Ryder Expands Freight Brokerage Business to Build on 175% Year-Over-Year Growth

With a newly opened business office in Nashville, Tennessee, Ryder rolls out ideas to broaden its freight brokerage operations in vital U.S. logistics hubs

MIAMI, June 16, 2022–(Business WIRE)–Ryder Method, Inc. (NYSE: R), a leader in provide chain, committed transportation, and fleet management remedies, announces the expansion of its freight brokerage company with a new business in Nashville, Tennessee—a burgeoning U.S. logistics hub—followed by two further places planned to open up in 2023. The enlargement is portion of the company’s approach to develop its broader transportation solution, which offers clients versatility with numerous degrees of services and potential, from freight brokerage to transportation management and dedicated transportation.

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Ryder announces options to develop its freight brokerage enterprise as element of its method to increase its broader transportation remedy. (Photograph: Business Wire)

“In freight brokerage, we knowledgeable just about 175% development in gross income in 2021 as when compared to 2020. With sector fluctuations, sky-large transportation prices, a capability crunch, and a driver shortage, shippers are turning to our logistics experience, our asset-primarily based options, associations with vetted carriers, and our buying power to retain their products moving,” claims Kevin Clonch, team director of transportation management at Ryder. “By growing our freight brokerage operations, we also bolster our broader transportation option, so we can provide our clients even more adaptability with additional lanes and really hard-to-find potential in tight marketplaces, so they can take edge of seasonal and market-connected volume surges.”

Ryder now has freight brokerage workplaces in Novi, Michigan and Fort Well worth, Texas, as effectively as the new Nashville place, which opened in April. The enterprise chose Nashville for its 3rd spot primarily based on the city’s talent pool as a logistics hub and its skill to draw additional talent as a vacation spot town.

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“We want the most effective in the business—people who are industry experts in utilizing know-how to generate tactic and produce additional worth for prospects while also quarterbacking the lifecycle of each load to ensure a easy knowledge for both of those client and carrier,” adds Clonch. “We concentration on provider, provider, services. Mainly because, even with the ideal technological know-how and the finest laid designs, there will be periods when prospects and carriers require to select up the phone—and we remedy 24/7/365.”

In addition to investing in men and women, Ryder’s freight brokerage business enterprise invests seriously in systems that provide genuine-time visibility and collaboration electronic freight matching and backhaul options automatic load reserving business intelligence and analytics equipment that enable much better future decision making as perfectly as producing the payment cycle faster and a lot easier for carriers.

Ryder’s freight brokerage division is aspect of its transportation management resolution, which purchases and/or executes $7.4 billion in freight moves on behalf of its buyers each year.

“We do not turn again loads or make excuses. We obtain smarter answers. Which is our guarantee to our consumers, and the enlargement of our freight brokerage business is aspect of that assure,” suggests Clonch.

About Ryder Procedure, Inc.

Ryder Method, Inc. (NYSE: R) is a leading logistics and transportation corporation. It offers offer chain, focused transportation, and fleet administration methods, which include whole company leasing, rental, and upkeep, made use of car or truck gross sales, qualified motorists, transportation solutions, freight brokerage, warehousing and distribution, e-commerce achievement, and final mile supply solutions, to some of the world’s most-identified brand names. Ryder provides products and services during the United States, Mexico, Canada, and the United Kingdom. In addition, Ryder manages practically 239,000 industrial automobiles and operates much more than 330 warehouses, encompassing more than 80 million sq. ft. Ryder is often acknowledged for its field-leading procedures in 3rd-social gathering logistics, know-how-driven improvements, industrial motor vehicle routine maintenance, environmentally friendly solutions, company social responsibility, world-course basic safety and security plans, navy veteran recruitment initiatives, and the choosing of a assorted workforce. www.ryder.com

Notice About Ahead-On the lookout Statements: Specific statements and info involved in this news launch are “forward-searching statements” inside the meaning of the Federal Non-public Securities Litigation Reform Act of 1995. These forward-on the lookout statements, including our anticipations with regard to growing our transportation solutions business enterprise and the abilities of the know-how utilised in our freight brokerage company, are based mostly on our present-day plans and expectations and are subject matter to dangers, uncertainties and assumptions. Appropriately, these forward-wanting statements need to be evaluated with consideration offered to the many threats and uncertainties that could induce genuine final results and events to differ materially from people in the ahead-hunting statements including those challenges set forth in our periodic filings with the Securities and Exchange Fee. New threats emerge from time to time. It is not doable for administration to forecast all these kinds of threat factors or to assess the impact of such hazards on our company. Accordingly, we undertake no obligation to publicly update or revise any forward-wanting statements, regardless of whether as a outcome of new details, future functions, or otherwise.

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Contacts

Anne Hendricks
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Amy Federman
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