Happy 4th of July Week: Here's a round-up of the most engaging and talked-about freight content from around the web and from us.
Plus: Uber Freight’s $9M hit in Del Monte’s bankruptcy, ATRI says trucking costs are up (again), July 4 cargo theft risks spike, and more.
Fifteen stolen loads. Four fake carriers. One ring of trucks hiding in plain sight. GenLogs uncovers how zip-tied plates, swapped MCs, and a $200K solar panel swipe exposed a coast-to-coast cargo theft network brokers missed.
In response to declining revenues and freight market downturn, Freightos reduces staff by 13% and further lowers its 2023 revenue outlook.
Freightos, a digital platform for international air and ocean shipping, announced a 13% staff cut and a second revision of its annual outlook to cope with a sustained downturn in freight markets and declining revenues. The Jerusalem-based company now expects revenues to lie between $20m and $21.2m for 2023, a significant drop from the initial expectation of $26.6m. Freightos also reported an operating loss of $24.3m last year, a notable increase from the $16.3m loss in 2021, despite revenue growth.
Source: FreightWaves
If freight transportation companies have slow sales that trickles down to #fintech and freightech service providers like @freightos $CRGO that make money as a % of transactions . . . https://t.co/Gs7qG3pnu9 #supplychain
— Eric Kulisch (@ericreports) July 11, 2023
Fifteen stolen loads. Four fake carriers. One ring of trucks hiding in plain sight. GenLogs uncovers how zip-tied plates, swapped MCs, and a $200K solar panel swipe exposed a coast-to-coast cargo theft network brokers missed.
Samsara aims to improve its services with investment with HappyRobot
Margins are tight. Brokers are tired. But the smartest teams are winning by combining nearshore talent with AI-powered freight tools. This is where the freight margin lives.
Freight brokers are getting squeezed by extended shipper payment terms. Here’s how the smartest teams are reducing DSO, improving cash flow, and surviving the float gap.
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