The Supreme Court just heard arguments in the broker liability case we’ve been tracking. Plus: oil shipping costs explode, trucking insurance is stuck in 1980, regulators brace for a carrier crackdown, and more.
Optimize freight broker operations by fixing payment workflows in Q1. Streamline carrier pay before capacity shifts compress your margins.
Tucker Carlson’s nicotine brand loses 378,000 tins in a cargo theft. Plus: produce rates reset, diesel climbs, and a bill that could pull hundreds of thousands of drivers off the road.
Plus: Freight brokerage closures: by the numbers, retailers brace for tariffs and strikes, Triumph acquires ISO, and more.
Happy Hump Day. In today’s feature story, we cover RXO’s Coyote acquisition, $13.7M North Carolina expansion, and plans for 2025 growth.
Plus:
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🐔 WHAT’S COOKIN’ IN FREIGHT
📉 Freight Brokerage Closures: By the Numbers. The freight brokerage industry lost 181 brokerages between November and December 2024, adding to a tough year. On average, 257 brokerages closed every month in 2024. The industry now has 2,900 fewer brokerages than expected based on 10 years of growth trends. This marks an 11.6% decline in active brokerages over the past year, though the five-year growth rate is still up 20.7%. A comment on Kevin Hill’s LinkedIn profile suggested that many closures are from brokerages launched during the COVID-19 boom, which are now struggling to stay afloat.
🤝 Triumph Acquires ISO. Triumph Financial has acquired Isometric Technologies Inc. (ISO) to enhance its technology and data capabilities. ISO’s platform helps shippers and freight brokers uncover inefficiencies, reduce costs, and improve relationships using reliable performance data. This news hits close to home—ISO has been a solid FreightCaviar sponsor for the past year and a half. Co-Founder & COO John Stauffer thanked everyone who was involved with ISO over the past five years and is eager to work with Triumph.
📦 Retailers Brace for Freight Disruptions. Retailers are accelerating imports to mitigate disruptions from looming East and Gulf Coast longshore strikes and potential tariffs under the Trump administration. U.S. ports recorded a 9.3% YoY rise in October container volumes, with spikes expected into the new year. This frontloading strains freight capacity, impacting both truckload and intermodal freight. “Either a strike or new tariffs would be a blow to the economy, and retailers are doing what they can to avoid the impact of either for as long as they can,” said NRF Vice President for Supply Chain and Customs Policy Jonathan Gold. On top of that, 48% of supply chain leaders cite tariffs as their top concern.
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In a freight market still rebounding from a two-year slump, RXO is doubling down on scale, tech, and acquisitions to solidify its position as a freight brokerage highflier.
Their Coyote Logistics acquisition, combined with a $13.7 million North Carolina expansion, signals that RXO is setting its sights on a stronger 2025.
Jerome Washington
On Freightwaves, What the Truck?!?, Wilkerson broke down why RXO moved on Coyote:
Amidst its growth momentum, RXO is proving its tech-driven approach is paying off. The company was just named a 2024 Top Software and Technology Provider by Food Logistics and Supply & Demand Chain Executive.
RXO is putting its money where its freight is—announcing a $13.7 million expansion at its Charlotte operations. Over the next three years, RXO will add 216 jobs with an average salary of $89,769.
“North Carolina’s strategic location, robust infrastructure, and skilled talent pool make it a vital hub for the transportation industry,” Wilkerson told Transport Topics.
Speaking more on M&A activity, Wilkerson noted the freight industry is just beginning its consolidation phase:
“The industry is positioned to see more M&A in the next 12-24 months,” Wilkerson predicted—good news for a market looking to stabilize and scale.
RXO’s moves are a playbook for freight’s rebound: scale, optimize, expand. The bullish stock response and investment in tech, people, and facilities suggest RXO is hyperfocused on building the next wave.
As Wilkerson put it: “You don’t just prepare for the inflection; you prepare for the next downturn.”
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🌎 AROUND THE FREIGHT WEB
🤔 Convoy’s Bitcoin What-If. Chadd Olesen joked that if Convoy had invested its $840.5M funding into Bitcoin, it would now be worth $13.7B.
🚫 Kroger-Albertsons Merger Blocked. A judge halted Kroger's $24.6 billion merger with Albertsons, citing potential anti-competitive impacts in the grocery market.
⚖️ Broker Liability Decision. The Supreme Court faces another critical case involving broker liability over two TQL-related trucking disputes, though there is no guarantee the Court will take up the issue due to prior rejections in previous years.
📣 Shipper CRM Spotlight. FreightWaves highlights the Shipper CRM x Journey partnership. Shipper CRM, a FreightCaviar product, has joined forces with Journey to streamline lead generation, provide targeted sales training, and equip freight sales teams with smarter tools and resources.
⛽ Three-Year Low. The benchmark diesel price has dropped to its lowest level in over three years. Key factors include the potential tariffs, a “weak” Chinese Market, moves by Saudi Arabia, and demand uncertainties.
🚨 Arrests in Migrant Crash. A task force arrested five Guatemalans on human smuggling charges in connection to a semi-truck crash that tragically claimed the lives of over 50 migrants.
🎣 THE FREIGHT CAVIAR CORNER
FREIGHT MEME OF THE DAY
The Supreme Court just heard arguments in the broker liability case we’ve been tracking. Plus: oil shipping costs explode, trucking insurance is stuck in 1980, regulators brace for a carrier crackdown, and more.
Tucker Carlson’s nicotine brand loses 378,000 tins in a cargo theft. Plus: produce rates reset, diesel climbs, and a bill that could pull hundreds of thousands of drivers off the road.
The Middle East crisis is already hitting carriers. Plus: Florida lost $3B in crops, flatbed rates posted a fifth straight weekly increase, a $5B brokerage was just acquired, and more.
Plus: autonomous trucking just raised $113M, California is fighting to keep 20,000 drivers, Arrive's 2026 truckload freight forecast, and more.
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