Freight tech

Check Call: Gather round the crystal ball

Welcome to Check Call, our corner of the internet for all things 3PL, freight broker and supply chain. Check Call the podcast comes out every Tuesday at 12:30 p.m. EST. Catch up on previous episodes here. If this was forwarded to you, sign up for Check Call the newsletter here.

In this edition: 2024 predictions coming in hot; new TRAC Market Dashboard debuts; and TFI is on the prowl again. 

GIF: GIPHY

Gather around the crystal ball, it’s time for the hot takes and medium to large predictions...

https://www.freightwaves.com/news/check-call-gather-round-the-crystal-ball

Slync.io blames liquidity issues after employees go month without pay

After initially blaming an internal administrative error for the failure to pay its North American employees for nearly a month, Dallas-based logistics tech startup Slync.io stated Thursday that its “inability to timely liquidate funds” is the real reason for its ongoing payroll nightmare.

“The company’s recent payroll issues resulted from the company’s inability to timely liquidate funds from an otherwise attractive investment vehicle in order to make recent payroll and not from any funding...

https://www.freightwaves.com/news/slyncio-blames-liquidity-issues-after-employees-go-month-without-pay

PayCargo,  fintech for freight, lands $130M from Blackstone Group

Front close up of a large jet with cargo being loaded on the side and stacks of dollars superimposed on the side.

Freight payment platform PayCargo said Wednesday it has secured up to $130 million from  the Blackstone Group, one of the world’s largest private equity firms, to support rapid international expansion, new product development and potential acquisitions.

The series C investment from funds managed by Blackstone Growth represents the largest funding round for 13-year-old PayCargo, which landed $125 million from private equity firm Insight Partners exactly one year ago. Blackstone considers the...

https://www.freightwaves.com/news/paycargo-fintech-for-freight-lands-130m-from-blackstone-group

2021 is supply chain technology’s “Lehman Brothers moment”

An early-stage Freight Tech founder recently asked me if the sudden interest around supply chain technology would slow anytime soon. My answer was a simple “no.” 

2021 is the “Lehman moment” for supply chains. FinTech reached escape velocity after the 2008-09 financial crisis and supply chain tech is experiencing that right now.

The collapse of Lehman Brothers caught many people off-guard, but the foundations of the financial crisis existed long before. Once it all collapsed, there was no turning...

https://www.freightwaves.com/news/2021-is-supply-chain-technologys-lehman-brothers-moment

Peering into the future with U.S. Xpress — Taking the Hire Road

Dustin Koehl, SVP of sales at U.S. Xpress, joins this week’s episode of Taking the Hire Road to discuss U.S. Xpress’ Variant Model fleet, a digitally orchestrated fleet, with host Jeremy Reymer, founder and CEO of DriverReach. They also dive into a recent U.S. Xpress report about freight demand and trucking capacity issues, as well as Koehl’s work on the American Trucking Association’s (ATA) subcommittee on autonomous trucks.

Koehl said Variant derives its name from the Latin variantem, roughly...

https://www.freightwaves.com/news/peering-into-the-future-with-us-xpress-taking-the-hire-road

Analysis: ORBCOMM buyout – short odds on a bidding war?

The track and trace of a satellite firm (and why it matters to logistics)?
‘Detour risk’
Well, first off, the de-listing of Internet-of-Things firm ORBCOMM via a buyout may take a detour.
It received a $1.1bn bid, including net debt, on 7 April – the deal was disclosed the following day – from private equity house GI Partners. But so far that’s where the good news for its shareholders may end if the …

The post Analysis: ORBCOMM buyout – short odds on a bidding war? appeared first on The Loadstar.

https://theloadstar.com/analysis-orbcomm-buyout-short-odds-on-a-bidding-war/

Shipping lines agree T&T digital standards and call for ‘widespread adoption’

Ocean freight customers can now gain access to a standards-based API, following the adoption of track and trace (T&T) standards.
The Digital Container Shipping Association (DCSA) said today the majority of its members had adopted T&T standards, enabling an API which allows shippers real-time, cross-carrier data on their containers.
DCSA said “widespread adoption” would create better reliability and real-time responsiveness and carrier MSC called for collaboration across the industry.
“While a...

https://theloadstar.com/shipping-lines-agree-tt-digital-standards-and-call-for-widespread-adoption/

Zim invests in Wave BL blockchain tech in drive for paperless shipping

Israel’s Zim and one of the country’s leading investors, Marius Nacht, have together pumped $8m into blockchain developer Wave BL in a series B fundraising.
The investment will be used to “accelerate global implementation of Wave BL’s proven technology”, which uses blockchain to produce electronic bills of lading.
Zim issued its first paperless e-B/L in 2017, using Wave BL’s platform, and has since widely expanded its use to shippers globally.
Chief information officer …

The post Zim invests in...

https://theloadstar.com/zim-invests-in-wave-bl-blockchain-tech-in-drive-for-paperless-shipping/

Blockchain advances amid predictions of buoyant future in perishables supply chain

Blockchain is on the threshold of a bright future in perishables logistics, according to MarketsandMarkets.
A report published by the research firm predicts that the blockchain market in the agriculture and food supply chain will reach a volume of $948m by 2025.
Propelled by concerns about food safety, the use of the technology in the sector will show a compound annual growth rate of 48.1%, the authors believe. They anticipate the fastest …

The post Blockchain advances amid predictions of...

https://theloadstar.com/blockchain-advances-amid-predictions-of-buoyant-future-in-perishables-supply-chain/

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