The bulk freight transport ecosystem is one of the most fragmented segments within the shipping industry and is over-reliant on its manual workflows. Roger, a trucking technology company, seeks to change the norm via digital tools for shippers and carriers in the dry bulk truck freight industry. Roger’s platform reduces paperwork and accelerates payment processes for carriers, apart from providing real-time access to freight movement.
“Roger’s technology helps carriers unlock the power of their bulk freight carrier network. It streamlines communications and reduces all the paperwork between bulk shippers and bulk haulers,” said Jeff Schreiner, the CEO of Roger. “There is a ton of lost productivity because processes haven’t changed in a long time. Roger is bringing digital business strategies to the dry bulk market.”
Schreiner explained that although trucking technology has made significant advances over the years, bulk freight shipping processes have remained outdated and inconsistent compared to the rest of the industry. “Working with this team allowed us to build technology that can be used across the entire industry, giving trucking companies the ability to digitally track each interaction throughout a haul and then electronically request payment,” he said.
One of the early responses that Schreiner heard from carriers was that digitalization seemed fine if they work with a single shipper, but would be a strain to work with multiple shippers simultaneously. This led Roger to solve this problem, not from the carriers’ perspective, but by looking at the industry at-large.
“In bulk hauling, fragmentation has led to a scenario in which most companies have around two to five trucks and are small carriers. Technologies currently in the market look at big bulk freight companies but do not focus on these small haulers,” said Schreiner.
Roger employees received insights from its carriers on how they would prefer to work on a platform and the kind of solution they would want as part of their operations. Schreiner contended that carriers and independent truckers played a vital role in shaping Roger. For instance, Roger understood the paperwork complexities around moving bulk freight and getting paid. This led the startup to digitalize the process, making it more transparent and efficient.
Roger’s dashboard comes with various features, including paperless ticket capture, real-time shipment status, and fast digital payment processing. The company has also integrated with major industry ERP providers, allowing seamless data integration for users.
“We want to ensure that the platform remains neutral so that everyone shares the benefit of the system. Neutrality will be a key portion, and ensuring that the data is only shared and protected for those involved in the freight movement is crucial,” said Schreiner.
Roger’s digital freight marketplace allows bulk carriers to find and book loads while also identifying backhaul opportunities that minimize deadhead hauls.
Roger has partnered with giant shippers like The Andersons, Cargill, Consolidated Grain and Barge, Koch Fertilizer, The Scoular Company and Bushel. Schreiner explained that these companies represented most of the loads available on the platform, totaling over 1 million loads annually through their networks.
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Aggressive options traders might wait for a catalyst before resuming heavy buying in popular Tech names. Many of them are at or near all time highs at a time of great uncertainty. COVID cases are up and I can’t imagine the Federal Government continuing to pump money into propping the market up. Unemployment Insurance will certainly be reduced and very soon eliminated. Home builders are doing well with stocks like DHI, LEN, & TOL continuing to go up. Another area to pay attention to is Tanker stock. Last qtr. was profitable across the board and this qtr. should be better. Many of these companies are finally able to eliminate some LT debt. Dividends should be increasing in the near term. The sector seems to be largely ignored at the moment which given the current landscape in the markets is surprising. In Fall of 2018, a combination of good small caps and outliers like shipping allowed my holdings to increase by 7% which was far better than the market as a whole. With investments spread around a group of well managed, dividend paying small caps, one might be able to outperform between now and the election. I’m guessing we will see the market move quickly after we know which candidate will be at the charge. Personally, I expect the market to soar with a re-election or plummet if we return to tax increases and outrageous intervention. We really don’t know for sure who Biden’s puppet masters will be. We can be certain that they’ll resume business killing policies of the administration of old. Of the Tanker stocks remember that LPG, liquified petroleum, has increased in popularity and there aren’t as many companies with LPG carriers. I like TGP as they have 23 large Tankers, all modern ships that have many years of activity left. As for crude Tankers, DHT is to cheap which may be a warning signal. NAT, FRO, EURN should all report FCF and increasing dividends.