 Third Acquisition Expands HTL Freight Offerings Into Less-than-Truckload Shipment Charlotte, NC & Lake Zurich, IL, SEPTEMBER 7, 2022 – In keeping with its vision to be a leading 3PL and freight solutions company, Charlotte-based third-party logistics brokerage, HTL Freight, has acquired Lake Zurich-based 3PL, ATTS Logistics. This transaction follows HTL’s acquisition of drayage and transload specialist Matchmaker Logistics in November 2021.
This acquisition expands HTL Freight offerings into less-than-truckload (LTL) shipments, a $40-billion-plus market annually. Founded in 1999 by Greg & Sharon Hatz in the greater Chicago area, ATTS has a proven track record and a robust service offering including partial, LTL and air. Mr. and Mrs. Hatz along with the entire ATTS team will become part of the HTL Freight family. The acquisition expands HTL Freight’s footprint across North America, allowing the company to offer additional freight solutions to shippers, while its strong network of carriers will benefit from increased asset utilization due to the expanded types of loads accepted. “This acquisition increases our capabilities, our service offerings, and gives us a presence in the robust Chicago freight market,” said HTL Freight CEO Onu Okebie. “Strategically, this positions HTL as a true one-stop shop and allows us the opportunity to fulfil our customers’ LTL needs.” “This move to be a part of the growing and dynamic team at HTL Freight creates the opportunity to do more for our customers and our employees,” jointly stated by Greg & Sharon Hatz. “We are excited to see what the future holds under the HTL Freight umbrella.” HTL Freight’s state-of-the-art technology platform matched by its people’s deep shipping industry experience remains the company’s success factor. “We are impressed by the business that Greg and Sharon have built, and the high quality of client relationships the ATTS team have nurtured. We plan to introduce workflow efficiencies and reporting through our state-of-the-art technology platform, which will strengthen those relationships even more,” says HTL Freight CFO Brian Boland. About HTL Freight: Founded in 1983, HTL Freight, formerly known as Heritage Trucking, provides a differentiated logistics experience for shippers and carriers by providing a technology-driven and customer-centric service that is responsive, responsible, and reliable. With service and technology being the pillars of our success, our purpose is to simplify transportation by providing transparency and visibility across the supply chain. HTL Freight’s customers range from small shippers to Fortune 100 manufacturers. For more information, please visit htlfreight.com. Contact: Onu Okebie, CEO Email: onu@htlfreight.com Brian Boland, CFO Email: brian@htlfreight.com  Even with the holiday season coming to a close, the national Outbound Tender Rejection Index (OTRI) lingers at around 22%. The OTRI measures rejection rates from carriers, i.e. the percentage of requests for truckload capacity from shippers that are rejected. OTRI is assessed based on contract or long-term rate agreements.
Carriers have increased contract rates, which often equates to higher carrier compliance and quality of service. However, current truckload capacity cannot keep up with persistent shipper demand. To secure capacity, shippers are often offering 20-30% above their contract value, but this does not equate to carrier reliability as carriers are still rejecting contracted loads as of January 6th. For more information, check out the full article on Freight Waves here.  Shipping rates from China to the U.S. neared all-time highs this week – the shipping cost for a 40-foot container from Shanghai to LA is close to $10,000—representing a 229% increase from one year ago. Globally, a composite index of 8 major trade routes saw a 333% increase from one year ago. Rates are expected to increase.
These higher rates, while beneficial for container shipping lines, are putting pressure on importers in terms of higher costs. Higher costs uneasily absorbed by importers will likely be reflected in higher retail prices, which could result in inflation. Additionally, supply chain constraints due to COVID still hinder economic growth. Interested in learning more? Read the full article on American Journal of Transportation here.  Heading into the weekend last Friday, FedEx Freight sent a service termination notice to nearly 1,400 LTL customers, to take place on the following Monday. FedEx’s haste decision-making left shippers with no time to make alternative shipping plans. FedEx states the reasoning for this notice relates to congested shipping areas with tight capacity and excessive volumes—citing maintenance of service levels as their main concern.
Shippers were left going into the weekend last Friday with a headache looming – with no one to pick up their shipments and little time to make alternative arrangements, their supply chains continue to be affected. FedEx could have implemented increased price hikes or given a week’s notice before cutting services to these 1,400 customers. ATTS Logistics takes pride in our excellent customer service and transparent communication. ATTS will handle all the details of your LTL or truckload shipments. Contact us for any of your shipping needs. For more information on FedEx's termination of service to 1,400 customers, check out FreightWaves article here.  The current coronavirus pandemic is pushing consumers to stockpile supplies, thus increasing the urgency and frequency of shipments for restocking supplies. Due to the surge in retailers and e-commerce distributors' needs to restock, van and reefer spot rates are sharply increasing. Truck wait times at pickup and delivery are getting longer.
Let ATTS Logistics handle your next shipment. Call us today at (847) 726-9580 for a quote or to schedule a shipment. |
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