It’s Monday, sharks. And, if you look at the chart below you’ll think there is blood in the water all over the country (with the exception of Saginaw, Michigan).
This is true, but it is carrier blood in the water as rejection rates have dropped in all markets since last year.
The SONAR chart is showing the change in rejection rates year-over-year by market. In fact, it is showing double-digit reductions across the board. Well, almost.
This is a frightening illustration for carriers; it shows capacity loosening across the country.
However, there is hope!
Real-time data like this next chart can help you find that blood and get paid. (Blood is green for a freight shark – just like cash!)
Cedar Rapids, Iowa, is a nice bright shade of green and in the upper left corner.
Bright green and placed in the upper left corner of this treemap means it is a market with tight capacity and it is getting tighter. In fact, it is up 18% over the last week.
This is significant enough for a shark to take notice.
The SONAR chart below gives a sense of what is causing this tightening and if it is a strong trend.
The chart is comparing outbound volumes with inbound volumes on the left side. The right side is comparing outbound tender rejections with inbound tender rejections.
From this chart, we can see that inbound loads have dropped 14.2%, while outbound loads have increased 1.7%. A 1.7% increase in volume is nothing to get excited about – unless it is coupled with the double-digit decline in inbound volumes as we see in this market.
The flat curve in inbound rejections is not hurting the situation. An increase in rejections would cause the capacity to tighten much faster; however, a flat rejection rate with declining volumes will also tighten capacity and put upward pressure on rates.
Checking a couple of lanes in Cedar Rapids, we see that it is holding its own against the national average.
Peace and love