Customer Fraud Prevention #3: How to Combat Fraudsters

By |2024-04-10T14:01:16+00:00October 11th, 2023|Customer Fraud & Cargo Theft Campaign, Weekly Market Update| Three Steps to Combatting Fraudsters Once and For All Alright, so today brings us to our 3rd and Final topic in our customer fraud prevention series.  We started this journey by discussing the different types of freight fraud, in the second one we talked about how to identify certain types of fraud

Customer Fraud Prevention #2: Identifying Double Brokering

By |2023-09-06T18:25:03+00:00September 6th, 2023|Customer Fraud & Cargo Theft Campaign, Logistics|   Double brokering has been a concern for brokers, carriers, and shippers alike for years. The term double broker is relatively self-explanatory: It often refers to a brokered or shipper tendered load being sent to a known carrier, and from there the load is then tendered to a carrier unbeknownst to the original

Customer Fraud Prevention #1: Freight Fraud & Cargo Theft

By |2023-08-30T15:43:20+00:00August 30th, 2023|Customer Fraud & Cargo Theft Campaign, Weekly Market Update| Top 3 Theft Commodities The Top 3 most targeted theft commodities in transportation are: Food and Beverage, Household Goods, and Electronics. CargoNet, who specializes in cargo theft prevention, "recorded 582 events across the United States and Canada in the second quarter of 2023" equating to over $44 million in stolen shipments. Of the

Weekly Market Update for June 16, 2023

By |2023-06-14T17:38:01+00:00June 14th, 2023|Weekly Market Update|   The LMI, or the Logistics Managers Index, reached an all-time low for the first time in the index's almost seven-year history in May coming in at a reading of 47.3. Of the 8 subsets that make up the LMI, warehousing capacity was the only category that registered expansion growth. Transportation utilization and

International Roadcheck Week! (Weekly Market Update 5/15/23)

By |2023-05-18T17:19:13+00:00May 18th, 2023|Logistics, Weekly Market Update|   International Roadcheck Week ran from the 16th to the 18th. Over 1.8 million inspections have taken place since 1988 over these 72-hour blitz periods. This year, CVSA-certified inspectors with be focusing on vehicles ABS and drivers' cargo securement. While these are the 2 main focuses for inspectors this year, that doesn’t exclude

Weekly Market Update 03/27/2023

By |2023-03-29T18:39:24+00:00March 29th, 2023|Logistics, Weekly Market Update|   The IOTI, or the Inbound Ocean TEU Volume Index, saw some sort of life after bouncing back from February’s consumer holiday slump and Chinese New Year. However, still down 51% from both 2021 and 2022. The spread between inbound shipments and inbound TEUs moving in opposite directions since converging at the

Weekly Market Update 12/5/2022

By |2022-12-06T18:57:33+00:00December 6th, 2022|Logistics, Weekly Market Update|

  Contract van rates took a $0.14 hit from November to December. This marks the most significant MoM decrease in contractual rates this year. On the other hand, spot rates jumped $0.02 MoM, from $2.38/mile including fuel on average to $2.40, according to DAT. This marks the first increase in DAT’s spot rate

Weekly Market Update 11/28/2022

By |2022-11-29T19:07:44+00:00November 29th, 2022|Logistics, Weekly Market Update|

  Seasonally adjusted Jobless claims are now at their highest point since August, jumping 17,000 WoW. Claims mimicking 2021 levels currently, however, in a much different landscape. Last year claims were starting to trend downward by the latter half of September, while claims this year have been rising intermitted over the same period.

Weekly Market Update 11/21/2022

By |2022-11-28T14:20:56+00:00November 28th, 2022|Logistics, Weekly Market Update|

  The Brotherhood of Locomotive Engineers and Trainmen or the BLET agreed to approve a deal that would keep its 24,000 members from striking during the next legal protest period on December 9th. The SMART transportation division however, just barely failed to reach an agreement, with 50.87% of their members voting no on

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