Trucking Freight Brokers

Trucking Freight Brokers

Timely news, data and market analysis of transportation brokers, freight brokerage and truck freight companies. Trucks move nearly three-quarters of all domestic freight tonnage and generate nearly four-fifths of the nation’s freight bill, according to recent 2018 survey by the American Trucking Associations (ATA), the trucking sector handles nearly 70 percent of all trade between the US and Mexico, and nearly sixty percent of all US-Canada trade. Although the trucking sector is highly fragmented, the largest trucking companies in North America have increased their collective market share, year to year and decade to decade. From 2009 to 2018, the 50 largest trucking companies boosted their share of the for-hire trucking market from 27 percent to 38 percent.

Commentary

Because “hedonic,” supply-and-demand-based pricing leads to bigger swings in trucking rates, accounting for both costs and market sentiment data could smooth the market’s inherent peaks and valleys.

News & Analysis

20 Nov 2020
Loadsmart more than tripled the amount of capital raised through a $90 million round announced Friday as it seeks to automate the brokerage and optimization of US domestic transport modes.
19 Nov 2020
Convoy has seen considerable volume growth for a program under which loads are pre-staged for drivers, prompting the freight broker to develop more predictive capability to route empty equipment to shippers’ facilities.
17 Nov 2020
Shippers will need to look not just at multiple transportation modes, but across modes, to secure capacity in 2021, digital broker Loadsmart said.
05 Nov 2020
Rebid freight now or wait for what may be a calmer first quarter? That’s the question US truck shippers face, Echo Global Logistics chairman and CEO Doug Waggoner says.
22 Oct 2020
Freight brokerage software provider Parade has set up direct integration with two companies that focus on digitally enabling small carriers, which gives brokers using Parade access to that capacity.
21 Oct 2020
Margin transparency is taking root among early-stage freight brokers, with cross-border 3PL Forager saying Wednesday it will provide clear pricing and service fees on any quote provided on its platform.
14 Oct 2020
The long run-up in spot market truckload rates and truck freight demand may be reaching its peak, but don’t expect a quick descent, speakers at the Transplace Shipper Symposium said Wednesday.
09 Oct 2020
Shippers are modifying their approach to truckload contracting, using more short-term “mini-bids” than ever before and turning to technology to improve a process that often breaks down when market prices swing quickly.
07 Oct 2020
Logistics executives do not expect spot truckload rates to soar much higher, but they do not think they will drop either, forcing shippers to collaborate more.
06 Oct 2020
The freight broker Transfix is providing small carriers with free standalone operational technology to align their capacity availability with needs from the company’s shipper customers.
02 Oct 2020
A private equity group has plunged $500 million into Uber Freight, signaling that longer-term investors believe the business model of digital freight matching will gain traction in the years ahead.
01 Oct 2020
The new rate differential tracked by DAT chief scientist Chris Caplice is rising at a faster pace, a sign that shippers will see a greater increase in truckload contract rates.
30 Sep 2020
Shippers moving to mini-bids as truck capacity tightens need more detailed and near-real-time data to match freight lanes and tractor-trailers.
25 Sep 2020
Criticism of the truckload broker Convoy for using venture capital to expand its market share reached a fever pitch this week based on a new offering that helps shippers sidestep the annual bid process, a product incumbent brokers claim is not as innovative as Convoy suggests.
24 Sep 2020
US shippers are returning to the ‘shipper of choice’ model as a peak season unlike any other looms ahead, trucking executives told the virtual CSCMP 2020 Edge conference this week.
22 Sep 2020
A new service from C.H. Robinson could replace the annual truckload bidding process with a more dynamic approach to procuring trucks and increasing savings across networks of freight lanes.
18 Sep 2020
Shippers using third-party vendors to help them manage auditing and paying their freight bills see a sizable advantage in process costs versus those that manage the function in-house, new research has found.
17 Sep 2020
Convoy is providing shippers an avenue to avoid what it considers unnecessary procurement costs associated with negotiating annual truckload bids that aren’t generally honored by either the shipper or carrier.
15 Sep 2020
By acquiring a Chicago-based logistics provider and freight broker from R.R. Donnelley, Canada’s TFI plans to better integrate and scale US operations in freight and e-commerce.
08 Sep 2020
Uber Freight on Tuesday said it is providing large shippers with tools meant to complement their existing transportation management systems (TMSs), products that might signal an evolution from broker to software provider.
03 Sep 2020
The flood of imports to Los Angeles and Long Beach this summer is squeezing truckload and LTL capacity on inland truck routes, more than doubling spot rates to Chicago, as intermodal capacity and e-commerce deadlines remain tight.
27 Aug 2020
Shippers need quicker access to carrier, rate information as lanes, customers, and pricing shift under COVID-19, C.H. Robinson says.
11 Aug 2020
With volume returning, less-than-truckload operators are putting more pressure on shippers to raise rates.
04 Aug 2020
Uber Freight and CH Robinson announced links with accounting and ad hoc project software providers, a sign they need to extend their range of services to reach pools of small shippers.
04 Aug 2020
A tech-enabled cross-border truckload marketplace is giving shippers access to instantly bookable contract rates for up to a year as it seeks to build density with enterprise customers.
30 Jul 2020
Amid reports of tightening LTL capacity, ODFL, ArcBest’s ABF Freight, and XPO look to put more distance between their businesses and April’s steep decline in volume.
21 Jul 2020
A Miami startup intends to create a software platform that levels the playing field for small truckload carriers by giving them a backbone system that also makes their interactions with brokers more consistent.
15 Jul 2020
Freight broker Convoy has enabled small carriers to bid for long-term dedicated freight contracts, expanding the pool of carriers shippers can access to secure such capacity.
14 Jul 2020
Microsoft continues to build on its position as a provider of web services to the logistics industry via an expanded relationship with C.H. Robinson, North America’s largest freight broker.
09 Jul 2020
US Payroll Protection Program loans, once forgiven, will give small trucking outfits a chance to invest in much-needed technology, a tax and accounting advisory firm says.
09 Jul 2020
Uber Freight has expanded its network of transportation management system integrations by piping its instantly available capacity into the Blue Yonder freight execution system.
07 Jul 2020
A large chunk of the US trucking sector is riding on Payroll Protection Program loans, which likely averted a capacity crunch in June and may still be shielding shippers this fall.
04 Jun 2020
Werner is the latest broker to use software from Trucker Tools to tap into the app provider’s reach into the North American small carrier and independent driver population.
04 Jun 2020
Lower fuel prices are helping small trucking businesses survive the worst economy since the 1930s, according to Donald Broughton, which means shippers may find more truck capacity and less pricing pressure than expected this fall.
02 Jun 2020
The acquisition of ScanData gives Transplace broader supply chain reach as the COVID-19 pandemic accelerates e-commerce demand.