On this episode of Midday Market Update, Kaylee Nix and Michael Vincent get a close look at the intricacies of moving freight across borders. They are joined by FreightWaves’ Zach Strickland for a market update and Anthony Smith for a look at Q1 GDP and unemployment numbers.
First in headlines, Andrew Cox looks at Echo Global Logistics’ record-breaking first-quarter earnings, a shocking report from GrubHub and pressure on the U.S. Department of Transportation to support agriculture exporters by solving problems at the ports.
Nix and Vincent welcome Teclo Garcia, economic development director of Laredo, Texas, as their first guest. Garcia explains how business at the Port of Laredo has changed over the past year and how it has been crucial to cross-border logistics for both U.S. and Canadian companies.
FreightWaves Senior Editor Greg Miller joins the show with his look at the maritime industry and some advice for shippers as contract season comes to a close. He says no matter if a shipper decides to go contract or play the spot market, expect to continue to pay massive amounts of cash to get freight on a ship at least through the end of 2021.
Last up is Forager CEO and founder Matt Silver; he explains the concept behind Forager and the unique platform designed to streamline international freight movement and make it easier for carriers to hand off freight as it moves across countries.