DC Velocity: Logistics industry growth slowed in July
Moderate expansion was driven by smaller firms, where inventories remain high and capacity tight, latest Logistics Managers’ Index report shows.
Moderate expansion was driven by smaller firms, where inventories remain high and capacity tight, latest Logistics Managers’ Index report shows.
After declining seasonally throughout July, last week’s national average spot rates were virtually unchanged compared to the previous week (July 27 to August 2). The total number of loads on the DAT One marketplace increased by 5% week over week, while the number of trucks fell by 11%.
Broker-posted spot rates in the Truckstop.com system for dry van and refrigerated equipment increased for the first time in four weeks during the week ending Aug. 1, although the gains in both cases were small.
After declining seasonally throughout July, last week’s national average spot rates were virtually unchanged compared to the previous week.
The carrier is starting similar conversations with truckload customers about higher shipping costs.
Convoy, the one-time freight tech titan that grew to a $3.8 billion valuation before its sudden implosion left dozens of carriers unpaid, has been acquired by DAT Freight & Analytics as part of the load board's bid to become the "safest" freight market around.
DAT just bought the Convoy platform from Flexport and brought on Bill Driegert to help lead it. Is this the rebirth of digital freight, or a new freight tech power grab?
DAT Freight & Analytics is acquiring the Convoy Platform from Flexport.
In a striking move, digital freight forwarder Flexport has sold the core Convoy technology platform it acquired in late 2023 to DAT Freight & Analytics for approximately $250 million, less than two years after buying it for roughly $16 million .
Flexport sold digital freight network Convoy's assets to DAT Freight & Analytics for $250 million, according to a source familiar with the deal.