A penny stock wiped $4.8B off C.H. Robinson's market cap yesterday. Plus: self-driving trucks are now running 1,000 miles nonstop, STG Logistics cleared a major bankruptcy hurdle, the FMCSA revoked nine ELDs, and more.
For a long time, secure parking lived in the “nice-to-have” bucket. That framing no longer works. In today’s environment, secure parking functions as a preventative security layer.
Here’s what’s trending across freight and logistics on X, LinkedIn, Reddit, and YouTube.
Trivia Question of the Day: What is the biggest CPG brand in the world measured by sales?
Happy Hump Day. As Florida braces for Category 4 Hurricane Idalia and suspends HOS rules for truckers, Republic Steel faces legal woes with a $4.6M lawsuit and massive layoffs. Scams in the freight industry continue, underscored by Caminantes Trucking's alarming post-accident insurance purchase. Meanwhile, the TIA Q2 report reveals a mixed bag, with modest growth in shipments but declining revenues. In our deep dive today, we explore why the $800 billion trucking industry, paradoxically, resists the consolidation trends usually seen in post-deregulated markets, spotlighting the resilience and adaptability of smaller fleets.
🤔 Trivia Question of the Day: What is the biggest CPG brand in the world measured by sales? Scroll to the bottom 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
🚚 Trucking Company Tried To Buy Insurance After Accident. Caminantes Trucking, involved in a Colorado crash that killed five, tried buying insurance post-accident for their previously uninsured truck. Court data reveals the request came just an hour after the tragedy. The driver, Jesus Puebla, faces five felonies. The company still operates despite a history of permitting unlicensed drivers and past fatal incidents. Shockingly, all 92 of their trucks lacked insurance, with a mere $21,460 penalty.
🚨 Freight Industry Scams Continue. The freight industry continues to grapple with persistent fraudulent activities, such as double brokering and identity theft. Carrier Assure's "Watch Out" list calls attention to specific carriers involved in scams and emphasizes the need for due diligence, including checking scores before tendering. ThinkFreight also highlights an ongoing issue where scammers are selling load board accounts and MC numbers for well-known companies like Amazon and C.H. Robinson on messenger apps, with payments demanded in USDT.
📊 TIA Q2 2023 Report. The TIA Q2 3PL Market Report for 2023 shows a mixed performance, with a modest 0.8% increase in total quarterly shipments but declining revenues and invoice amounts per shipment. Truckload was the only segment to see a gain in shipment volumes, while LTL and intermodal declined. Mark Christos, TIA Chair, remains optimistic, anticipating modest improvements and more stability in the market for the remainder of 2023, especially as the pandemic's impact subsides.
UNLOCK THE POWER OF OBJECTIVE PERFORMANCE DATA WITH ISO
What if you had access to this type of data the next time you cold call a Shipper? ISO is the industry’s first neutral Service Index, providing freight brokers with a platform to objectively measure their performance strengths. Gain access to industry-wide performance benchmarks, dynamic carrier & customer scorecards, and powerful analytics to raise service standards across your network. Visit iso.io to get started.
This is a summary of Craig Fuller's original article.
The trucking industry is often labeled as fragmented and enormous, boasting a market value that exceeds $800 billion—larger than domestic oil, coal, and natural gas production combined. This behemoth, paradoxically, remains resistant to the consolidation trends usually observed in post-deregulated markets.
The Motor Carrier Act of 1980 deregulated the trucking industry, allowing companies the freedom to set their own routes and pricing. The expectation was that deregulation would pave the way for consolidation. In stark contrast, the industry experienced an explosion in the number of individual, often non-unionized, trucking fleets. These new players entered the market with competitive cost structures, rapidly gaining market share, while older, unionized companies struggled to adapt and often went bankrupt.
Despite the initial belief that larger companies would swallow smaller ones, data suggests that small fleets have been the main beneficiaries of deregulation. Their growth has been further propelled by the rise of freight brokerages in the 2010s. Once a last resort for shippers, brokerages have evolved to play a more central role, enabled by advancements in technology and customer service. Brokerages now command around 30% of all truckload freight and often collaborate closely with small carriers, offering them high-quality freight opportunities without the need for extensive sales teams or tech infrastructure.
The emergence of efficient intermodal shipping systems and China's entry into the World Trade Organization have also been game-changers. These developments have expanded the demand for trucking services across fleets of all sizes. Intermodal systems, which integrate sea, rail, and truck transport, have become an efficient and cost-effective way of moving goods. The influx of imported goods, especially from China, has only fueled the need for more trucking services.
The key takeaway is that the future of trucking is not about massive consolidation or a few mega-companies monopolizing the market. It's about the resilience, adaptability, and efficiency of smaller fleets working in sync with evolving brokerage systems and adapting to global trade changes.
TOGETHER WITH ISO
We at FreightCaviar are thrilled to announce our collaboration with ISO, the industry leader in delivering unparalleled transparency and reliability in logistics performance through their one-of-a-kind scoring system.
AROUND THE FREIGHT WEB
🌀 Florida Suspends HOS Rules for Hurricane Relief. As Hurricane Idalia intensifies to a dangerous Category 4 storm, Florida suspends certain trucking regulations.
📊 Truck Driver Poll. Drivers prioritize trustworthy broker loads (35.7%) over other factors like additional pay or faster payments.
⚡ Schneider Cautious on EV Truck Expansion. Schneider increases electric truck deployment in California to comply with new emissions rules, but awaits better charging infrastructure for broader investment.
🍗 Walmart Heats Up Grocery Game with Rotisserie Chicken. Walmart aims to secure its lead in the grocery market by selling and delivering hot rotisserie chicken, with plans to expand into other meal options.
🚛 Republic Steel Loses Lawsuit, Lays Off 500. Republic Steel ordered to pay $4.6M to Pennsylvania trucking firms for unpaid invoices, and lays off 500 workers on the same day.
🛣️ Guide for New Trucking Owners. Adam Wingfield's tips for new trucking owners stress positivity, punctuality, and professionalism. Prepare, partner wisely, and prioritize your reputation.
FREIGHT MEME OF THE DAY
Answer: The biggest CPG brand in the world, measured by sales, is actually Kirkland, Costco's private label brand. It makes an astounding $52B a year — even more than Nike!
The FreightCaviar Podcast: Listen to this week’s podcast on Spotify & Apple Podcasts.
A penny stock wiped $4.8B off C.H. Robinson's market cap yesterday. Plus: self-driving trucks are now running 1,000 miles nonstop, STG Logistics cleared a major bankruptcy hurdle, the FMCSA revoked nine ELDs, and more.
Here’s what’s trending across freight and logistics on X, LinkedIn, Reddit, and YouTube.
In just three years, we have moved from an industry that relied heavily on manual phone calls and emails to one where many of us use AI to some extent to support the above.
Plus, XPO and Hub Group Q4 2025 earnings, a trucking private-equity firm files bankruptcy, Mexico long-haul truckers win union rights, 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).
