This article needs additional citations for verification. Please help improve this article by adding citations to reliable sources. Unsourced material may be challenged and removed. Find sources: "Freight exchange" – news · newspapers · books · scholar · JSTOR(February 2017) (Learn how and when to remove this message)
A freight exchange or load board[1] is an online service for haulage companies, logistics providers, freight forwarders, transport companies and (in some cases) private customers. It allows haulage companies to search a database of available freight that needs to be delivered and advertise their available vehicle capacity. Logistics providers and freight forwarders can advertise their freight loads that need delivering and also match their freight loads to the available vehicle capacity.
These systems provide a platform that allows carriers to communicate freight traffic information to fellow operators such as transporters, forwarders and logistics companies. They allow forwarders to advertise their freight either privately or publicly to a large number of freight operators that are looking for loads. They also allow freight operators to offer vehicle space. Online systems are often subscription-based with a small charge for advertising (posting) and searching (consulting). Some freight exchanges operate without monthly fees. They charge transport providers only a success fee, which is payable when the quote is accepted.
The main purpose of a freight exchange is to fill empty vehicles on their return journeys (when they are on their way back to their depot after a delivery) by matching them to available freight.
For example, a trucker has an order to transport tulips from Keukenhof in the Netherlands to Como, Italy. Ideally, a freight order for the return trip would increase profitability, so the trucker would search for return freight or return load on a freight exchange.
Finding return loads results in improved efficiency for haulage and transport companies as well as helping cut down on empty journeys, which reduces CO2 emissions.[2] Transport is responsible for 25% of global emissions of greenhouse gases (including CO2) in the European Union.[3] Around 24% of road freight journeys in the UK were empty in 2019.[4]
The world's first electronic freight exchange was called Teleroute and was launched in France on the Minitel system in 1985. Before the Internet, users were supplied with a terminal to advertise or search for freight. Today, there are many examples around the world offering many services to haulers and freight forwarders. S
The classic freight exchange was a favorite tool in centralized economies. For example, there was a ban on driving with an empty truck in the socialist Czechoslovakia. Transport companies had to use the national system showing information about available loads.
With the help of new technology, freight exchanges are now able to improve efficiency even more by integrating with telematics and transport management systems to offer real-time freight load matching utilizing GPS technology.[5]
^"What Is A Load Board". MercuryGate International. Retrieved 2022-11-29.
^"Top 5 benefits of using a freight exchange". 19 May 2015.
^"File:Greenhouse gas emissions, analysis by source sector, EU-27, 1990 and 2018 (Percentage of total).png - Statistics Explained". ec.europa.eu. Retrieved 2020-11-16.
^"Road freight transport by journey characteristics - Statistics Explained". ec.europa.eu. Retrieved 2020-11-16.
^"Online freight exchange now features free vehicle tracking".
A freightexchange or load board is an online service for haulage companies, logistics providers, freight forwarders, transport companies and (in some...
The Baltic Exchange (incorporated as The Baltic Exchange Limited) is a membership organisation for the maritime industry, and freight market information...
settled against various freight rate indices published by the Baltic Exchange (for Dry and most Wet contracts), Shanghai Shipping Exchange (International and...
for all companies involved in transport. Its flagship product is a freightexchange. TIMOCOM has representative offices in Poland, Czech Republic, Hungary...
business and since 2017 part of Alpega group, is a pan-European online freightexchange service that offers customized online services for the Transport and...
DAT Freight & Analytics, originally known as Dial-a-Truck, is a US-based freightexchange service ("load board") and provider of transportation information...
below their production costs for some European land routes via the freightexchange Timocom. The company rejected the allegations, pointing out that it...
The National Freight Corporation was a major British transport business between 1948 and 2000. It was listed on the London Stock Exchange and at one time...
average price of spot freight published by the Baltic Exchange. The Baltic Exchange, on a daily basis, publishes a number of freight assessments for various...
dedicated freight corridors in India are a network of electric broad gauge freight railway lines that solely serve freight trains, thus making the freight service...
these exchanges also trade financial derivatives, such as interest rate and foreign exchange futures, as well as other instruments such as ocean freight contracts...
The Baltic Dry Index (BDI) is a shipping freight-cost index issued daily by the London-based Baltic Exchange. The BDI is a composite of the Capesize,...
used by freight companies, manufacturers, distributors, retailers, customs brokers, government agencies, and other interested parties to exchange logistics...
Freight transport, also referred as freight forwarding, is the physical process of transporting commodities and merchandise goods and cargo. The term...
DX Freight (Previously known as Nightfreight GB) is a United Kingdom-based delivery and logistics company. The company is part of the DX Group, which...
The freight technology sector, also known as FreightTech, refers to software companies and technologies which assist in supply chain management and the...
TForce Freight, a subsidiary of TFI International, is an American less than truckload (LTL) freight carrier based in Richmond, Virginia. The company was...
most popular Minitel application was Teleroute, the online real-time freightexchange, which accounted for nearly 8% of Minitel usage. In December 1985 Minitel...
Old Dominion Freight Line, Inc. (ODFL) is an American regional, inter-regional and national less than truckload shipping (LTL) company. In addition to...
allowances, agricultural and freight products. The EEX emerged as a result of a merger between LPX Leipzig Power Exchange and the Frankfurt-based EEX in...
Index) is a daily freight container index issued by the Baltic Exchange and Freightos. The index measures global container freight rates by calculating...
Singapore Exchange Limited (SGX Group) is a Singapore-based exchange conglomerate, operating equity, fixed income, currency and commodity markets. It provides...
independent survey on the driver shortage was carried out by a UK freightexchange. The purpose of the survey was to get the drivers opinions about the...
Euren/Zewen industrial area is served from Monday to Friday at noon by a freightexchange train (Übergabegüterzug), which runs regularly from Ehrang via Trier-West...
The freight interline system is a system of relations between trucking companies, rail, and airline networks. Interline freight is cargo that moves between...
two far-away settlements, and reducing the need for passenger and freightexchange at Kangerlussuaq Airport, the Air Greenland hub. The cost of around...
loading on board ship. They are therefore not to be used for containerized freight, other combined transport methods, or for transport by road, air or rail...
Global Information