Afleveringen
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A hybrid approach might be a winning strategy for logistics providers in the current challenging freight backdrop. In this Talking Transports podcast, Scott Pruneau, ITS Logistics’ CEO, joins Lee Klaskow, Bloomberg Intelligence senior transportation and logistics analyst, to share his insights about how the company’s hybrid approach has helped it organically gain market share. While the company leans into technology, it never loses sight of how relationships are key to expanding a freight-brokerage business. The company’s fleet of 3,000 trailers as well as its warehousing and delivering capabilities provides ITS with value-added offerings that go beyond non-asset players. Pruneau also discusses peak season and rate expectations, the freight cycle, fraud, and how a career in transportation found him over 30 years ago.
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The recovery of the truckload market may be around the corner, but the pace will likely be slow and steady in the months ahead as slack capacity gradually exits. This should help drive a better freight-rate environment next year. In this Talking Transports podcast, Harman Cheema, Cheema Freightlines’ CEO, joins Lee Klaskow, Bloomberg Intelligence senior transportation and logistics analyst, to share insights about the state of trucking market from his perspective as a midsize carrier operating in the western US. Cheema Freightlines is the 38th-largest truckload carrier, according to Transport Topics, and has both asset-based and non-asset operations. Cheema also discusses fraud, the additional costs that come with greener equipment and his early beginning in the trucking industry as a teenager working for his father.
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FreightVana’s trailers and technological approach differentiate it from other emerging freight brokers, providing shippers with more flexibility and carriers with access to previously out-of-reach markets. The company seeks to increase its fleet of trailing equipment to 10,000 from 700 in the long term. In this Talking Transports episode, Shannon Breen, co-CEO and founder of FreightVana, joins Lee Klaskow, Bloomberg Intelligence’s senior transportation and logistics analyst, to share his insight into how drop trailers can be a game changer for the truckload broker. Breen also offers his thoughts on peak season, 2025 rates, the pros and cons of entrepreneurship and how football led him to the industry.
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The brokerage industry continues to leverage technology to improve processes, productivity and profitability. It will also help drive costs per load down, which can help brokers win share on price without sacrificing margins, and that could help consolidate the top end of the market. In this Talking Transports podcast, Matt Pyatt, CEO and founder of Arrive Logistics, joins Lee Klaskow, Bloomberg Intelligence senior transportation and logistics analyst, to share his insights into how technology coupled with the company’s sales culture has helped fueled its explosive organic growth over the past decade. Pyatt expects a similar brokerage market next year to one seen this year, but with slightly better margins. He also discusses his entrepreneurial spirit, leading a data-centric company, fighting fraud and how a date at a BBQ joint landed the woman of his dreams.
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Lackluster trucking conditions and a slow recovery in spot truckload rates may limit carriers’ ability to deliver upside surprises when reporting 3Q earnings, and could put 4Q expectations at risk, according to Chris Wetherbee, Wells Fargo managing director and lead analyst on airfreight, surface and marine transportation. In this episode of Bloomberg Intelligence’s Talking Transports podcast, Wetherbee joins Lee Klaskow, BI senior transportation and logistics analyst, to discuss what investors should be thinking about ahead of 3Q results for the truckload, less-than-truckload (LTL) and railroad companies. J.B. Hunt is the first to report results on Oct. 15. Wetherbee also discusses his Canadian National upgrade, how mix has weighed on parcel carriers’ margins and a potential FedEx LTL spinoff. Wetherbee also provides some insight about the day in the life of a sell-side analyst.
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Operating a privately held debt-free less-than-truckload (LTL) operator provides Estes Express Lines the flexibility to make growth investments and keep its commitments to customers and employees through the freight cycle, Webb Estes, president and chief operating officer, tells Bloomberg Intelligence. This approach has allowed the company to opportunistically acquire facilities and equipment against a challenging freight environment as well as keeping workers’ morale high, he says. In this Talking Transports podcast, Estes joins Lee Klaskow, Bloomberg Intelligence senior transportation and logistics analyst, to share his insights about LTL rates and demand, which saw a pick up in growth in September. Estes also discusses sustainability, maintaining high service levels, technology investments and doing most jobs working his way up the organizations.
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Trucking and railroad demand appears hard pressed to come out of its malaise anytime soon. Trucking markets have been slowly improving, while pockets of weakness are mitigating some stronger end-markets. This backdrop may drive low-single digit volume growth for these freight modes next year. In this Talking Transports podcast, Jonathan Starks, FTR’s chief executive officer and chief intelligence officer joins Lee Klaskow, Bloomberg Intelligence senior transportation & logistics analyst, to share his insights about the state of the freight railroad and trucking markets and what the demand outlook may have in store for these freight markets. Starks also talks about peak-season expectations, regulatory pressures on trucking equipment, need for better visibility for rail shipments and how burning CDs lead to a fulfilling career.
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The current trucking market appears to have the trappings of a more normal cycle, similar to the one in 2013-2017. This would mean that spot rates should continue to slowly move higher from here and could fuel contract rates to inflect positively for most of next year. In this Talking Transports podcast, Ken Adamo, vice president of strategy and business development and chief of analytics at DAT Freight & Analytics, joins Lee Klaskow, Bloomberg Intelligence senior transportation and logistics analyst, to share his insights about the state of the trucking market and what might be around the bend for the industry. Adamo also talks about the use cases for electric and autonomous trucks, challenges created by pending regulations and his love for being at the crossroads of transportation and data.
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Dislocations created by Russia’s invasion of Ukraine, low water levels in the Panama Canal and the crisis in the Red Sea have increased the demand for LNG tankers and has been a boost for time-charter rates and earnings for ship owners. Earning power will remain strong, even as they normalize lower from 2021’s peaks as rates remain well above breakeven levels for LNG tanker fleets. In this Talking Transports podcast, Oystein Kalleklev, CEO of Flex LNG and Avance Gas joins Lee Klaskow, Bloomberg Intelligence senior transportation & logistics analyst, to share his insights into the LNG tanker industry. Kelleklev also talks about the orderbook of these $260 million assets, demand trends, lowering emissions and the LNG tanker market becoming more dynamic following the 2011 Fukushima disaster.
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The next catalyst for truck dealers might be a rush to order vehicles late next year ahead of the US EPA’s 2027 emissions rules, which could increase the costs of trucks by about $30,000 over traditional diesel engines. Buyers are already facing higher costs from inflationary pressure that pushed up prices for new over-the-road trucks by 20-25% over pre-pandemic levels. In this Talking Transports podcast, Brian Fyda, vice president of Fyda Freightliner, joins Lee Klaskow, Bloomberg Intelligence senior transportation and logistics analyst, to share his insights into how truck dealers are navigating these challenges. Fyda also talks about inventories, the used-equipment market, the CDA cyberattack, electric truck demand and what it’s like to work in a family business.
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Less-than-truckload carriers are facing a challenging freight backdrop and more difficult comparisons as the industry anniversary of the bankruptcy of a major competitor approaches. In this Talking Transports podcast, Mario Harik, XPO’s chief executive officer joins Lee Klaskow, Bloomberg Intelligence senior transportation & logistics analyst, to share how the company is buffering these difficulties with a number of self-help initiatives called its LTL 2.0 strategy. This is yielding a more efficient and profitable network, as well as fueling better service metrics, such as on casualty claims and on-time performance. These productivity improvements and recent capacity additions should position XPO well for when the freight market turns. Harik also talks about electric trucks, operating driving schools and leveraging technology.
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In this Talking Transports podcast, Ben McLean, Ruan Transportation Management Systems’ CEO, joins Lee Klaskow, Bloomberg Intelligence’s senior transportation and logistics analyst, to talk about the state of the dedicated trucking market and what the future has in store. Dedicated trucking services offer shippers capacity free of the risks and expenses of owning and managing a fleet, letting them focus on their core businesses. For carriers this provides less earnings volatility than is associated with the over-the-road truckload market. McLean also discussed the challenges for the industry to lower emissions, given prevailing technologies, and tapping the FMCSA’s Safe Driver Apprenticeship Pilot to find safe, qualified drivers.
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Freight brokers’ increased penetration of the trucking market and a surge in small-business loans during the pandemic have contributed to the stubbornly slow pace of capacity exiting the market and are keeping spot rates from moving meaningfully higher. Truckload margins have been under pressure from rising costs and depressed rates. In this Talking Transports podcast, Craig Fuller, FreightWaves founder and chief executive officer, joins Lee Klaskow, Bloomberg Intelligence’s senior transportation and logistics analyst, to share his insights about the state of the North American trucking market and the future of the industry. Fuller also speaks about the feasibility of electric and autonomous trucks technologies as well as his love for cab-over designs.
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Increased penetration of online retail sales and global economic growth set up a strong backdrop for long-term volume growth for DHL’s eCommerce division, which provides domestic parcel-delivery services. In this episode of Bloomberg Intelligence’s Talking Transports podcast, Pablo Ciano, DHL Group’s board member and the eCommerce’s division CEO, joins Lee Klaskow, BI senior transportation and logistics analyst, to talk about how his organization will outpace global growth by 100-200 bps and its plans to improve operating margins back toward 5-7%. Ciano also discusses the upcoming peak season, consumer sentiment, M&A and how technology investments are fueling productivity gains. The eCommerce division accounts for about 8% of DHL Group’s revenue and 5% of Ebit.
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The global shipping industry has a long history of boom-and-bust cycles, which make SFL stand out for its ability to pay dividends every quarter for the past 20 years, says CEO Ole Hjertaker. In this Talking Transports podcast Hjertaker joins Lee Klaskow, Bloomberg Intelligence senior transportation and logistics analyst, to share his outlook for shipping subsectors including containers, tankers, dry bulk and car carriers as well as for jack-up drilling rigs. SFL’s model of owning maritime assets and chartering them via long-term contracts has created a stable business that’s focused on returning capital to investors. Hjertaker also talks about how the company is navigating new emission regulations facing the global shipping industry and the process of buying these expensive maritime assets.
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Spot trucking prices are finding a new equilibrium following the unprecedented strong conditions created during the pandemic. The spot market is critical because it provides a window into the health of the economy and is a leading indicator for the contract market, where so many large public carriers predominately operate. In this Talking Transports podcast, Brent Hutto, Truckstop’s chief relationship officer, joins Lee Klaskow, Bloomberg Intelligence senior transportation and logistics analyst, to share his insights into the spot truckload market and what’s ahead for the industry. They also discuss the recent results from the latest Bloomberg Intelligence/Truckstop truckload and broker surveys, as well as the impact of regulations on the industry and what he does for fun outside of raising his six children.
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The trucking industry is facing a barrage of regulations aimed at reducing greenhouse gases and nitrogen oxides. Trucks that can meet the EPA’s 2027 emission rules could come with a price tag of up to $30,000 more than traditional diesel engines. The presidential election may dictate the timing and approach to how the trucking industry will become greener. In this Talking Transports podcast, Laura Perrotta, president of the American Truck Dealers, joins Lee Klaskow, Bloomberg Intelligence senior transportation and logistics analyst, to share her insights into how truck dealers are navigating these challenges. Perrotta also talks about what California’s stricter emissions rules could mean for the industry, as well as pre-buying expectations, the CDA cyberattack and the used market.
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Freight insurance has become more important for shippers given increased geopolitical, environmental, economic and emerging risks facing supply chains. In this Talking Transports podcast, Shannon Schmidt, Nacora International Insurance Brokers’ president of North America, joins Lee Klaskow, Bloomberg Intelligence senior transportation and logistics analyst, to share her insights on an often overlooked part of international trade. The global marine cargo insurance market is expected to grow at a compounded annual growth rate of 5.9% to $34 billion between 2024-32, according to Astute Analytica. Schmidt breaks down the insurance implications of the crisis in the Red Sea and the collapse of Baltimore’s Frances Scott Key Bridge in March. Nacora is a division of freight forwarder Kuehne + Nagel.
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Product tankers are currently at the beginning of a multiyear rate cycle as a result of a lack of new vessels coming on line and an outlook for demand growth. Pricing has gotten a boost from longer ton-miles created by the crisis in the Red Sea and Russia’s war in Ukraine. In this Talking Transports podcast, Mikael Skov, Hafnia’s co-founder and CEO, joins Lee Klaskow, Bloomberg Intelligence senior transportation and logistics analyst, to share his insights on product tanker markets. Skov also talks about how the company is navigating new emissions regulations facing the global shipping industry, as well Hafnia’s fleet, use of cash, demand trends, vessel prices, its use of cash and how his mom nudged him into a successful career in shipping.
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Second-quarter earnings reports could show that the worst is behind freight transportation and logistics companies that may see muted progress heading into 2H. In this episode of Bloomberg Intelligence’s Talking Transports podcast, Evercore ISI’s senior managing director and surface and marine transportation equity analyst Jon Chappell joins Lee Klaskow, BI senior transportation and logistics analyst, to share his thoughts on what investors could expect from quarterly reports and for the rest of the year. Market disruptions like the Red Sea crisis and failure of Yellow have benefited tanker and less-than-truckload companies, which has added to his positive pricing thesis. He also talks about growth prospects for intermodal, nearshoring and some of his favorite names in his coverage universe.
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