LoadExpress Launches Freight Auction Marketplace
The web-based platform enables owner-operators and small- and medium-size fleets to deal directly with shippers rather than rely on freight brokers.
Carriers bid on loads posted by shippers through a direct auction model similar to eBay. That approach allows carriers and shippers to settle pricing between themselves. After the transaction, the carrier and shipper rate each other.
LoadExpress also enables both parties to track the shipment and transaction. All documents are verified and stored on the platform, which also offers speedy payment on completed deliveries, the company said.
“We’re using proven web-based technology to wring out billions of dollars of operational and price inefficiencies from the truck freight industry,” said Ken Liu, vice president of business development at LoadExpress.
The platform is free to use for carriers. Shippers pay a transaction fee for each completed shipment.
LoadExpress also is accessible through a companion mobile app for Android and Apple devices.