DOT Blitz Week starts tomorrow, and brokers are bracing for one of the toughest weeks in years. Plus: $10.1M in stolen freight leads to five years in prison, Forward Air loses 40% of its value, diesel prices hit produce costs, and more.
Aurora's driverless trucks are moving real loads between Dallas and Houston right now, and nobody is in the cab. Plus: RXO signals a strong freight rebound, Ken Adamo joins Ease Logistics, rail got faster to Mexico, and more.
Aurora signed two major partnerships in one week. Spot rates just hit an all-time high. A Chicago cross-dock blew up Reddit over how shippers load trailers. And someone dug into Super Ego's carrier network — the safety scores are not okay.
Josh Bouk from TriumphPay forecasts a later freight market rebound by December 2024.
A Different Outlook
Josh Bouk, TriumphPay’s chief partnership officer, offers a unique perspective on the freight market's future. Unlike others predicting a recovery in mid-2024, he anticipates it won't be until December 2024. His viewpoint is grounded in the company's extensive involvement in logistics transactions, amounting to nearly $50 billion annually.
Despite increased retail sales, 2023's market hasn't seen the expected rate rise. Brokers are advised to focus on profitability, with TriumphPay playing a key part in streamlining invoice settlements and fraud prevention.
Bouk notes the recent spike in online spending and its uncertain impact on the trucking sector. For brokers, the next year is crucial for maintaining business efficiency and managing costs effectively.
The company is preparing to unveil new partnerships that promise greater industry insight.
Source: FreightWaves
The majority of respondents to our survey believe that the freight market will rebound in the second half of 2024. What's your take? pic.twitter.com/727pyS4LRq
— Man, I Love Freight 🚛 (@freightcaviar) November 20, 2023
Plus, the offshore dispatchers your safety score can't catch, why Hormuz stays closed even after the war ends, what Triumph Financial's invoice volumes say about where freight is headed, and more.
Plus, diesel's rising price streak finally snaps, a 13-year shipper relationship ends in a $726K lawsuit, Congress takes a real swing at cargo theft, and more in today's newsletter.
Plus, C.H. Robinson's 2026 rate forecast update, Hormuz tankers still stuck, a $1M LEGO heist, and more.
The March LMI reads like 2022 with prices at a 4-year high. Plus: warehouse arson in California, Mexico's trucker strike enters day three, and broker margins are still underwater.
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