brokerage

Sheer Logistics acquires CargoBarn to expand brokerage specialties

Managed transportation provider Sheer Logistics announced Tuesday it has acquired freight brokerage CargoBarn. The strategic move enhances Sheer Logistics’ brokerage services, diversifying the type of freight in its portfolio. The acquisition aims to strengthen the company’s ability to handle future cyclical market shifts. Terms of the acquisition were not disclosed.

“We see this as a very timely acquisition in the context of bolstering a foundation to be ready for what the next year or two...

https://www.freightwaves.com/news/sheer-logistics-acquires-cargobarn-to-expand-brokerage-specialties

Navigating the brokerage landscape in 2024

The rapid integration of technology, coupled with disruptions in the transportation market in recent years, has generated an opportunity for freight brokerages to broaden their services and offer shippers a consultative approach to logistics.

In a recent interview with the leaders of remote staffing solutions provider Zelh Logistics, President Jeff Ogren and Vice President of Sales Chris Fields explained the changing dynamics of logistics providers.

While discussing technology’s impact, Ogren and...

https://www.freightwaves.com/news/navigating-the-brokerage-landscape-in-2024

Weathering the market highs and lows in a career in freight

Freight broker agents play a critical role in the supply chain, connecting shippers with carriers and facilitating freight movements. Carrier agents work on behalf of a trucking company to find and schedule loads for drivers and equipment and ensure on-time deliveries. While their roles are very different, both are concerned with the movement of freight, and brokerages and motor carriers endure many of the same industry challenges.

Joe Taylor, a freight broker agent for Quaker Transportation,...

https://www.freightwaves.com/news/weathering-the-market-highs-and-lows-in-a-career-in-freight

Family-owned California trucking company ceasing operations after 95 years

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A third-generation family-owned trucking company and brokerage — Certified Freight Logistics,...

https://www.freightwaves.com/news/family-owned-california-trucking-company-ceasing-operations-after-95-years

Freight agent autonomy: What does it take?

For freight agents attempting to navigate today’s volatile market, partnering with the right company can mean the difference between success and failure.

California Freight believes in letting independent brokers do what they do best: be brokers. Agents sell the freight, while California Freight handles carrier and shipper administration, as well as other necessary back-end functions. 

California Freight has worked to design an agent program that promotes both autonomy and profitability. To do...

https://www.freightwaves.com/news/freight-agent-autonomy-what-does-it-take

Improving broker reputation starts with integrity

Logistics is a relationship-based business. It is no surprise then that players across the industry pour into partnerships and place a premium on service. For carriers, this means living up to service agreements and delivering on key performance metrics. For shippers, it often means taking steps to become a “shipper of choice.”

For brokers, excellence lies in standout customer service. The problem, however, is that most brokerages have a customer service problem, according to Waggon Founder...

https://www.freightwaves.com/news/improving-broker-reputation-starts-with-integrity

It’s time for massive load board players to take responsibility for fraud

The Wall Street Journal ran an article on April 26 detailing the load board fraud crisis and the proliferation of double brokering. 

As the Journal reported, leading load board provider Truckstop found reports of fraud jumped by 400% from the fourth quarter of 2021 to the fourth quarter of 2022, the highest level since the firm started tracking reports in 2004. 

It is likely that this article didn’t shock anyone in the truckload brokerage industry because almost everyone who has worked in the...

https://www.freightwaves.com/news/its-time-for-massive-load-board-players-to-take-responsibility-for-fraud

RXO comes in relatively strong in quarter full of weak freight earnings

On the earnings call Wednesday for publicly traded 3PL RXO, Ravi Shanker of Morgan Stanley asked the question that lingered after the upbeat statements by company management: How can this company’s leaders be so optimistic?

Shanker is one of the network of transportation analysts who have sat through one dreary Q1 earnings call after another, with executives across the spectrum all talking about the “soft” market — a four-letter word that has come up on virtually every call — and forecasts that...

https://www.freightwaves.com/news/rxo-comes-in-relatively-strong-in-quarter-full-of-weak-freight-earnings

LeeWay Services files for $17M IPO

A white semi-truck is traveling down a road with a blue sky in the background.

Freight brokerage and logistics services provider LeeWay Services Inc. filed with the Securities and Exchange Commission on Monday to raise up to $17 million in an initial public offering.

The Salt Lake City-based company said it plans to be listed on the Nasdaq but hasn’t decided on a ticker yet. ThinkEquity is the sole bookrunner on the deal. LeeWay didn’t disclose any pricing terms.

“LeeWay Services operates a freight brokerage and transportation platform that matches shipper loads with...

https://www.freightwaves.com/news/leeway-services-files-for-17m-ipo

Radiant Logistics: ‘We’re still seeing good volumes’

Trucks leaving Port Houston

Third-party logistics provider Radiant Logistics reported record results for its fiscal third quarter ended March 31. Management from the company said it’s not seeing any material slowdown in demand.

“We’re still seeing good volumes,” Bohn Crain, founder and CEO, stated on a call with analysts when discussing the company’s international freight network. “I think it’s fair to say everybody’s having to work a lot harder than we might have had to at different times but freight is still moving....

https://www.freightwaves.com/news/radiant-logistics-fq3-2022

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