Plus, a Chicago-based freight broker boasts about making $215k in one day, Lineage Logistics hits it big with an $18 billion IPO, the latest on the Ocean's 11-style freight heist, and more.
We took the opportunity to ask our Instagram followers about their best days as freight brokers. Here are some of their responses...
Heartland Express, Covenant Logistics, and Knight-Swift Q2 earnings show mixed results, debt reduction, and market stabilization signs.
Kevin Hill: Freight brokerage authorities decline for the seventh consecutive month, with a 7.8% drop from last year.
According to data from Carrier Details and Brush Pass Research, freight brokerages have faced a contraction for the seventh consecutive month, signaling a significant trend in the industry. Here's the breakdown:
The trend over the past three months shows consistent declines: -7.4%, -6.1%, and now -7.8%, as the freight industry grapples with an ongoing recession spanning 22 months. Before the pandemic, the number of brokerages stood at 21,229, representing a net increase of 33% to date.
However, these net figures don't capture the full picture of the industry's volatility. In the two years from January 2020 to December 2022, there were 25,000 new authorities activated, yet only 9,700 remain active, pointing to a high turnover rate.
The future trajectory of active brokerage authorities by the end of 2024 is heavily dependent on the recovery of the freight market.
Source: Brush Pass Research
New hire's suspicious behavior raises red flags at freight company. Industry veteran shares similar tale, highlighting ongoing corporate espionage concerns.
TQL secures win in 11th Circuit Court, reinforcing 3PL protections against liability in carrier accidents. Here's why it matters.
I remember in my early days as a carrier rep thinking, 'If only I had that massive carrier someone else has, I would be killing it,' or 'If only I had that one massive customer, I would be killing it.' The truth is that one account or one carrier won't make your brokerage great..."
"I worked at two of the larger, more reputable brokerages and left them for smaller shops. I learned that the grass isn't always greener..."
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