FreightWaves and Tai Integration: Accessing SONAR Data
FreightWaves has partnered with Tai to bring you access to SONAR! If you are an existing SONAR customer with an API subscription to Capacity and/or FreightWaves TRAC data, you can start accessing the data immediately using your current API credentials or token.
To gain access to SONAR data or learn more about FreightWaves TRAC and our capacity datasets, please fill out this form and a member of the FreightWaves team will reach out to assist you.
Understanding FreightWaves’ Capacity Lane Scores
The Capacity Lane Score provides unique insights into capacity trends for specific lanes. This metric helps:
- Brokers maximize margins and transaction efficiency.
- Carriers improve asset utilization.
- Shippers minimize service disruptions and budgetary failures.
The score measures the capacity balance between origin and destination markets by combining tender rejection rates with the market's inbound and outbound load balance. It highlights which lanes are experiencing significant tightening or loosening conditions, helping users lower costs and improve profitability.
Key Details:
- Score Range: 0–100 (Higher scores indicate tight capacity; lower scores indicate loose capacity).
- Trend Indicators:
- Increasing scores signal tightening capacity and upward pressure on spot rates.
- Decreasing scores signal loosening capacity and downward pressure on spot rates.
FreightWaves TRAC Spot Rates
FreightWaves TRAC spot rates are generated daily using data from a consortium of market-leading companies adhering to standardized protocols. This methodology provides insight into freight pricing and negotiation by analyzing rates at the time loads are covered.
The displayed rates include:
- Low (33rd percentile)
- Median
- High (67th percentile)
These rates are updated daily, offering users timely and accurate freight market data.
For any questions or support, contact the FreightWaves team at cs@freightwaves.com.
Setting Up FreightWaves Integration
1. Obtain API Credentials
- Request API credentials (username and password) from FreightWaves.
2. Add a New Integration Source
- Navigate to LSP > Integration Sources.
- Click Add New Integration Source.
- Enter a name for the integration.
- Set the Source Group to Other and the Source Type to FreightWaves.
- Enter the username and password provided by FreightWaves.
- Click Save.
3. (Optional) Add Access Token
If you have been provided an Access Token, follow these steps to add it (note: this is not required):
- Click Edit on the newly created integration.
- In the Source Settings section, add a new setting:
- Name: AccessToken
- Value: Enter the access token provided.
- Click the Add button to save it.
- Click Save to complete the setup.
4. Configure Additional Settings
Depending on the FreightWaves product you want to integrate, you can configure additional settings:
-
For FreightWaves Lane Capacity:
- Add a new source setting:
- Name: LaneCapacity
- Value: true
- Add a new source setting:
-
For FreightWaves TRAC:
- Add a new source setting:
- Name: TRAC
- Value: true
- Add a new source setting:
Note: Both settings can be configured, but FreightWaves Lane Capacity and TRAC data typically require separate licenses or subscriptions. While both datasets are part of FreightWaves SONAR, they serve distinct purposes and are licensed individually.
Once the integration is set up, you can access FreightWaves data by following these steps:
- Navigate to a shipment.
- Click on Tools in the shipment menu bar.
- Select Truckload Quoting.
The FreightWaves data will appear under the Market Intelligence section at the top of the page.
Note: To ensure the Market Intelligence data populates, the shipment must be saved. If you are entering shipment details directly on the Truckload Quoting page, click Save Shipment and refresh the page to display the FreightWaves data.