In freight technology news, load board provider DAT announced its acquisition of payments platform Outgo last week. This strategic move aims to integrate the entire freight transaction process into the DAT One ecosystem, with a key benefit being that carriers can now potentially get paid much faster, sometimes within just 15 minutes. Outgo, founded in 2022 by former Uber and Convoy technologists, focused on bundling banking, factoring, and payment services, including a "fractional factoring" model giving carriers more control. This acquisition is seen as positioning DAT to become the freight industry's central exchange platform, competing with others like Triumph Financial who are also building their ecosystems.
Turning to maritime trade, the Port of Long Beach recorded its strongest April on record last month. The port handled 867,493 twenty-foot equivalent units (TEUs), representing a 15.6% year-over-year increase attributed to importers frontloading tariff-affected cargo. Imports saw a significant 15.1% year-over-year rise, while exports slightly declined. Even with this record, the port anticipates a more than 10% drop-off in imports in May, with effects expected beyond the docks.
In Washington D.C., lawmakers are processing a large volume of input from the trucking sector. The Department of Transportation (DOT) received over 900 recommendations for regulatory removal as part of implementing executive orders to cut bureaucracy. Approximately 30% of these recommendations came directly from the trucking industry and addressed regulations affecting drivers and carriers.
Finally, mark your calendars for upcoming Freight Waves TV programming, including The Stockout and What the Truck?!?. You can also find details on the Fraud Fighters Award winners and information on the upcoming Domestic Supply Chain Summit this week.
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