Ryder System is expanding its U.S. freight brokerage business. It has opened a new office in Nashville, Tennessee, and will add two additional locations in 2023.
The expansion is in response to growing demand for the service. “In freight brokerage, we experienced just over 175 percent growth in gross revenue in 2021 as compared to 2020,” Kevin Clonch, group director of transportation management at Ryder.
Clonch pointed to market fluctuations, sky-high transportation rates, a capacity crunch, and the driver shortage, as factors pushing shippers to use the brokerage service.
Ryder now has freight brokerage offices in Novi, Michigan, and Fort Worth, Texas, as well as the new Nashville location, which opened in April. The company chose Nashville for its third location based on the city’s talent pool as a logistics hub and its ability to draw additional talent as a destination city.
Ryder’s freight brokerage division is part of its transportation management solution, which purchases and/or executes $7.4 billion in freight moves on behalf of its customers annually.