Trucking

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Austin, Texas-based freight brokerage and transportation management services provider Arrive Logistics said this week it has closed on a $25 million Series B equity financing. This round of financing was led by Lead Edge Capital.

Truckload rates, which measure linehaul rates, headed up 1.2% annually to 135.3 (January 2005=100), extending a stretch of gains going back to November 2017. On the intermodal side, total May intermodal pricing was up 4.2% annually, to 147.0, and down 1.9% compared to April.

For April, the most recent month for which data is available, the TCI came in at -0.64, representing an improvement over March’s -1.18. March represented the first time the TCI turned in a negative reading for the first time “in several” years,” according to FTR.

XPO said that the registered number of United States carriers using Drive XPO for XPO Connect reached 18,000 in April 2019, 12 months after its initial launch, and it rose to 22,000 carriers in May.

Truckers hauling Port of Oakland freight are getting in and out of town faster than ever.

The ATA’s advanced seasonally-adjusted (SA) For-Hire Truck Tonnage Index for April, at 121.8 (2015=100) headed up 7.4% on the heels of a 2% decline in March, which came in at 113.4. Compared to April 2018, SA tonnage saw a 7.7% annual gain, which represents its largest annual increase since July 2018.

The Federal Motor Carrier Safety Administration is seeking public comment on a “potential” pilot program that would allow drivers ages 18 to 20 to operate commercial motor vehicles in interstate commerce.

For March, the most recent month for which data is available, the TCI came in at -1.18, which FTR said reflects a softening environment for carriers as freight rates see continued easing, coupled with a sluggish, but positive, demand outlook.

While headlines trumpet startups that promise to fix one of freight shipping’s biggest inefficiencies, it’s too early to declare victory. Shippers must look at how can DFM help with strategic transportation challenges, not just individual shipments.

Fr8Hub said that the focus of its digital freight marketplace is on directly matching cross-border shippers throughout Mexico and the U.S.—to and from border cities—with available carriers and drivers for their loads. And it added that through a pairing of tracking and visibility for shipments in and out of Mexico, the company’s flagship offering is a streamlined, cross-border freight marketplace.

Through a mutual understanding of the perspectives for everyone involved, M.U.S.T. not only raises safety awareness to new heights, but it’s one of the ways Landstar helps customers build efficiency and productivity.

Company officials said this initiative geared towards helping businesses address challenging freight-related problems by bringing together shippers with Convoy’s engineers, data scientists, and product designers.

Lately, it seems odd when there is not any news coming about logistics inroads being made by global e-commerce bellwether Amazon. If it is not announcing a pending rollout of one-day free shipping for Amazon Prime members, then it is its entrance into the highly competitive truckload brokerage market, which came to light this week, according to various reports.

Entitled Delivery Track, Pitt Ohio said this offering leverages what it described as sophisticated data mining techniques that tie a shipment to the truck moving it, and it shows its location on a specific delivery route, while also providing real time ETA updates.