Freight Brokerage

Another fast-growth brokerage in Freight Alley pops up.

GlobalTranz more than doubled EBITDA in less than a year.

Circle 8 is GlobalTranz’s ninth acquisition since January 2017.

Scott Hagen, the Corporate Controller, will be the interim CFO, and Robinson Fresh will be lumped in with ‘Other’ services in CHRW’s financial reporting.

Port container volumes, railroad volumes, and truckload volumes are all down year-over-year.

The feature is intended to save carriers time and money that they would spend searching for and booking loads.

The succession makes perfect sense and is a step in the right direction.

High-growth business models make sourcing talent even more difficult for freight brokerages.

Valuations will stay high and capital is readily accessible, bringing both sellers and buyers to market.

We checked in with executives from Edge Logistics, Avenger Logistics, and Convoy to see how brokers are handling YOY volume growth.

A healthy month-end volume uptick hasn’t tightened capacity, allowing brokers to stay in their happy place.

Small brokerages are confident they can grow quickly in a softening freight environment and trend-line GDP growth.

The boundary between spot and contract pricing is always shifting, especially when freight markets are volatile.

The largest Canadian freight brokerage purchased a 3PL concentrated in the Southeastern United States.

Convoy CEO Dan Lewis said that digital brokerage margins would expand until most participants adopted low-cost structure, then start compressing.

Today’s selloff on soft revenue growth guidance went too far, according to Stifel’s Bruce Chan and Susquehanna’s Bascome Majors.

After a day of choppy trading, a consensus seemed to emerge that CHRW was well-positioned to grow net revenues even in a re-balancing freight market.

CHRW grew earnings per share by 24%, top line revenue by 4.5%; and net revenues by 13%.

Spot-heavy 3PLs are looking for freight while brokers with good contract relationships are getting rewarded.

The combined brokerage expects to do $200 million in revenue this year.

Capacity is as loose as ever, but some freight brokerages told us they don’t trust the market to stay cool.

Shippers aren’t shy about moving contract rates down in RFP negotiations, and even brokers are surprised at how cheap capacity has become.

Asset-based carriers think contract rates are going up; brokers think they’re going down.

We spoke to brokers from Avenger, Axle, LYNC, Redwood, MoLo, and K & L about their hopes and fears for January freight.

Morgan Stanley likes asset-based carriers while Stifel is bullish on 3PLs, and the banks don’t agree on what the business risks to C.H. Robinson are.

Forager is building a digital freight marketplace to automate elements of cross-border logistics.

Andrew Silver, CEO of MoLo Solutions, looked back at 2018 and talked about the challenges and joys of running a high-growth brokerage, December freight markets, and and MoLo’s plan for 2019.

We spoke to executives from Trident, Avenger, Redwood, and Echo about the challenges and opportunities of the Memphis freight market, long dominated by asset-based carriers.

Russel Jones, CEO of Cargo Chief, demonstrates C4 platform at MarketWaves 18: automated load-matching technology that levels the playing field among freight brokerages.

Cowen expects softening trucking prices in 2019 to be a headwind for truckload carrier earnings, but should widen gross margins for freight brokerages.

Trucker Tools CEO Prasad Gollapalli discussed his company’s Smart Capacity product with users; the platform is designed to make freight brokers more efficient and profitable.

Brokers at Arrive, Trident, and Avenger told us that capacity is flowing into Southeast markets, pushing down rates in that region, while the PNW and Midwest have tightened up significantly.

On Tuesday afternoon, Arrive Logistics popped champagne as the freight brokerage officially opened its downtown Chattanooga office on Market Street. We spoke to Arrive executives about the company’s culture, growth story, and plans for Chattanooga.

Lync Logistics, a young freight brokerage based in Chattanooga, cut the ribbon on its new headquarters last Friday afternoon and shared its aggressive growth plans with FreightWaves.

Trident Transport, a four year old freight brokerage founded in Chattanooga, has announced its plans to open a second office in Tampa Bay, Florida. Russ Feldhacker, a veteran broker, will lead the new branch.

We spoke to Dave Dallas, CMO and President of Brokerage at SunteckTTS, about the addition of a brokerage centered on the West Coast.

Capacity creator, waterfall tendering, and max buys based on near-time market rates should help make brokers even more productive.

MoLo Solutions did $20M in revenue in its first twelve months of operations and is on a $70M run rate for its second year. FreightWaves interviewed CEO Andrew Silver and President Matthew Vogrich.

Trident Transport has doubled its revenue every year since it began operations in 2014, and was just named the fastest growing company in Chattanooga, a hothouse for brokerages and freight startups.

Without self-driving trucks, what is the point of Uber Freight?

Sophisticated freight brokerages can widen their margins when rates soften faster than shippers realize, but now’s a risky time to quote spot loads, because historical data suggests the market is about to tighten again.

Uber Freight is poised to rise quickly in the fragmented freight brokerage business, but there are some factors that could hinder its growth: limited market penetration of digital apps, the Uber Freight app’s weak intelligence into routes and hours of service, and incumbents’ tech investments.

The 3PL company saw its revenue climb in both its key units, with its services in demand in a tight market.

Carrier Lists combines their carrier sourcing information with SaferWatch’s assessment data to provide a unique consolidated service for freight brokers.

Freight brokers’ revenues went up but margins went down in 2017; Amtrak blames CSX for yesterday’s crash; Hazelwood won’t testify in Pilot trial; oil tanker shipping rates crater; click through for more!

A lot of facts and figures get thrown out by startups in the trucking space. Its important to understand whether these facts are credible or not. 

Small carriers and owner-operators have capacity to offer, but those that need it most – larger, Fortune 1000 shippers, don’t have access to that capacity because it is not cost-effective to onboard small carriers hauling just a few loads. Sudu, though, is changing that dynamic.