brokerage News Updates

But the Charlotte, N.C.-based asset-light transportation provider posted a net loss of $20 million, or negative 12 cents a diluted share, for the three months ending Dec. 31.

The Eden Prairie, Minn.-based logistics and shipping company on Jan. 29 posted net income of $149.3 million, or $1.22 a diluted share, for the three months ending Dec. 31.

FreightVana believes the deal will boost its position in the power-only brokerage segment. Loadsmith provides power-only and standard freight brokerage.

A capacity-as-a-service platform, Broker Access is designed to boost productivity, service levels and business growth for brokers, Uber Freight said.

RXO has finalized its $1.025 billion acquisition of Coyote Logistics from UPS, a move that makes RXO the third-largest provider of brokered transportation in North America.

Across the major logistics market segments, 2023 brought a spate of challenges including compressed margins, rising labor costs and inflationary pressures, ensuring a down year for many.

2023 was a generally downtrodden year for 3PLs, with plummeting transportation rates and shippers focused on right-sizing inventories and reducing logistics costs.

The Federal Motor Carrier Safety Administration has issued final regulatory guidance on its definitions of ‘‘broker’’ and ‘‘bona fide agents.” 

Third-party logistics providers have been adjusting to normalizing market conditions as supply chain disruptions, inventory shortages and surging demand have receded.

Masterpiece International will exclusively distribute Turtle crates in the United States, Canada and Mexico through Turtle North America, the company said.