GOOD NEWS: THE FREIGHT MARKET IS ABOUT TO TURN UP
Freight market forecasting is a tricky game these days. Historical freight market data models provide good reference points, but because of the unprecedented nature of COVID-19 (a classic example of a black swan event), we have to rely on current data to understand what is taking place in the freight market. The good news is that this is the very data that SONAR has been building for the past two years.
SONAR’s data comes from a number of disparate sources, but most importantly, electronic tenders. A tender is essentially a request for a truck, sent from a shipper to a trucking company. Tenders are transmitted over EDI or API and are the preferred method in the contract freight market.