Category: Freight Brokers

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Freight Brokers Lifestyle

Air Partner Freight continues strong growth trajectory in H1 2018

Following on from a record 2017, the Freight team at Air Partner has enjoyed a busy and fruitful first half of the financial year, winning cargo mandates from a variety of new and existing customers. As was recently announced in Air Partner’s interim results, Freight gross profit was up 36.4% for the six months ended 31 July 2018. Air Partner’s 24/7 offering and personalized service have continued to attract clients over the past year and time-critical requests are an important segment of the Freight business. Clients that use Air Partner’s Freight services are diverse, from Oil Gas companies to Charities.

Air Partner’s freight division has continued to grow its global operations. The Freight division has achieved this growth in the face of mounting pressure in the market for charter brokers to change tactics to increase their market share by either working directly with shippers or becoming aircraft operators in their own right.

Air Partner, however, remains true to its principles by working solely with freight forwarders. Mike Hill, Director of Freight at Air Partner, commented: “I am proud of the tireless work of the Freight team and our success in the first half of the year. We won’t be resting on our laurels, however – we are committed to continue growing our client numbers, whilst never sacrificing the high levels of customer service that are synonymous with Air Partner.” Air Partner Freight charters aircraft of every size to fly cargo anywhere, at any time, whatever its weight, size or shape.

Serving freight forwarders, governments, relief, and humanitarian organizations, the freight team provides bespoke air charter solutions to meet a wide range of cargo charter needs. From urgent ‘go now’ requirements moving small quantities of automotive spare parts, through to the most complex project cargo shipments taking several months to plan, Air Partner Freight has the skills, experience, and expertise to ensure shipments are handled securely and reliably. Air Partner Freight has cargo specialists in the UK, USA, Germany, France and Turkey, who provide a strength of knowledge by utilizing all types of aircraft for tailored cargo charter services.
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Freight Brokers

Freight Brokers- Logistics Guide

We’re already well into 2018, and a lot has happened in the logistics and transportation industry. The ELD mandate continues to be a controversial topic, we’re keeping an eye on the current capacity crisis, the industry is soaring to new technological heights with autonomous vehicles, and so much more.

Whether you’re a carrier, trucker, or freight broker, it’s crucial for everyone in the industry to stay up to date on the latest news and trends. As a truck driver or carrier, it’s important to know the latest regulations and news so you know how to keep doing your job efficiently (and legally). For freight brokers, knowing what’s going on in the industry can help you manage your loads, keep positive relationships with your carriers, and continue to provide the best support possible.

Freight Broker – A freight broker is a company or individual who acts as a middleman between the transport service provider and the customer. Freight brokers do not actually provide the truck or the shipping, but instead, they provide essential services that will help the shipper identify the best freighting company.

A freight broker is in constant contact with the transportation industry and they have the expertise to secure competitive freight ranges with carriers and honoring the shipper’s needs and requests.

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Business Freight Brokers

35% of brokers have authority revoked in bond increase measure, broker group says

The number of freight brokers disappearing from the federal rolls has been increasing by the hundreds every day since Dec. 1, following the new requirement to carry a $75,000 bond, boosted from $10,000 by the MAP-21 highway funding act passed last year.

Today, 35 percent of brokers in business at the beginning of the month no longer have active authority, says James Lamb, president of the Association of Independent Property Brokers & Agents.

As of noon, Dec. 10, 7,561 fewer authorized brokers were active than on Dec. 1, Lamb said, and that number will likely continue to rise until around Dec. 15 — 30 days after the last of the notices of investigation were sent to brokers by the Federal Motor Carrier Safety Administration. Overdrive reported last week on the decrease in brokers and AIPBA’s court fight against the bond increase. Click here to see it.

That number, however, could also include brokers who had their licenses revoked for reasons other than not complying with the bond increase, said Norita Taylor, spokesperson for the Owner-Operator Independent Drivers Association. She also said OOIDA hasn’t heard from any of its members about losing brokers.

FMCSA published a notice in September 2012 saying it would revoke operating authority from brokers who did not comply with the bond increase by Dec. 1, even though the MAP-21 bill required brokers to comply with the increase by Oct. 1.

Brokers are now required to carry a surety bond of $75,000 — up from the previously required $10,000. OOIDA supported the increase, saying it would better protect owner-operators who otherwise would not have been paid by over-extended brokers.

Taylor said the increase helps protect owner-operators from fraudulent brokers. “While most brokers provide a valuable service, the previous system left too much room for fraud where funds were collected from shippers but not paid to owner-operators.”

The American Trucking Associations and the Transportation Intermediaries Association also support the increase.

Because of the 60-day grace period and the time that brokers had to comply with the bond increase, Lamb says it’s “highly unlikely a significant amount” of the non-compliant brokers will be reinstated.

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Freight Brokers Owner Operators Trucker News

Thousands of brokers lose Authority

The number of brokers registered with FMCSA may be dropping — coming on the heels of the enforcement date of the increase in the minimum surety bond required for brokers to carry — but some of the numbers being tossed out don’t represent what’s actually happening, said Chris Burroughs, who’s with the government affairs staff of the Transportation Intermediaries Association, a broker trade group.

Rather than a non-compliance issue, Burroughs said, the number of brokers losing their authority (more than 7,500 by noon Dec. 10) is also dropping because the Federal Motor Carrier Safety Administration database was out of date, he said. “We feel like there were a lot of people out there who had active authority but weren’t actively doing business and hadn’t been for some time,” he said. “The database had a lot of scrubbing to do.”

A,TI along with the American Trucking Associations and the Owner-Operator Independent Drivers Association, supported the increase, which was included in the MAP-21 highway funding act passed last year.

The increase to $75,000, Burroughs said, was something TIA, OOIDA and ATA sat down to work out, finding a compromise that worked for all three groups.

Even though the broker numbers are falling, he said, TIA “absolutely still support(s)” the increase, and the impact to the brokerage industry and the trucking industry will be “minimal, if nothing at all.”

Another broker trade group, the Association of Independent Property Brokers & Agents, is fighting the increase in court, and its president, James Lamb, has said up to 75 percent of current brokers could be forced out of the business by the bond increase. The increase will have a particularly harsh impact on small brokers, Lamb said.

Burroughs said 70 percent of TIA’s membership is made up of brokers with less than $2 million in annual revenue, and the effect on TIA’s membership has been minimal, he said.

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Business Carriers Freight Brokers Freight Factors

Illegal Brokerage Among Carriers Still Gray Area

On October 1, the FMCSA issued a Final Rule that adopts regulations required by MAP-21. The rule includes the provision which sets a minimum financial security of $75,000 for brokers and freight forwarders, including carriers that occasionally broker loads.

In the Final Rule, the FMCSA states that compliance with the new rule will cost the industry $15.9 million initially. It has identified 2,212 freight forwarders that are impacted and estimates that the financial impact will be $1.69 million in the first year. For the 21,565 brokers on record the initial cost will be $14.21 million.

You’ll notice that there is no estimate for the carriers that need to obtain a $75K bond and broker authority to comply. That’s because the FMCSA admits that it has little information as to the extent of the unlicensed broker population within the motor carrier industry, which makes estimating the costs to this group difficult, if not impossible.

Since this population is difficult to identify, the FMCSA will initially work with industry groups to get complaint information on motor carriers that are acting as brokers illegally through its National Consumer Complaint Database.

The FMCSA also warns that carriers that act as unlicensed brokers may be subject to private civil actions.

So, unless you are moving every load on your own equipment and under your own carrier authority (for at least one leg of the journey), you need to obtain broker authority and the $75,000 bond that goes with it.

If you’re a DAT customer, learn more about a special bond offering for DAT customers through preferred solutions provider Integro.

As we’ve noted before, you must have active operating authority as a broker if you want to post your loads to DAT Load Boards.

For more information on how MAP-21 impacts carriers, read: Surprise! The Broker Bond Affects Carriers.

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Freight Brokers

Freight Broker License

A freight broker, also called a broker authority or freight broker agent, is a domestic transportation expert who is knowledgeable about the logistics of cargo shipment of manufactured and distributed products. A freight broker company arranges for transportation of trade cargo by contracting with for-hire transportation motor carriers. They generally do not take possession of the cargo, nor assume responsibility for the cargo arranged with motor carriers. They deal with much of the technical shipping documentation, including terms and fees. In the United States, a freight broker license is required for operating freight broker business.

Obtain the required freight broker training and knowledge. While a degree program is not required, freight broker training programs exist to educate prospective freight brokers about the relevant transportation logistical knowledge, using an assortment of training manuals and books. You can also apprentice with a licensed freight broker.

Apply for the license. The U.S. Department of Transportation’s Federal Motor Carrier Safety Administration (FMCSA) is the government agency that issues freight broker licenses. Complete the FMCSA’s Form OP-1 Application for Motor Property Carrier and Broker Authority and pay a fee of $300. The FMCSA will then assign a Motor Carrier Number you must have to continue the application process.

Obtain a surety bond to file with the FMCSA. The required insurance bond amount for a freight broker license is established by the FMCSA and must be obtained prior to OP-1 Application approval. The current bond requirement is $10,000. You must file proof of bond with the FMCSA while the application is pending.

File an FMCSA Designation of Process Agent form for each state you plan to conduct business in. A process agent must be designated for each state the prospective freight broker seeks to operate in case a legal action is filed against the freight broker. This filing must also be completed prior to an application approval by the FMCSA.

Submit all completed materials to the FMCSA. Refer to the FMCSA’s website for the mailing and payment options for submitting the Form OP-1 application, other filings and proper fees. The wait time on an FMCSA application is generally one to two months.

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Freight Brokers

Cargo Freight Company

Logistics
A big part of starting a cargo freight company is figuring out logistics and costs for moving cargo. Analyze the cost of shipping cargo within the United States by land and water, and into foreign countries. This includes accounting for customs, freight duties and cost of transportation. The general costs for transportation include not just gas, but also vehicle maintenance, driver salaries, tolls and loading and unloading.

Strorage and Shipping
Some cargo freight companies will also factor in the storage of freight in a warehouse during delivery. When freight is shipped, sometimes it ships from one warehouse to another, then is picked up by another driver and shipped to a final destination. This is all part of the complicated logistics solution that you as a shipping company can provide. The companies that do it cheapest are the ones that succeed. Gather information not just on the cost of shipment, but also on warehouse storage. Find several options for storage that you can work into your plan.

Analyze Vehicle Costs
Vehicle costs are another large topic to investigate. Freight trucks must be dependable and fuel efficient. Diesel engines also require specialized mechanics. Hourly wages range from $20 to $50 or more. Find a servicing company that can provide maintenance, or look into hiring a full-time diesel mechanic for your cargo freight shipping company.

Buy a Warehouse or Rent
You will need a warehouse. Look into the prices on warehouses for sale through a commercial real estate broker. They have the best insights into the market and will also give you comparisons on renting a warehouse over buying. Compare the costs and balance your budget accordingly. If you do not want to take on additional assets, renting a warehouse is probably your best option.

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Freight Brokers Trucker News

Trucking Firm Owners Convicted Of $924K Fraud

The owners of a southwest Missouri trucking company have been convicted in a conspiracy that defrauded boat maker Tracker Marine of at least $924,000.

A federal judge on Wednesday found James Keith Ivey and his wife, Melinda Kay Ivey, guilty on numerous counts including fraud and money laundering.

The Iveys owned J&M Trucking, in Lebanon, Mo. The company made deliveries for Springfield-based Tracker Marine, which sells boats and trailers throughout North America.

Prosecutors say Tracker employee Paul Ray Hunting worked with the Iveys to submit hundreds of inflated invoices to the company by adding 158 miles to each delivery. The couple and Hunting shared the proceeds of the fraud, with Hunting receiving nearly $266,000 over three years.

Hunting now lives in California. He pleaded guilty to the scheme earlier.

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Freight Brokers Freight Factors Lifestyle

You’re Not On Their Mind, If You’re Not On The Phone

The freight brokerage industry can be highly competitive and volatile. It is your job to secure new customers and develop relationships that will help you keep those customers. However, your customers may be all over the country making a personal relationship hard to develop. You can overcome this by keeping in close contact with your customers and touching in early and often to keep your company front of mind for each client.

Communication…Keep It On Your Mind

Hitting the phones and providing great communication seems like an easy thing to do but far too many of us don’t do it well. There are a lot of situations we can make end up differently if we offer the necessary information our customers need during every step of the process. A great freight broker or transportation agent of any kind knows, “if you’re not on the phone, you’re not on their mind.”

Communication…Staying On Your Customers’ Mind

As a freight broker it may not always be easy to touch base with all your customers all the time. Easy or not it is your role and the reason for freight brokerages. As the communicator between the shipper and carrier you may have to deliver news you don’t want to, play hard ball for better rates on both the shipper and carrier sides, and manage different personalities all while keeping everyone happy with you and your freight brokerage business. Practice different sales techniques to develop your method for juggling all these variables and making sure you are doing what is most important for your business: getting the margin you need and maintaining your book of business.

Communication…Changing Your Prospects Mind

A freight broker needs to consistently increase his or her contact list by seeking out more shippers for continuous business opportunities. It is imperative for a freight broker to continue building their book of business to ensure they can overcome the natural lows shippers goes through during the year. Lows are caused by things like seasonality, changes in the economy, or even just broker selection by the shipper. It is possible to plan for some of these while others come by surprise. Constant solicitation will give a broker a diverse customer base so they stay busy the whole year.

There are a lot of freight brokers out there. Many are much better than others but to a shipper it’s often hard to tell them all apart. It is your job to go the extra mile to prove to your current clients and prospects you are worth the risk. Brokers who can rely on name recognition and a solid reputation often find doors open for them. Those that fight to represent their company well and work to better their reputation every day find those same doors stay open.

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Freight Brokers Lifestyle

Brokers Life and Health Insurance

Life and health insurance brokers, also called agents or producers, are in a competitive business that is dependent upon a consumer planning for the future. Health insurance policies help individuals pay for medical bills. Life insurance policies give money to the beneficiary listed on the policy in the event the insured dies.

What Life & Health Insurance Brokers Do
Life and health insurance policies help individuals plan for the unthinkable, and it is a life and health insurance broker’s job to make planning for these events less stressful. Brokers specialize in selling health insurance policies to business owners who want to offer health insurance coverage to their employees and to individuals who do not receive health benefits through an employer. While life and health insurance brokers may offer life insurance to a company as an employee benefit, many agents encourage an individual to purchase his own separate life insurance policy in the event the he loses his job. In addition to selling life and health insurance policies, brokers may also sell dental insurance, annuities and long- or short-term disability policies. Brokers also assist clients with filing and settling claims.

Training
Every life and health insurance broker must have a state-issued license to sell life and health insurance. The license to become a life and health insurance broker is typically awarded, according to the U.S. Bureau of Labor Statistics, to licensed insurance agents who have completed pre-licensing training and passed the test to become a broker in these specific lines of insurance. While a college degree in finance, economics or business is not necessary to become a broker, insurance companies prefer to have brokers with degrees in higher education because they tend to have a better understanding of the insurance industry and how the industry is influenced by social and economic conditions. Additionally, courses in public speaking, marketing and sociology can help a broker have better sales techniques.

Where to Work as a Life & Health Insurance Broker
Many health and life insurance brokers work in insurance agencies, as the owner of the agency or as an employee licensed to issue life and health insurance policies. Many independent life and health insurance brokers learn their job duties by working for another agent while taking continuing professional education courses to remain up to date on current laws, insurance trends and products, before opening their own agencies.

Wages
The U.S. Bureau of Labor Statistics reports that the median annual salary for a life and health insurance broker in 2008 was $45,430, with the middle 50 percent earning $33,070 to $68,730. Many brokers only receive commission payments, but brokers who met sales goals often received a bonus. Brokers who do not own an agency may receive group insurance benefits, paid continuing education courses, transportation expenses and office space. Brokers who own an agency may not receive as many benefits, but may receive higher commission payments to help pay for office and marketing expenses.