Whether you are trying to make chicken salad, reconstitute Shinola, or simply trying to make money in today’s freight market, a bit of alchemy is always helpful.
Or, maybe just some insight into real-time data.
Today, we learn how to take a rate from Philadelphia to Atlanta of $2.39 per mile and turn it into $3.07 per mile.
Note: I am in Philly and want to get to Atlanta for Father’s Day.
The SONAR dashboard above contains a heat map on the left with outbound tender rejection volumes, or OTRI, in color. The darker the shade of blue the tighter the capacity, which leads to upward pressure on spot rates.
The chart on the right is a breakdown of the larger outbound lanes from Philadelphia. A darker shade of green indicates that carriers are rejecting those lanes more often. This means that shippers are having a difficult time covering the loads on those lanes.
It is Thursday as well, so the pressure is on to get loads covered before Father’s Day weekend.
Philadelphia to Atlanta is a brighter red color, which indicates it is loosening, or carriers are accepting loads on this lane. The data tells me the rejection rate has dropped 1.3% overnight as well. There is plenty of downward pressure on rates.
The SONAR Market Dashboard below shows the rate at $2.39, which is well below the national average.
Looking at the right side of the previous chart I notice that the Philadelphia to Pittsburgh lane is green, meaning carriers are rejecting it more often and that there is upward pressure on rates.
Hmmm – is an extra 305 miles worth it? Cruise the Pennsylvania Turnpike and hit I-79 South? Maybe.
Changing the destination on the Market Dashboard below displays a rate of $3.89. Sweet! I like that rate much better.
But, how long will I sit at that stop, and at what rate can I get to Atlanta?
I’m glad you asked!
The SONAR Market Dashboard above is displaying wait times by market on the left side. I see Pittsburgh at 119 minutes.
Just enough time for a sandwich at Primanti Bros. Ever been there? Trust me.
Clicking on the charting icon immediately spawns a timeline chart. Pittsburgh wait times are dropping and they are already well below the national average.
That’s all great, but what is the rate for Atlanta?
How does $2.70 per mile sound?
I have now taken a $2.39 per mile 799-mile run and turned it into a $3.07 per mile 991-mile run three days before Father’s Day.
Get the 16-ounce ribeyes; you just got paid.
Peace and love