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Trans-Pacific ‘going crazy’ as demand defies pandemic pessimists

Article written by Greg Miller Rates now top $3,000 per 40-footer — and they’re still rising  Shippers race to bring cargo into California (Photo: Port of Los Angeles) China-U.S. West Coast container rates continue their astonishing climb. Not because of too little vessel supply, but because of too much import demand. U.S. import demand that […]

Digital Freight: The Race to Automate Truck Brokerage

Written by Benjamin Gordon In the race to digitize the truck brokerage market, will the winner be an incumbent or a challenger? The upside is enormous. Trucking is a $734 billion market. Truckload and less-than-truckload revenue constitute close to $400 billion. If 20% of that market is outsourced, then truck brokerage spending totals $80 billion. […]

The Rise of Digital Freight Matching and How It Works – By Rafael Granato – Supply Chain 247

U.S. Trucking Companies Many people don’t realize it, but the majority of U.S. trucking companies are not large organizations like Knight-Swift, J.B. Hunt, and Schneider. In fact, about 97% of carriers in the U.S. operate 20 or fewer trucks (while 90% of those operate with six or fewer trucks). The national economy depends on trucks to deliver […]

FreightTech investment surges in 2019 – FreightWaves – Linda Baker, Staff Writer

PitchBook and FreightWaves have crunched the numbers and confirmed what most of us already know – the FreightTech sector, defined loosely as software companies that aid in the movement of freight, is on a tear. FreightTech growth has an analog in the broader transportation services category, with four of the five largest venture capital deals […]

FreightWaves featured in the Breakout List of high potential and growth startups – FreightWaves – Linda Baker, Staff Writer

The Breakout List of high potential and high growth start-ups for 2019 has been published, and FreightWaves is on the list, finding itself in the company of several renowned companies including Flexport, Clearbit, Bolt, Airtable, Reserve, comma.ai and DeepMind. To perceive the list’s relevance, it is essential to understand the essence of ‘breakout trajectory,’ and […]

Private-Equity Firms Buy Trucking Freight Services Companies – WSJ – By Jennifer Smith

By Jennifer Smith Private-equity firms bought two big freight-services providers in separate deals announced Wednesday, the latest in a string of investments in businesses that help manage the flow of goods through supply chains. Iconiq Capital LLC acquired a majority stake in Internet Truckstop Group LLC, whose Truckstop.com online freight marketplace connects shippers with available […]

Roadie Gains $37 Million to Expand Crowdsource Delivery Business – WSJ – By Erica E. Phillips

By Erica E. Phillips Crowdsourced delivery company Roadie Inc. has raised $37 million in new funding that includes investment from Home Depot Inc., boosting dollars available for marketing efforts with big retailers and for building out its technology. The Atlanta-based startup has been providing same-day delivery services through its “on-the-way” model, which uses an app […]

SoftBank’s Vision Fund Leads $1 Billion Funding Round for Shipping Broker Flexport – WSJ – By Erica E. Phillips

ByErica E. Phillips SoftBank Group Corp.’s Vision Fund is diving into the global freight business, leading a new $1 billion round of funding in Flexport Inc., a six-year-old international shipping broker built by Silicon Valley technology developers. Based in San Francisco, Flexport arranges ocean- and airfreight shipments for retailers and manufacturers—a $2 trillion global business […]

Freight Operators Dismiss Threat of Digital Startups – WSJ – By Erica E. Phillips

Established U.S. logistics firms say digital-friendly freight startups that are drawing growing interest in Silicon Valley still lack the scale and customer relationships to threaten their share of the market. Executives at C.H. Robinson Worldwide Inc., CHRW 0.77% the biggest broker of freight services in the U.S., said their large-scale shipper customers are looking for […]

Why Road Freight Needs to Go Digital—Fast

Road freight incumbents may not like it, but disruption from digital challengers is on their doorstep. Having transformed consumer-oriented industries such as retail, entertainment, and travel, digital startups are beginning to make inroads in commercial-oriented industries. Road freight, which is highly fragmented and dominated by manual processes, is seen by digital challengers as overdue for […]