Truck brokers

Real, unadjusted jobs in trucking dropped by 21,200 in September, an unusually high number, as contract and spot truckload rates declined.

More shippers are returning to the truckload spot market as rates drop, but experts say they’re using that market more strategically than ever before to reduce transportation costs.

US for-hire truck tonnage jumped 2.8 percent in August from July, according to the American Trucking Associations, as consumers and the US economy remained resilient despite inflation.

Convoy is attempting to differentiate itself within the competitive freight broker landscape by using data gathered from its driver-mandated app to provide more execution-focused visibility insights.

It is “highly probable” US shippers will recover at least some of last year’s truckload rate hikes, as the Cass Freight Index shows a sequential drop in truckload linehaul costs.

Strong trucking demand beyond the truckload spot market is to keep pressure on truck pricing, and will do so into 2023, speakers at a JOC webcast said Wednesday.

Convoy’s counterpunching approach to being sued by load board provider DAT Freight & Analytics is as much about winning the battle of public opinion as it is about winning in court, a transportation attorney told JOC.com.

The US trucking market is reinventing itself after a significant spot market correction, with larger contract carriers expecting steady freight demand through 2022 despite economic fears.

Load board provider DAT and freight broker Convoy have sued one another over Convoy’s development of a product that DAT says is competitive with its own, violating a contract Convoy signed with DAT.

End-to-end visibility of the freight flowing across oceans and moving across the US is the goal of the partnership between Flexport and Nolan Transportation Group, giving shippers more control over modal choices and costs.

Seasonal trends in over-the-road trucking are re-emerging — but not pre-COVID pricing — as the market realigns, truckload carrier executives say.

A 2.4 percent drop in the long-haul truckload producer price index for June shows contract truckload rates are softening, but prices shippers pay for LTL and specialized trucking continue to rise.

The Cass Freight Index shows volatility in shipment volumes, rates, and modal mix with the US economy in a “soft patch” in June.

The US economy likely contracted in the second quarter, but analysts see signs of growing freight activity ahead.

Freight procurement specialist Transporeon has added a freight matching component to its product suite to help brokers tender spot freight to carriers already in their network.

Despite softening spot rates in some modes, overall supply chain costs are rising, with higher interest rates putting more pressure on inventories, according to the CSCMP State of Logistics report.

C.H. Robinson Worldwide says the changing trucking market is driving up demand for automated spot pricing quotes by double-digit percentages.

The cooling of trucking’s transactional spot market signals a “realignment,” not a contraction, as shippers cement contractual agreements and freight demand rises, albeit more slowly.

US Labor Department data that includes contract rates shows no drop in overall truck pricing in April, despite a truckload spot market rate plunge.

Amazon Freight has created its first direct integration with a transportation management system provider, piping its capacity of 40,000 owned trailers and third-party drivers to MercuryGate’s base of shipper users.

Venture capital investors have plunged $410 million into Convoy, as one of the more notable digitally native freight brokers seeks to expand its reach to small truckload carriers and large shippers.

Truckload spot rates have cooled considerably in the last 45 days, but a larger freight recession may not be on the horizon given demand remains strong in other modes of commercial transportation.

Fresh off a seed funding round in February, truckload pricing intelligence provider Greenscreens.ai has built connectivity with procurement technology partners FreightFriend and 3Gtms.

Freight marketplace Emerge has designs on reshaping the truckload procurement space in North America, with an ambitious target of $20 billion in freight spend through its platform this year.

XPO’s intermodal division has been sold to STG Logistics, an LCL provider that primarily transloads international cargo in Los Angeles and Long Beach and uses 53-foot intermodal containers to distribute goods across the US.

Insurance technology provider Loadsure plans to use an $11 million funding round to expand in the US freight market and serve forwarders managing international shipments.

A provider of technology to help brokers understand appropriate spot pricing has nabbed funding from an array of notable investors, including Tiger Global and Cambridge Capital.

Freight brokerage technology vendor Parade has landed a venture capital round to build out its tools to help truckload intermediaries automate the sourcing and management of capacity.

The acquisition of cross-border specialist Forager Group will help multi-modal logistics provider Arrive offer shippers more visibility, connections, and capacity.

Loadsmart is the latest digital intermediary to use SoftBank venture funding to surpass the $1 billion valuation barrier after announcing a $200 million round Tuesday.

Logistics providers are largely embracing a buy-and-build approach to serve their shipper and carrier ecosystems, realizing that internal development resources aren’t usually enough to cater for all their software needs.

Convoy’s recent foray into developing technology for use by other brokers hints at a future where freight procurement is centered around platforms where companies complement and compete with one another.

Redwood CEO Mark Yeager said the company’s acquisition by a new private equity firm gives the Chicago-based 3PL ammunition to compete in a market that has seen “dramatic consolidation” in 2021.

Venture capital firms have boosted the coffers of two startups aiming to empower the domestic and cross-border trucking industry in Mexico as investment into logistics technology providers continues.

The Biden administration’s COVID-19 vaccination and testing mandate for large employers will affect truck capacity and pricing, but questions about the extent of its impact remain.

A survey of independent truckers and small trucking firms by Truckstop.com and Bloomberg Intelligence found them optimistic about the potential for higher contract and spot rates next year.

Trucking companies are seeking an exemption to the COVID-19 vaccine mandate being implemented by the US government for large employers, which they say would further disrupt already tight US trucking capacity.

C.H. Robinson Worldwide is linking its less-than-truckload carrier network to the retail platform offered by SPS Commerce to help shippers get retail goods onto shelves and avoid holiday stockouts.

Choptank expands Hub Group’s refrigerated brokerage business as US shippers demand greater access to transportation capacity across modes and sectors.

project44 is moving beyond freight visibility into booking through a new product that uses carrier location data to identify when truckload capacity is soon to be available for freight brokers to book.