Can Freight Brokerage Be Automated?

In this week's episode of The FreightCaviar Podcast, we talked about the future of freight brokerage and how/when it will be automated with Anthony Fecarotta (Founder & President of linehaul.ai). Tune in on Apple Podcasts, Spotify, and YouTube.

🤔 Question of the Day: What is the top supply chain disruptor for 2024, according to Everstream.ai's latest Risk Report? Find out in today's main story.

TOP LANE MOVERS POWERED BY GREENSCREENS.AI

*Greenscreens.ai, forecasts real-time truckload buy prices that are suited to each freight brokerage's purchasing power using AI and machine learning. Its engine takes into account over 130 attributes and data points in each rate forecast.

🐔 WHAT’S COOKIN’ IN FREIGHT

🤯 The Wild Story of "G Face": King of Double Brokers and DEA Informant. Meet Yuri Khatchikyan, aka "G Face," the self-proclaimed "King of Double Brokers." Known for his viral TikToks, G Face boasts about his trucking empire while facing accusations of being a scammer. But here's the kicker: court docs reveal he's been a DEA informant since 2005, providing intel against the Mexican Mafia. Despite his sketchy past, G Face insists he's a legit businessman. With him now behind bars, he's under protective custody for his safety.

☀️ Arrive Logistics: May 2024 Freight Market Update. Arrive Logistics just dropped their latest update, and there’s a lot to unpack. Truckload demand is soft but steady, with spot market activity up nearly 7% year-over-year. Capacity is volatile, showing a 19% decline in truck postings amid ongoing exits. Rates are rising ahead of the 100 Days of Summer, with reefer spot rates jumping $0.07 to $1.89 per mile. Diesel prices are below $4.00 per gallon but may rise with summer demand. Import forecasts call for over two million TEUs monthly, supporting OTR freight demand.

🚢 Why Are Ocean Freight Rates Spiking Again? The Drewry World Container Index shows rates were up 11% last week. From the Far East to the US West Coast, rates jumped 29% in May. Xeneta’s Emily Stausbøll blames record demand and the Red Sea crisis for squeezing capacity. Add in new US tariffs on Chinese imports and potential labor disputes on the US East Coast, and you’ve got a recipe for sky-high prices. Twitter users speculate that shipping lines are "parking" boats to create a supply shortage. Expect continued volatility and higher costs as peak season approaches.

TOGETHER WITH TRUCKER TOOLS

TOMORROW: May 21st at 12pm EST: Join us for the first-ever FreightCaviar LinkedIn Live, sponsored by Trucker Tools. PBJ, Co-Founder of FreightCaviar & ShipperCRM, will sit down with Reed Loustalot, Chief Everything Officer of LostFr8, and Kary Jablonski, CEO of Trucker Tools.

• We'll discuss all things related to produce season.

• Special Guest: Bill Loupee, COO of Ben B Detroit (a produce shipper).

• We will also be hosting a produce meme contest, with the winner receiving Trucker Tools merchandise.

• PLUS: Produce Meme Contest. Send us your funniest produce season memes to info@freightcaviar.com. The winner will receive Trucker Tools merch.

Click here to RSVP.

Top 5 Supply Chain Risks for 2024

From agricultural shortages to extreme weather, Everstream.ai's 2024 Risk Report highlighted the top five global supply chain risks for 2024. Let's reflect on these predictions and provide an update on how things are playing out as of May 2024.

Everstream.ai specializes in identifying and mitigating supply chain risks through advanced data analytics and AI-driven insights. Here are the top five issues ranked from the lowest to highest risk percentage.

#5. Suppliers Run Out of Core Agricultural Items

Commodity shortages are expected to peak due to high input prices, farm profitability concerns, protectionism, and extreme weather events.

4. Tensions Escalate in Taiwan

3. Protectionist Measures Block Technology

Trade wars are ramping up, especially between the U.S. and China. Export controls are tightening.

2. Environmental Regulations Overwhelm Operations

Growing environmental regulations, even for companies with existing ESG policies, are expected to cause significant disruptions.

1. Extreme Weather Wrecks Delivery Dates

Extreme weather events were the top logistics disruptor, and they’re only getting worse.

TOGETHER WITH ISO: Watch out! These key markets saw the biggest service drop-offs over the past month across the ISO* network.

*Isometric Technologies' (ISO) Service Index helps brokers scorecard, benchmark, and source by service level performance across their customer and carrier network. ISO Scores are a composite of OTD, OTP, and Bounce Rates.

🌎 AROUND THE FREIGHT WEB

🚂 West Coast Freight Preferences. Despite lower truckload rates, 77% of CNBC survey respondents favor rail over trucking for west-to-east freight, reflecting a continued preference for intermodal transport, even as the impact on 40' and 53' containers remains uncertain.

🤖 Werner Expands AV Truck Pilots. Werner Enterprises plans to double its autonomous truck pilot partnerships this year while gradually evaluating self-driving technology.

🌿 ATA Marijuana Warning. The ATA warns that reclassifying marijuana to Schedule III could impede drug testing for truck drivers, increasing highway safety risks.

🛑 CBP Seizes $5.4M in Meth. CBP officers at Pharr International Bridge seized 606 pounds of methamphetamine worth $5.4 million from a commercial shipment of papayas.

🌉 Key Bridge Recovery Efforts. New footage from the U.S. Army Corps of Engineers shows ongoing recovery efforts at the Francis Scott Key Bridge collapse, with significant obstacles before the Dali cargo ship can be refloated and the channel fully reopened.

🚀 SpaceX Booster Transport. A video captures a truck hauling a massive SpaceX rocket booster.

🚚 Hydrogen Trucks in Action. Talon Logistics posted a video showcasing their Nikola Hydrogen-fueled semis.

🎣 FREIGHT CAVIAR CORNER

In this week’s episode, we sat down with Anthony Fecarotta, Founder & President of linehaul.ai. Anthony brings us through his road to success, starting at XPO as an Account Manager, later The Grane Companies, Schneider National, Covenant, and Everest. He unveils his future plans for linehaul.ai, and shares his thoughts on the future of AI, the importance of human element in freight, and why he thinks it’s too soon for an AI revolution in logistics.

Tune in on Apple Podcasts, Spotify, and YouTube.

FREIGHT MEME OF THE DAY

Also, check out:

• 🎧 The FreightCaviar Podcast. Listen to this week's podcast on Spotify & Apple Podcasts.

• Want to get your brand noticed by freight brokers? FreightCaviar can help. Work with us to get your services featured in our newsletter, podcast, and more. Plus, we write great articles about what you do. Get in touch with Paul at pbj@freightcaviar.com to learn more.