brokers

Small carriers, owner operators remain lifeblood of transportation during market downturn

Small carriers and owner operators make up the large majority of the nation’s carrier base. Very small carriers – fleets with one to six tractors – account for 86% of total U.S. carriers, according to recent FMCSA data. Small carriers – those with 7 to 19 tractors – make up another 9%. All together, these fleets provide over 30% of the industry’s available power units.

Despite their prevalence in the market, these players tend to be the most affected during market downturns. Smaller teams means...

https://www.freightwaves.com/news/small-carriers-owner-operators-remain-lifeblood-of-transportation-during-market-downturn

Current market a hindrance for carriers and brokers alike

To say the least, the last few years for the transportation industry have been turbulent.

Motor carriers enjoyed elevated demand from mid-2020 through spring ’22, an environment that provided plenty of freight for them to move and stronger rates as consumers spent their stimulus dollars.

But a drop-off in demand came on quite suddenly during the second half of last year. As a result, rates dropped and tender volume rejections sank to near 2019 “bloodbath” lows, where they continue to hover, as...

https://www.freightwaves.com/news/current-market-a-hindrance-for-carriers-and-brokers-alike

Why limit your provider mix?

By Omar Singh, president and founder, Surge Transportation

It always surprises me when anybody chooses to arbitrarily limit their options. In this conversation, we’re discussing limiting the number of brokers shippers work with based on, well, the number of brokers they work with rather than based on the specific strengths and weaknesses of their broker partners. 

When it comes to motor carriers, the selection of carrier partners is much more deliberately made on the strengths of those carriers....

https://www.freightwaves.com/news/why-limit-your-provider-mix

Trucker Tools’ loyalty program rewards drivers, not carriers

Carrier rewards programs have become popular in recent years. 

These programs are typically intended to foster goodwill between shippers or brokers and their transportation partners, especially during times of market volatility and general unpredictability. While these programs often reward carriers, they do not typically benefit individual drivers.

Trucker Tools has set out to change that.

“We have talked to hundreds of brokers over the years who are looking for a scalable, reliable digital way...

https://www.freightwaves.com/news/479423

Carriers say Q4 to be less profitable than Q3 despite holiday surge

A screenshot showing the Q4 2022 Freight Sentiment Indexes in a violin chart

Carriers aren’t feeling confident that the fourth quarter will be more profitable than the third, according to a new set of sentiment indexes built to track how different segments of the freight transportation industry are feeling.

FreightWaves Research recently conducted Q4 outlook surveys directed to separate groups of carriers, shippers and 3PL companies. In them, respondents were asked to indicate on sliding scales from minus-100 to 100 what their feelings were on five topics: near-term...

https://www.freightwaves.com/news/carriers-say-q4-will-be-less-profitable-than-q3-despite-holiday-surge

How to keep carriers happy and performance high during peak season

It’s no secret the holiday season is the busiest time of year for the logistics industry.

Dan Cicerchi, general manager and vice president of transportation management solutions at Descartes, sat down with FreightWaves to discuss various ways for brokers and 3PLs to improve service and keep morale high during this year’s peak season.

According to Cicerchi, freight brokers and 3PLs should be focused on accommodating carriers’ specific needs in order to improve service levels.

“We kind of live by...

https://www.freightwaves.com/news/how-to-keep-carriers-happy-and-performance-high-during-peak-season

How broker agents can endure a soft freight market

In a soft freight market, one big challenge brokers face is securing new contracts at favorable rates.

Today’s market conditions, in which capacity is loose and rates are low, mean shippers have the advantage when it comes to pricing power. 

“Right now everyone’s just very, very hungry because there is additional capacity in the marketplace, but those that have those relationships with customers are the ones that still have the freight at the end of the day,” said Brian AuBuchon, vice president...

https://www.freightwaves.com/news/how-broker-agents-can-endure-a-soft-freight-market

Trucker Tools just made finding middle ground easier for brokers, carriers

As the market continues to challenge carriers with low spot rates and rising operational costs, fleets are currently at a disadvantage when it comes to booking loads that grow margins. 

Strong relationships between brokers and carriers are always integral to the trucking industry, but during times of hardship such as this, they are even more critical.

It’s clear, then, why new Trucker Tools COO Rohit Bezewada is seeing margin optimization as a top priority for both carriers and brokers right now....

https://www.freightwaves.com/news/trucker-tools-just-made-finding-middle-ground-easier-for-brokers-carriers

ComFreight offers accessible factoring options for new, small brokers

A truck rolls down the highway.

Young brokerages and those attempting to rapidly scale their businesses often end up taking out loans to cover their costs and finance their carrier payments. The terms that accompany these loans — including high interest rates, strict payback periods and restrictive covenants — can become burdensome for brokers and may actually hamper rather than enable their growth.

Many brokers rely on these types of loans to help them pay carriers and staff when growing in the industry. 

“Carriers and...

https://www.freightwaves.com/news/comfreight-offers-accessible-factoring-options-for-new-small-brokers

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