The Great Freight Recession, which has forced companies to file for bankruptcy or to go out of business since 2022, continues to victimize trucking and logistics companies. Many of the companies have blamed reduced shipping demand, lower freight rates, and rising costs of labor, fuel, and insurance, which have impacted revenues and profits. The good news is that consumers might find better prices to ship goods, though the industry could lose some businesses if demand and rates don't improve and inflatio ...

Core Insights - Estes Logistics has acquired Key Trucking, marking a significant expansion in the Pacific Northwest [8] - The acquisition adds over 25 power units and 100 trailers to Estes Logistics' fleet, with all Key Trucking employees retained [8] - The integration aims to enhance service levels for existing customers of Key Trucking, leveraging Estes' resources [8][5] Company Overview - Key Trucking, founded in 1987 and based in Kent, provides a range of logistics services including full truckload, same-day delivery, warehousing, and trailer rentals [4] - Estes Logistics operates a network of service centers across several states, including California, Illinois, Ohio, New Jersey, Texas, and Florida, separate from its LTL business [3] Industry Context - Recent mergers and acquisitions in the logistics sector have seen family-owned firms integrate with larger companies, indicating a trend towards consolidation in the industry [6]

Core Insights - The freight market is entering 2026 with cautious optimism, moving away from the extreme volatility of recent years, as shippers and carriers adopt different strategies based on new survey data from Echo Global Logistics [1] Group 1: Carrier Perspectives - Carriers expect a more favorable pricing environment in 2026, with the majority anticipating increases in both contract and spot rates, often in the mid-single digits or higher [2] - Approximately half of surveyed carriers plan to add drivers, but they remain cautious about capacity expansion due to past overcorrections following pandemic-era demand [2] Group 2: Shipper Perspectives - Shippers have a more conservative outlook, with a significant portion expecting flat or declining rates, reflecting ongoing pressure on transportation costs, which has been the top challenge for shippers for four consecutive years [3] - The differing rate expectations between shippers and carriers will influence procurement negotiations throughout 2026, as carriers price for improvement while shippers budget conservatively [4] Group 3: Volume Expectations - Both shippers and carriers anticipate demand growth in 2026, although carrier optimism has moderated compared to the previous year, creating a dynamic that will influence capacity planning and procurement strategies [5] Group 4: Procurement Strategies - A growing percentage of shippers are adjusting their procurement approaches to be more flexible, relying on market conditions rather than fixed annual plans, reflecting the need to adapt to rapidly changing market dynamics [6] Group 5: Technology Adoption - Technology adoption patterns are shifting, with shippers showing increased interest in automation and AI-driven solutions, while carrier adoption rates for major tools have leveled off [7] - Shippers prioritize technology for cost reduction, whereas carriers focus on service reliability and freight quality [7]

Core Insights - The freight landscape is increasingly complex, driven by shifting trade patterns, labor constraints, and evolving customer expectations, prompting shippers to rethink their transportation networks [1] Company Overview - Echo Global Logistics has grown from a $7 million startup to a company generating over $4 billion in revenue over its 20-year history, including more than 25 acquisitions [3] - The transition back to private ownership under The Jordan Company has allowed Echo to adopt a long-term strategic approach to business development [4] Investment in Technology - Echo is investing over $80 million annually in technology initiatives, a shift made possible by the pressures of being privately owned, which contrasts with the short-term focus experienced as a public company [4] Customer-Centric Strategy - The company emphasizes the importance of understanding customer needs, utilizing annual shipper and carrier satisfaction surveys to gather thousands of responses and identify unmet needs [5][6] - Echo has expanded its service offerings beyond traditional shipping methods, including the acquisition of Roadtex, which specializes in temperature-controlled, food-grade shipping and warehousing, resulting in over 30 locations and more than 3 million square feet of warehouse space [6]

As artificial intelligence continues to reshape the logistics industry, Echo Global Logistics is discovering that the path to significant productivity gains requires more than simply applying new technology to old processes. In a recent conversation with FreightWaves, Zach Jecklin, CIO of Echo, shared how the company’s evolving AI strategy is unlocking transformative improvements by rethinking workflows from the ground up. Research findings after a couple years of AI implementation reveal a striking pat ...

Exec Edge hosted a fireside chat at the ICR Conference 2026 with Orazio Buzza, Founder and Chief Executive Officer at Fooda. The in-person interview was joined by Editor-at-Large Jarrett Banks, and they discussed how Fooda supports companies like Amazon.com, Inc. (Nasdaq: AMZN), Southwest Airlines Co. (NYSE: LUV), and restaurants’ workplace dining experience especially with hybrid work culture, among other topics. About Orazio Buzza Orazio Buzza is the Founder and Chief Executive Officer of Fooda, a Chica ...

This story was originally published on Trucking Dive. To receive daily news and insights, subscribe to our free daily Trucking Dive newsletter. Dive Brief: Echo Global Logistics has entered into a definitive agreement to acquire ITS Logistics from GHK Capital Partners LP, the company announced Wednesday. Although the transaction price was not disclosed, the deal creates a transportation and logistics giant with 2025 pro forma revenues estimated at $5.4 billion, per the release. The transaction is expe ...

Core Insights - Odyssey Logistics has experienced a rapid deterioration in its debt rating, with Moody's cutting its corporate family rating to Caa-1 from B3, marking the second downgrade in less than three months [1][2] - The Caa-1 rating is classified as "junk" and is significantly below investment grade, indicating a high risk of default [2] - Prior to the recent downgrades, Odyssey held a B2 rating, which was affirmed in March 2024 [3] Rating Details - The latest downgrades occurred despite Moody's maintaining a "stable" outlook on Odyssey, which is unusual as downgrades typically follow a negative outlook [4][5] - The current Caa-1 rating is one notch below S&P Global Ratings' B- rating, which has remained unchanged since June [2] Financial Performance - Odyssey is ranked as the 80th largest brokerage with gross revenue of $169 million, which is relatively small compared to larger competitors that typically have publicly-traded debt [6] - Moody's cited high leverage and weak interest coverage as primary concerns, attributing these issues to a challenging freight market characterized by weak pricing and low volumes, leading to lower earnings and negative free cash flow [7]

Core Insights - FreightWaves announced the winners of the 2026 FreightTech 25 awards, recognizing innovative companies in transportation and logistics for the eighth consecutive year [1] Group 1: Award Process - Nominations for the FreightTech awards were opened earlier in the year, leading to a shortlist of 100 companies, the FreightTech 100, which was evaluated by approximately 80 industry judges [2] - Judges created ranked lists, and a points system was used to determine the FreightTech 25, with first-place votes earning 25 points and descending to 1 point for the 25th place [3] Group 2: Notable Winners - Highway secured the top position for its focus on solving carrier identity, marking its second consecutive win in the FreightTech 25 [4] - DAT Freight and Analytics, after acquiring Convoy, Trucker Tools, and Outgo, achieved the 10 spot, while C.H. Robinson, through the deployment of agentic AI, made its first appearance at 13 [4] - Repowr, under new CEO Chris Hines, debuted at 12, and Transflo made its first appearance after launching an AI workflow that saves customers millions [5] Group 3: Acquisitions and Rankings - Triumph's acquisitions of Greenscreens and ISO contributed to its 4 finish, highlighting the impact of strategic acquisitions on rankings [6] - The list included eight tech-enabled transportation providers, such as Amazon Freight (6) and C.H. Robinson (13), as well as three autonomous truck companies, including Aurora Driverless Trucks (2) [7]

Core Viewpoint - Echo Global Logistics is expected to maintain steady earnings and adequate liquidity despite challenging freight market conditions, with little chance for a significant turnaround in performance [1][5]. Credit Ratings - Moody's has maintained Echo Global's corporate family rating at B3, equivalent to a B- at S&P Global Ratings, indicating a non-investment grade status [1][3]. - The probability of default rating is affirmed at B3-PD, and the senior secured bank credit facilities rating is at B2, one notch higher than the corporate family rating [2]. Market Position - Echo Global has shown modest freight volume growth despite soft economic conditions, particularly in the manufacturing sector [5]. - The company's credit metrics, including financial leverage and interest coverage, remain weak, limiting financial flexibility until broader freight market conditions improve [5]. Financial Performance - Echo Global is characterized by low profit margins, high leverage, and expectations for modest free cash flow over the next 12 months [5]. - EBITDA margins typically range from 3% to 5%, with a comparison to RXO, which reported a second quarter EBITDA margin of 2.7% [6].