The SONAR platform provides a range of features and valuable data that can help brokers navigate the often unpredictable truckload market. It includes exclusive datasets like bid rejections and trade volumes, which assist users in recognizing shifts in the market and understanding the broader implications beyond just trading actions. SONAR is backed by the Trusted Rate Assessment Consortium (TRAC) along with billing data from Cass.
Users can engage with SONAR in two main ways: they can either input their own tickers into customizable dashboards or utilize the pre-made dashboards available on the platform. One of its standout qualities is its breadth and depth—these dashboards are a practical starting point to familiarize oneself with the available resources.
The dashboard focused on Truckload National Insights is particularly useful for brokers as it outlines key areas requiring attention. It provides a concise overview of what SONAR’s data reveals about the domestic truckload landscape. At the top, capacity and demand metrics based on bid data are prominently displayed to signal critical market changes. Below this, a summarized bullet-point list gives actionable insights, detailing the current market situation and indicating priority areas.
In the Insights section, national spot and contract rate indicators offer a clear perspective on both short- and long-term interest rate trends. Accompanying this are lists of the top ten markets that have experienced significant changes in volume or spot rates over the past week. By clicking on any market in that list, users can access a more detailed examination of the corresponding situation.
Further down, a heat map visually represents significant variations in spot rates across different markets, allowing for easy switching between various indicators to track trends like the National Truckload Index (NTI) and Outbound Bid Rejection Index (OTRI).
Once users have grasped the overall market dynamics and pinpointed focus areas, they can proceed to the next step: rates and negotiations, facilitated by the broker toolkit.
This toolkit comprises three main applications:
1. Rate Intelligence (including Batch Rate Intelligence)
2. Coverage Guide
3. Sales Information
Each tool serves distinct functions. The Rate Intelligence tool assists brokers in quoting both spot and long-term managed freight. The Coverage Guide helps with lane prioritization and estimated speeds, while Sales Information reveals where significant opportunities lie for attracting new customers throughout the U.S.
In Rate Intelligence, users input origin and destination pairs to see both spot (buy-side) and contract rates, accompanied by contextual data. Each rate features a confidence score, representing data reliability. If specific lanes lack sufficient activity, SONAR will estimate rates from nearby markets, adhering to a 5/25 rule—ensuring a minimum of five contributors per lane, with no single contributor dominating the rate weight.
The broker guidance transforms the underlying data into practical insights. The lane score indicates the difficulty of covering lanes based on the freight balance between origin and destination markets. For instance, a lane moving from outbound-heavy to inbound-heavy may show a lower score, signaling higher sourcing challenges.
Batch Rate Intelligence is especially beneficial for brokers managing multiple lanes, allowing them to upload a list of lanes for quick access to spot and contract rates alongside contextual data tailored for long-term pricing.
The Coverage Guide is a sourcing tool that aids brokers in swiftly identifying shipments that require immediate actions while allowing for focus on longer-term signals. It offers spot rate data, with directional indicators and a sortable difficulty column for prioritizing tougher lanes.
Sales Information prominently features a heat map displaying markets facing the most significant service interruptions. Clicking on any specific market reveals lanes with better margin opportunities, based on disruption levels and coverage difficulties, serving as a reference to help brokers navigate their daily freight responsibilities effectively. This content highlights how SONAR can equip brokers to tackle capacity challenges effectively.
