According to Kevin Hill of Brush Pass Research, April looks like “a floor” for the freight market. Load volumes and miles were UP across dry van, flatbed, and reefer, while total line-haul spend was DOWN. The chart below compares April 2023 and April 2024. Everyone knows that the market has suffered in recent months. Due to the downturn, there are now 10.8% fewer freight brokerages than there were this time last year. If April sets a floor, there could be brighter days ahead. Farelanes LLC is the source of April’s data, which you can access and connect directly to your existing platform or systems. Interested in learning more? Get in touch with us: https://lnkd.in/gr7G6e-X #pricing #trucking #transportation #supplychain #logistics #data
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April 2024 is in the books and it was another challenging month according to rate data from Farelanes LLC. About the 25th or 26th challenging month in a row for the freight markets. Rates per mile were down across the board for all major trailer modes compared to April 2023. Load counts did improve YoY along with miles driven. Accessorials ticked up, while transportation spend and length of haul took another dip. Please reach out to Casey Larkin with any questions on the data. Brush Pass Research #trucking #logistics #freightbroker #freightsales #freighttech
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According to Brush Pass Research, freight brokerages closures accelerated again YoY in March 2024 at (10.6%). There are now 27,450 freight brokerages with active MC numbers compared to 27,864 one month ago. Learn more from Kevin Hill's research by clicking the link in the comments. #FreightStatsFriday #JourneyDelivers
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According to Brush Pass Research, freight brokerage closures slightly accelerated YoY in April, inching up to -10.8% year-over-year compared to -10.6% last month. There are now 27,206 active freight brokerages compared to 30,406 at this time last year. Click the link in the comments to ready the full report by Kevin Hill. #JourneyDelivers #FreightStatsFriday #Freight #Stats
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The future of freight brokerage is at a crossroads. It remains uncertain whether the number of active brokerages will stabilize at pre-pandemic levels or if many of the new brokerages will endure. The adaptability of the industry will be a critical factor in shaping its future trajectory. Understanding and responding to evolving market dynamics will be essential for survival and growth. The resilience and flexibility of brokerages will dictate their ability to navigate upcoming challenges and capitalize on opportunities. Discover more about the future of freight and logistics at brushpassresearch.com #FreightForwarding #LogisticsIndustry #SupplyChainInnovation #MarketAdaptation #BrushPassResearch Seeking deeper insights? Contact us at +1 646-731-4735
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According to Brush Pass Research, the Pareto principle plays out in freight brokerages as well - the largest 1000 brokerages generate 88% of all gross revenue. Click the link in the comments to read the full report by Kevin Hill. #JourneyDelivers #FreightStatsFriday #BrushPassResearch
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Did you know that early-stage data, captured before AIS trade flows, bills of lading, or cargoes loaded, can provide intriguing insights into market behavior? While examining agricultural product demand in the Gulf of Mexico region via the Shipfix platform, we can see a positive correlation with the Baltic Exchange rates for Handymax vessels. This relationship provides an advanced signal of potential freight rate shifts, giving operators critical lead time to adjust strategies. Senior Product Manager Philippe Pagnotta shares other examples of how pre-emptive data on supply and demand can uncover powerful correlations between freight rates and laycan times. Read the blog to learn more. #Demurrage #Laytime #Shipfix #Maritime #ShippingIndustry #Veson
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🔥 I'm reposting these brokerage revenue numbers from Kevin Hill as they concur with the numbers released by TIA last week. I wonder if the decrease in total revenue and GP per load will push SOME of these brokers from a profit overall in 2023 into a total loss situation in 2024. At TIA last week, I heard speculation that H1 2024 so far is even worse than H2 2023 for many of them (lots of talk, rumors, and speculation at TIA last week as usual, lol). If that's the case...we are now likely dragging the bottom - but, for "how long" is the BIG question (???) Good data from Kevin as usual. 🏆 Tim at AscendTMS (TheFreeTMS.com) By InMotion Global, Inc.
2023 freight brokerage revenues declined -15.1% based on our analysis at Brush Pass Research. 2022 gross revenue for the freight brokerage industry is based on Armstrong & Associates, Inc. and Transport Topics' $159 billion estimate. Brush Pass Research’s 2023 industry gross revenue estimate of $134.9 billion are based on our own internal analysis of brokerage employees and other proprietary data points. Some of the key points found in our analysis includes: ✔ The industry is dominated by the largest freight brokerages. Our estimates show the largest 150 freight brokerages account for 70% of the industry’s gross revenues. ✔ The top 3.5% of the 27,450 freight brokerages with active authorities, account for 88% of gross revenues. ✔Freight brokerage gross revenues are still 56% higher than 2019. ✔ Freight brokerages control roughly 300,000 truckloads per working day. ✔ At a 15% average gross margin, freight brokerages true net sales for 2023 were estimated to be $20.24 billion. You can find all of our free research at www.brushpassresearch.blog #trucking #logistics #freightbroker #freighttech #freightsales #thelastsale
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I help you build championship teams for a greater purpose. Recruiting in 3PL, logistics and transportation.
These are great numbers to read through by Kevin Hill and Brush Pass Research. One thing that sticks out is while numbers are down; the net revenue is still higher than it was in 2019. Meaning there is a lot freight still to be moved, and money being made, perhaps just not as profitably as you’d like. Resetting expectations is crucial, and with all the M&A and closures of transportation companies, there’s more #talent available in the market than there’s been in the last couple of years. Stock up. Don’t be flat footed when the next bull hits. #checkcover3
2023 freight brokerage revenues declined -15.1% based on our analysis at Brush Pass Research. 2022 gross revenue for the freight brokerage industry is based on Armstrong & Associates, Inc. and Transport Topics' $159 billion estimate. Brush Pass Research’s 2023 industry gross revenue estimate of $134.9 billion are based on our own internal analysis of brokerage employees and other proprietary data points. Some of the key points found in our analysis includes: ✔ The industry is dominated by the largest freight brokerages. Our estimates show the largest 150 freight brokerages account for 70% of the industry’s gross revenues. ✔ The top 3.5% of the 27,450 freight brokerages with active authorities, account for 88% of gross revenues. ✔Freight brokerage gross revenues are still 56% higher than 2019. ✔ Freight brokerages control roughly 300,000 truckloads per working day. ✔ At a 15% average gross margin, freight brokerages true net sales for 2023 were estimated to be $20.24 billion. You can find all of our free research at www.brushpassresearch.blog #trucking #logistics #freightbroker #freighttech #freightsales #thelastsale
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Some freight markets are showing strong signs of resilience and recovery in 2024's final quarter, according to a recent FreightCaviar article. Greenscreens.ai data highlights five key markets—Tucson, Richmond, Louisville, Stockton, and Pendleton—where rate increases are breaking past trends. From Tucson’s booming reefer market to Pendleton’s van shipments, it's clear that freight markets are finding ways to bounce back. 📈 At Waggon, we're optimistic about the future. With our agile and robust network, we’re ready to support you through these market shifts—no matter the challenge or season. Talk to us about your plans for the future. 👉 waggon.io #FreightMarket #LogisticsRecovery #WaggonWay #ResilientFreight #FreightTrends #LogisticsIndustry #FreightNews
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Did you know that the freight brokerage industry has rebounded from every major decline stronger than before? What makes this time different, or will history repeat itself? This analysis not only informs but also equips industry stakeholders with the foresight to strategically plan for the future. Delve into the full historical analysis and more at brushpassresearch.com #FreightBrokerage #SupplyChainHistory #MarketTrends #LogisticsInsights #IndustryAnalysis For more insights and strategic guidance, call us at +1 646-731-4735
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