Freight margins are razor-thin. The brokerages surviving it built nearshore teams that actually work.
Flatbed rejections hit a record 48.7%, broker numbers stop falling, and diesel jumps 30 cents overnight.
Congress is moving to put driverless 80,000-lb trucks on public roads. Plus: 13,000 California CDLs get cancelled, diesel hits a 32-year record, Florida wants $50K to get your truck back, and more.
Good Friday Morning. As we near the weekend, we're about to take you on a trip to Southern Italy and explore the Italian mafia that controls a staggering two-thirds of Europe’s cocaine influx, right through one of Italy’s main ports. Can you guess which one? Scroll down to find out.
In today's email:
TOP LANE MOVERS POWERED BY GREENSCREENS.AI
*Greenscreens.ai, forecasts real-time truckload buy prices that are suited to each freight brokerage's purchasing power using AI and machine learning. Its engine takes into account over 130 attributes and data points in each rate forecast.
🐔 WHAT’S COOKIN’ IN FREIGHT
📈 Landstar Is On A Year Long High. Landstar, the infamous company we freight brokers and dispatchers like to make fun of, is laughing right back at us. Their stock price reached a 52-week high yesterday at $188.78. While almost the entire stock market is in the gutter (besides tech companies that mention AI in their shareholder calls), Landstar is booming. Why is that? For one, investors like their agency model, because it makes money. This comes in stark contrast to CH Robinson, a close peer, which has seen its stock decline by 12% in the same period.
🚛 Why Truck Sales Are On The Rise. Semi-truck sales are growing, but it's not because business is booming. It's a make-up for time lost during the COVID pandemic. Large truck companies couldn't buy new trucks from 2020 to 2022 due to supply issues and lack of drivers. Now, they're ordering more trucks than usual to replace their old ones and take advantage of more available drivers.
🚨 Trucking Fraud: Employees Stole $1.4M from MH Group. Two former workers of MH Group in Eagle Pass, Texas were accused by a federal jury of stealing $1.4 million from the company between 2017 and 2019. They even faked checks and claimed to own MH Group. If found guilty, they could spend 40 years in jail.
SPONSORED BY ASCEND TMS
AscendTMS is the world's most popular & best-rated TMS. Use our referral code RA-FreightCaviar! to receive 3 months of AscendTMS Premium for free. It only takes 20 seconds to sign up and no credit card is required. Click here to learn more.
ITALY'S MAFIA-DOMINATED COCAINE PORT
The 'Ndrangheta mafia's stronghold on the Port of Gioia Tauro has made it the epicenter of Europe's cocaine trade. The port, located in Calabria, Italy, has been responsible for intercepting a staggering 97% of the 14 tons of cocaine entering Italy last year, as well as a significant percentage of cocaine reaching the rest of Europe.
Recent years have seen a surge in cocaine seizures at the port, attributed to its increasing importance as a major hub for South American cocaine. Furthermore, it also serves as a transshipment point for trafficking to numerous locations including the Balkans and Turkey.
From the port's inception, 'Ndrangheta clans have influenced its operations heavily. With estimates suggesting around 35% of businesses at the port having mafia links, this highlights the extensive level of corruption and organized crime. The mafia's control over the port allows them to manage the entire cocaine supply chain, demonstrating their enormous advantage in the global drug trade.
The 'Ndrangheta mafia's involvement in the port and the global cocaine trade poses a complex challenge for authorities worldwide. To read the entire story, click here.
AROUND THE FREIGHT WEB
⚠️ Check Your Carriers Physical Addresses. Double brokers typically register their MC using sites like PhysicalAddress.com. Always worth going to Google Maps and looking at the physical location while setting up a new carrier.
💰 $200k Ain't Enough for Dockworkers. West Coast dockworkers, among the highest-paid workers in the U.S., are disrupting port operations due to a dispute over wage increases.
💻 Three Tech Freight Trends. The top emerging freight technology trends in 2023 are the use of artificial intelligence for automating tasks, digitizing trade documents for efficient operations, and leveraging blockchain for improved supply chain financing.
📊 AI & Ports. Artificial Intelligence, through carefully trained algorithms, is showing promise in optimizing port operations.
ANSWER
🚢 How Big is Maersk? Maersk moves 17% of the world's containers annually, enough to circle the globe nearly four times if lined up.
FREIGHT MEME OF THE DAY
Flatbed rejections hit a record 48.7%, broker numbers stop falling, and diesel jumps 30 cents overnight.
Congress is moving to put driverless 80,000-lb trucks on public roads. Plus: 13,000 California CDLs get cancelled, diesel hits a 32-year record, Florida wants $50K to get your truck back, and more.
Ryan Schreiber breaks down everything about strategy, relationships, mindset, and AI in logistics.
Oil spikes to $120 on Iran news before settling near $106. Plus: another influencer shipment gets stolen, Wyoming can now pull your truck, 24 states sue over tariffs, and more.
Join over 14K+ subscribers to get the latest freight news and entertainment directly in your inbox for free. Subscribe & be sure to check your inbox to confirm (and your spam folder just in case).
