Q1 volumes expected to be strong, but reefer capacity is tight
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Analysts are expecting a strong first quarter for consumer and freight volumes as stimulus checks are distributed and the labor market slowly recovers. However, reefer capacity remains incredibly tight, especially in California where agencies have started leasing refrigeration trailers as temporary storage for COVID-19 victims.
FreightWaves author Hunter Carroll takes a deeper dive into the reefer order market in his new newsletter, The Stockout.
OmniTRAX is the latest company to come under ransomware attack and it confirmed to FreightWaves the Conti ransomware gang posted stolen data on a leak site and demanded payment for the data.
Swimming with sharks
Founder of TrophySmack Matt Walsh makes a second appearance on WTT?!? fresh off a successful trip to “Shark Tank.” Walsh has a logistics background with Echo and credits that background for helping his success on the show.
Walsh pitched his company in front of the sharks in Las Vegas, a complete turnaround from the usual “Shark Tank” pitching taped in Los Angeles. He says he was “a deer in headlights” because he was unfamiliar with the television aspect and that added challenge to his pitch.
Walsh secured the deal with Mark Cuban, saying “he made the most sense for us,” and that the next steps are to accelerate the fantasy sports aspect of their business into other industries; they want to expand custom trophy creation to be for more than just fantasy.
Navigating liability for brokers
Dooner and The Dude host Elizabeth Simpkins, regional underwriting officer for inland marine and transportation for Travelers Insurance to learn about the differences in liability issues for shippers, carriers and brokers.
Simpkins says brokers can decrease their liability by doing a few things: knowing what they’re signing, knowing the role their company is playing in the agreement, and understanding the coverage they have should something go wrong or their motor carrier refuses to pay a claim.
Kraft logistics, but not cheesy
Next up on the WTT?!? slate is Trent Zuberi, associate manager of logistics finance and freight payables at The Kraft Heinz Co.; Dooner and The Dude bring him on by playing a sample from his band HEMI.
Zuberi reflects on the panic grocery buying that happened in spring 2020, saying that was definitely a boost for Kraft Heinz sales. He thinks the panic put a damper on product innovation but also “led to some brand loyalty.”
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