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FreightWaves Today episodes
- 4th Carrier Update 02/24/2023
Lanes of the Day
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5 min - Technology and freight, the good, the bad and the misunderstood
Ryan Rogers - CEO - Text Locate
Matt McLelland - VP for Innovation - Covenant Transport
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12 min - 3rd Carrier Update 02/24/2023
What is AGRATE?
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6 min - What’s behind the never ending freight brokerage layoffs?
- What was the cause?
- Was this a compilation of bad hiring mistakes coupled with an inability to see how fragile the market was when it was so high? Or was this a money grab to get as much as possible knowing that the environment was not sustainable and that layoffs would be coming anyway?
- We’ve heard from a number of companies, not a ton of them - yet we also really haven’t seen a definite bottom to this freight downturn - do you expect to see more?
- How trustworthy does this make freight brokerages look when they hire during the good times and then layoff during the bad times - nobody is saying “we made a mistake” here yet the brokers are painting a picture of “we’re not trustworthy”
- Post pandemic, we’ve entered a new normal where volatility is the norm - do you see freight brokerages continuing on as normal or will there be any changes in practices?
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10 min - Where does it make sense to operate your supply chain?
Andrew Lockwood - Senior Director, managed Logistics - Suddath Global Logistics
I've done some research, cross-referencing 2022 Port TEU data, market warehouse vacancy rates, and current warehouse construction by sq feet to try and figure out what's the best/optimal supply chain approach in 2023 and beyond with regard to where the best places are to import containers relative to US population, which warehouse markets are the tightest for space and where shippers can drive down overall costs in their supply chain. Think of it as what Clark Howard would do to help your supply chain save a buck.
A few fun facts: as of this morning, it costs a mere $1400 more to ship from China to East Coast vs. to the West Coast. Based on this year's census data, only roughly 20% of the population lives in the Western third of the US vs. the 28% in the central US and 51% on the east coast. If you're selling to the entire US, the most under-utilized ports are Houston and Norfolk. Why pay the $4000 cross-country rate from LA to Norfolk when you could pay $1400 extra to the ocean line + drayage?
Looking to store things at the cheapest rate? Try the cities with the loosest vacancy rates and lowest rates (Memphis TN, Cincinnati, Dallas, and Atlanta)
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11 min - 2nd Carrier Update 02/24/2023
OTVI rebounds back above 10,000 index points
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6 min - The Effect of Pandemic on Pharmaceutical Supply Chain
- Generic drug manufacturers were at a major loss during the pandemic - much more than we’d like them to be.
- Nearshoring is not a quick option.
- Given our experience through the pandemic, how much of this is (a) a just in case solution where we have a backlog of medications ready for distribution?
- And (b) how much of it is a homeland security issue in terms of being able to get drugs to people when they need them when those drugs are manufactured - or the main ingredients in them are found - overseas?
- Any idea as to how the big three manufacturers did over this time - I know we were seeing a lot of children’s medication reach critical levels in certain areas of the country.
- What was the big takeaway for you from this interview?
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11 min - 1st Carrier Update 02/24/2023
Diesel fuel prices drop, spread remains above $1.50
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6 min - Reports: Locomation is out of business at month’s end
Topic: Reports: Locomation is out of business at month’s end
- Alan, what do you know?
- What happened?
- Is this a casualty of the economic times we’re living in or perhaps bad decision making internally - or both?
- Was Locomation the only company in the autonomous space to be working with the convoy model - and if so, do you see anyone else that might pick up the baton if they saw at least the idea of convoy trucking as a positive step forward?
Topic: Nikola could be out of money in 12 months
- Then of course there is the story that Nikola may be out of money in 12 months - what can you tell us there?
- How bothersome is this coming right after they announced their integration with Plus technology?
- Will they be able to weather this or are they looking for a buyer and try to become part of a larger company?
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12 min - 4th Carrier Update 02/17/2023
Lanes of the Day
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5 min
About FreightWaves Today
From the publisher's feed
FreightWaves NOW is your daily source for the most impactful news in logistics. We break down the complex world of freight—covering trucking, rail, air, and ocean markets—to bring you actionable…
insights. Whether you are a carrier, shipper, or broker, we provide the data-driven context you need to navigate a volatile market.
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