SONAR tender rejection index hits 14.17% in mid-October

FreightWaves reports its SONAR Tender Rejection Index reached 14.17% in the latest week of mid-October, a level the outlet describes as unusual for that point in the season. In a SONAR Market Update carried by FreightWaves, analyst Zach Strickland said the rise is not matched by a jump in the SONAR Tender Volume Index, which the piece reads as evidence of a truckload capacity shortfall rather than a demand surge.

FreightWaves also says its weighted rejection readings are elevated at once across markets that include Atlanta, Des Moines, El Paso, Green Bay, Harrisburg, Knoxville, Los Angeles, Memphis, and Ontario in California. The report highlights Columbus, Harrisburg, and Atlanta as distribution hubs seeing unusual pressure, and puts the Los Angeles van rejection increase at 1.87 percentage points, linking West Coast strain partly to September import volumes through the Port of Los Angeles.