SONAR Sightings for Aug. 5: Southern California volumes keep falling; smaller markets still see an increase

The highlights from Friday’s SONAR reports are below. For more information on SONAR — the fastest freight-forecasting platform in the industry — or to request a demo, click here. Also, be sure to check out the latest SONAR update, TRAC — the freshest spot rate data in the industry.

Market watch

Ontario, California

Outbound volumes from Ontario continue to plunge, along with its market share, which is now at 3.65%. Atlanta now leads the nation in outbound tender volume market share, which is more important to the city than trailing the New York Mets by 4.5 games in the National League East. 

Outbound tender volumes in Ontario have tumbled over 12% in August, which has loosened capacity even more as outbound tender rejections have fallen to 3.4%.

Greenville, South Carolina

Lately smaller markets are the place to be for carriers, and Greenville is on that list. Outbound volumes there are up 14% so far this month; meanwhile inbound freight volumes are trending downward, decreasing 4.7%.

The sudden increase in outbound volume is tightening capacity and bringing rejection rates back to life. Since early August, the tender rejection rate has climbed from its lowest point since 2020 to 6.5% (surpassing the national average of 6.3%), and the Headhaul Index has skyrocketed 475% to 27.2.

Allentown, Pennsylvania

In the Northeast, Allentown is on its way up as its neighbor, Harrisburg, Pennsylvania, is trending down.

Allentown’s outbound tenders have increased by 9% in August, while Harrisburg’s at first rose 4% but have dropped 7% in the past couple of days.

However, capacity has tightened in these markets simultaneously. Outbound tender rejections have risen roughly 100 basis points in both markets since Tuesday (Allentown at 8.3% and Harrisburg at 8.7%).

NTI as a point of reference

The National Truckload Index is a daily look at how spot rates in specific lanes hold up in comparison to the national average, giving carriers and brokers an idea of which lanes to gravitate toward or avoid.

Lane to watch: Greenville to Cincinnati

In only one transit day, carriers in this lane can make 14 cents above the national average with a strong chance of booking afterward. Cincinnati has seen a 12% increase in outbound volume so far this month, with rejection rates soaring roughly 250 bps to 7.8%, well above the national average of 6.3%.

Any loads from Cincinnati back to Greenville are paying $3 a mile — 26 cents above the national average. However, these rates have a confidence score of 3 in TRAC, so we are seeing a bit of volatility in what is being paid in the spot market for this lane.

Watch: Carrier update

Source: freightwaves - SONAR Sightings for Aug. 5: Southern California volumes keep falling; smaller markets still see an increase
Editor: Corey Smith