Borderlands is a weekly rundown of developments in the world of United States-Mexico cross-border trucking and trade. This week: Echo Global Logistics grows cross-border footprint as trade booms; Maersk launches cross-border warehouse in Tijuana; Yokohama announces $380M tire plant in Mexico; and Legendz Way to open distribution center in North Texas.
Echo Global Logistics grows cross-border footprint as trade booms
Echo Global Logistics has opened new locations in Texas and Mexico, as more...
Doug Waggoner, CEO of Echo Global Logistics, said he believes the freight market has bottomed out, shed excess trucking capacity and could stabilize by the end of the year.
Founded in 2005 by Bradley Keywell and Eric Lefkofsky, Echo Global Logistics is a global provider of technology-enabled supply chain management services. Waggoner has served as CEO of the Chicago-based company since December 2006.
“The number of trucks is declining, so not only the number of carriers, but the number of trucks...
Over the past several years, shippers have prioritized getting orders out the door as quickly as possible. This approach is a natural response to the demands of an increasingly impatient consumer base, and has affected B2B and B2C companies alike. It has, however, proved to be costly.
“That results in a one-to-one order to shipment [scenario], which isn’t very transportation-efficient,” Echo Global Logistics Executive Vice President of Managed Transportation Mike Mobley said.
When shippers...
https://www.freightwaves.com/news/shippers-can-unlock-serious-cost-savings-with-order-optimization
Invoicing platform Navix announced it has entered into a partnership with top 10 U.S. brokerage Echo Global Logistics to provide support for Echo’s back-office automation goals.
“[Echo] felt that we had a solution that was an industry game changer robust enough and supplemented the direction of their technology roadmap,” Eric Krueger, co-founder and president of Navix, said on Tuesday. “Ultimately this allowed them to find opportunities within their workflows, processes, and even some instances...
https://www.freightwaves.com/news/echo-partners-with-navix-to-enhance-freight-bill-auditing
From chocolates melting in the heat to pharmaceuticals degrading in the cold, the delicate balance of temperature-controlled shipping is a dance Echo Global Logistics has worked hard to master.
Frank Hurst, Echo’s executive vice president of less-than-truckload, has been a big part of that work. He joined FreightWaves’ Mike Baudendistel and Grace Sharkey on a recent episode of The Stockout to discuss some of the challenges in the refrigerated LTL segment, as well as Echo and Roadtex’s road map...
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NEW YORK — The movers and shakers who descend on New York City each December to talk about the role...
As the North American trucking industry navigates a challenging phase, marked by the excess of capacity that ballooned during the COVID-19 pandemic, Echo Global Logistics is taking forward-thinking strides in the realm of partial truckload shipping.
It’s well understood that the industry is grappling with stubbornly low freight rates. This situation, while beneficial for shippers, poses a significant challenge for carriers. When the market does turn, there’s a possibility it will overcorrect,...
https://www.freightwaves.com/news/echo-global-logistics-is-redefining-partial-truckload-shipping
The credit rating of Echo Global Logistics has taken a one-notch downward hit by S&P Global Ratings, with its interest costs rising and its revenue sliding on the back of the weaker freight market.
Moving to B- from B pushes the credit rating of Echo, which was acquired by The Jordan Co. two years ago, further into non-investment-grade territory. The entire class of B ratings is defined as “highly speculative.” At B-, it is six notches less than BBB-, the lowest investment-grade rating on the...
https://www.freightwaves.com/news/tough-freight-market-hits-echos-debt-ratings-down-a-notch-at-sp
The trucking industry is increasingly leveraging sophisticated new technology solutions to tackle some of its most pressing challenges.
Echo Global Logistics, a top provider of technology-enabled supply chain management services, rejects a one-size-fits-all approach to technology. It leverages a variety of intelligence capabilities to provide shippers and carriers with solutions that meet them where they are in their technology adoption journeys.
Echo provides larger shippers or carriers...
https://www.freightwaves.com/news/echo-global-logistics-goes-beyond-ai-to-drive-value
On-time performance is one of the most important metrics in the transportation industry. When shipments arrive late, companies lose money and jeopardize important partnerships. When it comes to temperature-controlled shipments, however, the stakes are even higher.
“Temperature-controlled is a completely different beast. It is over 100 degrees in the Southeast. Customers want to make sure there are no fluctuations in temperature,” said Frank Hurst, executive vice president of LTL at Echo Global...