Global freight markets face another challenging year from geopolitical tensions, uncertain trade policies and slack capacity. In this episode of the Talking Transports podcast, Bloomberg Intelligence senior transportation and logistics analyst Lee Klaskow shares how 2026 may play out for North American trucking, railroad and freight brokerage markets, as well as the global parcel and shipping sectors. An acceleration in the rate of capacity leaving the truckload market could ripple across less-than-truckload, freight brokerage and railroad industries, setting up for a better year than 2025. Technology-driven productivity investments could help offset a tepid demand backdrop and support improved margins. Supply growth is expected to outpace containerliner demand, which will weigh on rates and earnings.

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Geopolitical tensions, a fractured regulatory landscape and shifting trade patterns are reshaping the maritime industry in ways not seen in decades. In this episode of the Talking Transports podcast, maritime historian and former merchant mariner, Sal Mercogliano, joins Lee Klaskow, Bloomberg Intelligence senior transportation and logistics analyst, to break down the forces redefining global shipping. Mercogliano discusses the risks surrounding the Red Sea and Suez Canal, the rise of the shadow fleet and the challenges facing the IMO’s ambitious decarbonization goals. He also examines US shipbuilding ambitions, Jones Act reform and the critical role of the Merchant Marine in national security. Mercogliano shares insights from his seafaring career, his academic work and his popular YouTube channel, offering a wide-angle perspective on the future of maritime trade.

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The advent of artificial intelligence and machine learning has opened a new era of productivity gains for freight brokers, capacity owners and shippers. Supply chains are still in the early stages of adopting these tools, creating significant opportunities over the next several years. In this episode of the Talking Transports podcast, Augment CEO and co-founder Harish Abbott joins Lee Klaskow, Bloomberg Intelligence senior transportation and logistics analyst, to discuss how AI is reshaping the freight industry. Abbott outlines how Augie, Augment’s AI teammate, automates end-to-end brokerage workflows — from order to cash — while improving service levels and reducing costs. He also reflects on the challenges of scaling AI talent, the importance of change management, and how his early career at Amazon sparked his passion for fixing logistics’ inefficiencies.

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The Trump administration’s policies could have profound effects on the marine shipping industry that go well beyond US shores. In this Talking Transports podcast, former US Federal Maritime Commission Chairman Louis Sola joins Lee Klaskow, Bloomberg Intelligence senior transportation and logistics analyst, to discuss the shifting landscape of US maritime policy. Sola shares insights on shipbuilding challenges, tariff impacts, chokepoint vulnerabilities and the importance of strengthening national security through a resilient supply chain. He also reflects on restarting the cruise industry during Covid-19, his work combating sanctions evasion and his new role advising clients on trade, energy and infrastructure. Sola talks about how his time in the US Army put him on the path toward a career in transportation, which has included selling luxury yachts, and his time in public service.

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The North American freight market is soft, with excess capacity and uncertainty in manufacturing, retail and housing weighing on demand. In this episode of Talking Transports, ArcBest Chairman and CEO Judy McReynolds joins Bloomberg Intelligence’s senior transportation and logistics analyst, Lee Klaskow, to discuss how the company is navigating the prolonged freight recession. McReynolds shares how ArcBest is leveraging technology, AI and data to drive efficiency — from route optimization to dock automation — and how acquisitions like MoLo have strengthened its integrated logistics network. She also reflects on her career, the lessons she’s learned and offers advice to future executives, especially women entering transportation.

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Marine cargo ports serve as the conduits connecting global and regional economies, and their ability to run efficiently can be felt near and far. In this Talking Transports podcast, American Association of Port Authorities’ (AAPA) Vice President of Government Relations John Bressler, joins Lee Klaskow, Bloomberg Intelligence senior transportation and logistics analyst, to unpack the policies shaping US seaports and what his trade organization is doing to push for more federal infrastructure funding. Bressler also discusses rail consolidation, shipbuilding incentives, tariffs and automation, stressing balance between efficiency, labor and security. With ports investing in decarbonization, dredging and digitalization, he says smarter infrastructure and collaboration will keep America’s maritime network competitive and resilient.

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Rising insurance costs have been a major headwind facing the trucking markets and things might not improve anytime soon. Insurance premiums could grow by double digits for another year in 2026 due to increased litigation and fraud, along with fewer companies writing trucking policies. In this Talking Transports podcast, Reliance Partners’ co-founder and CEO Andrew Ladebauche and Thom Albrecht, the company’s chief revenue officer, join Lee Klaskow, Bloomberg Intelligence senior transportation and logistics analyst, to discuss the state and outlook of the trucking-insurance market. The conversation also delves into strategies for mitigating costs, the need for reform and better regulatory practices to ensure safety and sustainability in transportation, as well as why many fraudsters are apparent fans of Tommy Tutone.

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The transportation and logistics M&A market may be quiet, but there are still pockets of strength. In this episode of Talking Transports, Tenney Group CEO Spencer Tenney joins Bloomberg Intelligence’s senior analyst Lee Klaskow to discuss what kinds of deals are getting done and how technology is becoming a key differentiator for freight brokers. They also touch on valuations, seller motivations and why next year could bring market stabilization, smarter deals and fresh opportunities for owners ready to adapt — or exit — before the next freight cycle turns.

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More and more women are entering the trucking industry, but remain underrepresented. They account for only about 10% of truck drivers and 4% in technician roles. In this Talking Transports podcast, Jennifer Hedrick, president and CEO of the Women in Trucking Association (WIT), joins Lee Klaskow, Bloomberg Intelligence senior transportation and logistics analyst, to discuss what the organization is doing to attract more women into the trucking industry, from the driver’s seat to the C-suite. Access to safe parking and more focused gender amenities would go a long way toward making over-the-road truckling more appealing for women, she says. Hedrick also discusses the association’s work in Washington, DC; members’ outlooks on trucking; outreach programs; and even style advice, suggesting I should rock a red tuxedo at WIT’s upcoming Accelerate Conference.

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The outlook for the global container rates isn’t encouraging for fleet owners, with supply expected to outpace demand next year. The Trump administration’s protectionist policies are only complicating matters for the industry. In this Talking Transports podcast, Peter Sand, Xeneta’s chief analyst, joins Lee Klaskow, Bloomberg Intelligence senior transportation and logistics analyst, to share his outlook for the liner market. The backdrop will weigh heavily on rates in 2026, with spot declines outpacing longer-term decreases. Though not Xeneta’s main scenario, a reopening of the Suez Canal would increase capacity by about 10-15%, putting additional pressure on rates. Sand also talks about USTR and China port fees, air-freight markets, emerging trade lanes and his love for death metal.

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