Transportation Intermediaries Association

Challenging market conditions on various fronts, for freight transportation brokers and intermediaries, were the main themes of the new edition of the “3PL Market Report Fourth Quarter 2023, which was issued this week by the Alexandria, Va.-based Transportation Intermediaries Association (TIA).

A key takeaway of the report highlighted how the GDP Goods Transport Sector reading saw a 6.5% increase, from the second quarter to the third quarter, which snapped a five-quarter stretch of negative or nearly negative sequential quarter growth. And TIA noted that this was in line with the U.S. third quarter advance estimate reading of 4.9%.

The Federal Motor Carrier Safety Administration (FMCSA) late last month published a final rule titled "Broker and Freight Forwarder Financial Responsibility," which establishes procedures and requirements for the immediate suspension of broker and freight forwarder operating authority registration if the available financial security falls below $75,000.

Truckload was the only segment to see a gain for shipment volumes, up 1.9% sequentially, and down 1.4% annually. LTL was off 2.8% sequentially and 5.8% annually, with intermodal down 2.4% sequentially and 16.4% annually. Other modes were down 0.2% sequentially and 11.5% annually.

TIA’s latest 3PL Market Report shows members have managed to grow business despite challenging conditions.

During this podcast, podcast, Jeff Berman, Group News Editor for Logistics Management and the Peerless Media Supply Chain Group, interviews Ann Reinke, President and CEO of the Transportation Intermediaries Association (TIA).

In this podcast, Jeff Berman, Group News Editor for Logistics Management and the Peerless Media Supply Chain Group, interviews Anne Reinke, President and CEO of the Transportation Intermediaries Association (TIA).

In this podcast, Jeff Berman, Group News Editor for Logistics Management and the Peerless Media Supply Chain Group, interviews Anne Reinke, President and CEO of the Transportation Intermediaries Association (TIA).

Total quarterly shipments increased 6.8%, from the second quarter to the third quarter, and saw a 10.6% annual gain, and total revenue saw a 10.3% increase, from the second quarter to the third quarter, while seeing a 36.1% annual gain.

In this podcast, Jeff Berman, Group News Editor for Logistics Management and the Peerless Media Supply Chain Group, interviews Anne Reinke, President and CEO of the Transportation Intermediaries Association (TIA).

In this podcast, Jeff Berman, Group News Editor for Logistics Management and the Peerless Media Supply Chain Group, interviews Anne Reinke, President and CEO of the Transportation Intermediaries Association (TIA).

In this podcast, Jeff Berman, Group News Editor for Logistics Management and the Peerless Media Supply Chain Group, interviews Anne Reinke, President and CEO of the Transportation Intermediaries Association (TIA).

Total quarterly shipments increased 11.3%, from the first quarter to the second quarter, and were up 21.7% annually, and total revenue rose 21%, from the first quarter to the second quarter, and was up 59.1% annually. Gross margin percentage was off 110 basis points, from the first quarter to the second quarter, and was off 460 basis points on an annual basis.

Chris Burroughs, TIA vice president of government affairs, said at the SMC3 virtual Connections conference this week that passing the Motor Carrier Safety Selection Standard would clear up a lot of the confusion that exists out there in the motor carrier population, given that the FMCSA safety rating process is still done by a physical audit.

TIA officials observed that the drop in margin percent is something that has not previously occurred on the approach to recession.