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

23 May 2022
US Labor Department data that includes contract rates shows no drop in overall truck pricing in April, despite a truckload spot market rate plunge.
12 May 2022
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.
11 May 2022
Demand for LTL capacity is rising even faster than carriers can add terminals and doors, pushing rates higher still.
21 Apr 2022
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.
18 Apr 2022
Recent gains in manufacturing activity, including consumer goods production, suggest continued expansion of US freight demand while dampening worries about retail spending.
15 Apr 2022
Trucking revenue broke records in 2021, riding on a wave of mergers and acquisitions as well as swelling rates and unrelenting demand, and analysts forecast that 2022 will continue the positive trend.
14 Apr 2022
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.
06 Apr 2022
Fresh off a seed funding round in February, truckload pricing intelligence provider Greenscreens.ai has built connectivity with procurement technology partners FreightFriend and 3Gtms.
04 Apr 2022
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.
25 Mar 2022
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.
10 Mar 2022
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.
08 Mar 2022
Combined revenues among the 25 largest US LTL trucking companies jumped more than 20 percent in 2021, and the market conditions that allowed for that record-setting revenue growth remain firmly in place in early 2022.
23 Feb 2022
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.
09 Feb 2022
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.
01 Feb 2022
The acquisition of cross-border specialist Forager Group will help multi-modal logistics provider Arrive offer shippers more visibility, connections, and capacity.
01 Feb 2022
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.
18 Jan 2022
XPO is adding new facilities and technology to its less-than-truckload network, reducing reliance on third parties.
11 Jan 2022
E-commerce demand, inventory restocking, and increased manufacturing output will keep LTL carriers in flux and LTL pricing high in 2022.
03 Jan 2022
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.
16 Dec 2021
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.
14 Dec 2021
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.
13 Dec 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.
05 Nov 2021
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.
04 Nov 2021
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.
02 Nov 2021
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.
22 Oct 2021
International air freight and last-mile delivery saw the fastest revenue growth in the transportation sector last year, while industrial transportation suffered.
21 Oct 2021
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.
19 Oct 2021
Choptank expands Hub Group’s refrigerated brokerage business as US shippers demand greater access to transportation capacity across modes and sectors.
14 Oct 2021
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.
14 Oct 2021
Vendorflow, a new platform to harmonize communications between logistics providers and the carriers they use, has secured funding from a range of venture capital investors with previous logistics expertise.
12 Oct 2021
The third-party logistics market is being reshaped in a crucible of ongoing supply chain disruption and technology, Transplace CEO Frank McGuigan told the JOC Inland Distribution webcast.
06 Oct 2021
The backlog of freight in Southern California is forcing more shippers to the truckload spot market as they search for any available capacity to speed goods inland.
05 Oct 2021
Recent merger and acquisition activity, such as the ArcBest-Molo deal, proves many investors believe opportunity lies in third-party logistics providers.
05 Oct 2021
A Chicago-based trucking platform focused on cross-border freight has launched a contract board for small carriers to find repetitive, complementary loads from large shippers.
29 Sep 2021
The $235 million acquisition of MoLo Solutions will double ArcBest’s available capacity and reflects an industrywide drive to access capacity across modes and networks.