The world of transportation, logistics, and supply chain management is extremely complex, with many moving pieces that interact with and affect each other to one degree or another. From truckers and ocean freight to 3PLs, forwarders, distributors, and suppliers, each player contributes to the constant movement of goods that keep commerce humming.
Depending on whether your business is domestic or global, you need to stay on top of industry trends (technology and innovation, forecasts, market leader moves, etc.) and the macro picture (economics, regulations, labor, etc.). Being well-informed on these topics is critical to effectively navigating the logistics landscape and executing your operational strategy.
There is a wealth of resources available to help shippers stay informed on the latest trends, including top freight indices, trade shows and associations, industry publications, analyst firms, and service providers. All of these can be leveraged to help you gain insights that can feed into your analysis and planning process. We’ll look at a number of them and detail the advantages they bring.
Freight Indices: Understanding Market Trends
Freight indices are a great source of market intelligence, providing a snapshot view of key indicators such as freight rates, inventory levels, and cargo volumes. Here are a few you should become familiar with.
Cass Freight Index (CASS)
This index measures the number of shipments and dollar value of expenditures across various modes of transportation. It is a trusted indicator of shipping activity and freight volumes in the United States. Shippers can use it to monitor trends in North American shipping activity and use the insights to decide when to increase or decrease volume.
Baltic Dry Index (BDI)
This is a critical indicator that tracks the shipping prices of major raw materials by ocean freight. It measures demand vs. supply of shipping capacity and is a leading economic indicator as it predicts future activity. It provides insight into global supply and demand for bulk commodities, helping shippers determine when to charter vessels based on prevailing rate trends.
Logistics Managers’ Index (LMI)
This newer index measures activity across various facets of the logistics industry, including inventory levels, warehousing capacity, and transportation pricing. A joint venture between academics and the Council of Supply Chain Management Professionals (CSCMP), the LMI provides a comprehensive view of the health of the logistics sector. It helps shippers anticipate cost changes and adjust their strategy accordingly, by tracking industry-wide logistics activity.
Freight Transportation Services Index (TSI)
Compiled by the U.S. Department of Transportation and put out by the Federal Reserve Bank of St. Louis, this index measures the volume of freight carried by the transportation sector. It covers the monthly changes in freight shipments as sensed by freight movement in rail, trucking, inland waterways, pipelines, and air freight. Shippers can gauge trends in overall freight movement to drive strategic planning around transportation capacity and demand fluctuations.
Freightos Baltic Index (FBX)
Similar to the BDI, this index is put together by freight booking and payments platform Freightos and the Baltic Index. It measures global container freight rates by calculating spot rates for 40-foot containers on 12 global trade lanes. FBX insights into global container freight rates help shippers negotiate better terms and timing for container shipping based on real-time pricing trends.
Dow Jones Transportation Average (DJTA)
This is one of the oldest U.S. stock indices, comprising 20 transportation companies, including railroads, trucking companies, and airlines. It is considered a good barometer for the broader economy, using the transportation sector’s performance as a reliable proxy. The DJTA helps shippers assess the health of the transportation sector, as they make decisions on carrier selection and timing.
Harper Petersen Charter Rates Index (HARPEX)
This index tracks container ship charter rates and is often used as a proxy for the health of global trade and shipping activities. Developed in 2004, it reflects worldwide charter price development for container ships for 6 and 12-month periods, based on weekly pricing. Shippers use it to track container ship charter rates, again as a leverage tool in negotiations and to time spending based on rate movements.
Trade Shows: Networking and Learning Opportunities
There are a number of valuable industry conferences and expos where attendees have the opportunity to hear from experts on trends and innovations, network with their peers, and kick the tires on the latest products, technologies, and services. Here are some good ones for the remainder of this year and into 2025:
- Gartner Supply Chain Symposium (May 2024, various locations) – This conference from one of the top research and consulting firms provides strategic advice from analysts on ways to navigate global supply chain challenges and technology/ innovations. It’s held in May at various locations.
- WERC (June 2-5, 2024, Dallas) – This event put on by the Warehousing Education and Research Council concentrates on warehousing and distribution management. Sessions cover operational efficiency and technology adoption in warehousing.
- Parcel Forum (Sept. 16-18, 2024, Grapevine, Texas) – Tailored for parcel shippers, this event covers the latest trends and technologies in shipping, delivery, and last-mile logistics. Its mission is to show “small-package supply chain professionals how to ship more packages, more efficiently and more cost-effectively.”
- CSCMP Edge (Sept. 29-Oct. 2, 2024, Nashville) – This event offers professional development, research presentations, workshops, an expo, and networking opportunities focused on logistics and supply chain trends.
- NRF Big Show (Jan. 12-14, 2025, New York) – The National Retail Federation kicks off the new year with its annual Big Show, with tens of thousands of attendees there to learn about trends, case studies, technologies, and retail innovation. In recent years, NRF has expanded its focus on logistics and supply chain, an emphasis reflected on the program and expo floor.
- Manifest (Feb.10-12, 2025, Las Vegas) – A newer show that has burst on the scene, Manifest covers the future of supply chain and logistics. It brings innovators and practitioners together to discuss emerging technologies and their impact on shipping and logistics. Some key topics in 2024: leadership skills, employee retention, and AI and machine learning.
- Link: RILA Retail Supply Chain (Feb. 16-19, 2025, Orlando) – A members-only event from the Retail Industry Leaders Association, RILA focuses on advances in retail supply chain technology, arming attendees with strategies to optimize and innovate. Disruption, sustainability, and visibility were important themes in 2024.
- MODEX and Promat 2025 (March 17-20, 2025, Chicago) – These large shows from the Material Handling Institute (MHI) alternate each year, covering manufacturing and supply chain solutions, featuring the latest equipment and technology, with a heavy emphasis on automation and robotics.
Freight Industry Expertise Supports Continuous Learning
Top trade publications are another great source of information on the latest trends, innovations, and technology, including analysis, research, and insights from industry leaders. Here are a few to consider adding to your media diet:
- FreightWaves: FreightWaves provides news, analysis, and proprietary research and forecasts through its SONAR database. It covers the waterfront of logistics and supply chain, from ocean and air freight to trucking, last-mile delivery and warehousing.
- The Journal of Commerce (subscription required): If you pay close attention in the movie “Lincoln,” you’ll catch a reference to this trade publication, which launched in 1827. Its coverage includes international logistics, cargo and freight transportation, export/import, trade and customs, and international supply chain management.
- The “Dives” (Retail Dive, Supply Chain Dive, Trucking Dive): These publications from the Industry Dive stable do an excellent job keeping up with trends and happenings in their respective sectors, often breaking stories ahead of their peers.
- The American Journal of Transportation: AJT covers international and domestic transportation and logistics, including maritime, air cargo, rail, and trucking sectors, emphasizing news, trends, and policy developments affecting the industry.
- SupplyChainBrain: This publication covers all aspects of supply chain principles and practices, identifying emerging trends, strategies, best practices, and innovations. It offers insights into logistics, procurement, warehousing, and technology innovations.
- The Collaborative Logistics Newsletter: This monthly news digest from leading logistics services provider COGISTICS Transportation, provides a roundup of industry happenings, with insights and analysis that provide important context into why they matter. Recent issues have covered the ongoing Red Sea crisis, the impact of the Baltimore bridge collapse, and a rise in the global container inventory.
Helping You Make Sense of a Complex Industry
Yes, there’s a lot to keep on top of in logistics and supply chain, but fortunately, it’s an industry that’s rich in resources. From indices providing real-time data on shipping rates and volumes to peer-led events and publications that keep you informed, there’s a wealth of information at your disposal.
COGISTICS Transportation has provided a complete logistics solution offering reliable, efficient service across land, sea, and air for more than 30 years. More importantly, our team is staffed with individuals with a proven track record of hands-on logistics expertise. They bring these skills, insights, and lessons learned to every client engagement, delivering consistent excellence and performance. Contact us today to learn more.
