Good Wednesday morning. Part of the FreightCaviar team is on their way to the Transportation Intermediaries Association (TIA) Conference in Phoenix, Arizona. We will be presenting today at media day about our SaaS product, which officially launched yesterday: ShipperCRM.If you will be around, stop by and say hi.
*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
🏌️♂️ Echo Takes a Swing with McCarthy. Echo Global Logistics sponsored Denny McCarthy for the 2024 Valero Texas Open to enhance brand visibility, inspired by MegaCorp's viral success with golfer Brian Harman. McCarthy's impressive PGA performance, especially his second-place finish at the Valero Texas Open last week and promising stats leading into the Masters, might lead to a nice payoff. The backing from Echo has the potential to mimic MegaCorp's win-win at the Open Championship last year. Will history repeat its viral victory lap? Tee time reveals all tomorrow, April 11.
🔮 Jamie Dimon's AI Prophecy. JPMorgan Chase CEO Jamie Dimon envisions AI changing the face of society and the bank's operations, from fraud detection to potentially aiding all 310,000 employees. He emphasizes AI's vast potential in his shareholder letter, situating it above other bank concerns and likening it to the introduction of computers. AI advancements in freight mirror Dimon's predictions, optimizing logistics, automating warehouses, and streamlining transportation. This synergy suggests an imminent AI-integrated era in freight, propelling the industry toward unprecedented efficiency.
🔌 TSMC Gets $11.6 Billion for Chip Factory Expansion. The U.S. has awarded TSMC, a leading Taiwan-based chipmaker, $11.6 billion in grants and loans to expand chip manufacturing, a major boost to the economy and freight. This funding will support the construction of three new factories in Arizona, driving the country's efforts to strengthen domestic semiconductor production. Arizona's rise as a freight hub is being driven by moves from TSMC, Intel and others who are generating thousands of jobs in rail, manufacturing, and construction in the region.
TOGETHER WITH ISO
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Booking unreliable carriers leads to higher operational costs: more bounces, more reschedules and more headaches. With ISO, you can source carriers for every lane based on service data. More reliable carriers mean happier customers, higher volumes and lower cost per load. Learn more at iso.io.
Matt Silver Launches Cargado, Details Vision for Cross-Border Freight
Founded by freight industry veteran Matt Silver, Cargado is a technology platform designed to address the complexities of moving freight across the U.S.-Mexico border. Drawing from his experiences at Coyote and founding Forager, Silver aims to improve efficiency and reduce errors in cross-border freight through Cargado.
Cargado’s Strategic Position
Cargado aims to support this growing trade environment through its software, addressing specific logistical complexities inherent in cross-border transportation:
Solution-Oriented Approach: Silver articulates Cargado’s focus on developing software to assist brokerages, rather than competing with them as a freight brokerage.
Industry Support: Cargado intends to support the broader ecosystem of companies involved in U.S.-Mexico trade. It's a "platform that is focused on bringing cross-border freight online," Silver explains.
Cross-Border Trade Challenges
The movement of goods between the U.S. and Mexico involves navigating a range of logistical hurdles, such as extensive customs procedures and security concerns. Silver highlights several key issues in a recent interview on the Bloomberg Odd Lots Podcast:
Customs Complexity: Cross-border shipments can involve multiple parties and extended timelines, anywhere from seven to 20 days.
Regulatory and Security Gaps: Mexico's freight brokerage industry faces challenges such as the need for better regulation and security measures to mitigate theft and ensure safe transportation.
"In the United States, you could go on a website and you could find a bunch of details about a trucking company in a matter of three minutes... You can't do that with a trucking company in Mexico. And there's no regulation over freight brokerages in Mexico." – Matt Silver, Odd Lots Podcast
Manufacturing and Trade Opportunities
Despite these challenges, the U.S.-Mexico trade corridor is witnessing growth, driven by manufacturing expansion and technological advancements:
Infrastructure Investments: Recent years have seen substantial growth in manufacturing facilities and improvements in transportation infrastructure within Mexico.
Technological Progress: Truckers and logistics companies in Mexico are adopting modern technology, which is enhancing communication and operational efficiency.
"The technology advancement was a big piece... And I think that was the catalyst that caused all this growth to happen. And then the pandemic kind of tipped it all over. But, you know, it's been growing steadily for 20 or 30 years now." – Matt Silver, Odd Lots Podcast
For more insights from Matt Silver on the future of cross-border freight, including insights on needed regulations, insurance, and more, check out the Odd Lots Podcast from Bloomberg.
TOGETHER WITH DYNAMIC LOGISTIX
Nothing is more accurate than real-time tracking. Follow your truckload’s entire journey with our transportation management system, XTMS. With status notifications delivered every 15 minutes through a centralized platform, you can pinpoint a truck’s exact location, maximizing planning and route efficiency and making smarter decisions faster.
See XTMS in action and join the thousands of users who are controlling costs and improving their customer relationships.Sign up to demo XTMS here.
AROUND THE FREIGHT WEB
📈 Optimism in Freight. The VP of Sales at Zelh Logistics shares encouraging charts from Morgan Stanley's Freight Transportation Update, hinting at a potential rebound for carriers and brokers.
🚚 Reshaping the Road. Thomas Black argues that the bankruptcy of truck companies signals a necessary adjustment to overcapacity, ultimately strengthening the industry.
📉 Youth on Hold. FMCSA's under-21 truck driver apprenticeship program sees a disappointing uptake, with 34% of applications rejected.
🔍 Closing Loopholes. The U.S. targets a trade loophole used by e-commerce giants like Temu and Shein, aiming to curb duty-free apparel imports under scrutiny for labor practices.
🏆 Tech's New Frontier. Salt Lake City leads as America's hottest job market, with Florida cities also topping the charts.
🎣 FREIGHT CAVIAR TECHNOLOGIES
FreightCaviar Technologies brings you a shipper database & CRM for freight brokers called ShipperCRM. We've been relatively quiet about the project since October 2022, but we officially launched yesterday!
Missed the launch event? You can catch the replay and share your thoughts here.
FREIGHT MEME OF THE DAY
Also, check out:
🎧 The FreightCaviar Podcast. Listen to this week's podcast on Spotify & Apple Podcasts.
🎧 The Bootstrapper's Guide to Logistics is a podcast that highlights and inspires supply chain entrepreneurs, sharing their stories and building a community from the ground up.
Want to get your brand noticed by freight brokers? FreightCaviar can help. Work with us to get your services featured in our newsletter, podcast, and more. Plus, we write great articles about what you do. Get in touch with Paul at pbj@freightcaviar.com to learn more.
I’m Adriana, a writer and editor at FreightCaviar. I’ve covered everything from freight tech to industry lawsuits and market shifts, helping scale us to almost 14K subscribers. My goal: to make logistics stories digestible, clear, and fun to read.
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