Chattanooga, Tennessee, USA, May 09, 2022 (GLOBE NEWSWIRE) -- Today, FreightWaves, the Global Leader in Supply Chain Data and Analytics, announced they are launching the FreightWaves National Truckload Indices. The headline benchmark, National Truckload Index (NTI), is a seven (7) day moving average of spot rates that is calculated using the National Truckload Index - Daily that measures the daily U.S. for-hire over-the-road dry van trucking market. The truckload market is the largest mode of transportation in the United States and represents 90% of all trucking freight services. NTI acts as the pulse of the U.S. supply chain and will signal fundamental changes in supply and demand. NTI will provide a new source of insight for the freight industry, as well as non-freight industry participants, such as financial analysts, economists and journalists.
“The FreightWaves National Truckload Index is built on the principles of transparency and reliability, with the goal of providing insight into truckload spot rates at 9am ET daily,” said Craig Fuller, the Founder and CEO of FreightWaves. “We expect that NTI will be the industry benchmark and will ensure that the impact of supply chains on the U.S. and global economy will be better understood, monitored and modeled.”
NTI is constructed in accordance with a methodology and governance structure developed using best practices from the index provider industry. Transportation providers and brokers, who are part of the FreightWaves Trusted Rate Assessment Consortium (TRAC), submit their spot market transactions from the previous day, which are then used in the calculation of the daily NTI. NTI is published daily at 9am ET, with the exception of holidays.
The current report shows the NTI has dropped ~17% since the start of 2022, indicating a significant shift in the balance of supply and demand in the U.S. trucking sector. The NTI includes fuel costs as well, which have increased dramatically during this period.
"The numbers this week show a continuing decline in the market, as increases in shipping supply are confronting a drop in demand as fewer goods are being shipped,” said FreightWaves Director of Freight Market Intelligence, Zach Strickland.
Subscribers to FreightWaves’ SONAR product have access to daily and historic data for National Truckload Indices, as well as thousands of other pieces of data related to the global supply chain. More information on FreightWaves products can be found at freightwaves.com/accounts. More information on NTI can be found here.
About FreightWaves
FreightWaves, with its headquarters in Chattanooga, Tennessee, is the nerve center of the global supply chain, bringing together world-class news, insights and market data. FreightWaves SONAR provides subscribers access to aggregated freight data to monitor domestic and global market activity. FreightWaves’ current and historical data is generated from thousands of exclusive sources representing more than $200 billion of contract and spot freight transactions. FreightWaves.com is the leading global media site for supply chain news and commentary.
Supply chain, logistics, and global operations organizations use FreightWaves’ market data to establish better benchmarks and enhance forecasting.
