and red means shrinking. The elevation represents growth in rejections. The higher the elevation, the tighter the capacity.
San Diego, Las Vegas, and Wilmington are leading a volume growth charge!
Sort of like the Boy Scouts defending our borders. No offense.
The right treemap shows market share change year-over-year. Atlanta, Ontario, Harrisburg, Los Angeles, and Joliet – normally some of America’s biggest markets – all with significant losses.
Those markets were the freight drivers. The markets driving things today are the distribution areas.
For instance, the treemap has the largest markets in the upper left-hand corner. A recurring theme is, import markets are down and warehousing distribution markets are up in truckload volumes.
Los Angeles is down 4.7% YoY while Ontario is flat at -0.9%
Peace and love