Plus: autonomous trucking just raised $113M, California is fighting to keep 20,000 drivers, Arrive's 2026 truckload freight forecast, and more.
Two bills just dropped in the Senate that could reshape trucking faster than anything since deregulation. Plus: Russian hackers targeted your load board, flatbed rejection rates just hit 40%, and a robot is taking the Houston-Dallas overnight run.
This week: The Dalilah Law, a trucking bankruptcy that wiped out thousands overnight, a FreightGuard civil war on Reddit, and the payroll data that's predicting Q4 capacity.
Plus, DAT is moving from DAT Power to the criticized DAT One, Royal Bengal Logistics executives face charges in a $112 million Ponzi scheme, and Tesla's new Semi Factory plans are met with skepticism.
Good morning. Carrier Assure has introduced a new feature allowing carriers to report brokers, and DAT is moving from DAT Power to the criticized DAT One. Former Royal Bengal Logistics executives are facing charges in a $112 million Ponzi scheme. Tesla's new Semi Factory plans are met with skepticism, and Sennder is expanding by acquiring C.H. Robinson's European Surface Transportation business.
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
💻 Two Freight Tech Updates. After years of complaints from the trucking community about unfair carrier reporting sites, carriers can now report brokers for issues like no pay, slow pay, fraud, and more on Carrier Assure. In a more controversial change, DAT has informed customers via email that they will be discontinuing DAT Power over the next month, requiring all customers to switch to DAT One. However, DAT One has faced significant criticism, with 55% of our audience polled in March stating they hated it and another 26% stating it's okay.
💼 Florida Trucking Execs Charged in $112M Ponzi Scheme. Former Royal Bengal Logistics executives face SEC charges for a $112 million Ponzi scheme affecting 1,500 investors. The scam, running from April 2021 to June 2023, targeted South Florida's Haitian-American community with four fraudulent investment programs promising unrealistic returns. Ricardi Celicourt and Brisly Guillaume, unregistered as brokers, received $1.3 million in bonuses. The company lost over $18 million between 2019-2023, requiring $70 million from new investors to pay existing ones. The SEC seeks injunctions, penalties, and restitution, while ex-president Sanjay Singh faces criminal charges with a September trial.
🚛 Industry Skeptical of Tesla Semi Factory. Tesla plans a new Semi Factory in Nevada, targeting 50,000 electric trucks annually by late 2025. Despite enthusiasm from Tesla's Semi program head, Craig Fuller remains skeptical for the time being. Only 140 Tesla Semis have been produced, with less than 100 currently hauling freight. This contrasts sharply with 1.5 million diesel trucks produced since 2017. PepsiCo, Tesla's largest third-party customer, experienced a 30% failure rate in their initial batch but ordered 50 more after issues were addressed. The project faces an uphill battle in a diesel-dominated industry, with only 1,000 heavy-duty electric trucks on US roads compared to 4 million diesel trucks.
TOGETHER WITH EPAY MANAGER
Epay Manager Powered by OTR Solutions is a back-office automation solution that enables teams to easily collect PODs and process carrier invoices, manage disputes, schedule carrier payments, and bill customers in one centralized platform for AR and AP teams.
Epay's platform is designed to virtually eliminate operational reliance on email and the need to audit carrier invoices for rate and delivery information thanks to its Audit Proof Invoicing feature. Backed by the power of OTR Solutions, Epay Manager now offers integrated AI-driven NLP automation and working capital solutions. See what Epay can do for you:
German unicorn Sennder has announced its acquisition of C.H. Robinson's European Surface Transportation (EST) business. The all-cash deal, expected to close in Q4 2024, will significantly expand Sennder's presence in the European logistics market.
This acquisition highlights two major trends:
The deal is expected to close in Q4 2024, pending regulatory approval. Industry watchers predict this could trigger more M&A activity in European logistics.
Benjamin Gordon, CEO of Cambridge Capital, notes: "Over the course of 2024-2025, I predict we will see more 'asset trades' that generate shared success by enabling both buyers and sellers to double down on their core business."
This acquisition creates a freight forwarding powerhouse in Europe. Sennder gains scale and network density, while CH Robinson refocuses on its home turf.
Surprising Stat: Sennder's revenue will jump from €700 million to €1.4 billion post-acquisition.
David Nothacker, Sennder CEO, sums it up: "With our combined business and enhanced talent pool, we can deliver substantial growth and operational scale, accelerating our European expansion and increasing network density and digital capabilities for the benefit of carriers, shippers, and the wider industry."
TOGETHER WITH TEXT LOCATE
TextLocate makes it easy for brokers to communicate directly with drivers via SMS-based text messaging—no app to download—without having to use personal communication devices. Features like 2-way text chat, one-time location updates, and image capture (think BOLs and PODs) all inside a simple dashboard give brokers the quick updates they need to make better decisions about freight. Instead of wasting time calling drivers, brokers simply automate the process through TextLocate and save hours at very little cost investment.
🌎 AROUND THE FREIGHT WEB
📞 Suspicious Number Alert. An Instagram follower informed us that the phone number 949-527-2557 is associated with 389 different MCs. Given that the 949 area code is from Orange County, California, this isn't surprising.
🚨 Leo the Scammer. A Reddit user posted details about a scammer named Leo, who is using a Minnesota VoIP to impersonate his brokerage and steal carrier identities through fake RMIS emails.
📈 Werner CEO Sees Potential Market Turnaround. Werner Enterprises CEO Derek Leathers suggests the freight market may be nearing an inflection point (he said the same thing 6 months ago).
🛠️ Love's Expands Financial Services. Love's Financial acquires REV Capital's U.S. freight factoring portfolio, adding 500+ customers.
🏷️ Private Labels: Retail's Billion-Dollar Secret. Jon Davids explains on LinkedIn how major retailers like Walmart, Aldi, and Costco are generating massive revenues from private label brands.
FREIGHT MEME OF THE DAY
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Plus: autonomous trucking just raised $113M, California is fighting to keep 20,000 drivers, Arrive's 2026 truckload freight forecast, and more.
Two bills just dropped in the Senate that could reshape trucking faster than anything since deregulation. Plus: Russian hackers targeted your load board, flatbed rejection rates just hit 40%, and a robot is taking the Houston-Dallas overnight run.
This week: The Dalilah Law, a trucking bankruptcy that wiped out thousands overnight, a FreightGuard civil war on Reddit, and the payroll data that's predicting Q4 capacity.
Indiana pulled the trigger on carriers employing illegal CDL holders. Plus: tariff ruling could flood LA with imports, DC finally moves on double brokers, spot rates are outrunning contract, and more.
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