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

06 May 2021
Perishable shippers seeking to wean themselves off a reliance on brokers have a new venture-backed platform that connects them directly with a network of pre-vetted reefer carriers.
28 Apr 2021
Freight broker and forwarder C.H. Robinson is growing LTL volume "faster than the marketplace” as US shippers scramble to find available capacity for shipments.
23 Apr 2021
Third-party logistics and software firms such as C.H. Robinson Worldwide and Blume Global are broadening the use of technology to drive emissions out of supply chains, increasingly for smaller customers as well as global corporations.
21 Apr 2021
The 50 largest US trucking operators increased combined revenue 7.4 percent in a recession as consumers drove frenzied freight demand.
20 Apr 2021
Unadjusted US tonnage data from the American Trucking Associations shows freight returned to the highways after a frozen February, propelling truck spot pricing to a new ceiling.
15 Apr 2021
Torch Logistics will use $3.5 million in seed funding to expand its short-haul truckload brokerage to capitalize on e-commerce demand.
13 Apr 2021
Factoring solutions provider and lender eCapital saw an uptick in revenue in 2020 and is now merging its acquisitions under a single brand as it sees consolidation taking root in the logistics financial services space.
07 Apr 2021
Funding for cross-border technology startup Nuvocargo continues a trend of investment into companies targeting the disjointed processes associated with US-Mexico logistics and transportation.
05 Apr 2021
Third-party logistics industry had a banner 2020, with double-digit revenue growth, according to SJ Consulting.
23 Mar 2021
A veteran of freight broker GlobalTranz has landed an $8 million funding round to enhance a multi-carrier marketplace and transportation management system for less-than-truckload shippers.
16 Mar 2021
Modal-switching technology tested by MIT and broker GlobalTranz is showing that shippers can save costs by grouping less-than-truckload linehaul freight to multi-stop truckloads.
16 Feb 2021
Cross-border carriers lack a load board analogous to the widely-used tools available to drivers on US domestic moves, something the broker and technology provider Forager is attempting to address.
10 Feb 2021
Investment continues to surge into technologies that enable small truckload carriers to improve administrative and operational aspects of their businesses, with SmartHop’s $12 million funding round the latest example.
Transplace urges shippers to actively manage routing guides and optimize networks now, rather than attempt to “time the market.” Photo credit: Shutterstock.com.
03 Feb 2021
Fewer trucking companies are responding to shipper bids, as contract truckload pricing rises by high single-digit percentage rates, Transplace executives said Tuesday.
02 Feb 2021
A significant number of truckload shippers delayed annual bids with the largest US truck freight broker in the fourth quarter to avoid spiking contract rates.
01 Feb 2021
Software providers say the proliferation of integrations between transportation management systems and domestic freight brokers in 2020 hints at a future in which a TMS will no longer be merely a static system, but a living platform.
26 Jan 2021
Additional acquisitions will fuel growth for both XPO’s transportation and contract logistics businesses, soon to be separate companies, chairman and CEO Bradley S. Jacobs said.
14 Jan 2021
European truckload broker sennder has vaulted into the upper reaches of venture capital-based logistics startups with a $160 million funding round and a $1 billion valuation.
22 Dec 2020
The integration between AscendTMS’s widely-used transportation management software with predictive pricing and historical benchmark trucking data from DAT Solutions is a signal that users of such systems want more value piped directly into the platforms on which they rely.
17 Dec 2020
The truck driver turnover rate is rising at truckload carriers as they compete for employees; that is spurring a new round of pay hikes for drivers.
17 Dec 2020
Convoy is integrating with AscendTMS, another sign of the importance of enabling small truckload carriers with software to manage driver dispatch and scheduling, which helps give shippers electronic access to more capacity.
11 Dec 2020
A technology-based freight broker has spun out its technology as a standalone transportation management system (TMS), signaling the need to better connect small carriers to surface capacity for shippers.
10 Dec 2020
Interest in drop-and-hook programs continues to grow, with the broker Transfix now offering an “asset-like” service that it says it uses technology to find the right capacity for its shipper customers.
07 Dec 2020
A tighter focus on transportation and technology following a corporate split will improve the service and experience XPO offers to shippers globally, the company and transportation analysts say
04 Dec 2020
Although trucking employment is rising, the year-over-year gap is still large enough to throttle back capacity and keep pricing pressure on shippers.
02 Dec 2020
XPO Logistics will be spun off into two separate businesses, one solely focused on US transportation and the other focusing on US and European contract logistics.
02 Dec 2020
Freight broker Transfix will integrate predictive visibility data from project44 to augment its existing app-based GPS location data as part of a long-term agreement with the multimodal visibility provider.
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.