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

21 Sep 2022
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.
19 Sep 2022
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.
30 Aug 2022
The incoming CEO of XPO Logistics is intent on adding capacity in the form of terminals, trailers, and drivers to meet long-term demand for less-than-truckload services.
16 Aug 2022
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.
11 Aug 2022
Some of the largest US less-than-truckload carriers, including FedEx Freight, are adding terminals and doors to their networks as LTL freight demand defies the threat of economic recession.
10 Aug 2022
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.
08 Aug 2022
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.
02 Aug 2022
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.
01 Aug 2022
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.
28 Jul 2022
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.
26 Jul 2022
Seasonal trends in over-the-road trucking are re-emerging — but not pre-COVID pricing — as the market realigns, truckload carrier executives say.
15 Jul 2022
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.
14 Jul 2022
The Cass Freight Index shows volatility in shipment volumes, rates, and modal mix with the US economy in a “soft patch” in June.
12 Jul 2022
The US economy likely contracted in the second quarter, but analysts see signs of growing freight activity ahead.
23 Jun 2022
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.
22 Jun 2022
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.
17 Jun 2022
C.H. Robinson Worldwide says the changing trucking market is driving up demand for automated spot pricing quotes by double-digit percentages.
07 Jun 2022
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.
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.