Loadsmart CEO Ricardo Salgado Named as an EY Entrepreneur Of The Year® 2020 New York Award Finalist

Digital Freight Tech Company Founder Recognized Among Entrepreneurs Whose Ambitions Transform Our World

NEW YORK, Aug. 20, 2020 — Today, Loadsmart, a leading digital freight technology company, announced Ricardo Salgado, founder and CEO, was named an Entrepreneur Of The Year 2020 New York Award finalist. In its 34th year, the Entrepreneur Of The Year program honors entrepreneurial business leaders whose ambitions deliver innovation, growth and prosperity as they build and sustain successful businesses that transform our world. Selected by a panel of independent judges comprising former winners and business leaders from various industries, Salgado’s forward-thinking approach to reimaging logistics has led to unparalleled industry offerings, fruitful strategic partnerships and a dynamic workplace that fosters innovation.

“At Loadsmart, we are consistently pushing the boundaries of innovation and challenging legacy processes with the goal of transforming the future of freight,” Salgado stated. “This recognition solidifies the merits of our unique approach and I am honored to be named a finalist for the Entrepreneur Of The Year 2020 New York Award.”

A native of Colombia, Salgado moved to the U.S. to pursue an engineering degree at the Georgia Institute of Technology. From there, he joined Goldman Sachs in New York and worked his way up to managing director of principal investing. During his time at the investment bank, Salgado saw first-hand the inefficiencies in the supply chain and identified an opportunity to transform a legacy industry — transportation — by viewing long standing barriers from a technology perspective. Drawing on his engineering background, passion for technology and dedication to innovation, he founded Loadsmart.

Entrepreneur Of The Year is one of the preeminent competitive award programs for entrepreneurs and leaders of high-growth companies. Nominees are evaluated on six criteria: overcoming adversity, financial performance, societal impact and commitment to building a values-based company, innovation, and talent management. For a full list of New York finalists, please visit: https://www.ey.com/en_us/entrepreneur-of-the-year/new-york/finalists

Award winners will be announced at a virtual event in early October and will join a lifelong community of esteemed Entrepreneur Of The Year alumni from around the world. This year, unstoppable entrepreneurs who have provided extraordinary support for their communities, employees and others during the COVID-19 crisis will also be recognized for their courage, resilience and ingenuity.

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[WEBINAR] The Smart Way to Move Spot Market Freight

Moving freight on the spot market can feel like the wild west… but it doesn’t have to.

Join Casey Monahan, Director at Loadsmart, and Keith Caruso, Operations Manager at Kuebix, and see how shippers of any size overcome market volatility in the spot market — without heavy lifting.

You’ll learn…

  • How to supplement existing capacity with reliable alternatives
  • How to book the best price available in the spot market
  • How to eliminate surprises and improve visibility by tracking freight in near real-time

On-Demand Webinar:

Slides:

Loadsmart and Blue Yonder Partner to Provide Customers Instantly Bookable Truckload Rates

Integration Offers Shippers Real-Time Rates and Guaranteed Capacity Within Blue Yonder Dynamic Pricing Discovery Solution

SCOTTSDALE, Ariz. and NEW YORK – July 21, 2020 – Loadsmart, a leading digital freight technology company, today announced a technical integration of its digital freight platform with Blue Yonder, a leading digital supply chain platform provider. The integration allows joint transportation management customers to significantly reduce costs and improve efficiency by providing access to Loadsmart’s instantly bookable truckload rates and guaranteed capacity through Blue Yonder’s dynamic pricing discovery solution.

“Transportation is becoming increasingly digitized and shippers have realized there is an opportunity to improve operational efficiencies by better integrating systems and processes with their 3PL and carrier counterparts,” said Hunter Yaw, VP of product management at Loadsmart. “With the Blue Yonder-Loadsmart integration, shared customers will be able to retrieve timely, competitive truckload rates for every shipment in seconds. Shippers can then tender the load automatically using Blue Yonder’s solution.”

For many shippers, the ability to instantly secure shipping rates and capacity is crucial to controlling costs amidst challenging, rapidly changing market conditions. This has proven especially true in light of the COVID-19 pandemic, which has upended the industry. However, companies have long struggled with routing guides because they are often outdated and contain static rates that are out of sync with market fundamentals. 

The dynamic pricing discovery solution integrates with Blue Yonder’s LuminateTM Platform, which is powered by Microsoft Azure. Luminate Platform combines data from both internal and external sources — spanning shippers’ digital supply chain ecosystems — to leverage both artificial intelligence (AI) and machine learning (ML), enabling smarter and more actionable business decisions. 

Now, when a primary carrier declines a shipment and the load hits the routing guide, a real-time rate from Loadsmart will be dynamically inserted in advance of the next best option. Once the next lowest rate is uploaded from Loadsmart, the load can be automatically tendered with 100% acceptance. 

“We are looking forward to partnering with Loadsmart to use technology to solve a decades old challenge for shippers,” said Terry Norton, VP of 3PL and transportation at Blue Yonder. “Our Luminate Platform, powered by AI and ML, will provide real-time visibility and pricing to allow shippers and freight carriers to leverage the dynamic pricing discovery solution to have integrated and seamless access to pricing and capacity to make better and more profitable business decisions.”

Ready to learn more? Click here to book a demo with a member of our

About Blue Yonder

Blue Yonder (formerly JDA Software) provides seamless, friction-free commerce, empowering every organization and person on the planet to fulfill their potential. Blue Yonder’s machine learning-driven digital fulfillment platform enables clients to deliver to their customers when, how and where they want it. Applying over 35 years of domain expertise, contextual intelligence and data science, Blue Yonder is helping more than 3,000 of the world’s leading manufacturers, retailers and logistics companies create more autonomous, sustainable and profitable operations. blueyonder.com

“Blue Yonder” is a trademark or registered trademark of Blue Yonder Group, Inc. Any trade, product or service name referenced in this document using the name “Blue Yonder” is a trademark and/or property of Blue Yonder Group, Inc. 

About Loadsmart

Transforming the future of freight, Loadsmart leverages artificial intelligence, machine learning and strategic partnerships to automate how freight is priced, booked and shipped. Pairing advanced technologies with deep-seated industry expertise, Loadsmart fuels growth, simplifies operational complexity and bolsters efficiency for carriers and shippers alike. For more information, please visit: https://loadsmart.com.

Contact  

Marina Renneke, APR
Blue Yonder
Marina.Renneke@blueyonder.com
(480) 308-3037

Emily Senninger
Havas Formula for Loadsmart 
loadsmart@havasformula.com
(619) 234-0345   

Loadsmart Partners with Kuebix to Deliver Instant Spot Rates

Shippers Can Now Access Real-Time Loadsmart Spot Quotes for Truckload Shipments in Kuebix Community Load Match

June 29, 2020 (Maynard, MA) Kuebix, a Trimble Company, and leading transportation management system (TMS) provider and creator of the Kuebix shipping community, and Loadsmart, a digital freight technology company, today announced that every shipper in Kuebix can now receive real-time Loadsmart spot quotes on truckload shipments. The collaboration builds upon Kuebix’s current API integration with Loadsmart’s digital freight platform with an “all-access” API integration that automatically provides live Loadsmart freight rates to any Kuebix user looking for a truckload spot quote.

“At Loadsmart, we are really proud of our work with Kuebix and the value we deliver to our joint customers,” said Casey Monahan, Director of SME at Loadsmart. “Combining a best in class TMS with instantly bookable spot quotes is a game-changer that reduces phone calls and lag time, allowing customers to book the best price instantly and track it all in real time 24/7. With a deep collaboration  at many levels, a strong understanding of our customers, and a long term strategy, we not only provide the value clients want, but the exceptional service they need.”

Loadsmart Provides Instant Truckload Spot Quotes in Kuebix

When a Kuebix user searches for a truckload spot rate in Community Load Match, a real-time Loadsmart rate will appear that can be immediately booked and managed in the Kuebix TMS. The addition of instantly bookable Loadsmart rates further enhances Community Load Match’s current contract and spot rate capabilities. Community Load Match’s rapidly growing carrier community, powered by Trimble’s network of 1.3 million commercial trucks, offers access to contract rates for shippers with regular lanes. For small- to medium-size businesses (SMBs) and shippers with occasional spot requirements, Community Load Match provides competitive spot rates when shippers don’t have the volume to set up contract rates. For carriers, Community Load Match’s spot opportunities help to balance lanes, offset empty miles and reposition assets.   

“Growing our strategic collaboration with Loadsmart makes our community even stronger,” said Peter Coumounduros, General Manager Load Match Group, Kuebix. “Our goal is to remove the friction from finding and securing trucks. We are extremely pleased to have Loadsmart’s real-time spot quotes available to all shippers in Community Load Match, as this new capability makes the sourcing process even more efficient.” 

To help companies manage their supply chains efficiently in today’s market environment, Kuebix is offering shippers 60 free days of its award-winning Kuebix Business Pro TMS. With Kuebix Business Pro, logistics teams can collaborate remotely across multiple locations, source spot and leverage actionable reports and analytics for improved strategic shipping decisions. 

Ready to learn more? Click here to schedule time with a member of our team.

About Loadsmart, Inc.

Transforming the future of freight, Loadsmart leverages artificial intelligence, machine learning and strategic partnerships to automate how freight is priced, booked and shipped. Pairing advanced technologies with deep-seated industry expertise, Loadsmart fuels growth, simplifies operational complexity and bolsters efficiency for carriers and shippers alike. For more information, please visit: https://loadsmart.com.     

About KuebixKuebix, a Trimble (NASDAQ: TRMB) Company, provides a transportation management system (TMS) that powers one of North America’s largest shipping communities. Kuebix is transforming the transportation industry with a common TMS platform for shippers, carriers and intermediaries to enable new levels of visibility and efficiency for the entire market. By connecting all logistics stakeholders on a single platform, shippers gain access to available capacity and competitive pricing, while brokers and carriers increase their business and gain superior asset utilization. Kuebix is a modular solution designed to scale to meet the needs of supply chains of every size and level of complexity. Built on multi-tenant cloud technology, Kuebix’s connected platform enables customers to simplify ERP and other integrations to drive rapid onboarding and ROI. Kuebix is headquartered in Maynard, Mass. For more information visit: www.kuebix.com.

Loadsmart Partners with Opendock for Integrated Dock Scheduling

Integration offers new capabilities to improve on-time service and eliminate a traditional bottleneck in the movement of freight

SCOTTSDALE, Ariz., and NEW YORK – June 10, 2020 — Loadsmart, a leading digital freight technology company, today announced a technical and strategic partnership with Opendock, a market leader in centralized dock scheduling software for shippers and carriers. The API-enabled integration of Loadsmart’s digital freight platform and Smart Scheduling technology, with Opendock’s dock management software, enables shippers to simplify and accelerate the scheduling process by identifying and booking the best possible appointment with minimal human intervention.  

For most shippers and carriers, scheduling has long been a time-consuming, manual process that typically requires multiple phone calls and emails to book an appointment. This process becomes even more problematic when appointments must be rescheduled due to a change in the driver’s estimated arrival time. Recognizing this challenge and the potential of leveraging artificial intelligence, the two companies have forged this collaboration to automate appointment scheduling for the more than 1,800 warehouses that utilize Opendock.

“Shippers are increasingly looking for new ways to leverage technology to eliminate bottlenecks and improve the efficiency of their supply chains,” said Ricardo Salgado, CEO and co-founder of Loadsmart, “The integration of our Smart Scheduling technology with Opendock’s centralized dock management software enables us to remove friction and streamline the appointment scheduling process for our shared customers.”

Shippers will immediately benefit from improved efficiency and better service. The integration allows Loadsmart’s Smart Scheduling technology to instantly select and book the best possible appointment by using artificial intelligence to analyze travel time and other factors. Should a driver’s ETA change while en route, the integration even enables Loadsmart to automatically reschedule the appointment in seconds. 

“We are excited to be partnering with Loadsmart and their Smart Scheduling capability. It’s impressive how they are using technology to simplify and streamline what’s historically been a very complex and time-consuming process, ” said Bob La Loggia, CEO of Opendock. “With this partnership, we’re eliminating a traditional bottleneck that impacts efficiency and on-time service.”

Loadsmart has completed phase one of the integration with Opendock and is already seeing positive results, including a substantial improvement in on-time performance. The company plans on continuing to enhance and expand integration touchpoints to make even more use of Opendock’s scheduling capabilities. 

Ready to learn more?

Join Loadsmart and Opendock June 18th at 2PM EST as they discuss the partnership and joint solution. Register Now.

About Loadsmart:

Transforming the future of freight, Loadsmart leverages artificial intelligence, machine learning and strategic partnerships to automate how freight is priced, booked and shipped. Pairing advanced technologies with deep-seated industry expertise, Loadsmart fuels growth, simplifies operational complexity and bolsters efficiency for carriers and shippers alike. For more information, please visit https://loadsmart.com.

About Opendock:

Opendock is based in Scottsdale, Arizona. It is utilized daily by every major freight carrier and broker, including C.H. Robinson, Schneider, JB Hunt, Werner, and others. Additionally, thousands of warehouses use the system for managing their dock availability. Warehouses range from small operations to 3PLs to some of the largest shippers in the world, such as International Paper, Cargill, Owen & Minor, Pepsi, ADM, and Unilever. To learn more about Opendock dock scheduling software, visit http://www.opendock.com.

Loadsmart Launches Multimodal Services to Enable Maximum Visibility From the Port to the Road

New Solution Adds Transload Services and Powers Instant Execution and Seamless Transparency Across Full Shipment Lifecycle

Loadsmart, a digital freight technology company, today announced the launch of its Multimodal Services offering, which bridges port drayage, transload and over-the-road truckload shipping. Shippers will now be able to instantly execute multimodal shipments and obtain full transparency across their entire lifecycle—from the port, to the transload facility, onto the vehicles, and, ultimately, to their intended destinations – all from a single digital logistics partner.

Transload refers to the point in the supply chain where containers from the port are unloaded at a distribution warehouse and the goods are then transferred to one or more trailers. Transload providers are often siloed from other transportation segments, including the carrier providing over-the-road services, ultimately causing limited visibility and inefficiency. The absence of integration amongst multiple providers results in a blind spot for shippers, who lack the necessary granular insight. Loadsmart’s Multimodal Services solution brings complete visibility for shippers, consignees, and other interested parties during the entire shipment lifecycle, down to the single package level. 

“Loadsmart is one step closer to becoming the go-to platform for intelligent logistics execution,” said Felipe Capella, co-founder and president at Loadsmart. “Through direct integrations with leading transportation management systems, port terminals and now warehouse management systems, we have programmatically wired a big part of the supply chain to arm shippers with the real-time execution and visibility they need.”

Transparent and accurate data helps shippers proactively and effectively manage transportation costs and outcomes. By gaining increased transparency, shippers can develop a transformative and timely strategy for the organization.

“We want to empower planners and logistics professionals on the customer side to be 10 times more efficient than before. Giving them the ability to work with a single vendor for executing and tracking their multimodal shipments makes their job that much easier, especially when many are still working from home.” Capella added.

Traditionally, obtaining visibility from the warehouse through the rest of a shipment’s life cycle has been a challenge for 3PLs and their shipper customers, due to the sheer variety of warehouse management system (WMS) vendors. To address these inefficiencies, Loadsmart’s Multimodal Services offering is designed to be warehouse agnostic. Warehouses can now opt to integrate their WMS with Loadsmart, or alternatively, use Loadsmart’s free web-based platform to manage containers, assign goods to trailers and arrange inland pickups. All of this can be done by simply logging on to a web interface — no integration required. 

Growing customer expectations for increased speed and transparency have made reducing complexity and improving efficiency an imperative for modern supply chains. Nowhere is this more apparent than for multi-modal shipments, where shippers are forced to navigate a tangled web of different vendors and technologies. With its Multimodal Services offering, Loadsmart is uniquely positioned to transform the way companies manage their multimodal freight, offering a single source for shipment execution and unparalleled visibility from the port to the final destination.

Ready to learn more? Contact us at sales@loadsmart.com

BluJay and Loadsmart Announce Strategic Partnership Enabling Access to Instantly Bookable Rates and Capacity for TMS Users

Integration offers shippers new tools to improve efficiency and gain superior visibility for their shipments

HOLLAND, Mich. and NEW YORK – April 8, 2020 – BluJay Solutions, a leading provider of global supply chain software and services, and Loadsmart, a digital freight technology company, today announced a strategic and technical partnership that delivers greater transportation efficiency and visibility to shippers. The API-enabled integration of Loadsmart’s digital freight platform with BluJay’s cloud-based transportation management software (TMS) allows customers access to Loadsmart’s offering of instantly bookable truckload rates and guaranteed capacity directly within the BluJay platform.

“Loadsmart and BluJay share a passion for innovation and a commitment to putting customers first, making this partnership a natural fit,” said Felipe Capella, president and co-founder of Loadsmart. “The integration of our industry-leading platform with BluJay’s first-of-its-kind cloud-based TMS delivers tangible value to our shared customers, who now can more seamlessly and efficiently lock in rates and capacity through a single UI.”

Customers benefit from improved efficiency and reduced transportation costs. The integration allows for Loadsmart’s real-time, bookable rates to appear within BluJay’s Transportation Management application in the Carrier Shop, Routing Guide, or both. As a result, shippers can automatically tender the load and receive status updates from pickup through delivery, with near-real-time tracking.

“Our partnership and integration with Loadsmart couldn’t come at a better time for BluJay and our customers. The current pandemic has had a tremendous impact on freight rates and capacity. The Loadsmart solution, combined with the advanced capabilities of the BluJay TMS, will help our shippers rapidly secure capacity at a competitive rate. Even once the environment settles, Loadsmart will provide our customers with the tools needed to improve visibility, control costs and improve operational efficiency,” said David Landau, chief product officer at BluJay.

About Loadsmart
Transforming the future of freight, Loadsmart leverages artificial intelligence, machine learning and strategic partnerships to automate how freight is priced, booked and shipped. Pairing advanced technologies with deep-seated industry expertise, Loadsmart fuels growth, simplifies operational complexity and bolsters efficiency for carriers and shippers alike. For more information, please visit: https://loadsmart.com.

About BluJay Solutions
BluJay Solutions helps companies around the world achieve excellence in logistics and trade compliance – it’s in our DNA. Through a blend of Data, Networks, and Applications, delivered in the BluJay Way, our DNA platform powers the Frictionless Supply Chain for thousands of the world’s leading manufacturers, retailers, distributors, freight forwarders, customs brokers, carriers, and logistics service providers. To learn more, visit: http://www.blujaysolutions.com, or follow us on Twitter @myblujay and LinkedIn.

[WEBINAR] 5 Tips to Supercharge Your TMS

In this on-demand webinar, join Hunter Yaw, VP of Product at Loadsmart and Adam Wells, Director of Strategic Alliances at MercuryGate, as they walk through five ways shippers can leverage Loadsmart and MercuryGate to deliver tangible cost savings, improve service, and get more out of their TMS.

They discuss how to…

  • Accelerate rate discovery by adding instant rates to your TMS
  • Beat the market by making your routing guide responsive to market conditions
  • Eliminate surprises by tracking freight in near real-time
  • Find the best carrier, faster with algorithmic sourcing
  • Maximize open loading docks with Smart Scheduling

Loadsmart Again Recognized as a Leading Technology Innovator in this Year’s Freight.Tech 25 — Rises Seven Spots to #15

Loadsmart, a digital freight technology company, was awarded #15th place at the 2020 Freight.Tech25 awards held at Freightwaves Live CHICAGO. The award marks the second time Loadsmart has been recognized as one of the most innovative companies in the freight industry, having placed 22nd in 2019.

The FreightTech 25, chosen from the FreightTech 100, highlights the most disruptive companies across the freight and transportation industries, featuring both cutting-edge upstarts and top-notch traditional powers.

“All of our efforts have been focused on developing the right technology and partnerships to make Loadsmart the go-to-marketplace for logistics execution. We are confident that this approach will bring long-term sustainable change to the industry, which to date has seen many companies follow the traditional path of blitzscaling-for-market-share,” said Felipe Capella, Chief Product Officer and Co-Founder at Loadsmart, “Moving up in Freight Tech’s Top 25 most innovative companies is further validation that we are moving in the right direction.”

Loadsmart Awarded #15 in Freight.Tech 25

The FreightTech.25 isn’t the first time Loadsmart has been recognized by analysts and industry groups. In the past 12 months, the company was awarded “Digital Brokerage of the Year” by Frost & Sullivan, nominated by Gartner as a Cool Vendor for “Intelligent SCE Technologies” and recognized by CB Insights as a disruptor in the supply chain industry.

Placing #15 in this year’s FreightTech.25 is just the latest in what has already been a very busy year, from partnering up with Oracle, to moving the first fully automated load with Starsky Robotics, and raising a new $19M round with Ports America and Maersk.

If 2019 has been any indication, we’re excited to see what 2020 has in store.

Loadsmart’s Q3 2019 State of Truckload

Loadsmart’s “State of Truckload” report combines Loadsmart’s proprietary rate and capacity data with third party information to help explain what happened in the market during the previous quarter.

Here’s what we’ve observed.

Contents:

DOWNLOAD THE FULL REPORT

Summary

The third quarter of 2019 saw signals shift from warning about the possibility of a slow down to indicating an economic contraction. Cass Information’s Freight Shipment Index, an index based on $28b in freight volume, has remained negative on a year-over-year basis since December 2018, meaning monthly freight volumes have been consistently lower than 2018 levels for ten consecutive months. In Q3 the index was down an average of -4.11% per month compared to the same time the previous year.

And while linehaul rates showed signs of improvement in the third quarter, with modest month over month growth in July (+1.5%) and September (+2.3%), they remained on average -1.53% below the same time last year.

CASS INFO FREIGHT SHIPMENT INDEX

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CASS INFO LINEHAUL RATE INDEX

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The US economy also offered its own indicators suggesting signs of an economic contraction. The 10-year Treasury Yield continued to fall in July and August before initially improving in September, reaching a peak of 1.901 on 9/14. Unfortunately, that improvement quickly evaporated as it fell to 1.675 by 9/30, which put it inline with levels previously seen in mid-August. As of mid-October, it has recovered to 1.755.

Adding more fuel to the fire, the New York Federal Reserve estimated that the probability of a 2020 recession had risen to 37.93% in August, its highest level since March 2008, before slightly decreasing to 34.8% in September. Meanwhile consumer sentiment has been in decline since March (94), hitting 89 in September — a -5.3% decrease. The jobs report came in with preliminary numbers for September at 180,000 – a healthy uptick from the original projection of 136,000. It will be an important metric to watch as the number is finalized in the coming months.

RECESSION PROBABILITY BY MONTH

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CONSUMER SENTIMENT BY MONTH

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It’s important to note — “soft” economic data like consumer sentiment have finally begun to show cracks as the trade war with China continues. This was particularly evident in August as consumer sentiment fell by the most since 2012, coinciding with the U.S. declaring China a currency manipulator and both sides issuing new rounds of tariffs on one another’s imports.

The net-net? Q3 indicators are showing early signs of an economic contraction.

GLASS HALF FULL:

  • Linehaul rates showed MoM improvement in July & September

  • Cass Information Systems Shipment Index showed moderate MoM growth in August and September

  • Non-farm payrolls group by 180,000 in September, according to the preliminary jobs report

GLASS HALF EMPTY:

  • Freight volume has been down on a YoY basis for ten consecutive months
  • Consumer sentiment has finally begun to show signs of weakness. In August it fell by the most since 2012

  • Probability of a recession in 2020 hit its highest level since 2008-2009 in August (37.93%), before decreasing slightly to 34.8%

  • 10-year treasury yield shows continued signs of decline, reaching 1.675 at the end of September, before recovering slightly by mid-October

Capacity

TRUCKLOAD CAPACITY SURPLUS CONTINUES IN Q3 2019

In the third quarter truckload capacity across both dry van and reefer remained above levels previously seen in 2018 and 2017. This is not altogether unexpected, as 2018 was a breakout year for shipment volume and capacity was constrained due to new regulations and other factors. According to Loadsmart’s own proprietary capacity index, which is an aggregated view of available truck data from several sources, capacity tightened roughly 22% in July before returning to levels 5-7% lower what was previously seen in June. This is still notably tighter from the peak available truck numbers posted in April.

LOADSMART CAPACITY INDEX

Screen Shot 2019-11-06 at 12.01.52 PM

DRY VAN

After showing an initial contraction in June, DAT’s Van Load to Truck Ratio hovered between 2.09 and 2.39 loads per truck from July to September. On average, this represented a 6% increase over ratios seen in the second quarter, while still remaining 25-50% lower than what was previously recorded 2018 and 2017.

DAT VAN LOAD TO TRUCK RATIO

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REEFER

In the third quarter, reefer capacity was tighter than what was previously seen in Q2, hovering between 3.65 and 4.46 loads per truck, while still being significantly below the peak of 5.11 seen in June. According to DAT, harsh weather hurt harvests, kept rates from climbing, and caused some carriers to shift and compete for dry van loads. The moderate increase in September was largely due to the onset of apple harvest season. On the whole, Q3 reefer load-to-truck rations were nearly 25-60% lower than levels seen in 2018 and 2017.

DAT REEFER LOAD TO TRUCK RATIO

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Rates

TRUCKLOAD LINEHAUL RATES INCREASE MONTH OVER MONTH DUE TO SEASONALITY WHILE STILL REMAINING LOWER THAN 2018 LEVELS

According to Cass Information Systems, truckload linehaul rates (without fuel) increased month over month by approximately 2.3% due to seasonality while remaining below the previous years levels. Both DAT and Cass show spot pricing continuing to be significantly lower than contracted rates and as such, will likely represent a larger percentage of the mix going into the fourth quarter.

CASS INFORMATION SYSTEMS TRUCKLOAD LINEHAUL INDEX

Screen Shot 2019-11-06 at 12.35.26 PM

Source

DRY VAN

Van spot rates (including fuel), held relatively steady in Q3, hovering between $1.84 and $1.81 per mile, which is approximately 2-4% lower than the peak of $1.89 seen in June. Diesel prices had a slightly negative impact on rates in July and August, decreasing approximately 2%, before increasing by ~$0.10 (+2.7%) in September.

Contracted rates remained relatively stable through August, hovering at $2.24 per mile, before decreasing to $2.21 in September (-2.7%). There remains a 15-20% delta between spot and contracted rates. There remains a 15-20% delta between spot and contracted rates.

DAT VAN LOAD-TO-TRUCK, SPOT RPM AND CONTRACTED RPM

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REEFER

Reefer spot rates followed a similar trend to dry van. Spot prices remained between $2.18 and $2.16 per mile, while contracted rates hovered between $2.47 and $2.46 per mile. Like their dry van counterparts, spot remained significantly lower than contracted rates (12-14%).

DAT REEFER LOAD-TO-TRUCK, SPOT RPM AND CONTRACTED RPM

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Source

Fuel

DIESEL PRICES DECREASE IN JULY AND AUGUST BEFORE MODERATELY INCREASING IN SEPTEMBER

Diesel prices remained neutral to negative in July and August before showing a 2.7% increase by late September, hovering just around $3.08 per gallon. Kiplinger, a leading publisher of business forecasts, predicts that diesel prices will not move dramatically higher or lower in the coming weeks.

Screen Shot 2019-11-06 at 12.43.59 PM

Source

Wrapping Up

With year over year freight volume declining for the tenth consecutive month, in addition to other economic indicators like the falling 10-year Treasury Yield and cracks in consumer sentiment, there’s reason for elevated concern.

Our take? These signals, when taken together, are indicative of an economic contraction. And while contraction is concerning, shippers have an opportunity to save in 2019 while capacity is high and spot rates remain significantly lower than other contracted options.

How Loadsmart Can Help

Loadsmart can help you take advantage of favorable market conditions by inserting real time rates alongside the static prices in your routing guide. This is made possible via direct integration with your TMS. In today’s market, there’s nearly a 20% gap between spot and contracted rates — savings which can be captured with Dynamic Routing.

Ready to Learn More?

Contact us at sales@loadsmart.com or (646) 887 6278. We look forward to working with you.

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Disclaimer:

Materials in this presentation may contain information about Loadsmart Inc.’s future plans and prospects that constitute forward-looking statements for purposes of the safe harbor provisions under the Private Securities Litigation Reform Act of 1995.  Included in forward looking statements are statements such as:

  • Statements regarding market trends in the U.S. freight industry, including freight volume and pricing, market size and the state of transportation management systems;

Some forward-looking statements can also be identified by terminology such as “may,” “will,” “could,” “should,” “anticipate,” “believe,” “contemplate,” “estimate,” “expect,” “intend,” “plan,” “predict,” “project,” or similar words.

Such forward-looking statements are based on our current expectations and involve inherent risks and uncertainties, including factors that could delay, divert or change such statements, and could cause actual outcomes and results to differ materially from our current expectations. No forward-looking statement can be guaranteed.  In evaluating forward-looking statements or forward-looking information, we caution readers not to place undue reliance on any forward-looking statement, and readers should specifically consider the various factors which could cause actual events or results to differ materially from those indicated by such forward-looking statements.

In addition, any information contained in this presentation was current as of the date presented and should not be relied upon as representing our estimates as of any subsequent date. While we may elect to update forward-looking statements at some point in the future, we specifically disclaim any obligation to do so, even if our estimates change, whether as a result of new information, future events or otherwise. Consequently, readers should not rely upon the information as current or accurate after the presentation date.

[NEWS] Loadsmart Launches Smart Match Tool to Help Carriers Pair Trucks with Optimal Freight

New Solution Maximizes Loaded Miles by Matching Carrier Availability with Shipper Demand Through Advanced Integrations and Machine Learning

NEW YORK, Oct. 8, 2019—Loadsmart, a digital freight technology company, today announced the launch of its Smart Match tool, which provides carriers a faster, easier way to find the right loads to improve their bottom line. By directly integrating with the fleet management platforms relied on by carriers, Loadsmart is able to use machine learning to programmatically match available trucks with the freight it’s awarded via integrations with some of the most popular transportation management systems.

Loadsmart is offering a new level of digital freight matching targeted primarily toward enterprise carriers. With API integration directly to both the carrier and the shipper TMS, Smart Match uses the location of trucks to instantly connect available capacity with shipper demand, maximizing revenue per loaded mile and improving the bottom line.

“Smart Match empowers carriers to move beyond the current load-to-truck paradigm, filtering through endless freight being offered, and instead go truck-to-load, pulling freight from the cloud onto their assets to help balance their network ,” said Hunter Yaw, vice president of product management and business development, Loadsmart. “The new capability will help accelerate how carriers align their networks to the highest yield markets.”

With Smart Match, carriers can receive automated load recommendations based on the current and future availability of their trucks. And as a result of TMS integration and relationships with some of the country’s biggest shippers, Smart Match offers visibility to thousands of potential shipments.

Slowing demand, excess capacity and historic declines in freight rates have resulted in rampant “rightsizing” across the trucking industry, putting companies large and small out of business. More than ever before, carriers face margin pressures, stiff competition and operational challenges. The largely manual and time-consuming process of finding loads and aligning vehicle assets to the most profitable markets is a significant resource drain for for-hire fleets. Loadsmart’s Smart Match capability, which taps the power of machine learning and other technologies to automate the data-heavy task of load matching, speeds time to revenue and maximizes asset utilization.

“The transportation industry is at a pivotal crossroads rounding out a particularly tough year. We believe in equipping carriers and shippers with technology to succeed and thrive, while minimizing cost per transaction,” said Erik Malin, vice president of operations at Loadsmart. “With AI-powered Smart Match, we’re making it faster and easier for carriers to uncover the most profitable markets and find the right opportunities to grow their business.”

Smart Match is now available for fleets of all sizes. Learn more: https://loadsmart.com/carrier/

About Loadsmart     Loadsmart is a digital freight technology company that specializes in full truckload and intermodal shipping. Loadsmart is leveraging data and machine learning to build artificial intelligence processes into the complex freight cycle, allowing shippers to book a truck in seconds and providing instant and targeted loads to carriers. For more information, please visit: https://loadsmart.com.    


Loadsmart’s Q2 2019 State of Truckload

With all of the recent news (Starsky Partnership, Simple Quote Launch, and $19M in New Funding), our quarterly State of Truckload report was a bit delayed this past quarter. Now that we’ve caught our breath, we’re ready to share what we observed.

Here’s everything you need to know.

Loadsmart’s “State of Truckload” report combines industry leading data sources to help explain what happened in the market during the previous quarter.

Here’s what we’ve observed.

Contents:

Summary

The second quarter of 2019 saw warning signs of a possible economic slowdown shift from theory to reality. Cass Information’s Freight Shipment Index, an index based on $28b in freight volume, has remained negative on a year-over-year basis since December 2018, meaning that as of this past June, monthly freight volumes have been lower than 2018 levels for seven month in a row. That trend has continued in Q3 (more on that shortly).

Further, while truckload linehaul rates initially showed minor improvement in March, they fell nearly 3% in the second quarter.

CASS INFO FREIGHT SHIPMENT INDEX

CASS_INFO_Shipment_Index

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CASS_INFO_LINEHAUL_RATES

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The US economy also offered its own indicators suggesting a potential slow down. After the 10-year Treasury Yield moved back into correction territory at the end of March (2.41% on 3/31/2019), it fell even further in June (2.007% on 6/30/2019). The New York Federal Reserve estimated that the probability of a 2020 recession had risen to 37.9% in August, approaching the 40% level we see saw in 2008-2009.

Screen Shot 2019-09-20 at 11.59.25 AM

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Meanwhile consumer sentiment continued to strengthen, hitting 98.2 in June. The jobs report, after giving a scare in May (62,000 jobs), posted 178,000 new jobs in June, hovering a bit below its 102-month average.

CONSUMER SENTIMENT INDEX

consumer_sentiment

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It’s important to note — these trends have not happened in a vacuum. The tariffs and continuing trade war with China have taken their toll on the markets and added an extra headwind for Q3.

The net-net? Q1 indicators showed a slowdown compared to last year and hinted at the possibility of upcoming economic contraction. Q2 signals have all but confirmed that an economic contract is on the horizon.

GLASS HALF FULL:

  • Freight volume, while lower than the blockbuster levels of 2018, has shown relatively consistent month over month growth 
  • Consumer Sentiment for June reached 98.2 and either matched or exceed 2018 levels for May and June

GLASS HALF EMPTY:

Economic contraction is on the horizon

  • Freight volume has been down on a YoY basis for seven consecutive months
  • Total construction spending remained below 2018 levels for the entire second quarter
  • YoY growth for truckload linehaul rates has continued slowing since mid-2018.  June 2019 was only 0.9% more than June 2018.
  • 10-year Treasury Yield has fallen back into correction territory
  • Probability of a recession in 2020 has risen to its highest level since 2008-2009. Again.

Capacity

TRUCKLOAD CAPACITY CONTRACTS IN Q2 2019

Q2 2019 saw capacity begin to “rightsize” relative to decreasing shipment volumes and lower linehaul rates. Sadly, this has resulted in a number of trucking companies going out of business.

DRY VAN

DAT’s Van Load to Truck ratio hovered between 1.45 and 3.13 loads per truck from April to June, a sharp difference from just a year ago when the ratio was between 3.51 and 6.29 loads per truck. The 2019 LTR even remained below 2017 levels.

dat_ltr_van

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REEFER

The DAT reported that reefer load to truck ratios also remained below 2018 and 2017 levels, hovering between 2.58 – 5.11 loads per truck between April and June. That’s nearly nearly 70-80% lower than 2017 levels and 120-150% lower than 2018 metrics.

dat_reefer

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Rates

REDUCED SHIPMENT VOLUME AND MARKET UNCERTAINTY CREATE A PERFECT STORM FOR LINEHAUL RATES

According to Cass Information Systems, truckload linehaul rates (without fuel) continued to contract throughout Q2 and June remained just 0.9% above the previous years levels in June. 

CASS_INFO_LINEHAUL_RATES

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DRY VAN

In our previous report, we found that van spot rates (including fuel), had been in steady decline since reaching $2.83 per mile in June of 2018. In the second quarter of 2019, spot rates continued to fall in April ($1.81) and May ($1.80), before surging to $1.89 in June. And while rising diesel prices helped spot rates reach their peak in 2018, they have continued to have a decidedly neutral impact in the second quarter.

Contracted rates remained relatively stable throughout Q2, hovering around $2.26 per mile.

dat_van_ltr_rates

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REEFER

Reefer rates followed a somewhat similar trend to dry van. Spot prices declined in April ($2.15) and May ($2.15) before surging in June ($2.26). Contracted rates fell roughly 2.4% from March, landing at $2.48 in June.

dat_reefer_ltr_rates

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Fuel

DIESEL PRICES INCREASE IN SECOND QUARTER, REMAIN BELOW 2018 PEAK

The price of diesel remained relatively consistent in Q2 2019, hovering between $3.16 and $3.09 per gallon. This represents a 2.5-3.5% increase over Q1.

diesel_prices

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Wrapping Up

With year over year freight volume declining for the seventh consecutive month, in addition to other economic indicators like the falling 10-year Treasury Yield, it’s relatively certain that we are on the edge of economic contraction. As such, elevated concern and planning for economic for 2020 is warranted.

How Loadsmart Can Help

Loadsmart can help you take advantage of favorable market conditions by inserting real time rates alongside the static prices in your routing guide. This is made possible via direct integration with your TMS. In today’s market, there’s a 15 – 20% gap between spot and contracted rates — savings which can be captured with Dynamic Routing.

Ready to Learn More?

Contact us at sales@loadsmart.com or (646) 887 6278. We look forward to working with you.

Disclaimer:

Materials in this presentation may contain information about Loadsmart Inc.’s future plans and prospects that constitute forward-looking statements for purposes of the safe harbor provisions under the Private Securities Litigation Reform Act of 1995.  Included in forward looking statements are statements such as:

  • Statements regarding market trends in the U.S. freight industry, including freight volume and pricing, market size and the state of transportation management systems;

Some forward-looking statements can also be identified by terminology such as “may,” “will,” “could,” “should,” “anticipate,” “believe,” “contemplate,” “estimate,” “expect,” “intend,” “plan,” “predict,” “project,” or similar words.

Such forward-looking statements are based on our current expectations and involve inherent risks and uncertainties, including factors that could delay, divert or change such statements, and could cause actual outcomes and results to differ materially from our current expectations. No forward-looking statement can be guaranteed.  In evaluating forward-looking statements or forward-looking information, we caution readers not to place undue reliance on any forward-looking statement, and readers should specifically consider the various factors which could cause actual events or results to differ materially from those indicated by such forward-looking statements.

In addition, any information contained in this presentation was current as of the date presented and should not be relied upon as representing our estimates as of any subsequent date. While we may elect to update forward-looking statements at some point in the future, we specifically disclaim any obligation to do so, even if our estimates change, whether as a result of new information, future events or otherwise. Consequently, readers should not rely upon the information as current or accurate after the presentation date.

[NEWS] Loadsmart Announces $19 Million Investment for Major Drayage Initiative with Maersk and Ports America

The largest U.S. port operator joins Maersk as a Loadsmart investor

New York, NYLoadsmart, a digital freight technology company, today announced they have raised $19 million to embark on a major initiative to improve the flow of freight through American ports. Ports America, the largest terminal operator and stevedore in the U.S., joins the world’s largest container ship and supply vessel operator’s investment arm Maersk Growth as an investor. This latest round follows Loadsmart’s series A round in late 2018, bringing total funding to date to $53.3 million.

The investment will be leveraged for Loadsmart’s new Smart Drayage initiative, helping industry participants rethink the flow of shipping containers through marine terminals and develop a free-flow model to accelerate the transit of goods through the largest ports in America.

“The free-flow model moves the industry from container-specific to container-agnostic. It means that truck drivers will be given the best container available when they arrive at the port, having pre-agreed with a specific mileage band trip” said Ricardo Salgado, CEO and co-founder of Loadsmart. “As a result, we project that truck drivers will be able to reduce their time to get in and out of the port by at least 25%. At the same time, we estimate that port operators will be able to reduce container shuffles by at least 50%, which is a huge efficiency gain.”

Recent Freightwaves research shows that there are more than 60 million drayage movements each year in North America, representing a $50 billion plus market with ports contributing 26 percent to the U.S. gross domestic product. Yet, due to lack of efficiency and transparency, 15 million man-hours and 2.3 billion gallons of fuel are wasted due to trucker congestion at ports. 

Maersk alone moves around 13 million containers a year, or around 15% of the world’s container market. Ports America operates 33 port terminals in 22 cities in the U.S. and moves around 6.7 million containers in and out of the country.

“At Maersk Growth we want to define the future of trade,” said Sune Stilling, head of Maersk Growth. “From the onset, we recognized the synergies between Maersk and Loadsmart and our joint opportunity to drive change through technology. Our partnership will increase inland business opportunities to add value to our clients.”

As part of the new drayage initiative, Loadsmart will leverage the data, expertise and industry knowledge of major industry players.

“As the only tri-coastal terminal operator, we are focused on providing value to supply chains through transparent and efficient terminal operations and in our pursuit to provide our customers with best-in-class service, we need to rethink how goods are moved more efficiently. Streamlining the drayage movement benefits our trucking community with faster turn times while providing cargo owners with better visibility and more efficient container retrievals” said Mark Montgomery, President and CEO, Ports America. “

The announcement comes together with the release of Loadsmart Drayage Instant Booking. The new service is available via Loadsmart’s website and enables small and medium sized shippers to book a drayage truck in seconds. For enterprise accounts Loadsmart offers an API integrated solution. 

Aside from Ports America and Maersk Growth, Chromo and Connor Capital (who also took part in the firm’s Series A funding last October) participated in this intermodal-focused investment, bringing the total investment in Loadsmart to date to $53.4 million.

“The addition of drayage to our established expertise in truckload services allows Loadsmart to provide integrated logistics services through technology. Our goal is to offer shippers of all sizes access to a fully integrated, seamless multi-modal end-to-end experience,” said Felipe Capella, chief product officer and co-founder, Loadsmart.

“Chromo is here for the long haul. We are fully supportive of Loadsmart’s executive team in their technology-first approach, which will now become the standard for drayage as well,” said Marcelo Ferreira, managing partner, Chromo.

“Logistics is a trillion dollar industry worldwide which requires more technology and efficiency. We believe Loadsmart will be the technology platform bringing different players together in a scalable and integrated way,” said Josh Connor, managing partner, Connor Capital.

Learn more about Smart Drayage

About Loadsmart     

Loadsmart is a digital freight platform that specializes in truckload and intermodal shipping. Loadsmart is leveraging data and machine learning to build artificial intelligence processes into the complex freight cycle, allowing shippers to book a truck in seconds and providing instant and targeted loads to carriers. https://loadsmart.com

VIDEO: Loadsmart CEO Ricardo Salgado on the Future of Freight

Our very own Ricardo Salgado recently sat down with Craig Fuller, CEO of FreightWaves, to discuss the future of freight.

In it, they cover
– How technology and innovation are deeply rooted in Loadsmart’s DNA
– Why Loadsmart’s go-to-market is focused on building an ecosystem of strategic partners — and how that’s different than other digital brokers
– How the digitization of transportation is comparable to the launch of the first iPhone
– What excites Ricardo most when it comes to the future of freight and Loadsmart’s story

Length: 15:40

News: Loadsmart now provides shippers with instant pricing via Microsoft Excel and Google Sheets

Today we released our Simple Quote add-on for Google Sheets and Microsoft Excel. The integrations provide shippers the ability to price and book truckload shipments in seconds directly from within a spreadsheet — without the need for a transportation management system (TMS).

While we already provide instant truckload rates inside most major TMSs, enabling Fortune 500 companies to book a truckload in seconds, we are now the first provider to level the playing field for smaller shippers with the new integrations.  

Read More »