vHub, a collaborative trailer repositioning and sharing marketplace, recently made its service available for US transportation operations.
Designed for private fleets, for-hire carriers, trailer rental companies and OEMs, vHub cuts down trailer repositioning costs and turns unused trailers into revenue generating equipment by making them available to short term renters in a secure, trusted, digital community, the company said.
“vHub is redefining how the transportation industry operates by creating a community that generates revenue while reducing deadhead mileage and repositioning costs,” said Francis Roy, vice president of vHub. “Like online marketplaces for arranging or offering lodging, we are using digital technologies to create a trailer sharing community that brings value to all stakeholders on the platform.”
Trucking companies can operate as much as 25% annually with completely empty trailers. Combined with an industry average of roughly 3:1 trailer-to-tractor ratio, that leaves a significant amount of trailer capacity unused and available. vHub, launched in Canada in April 2019, is designed to take advantage of that open trailer capacity. In the metropolitan Montreal market, a growing community already registered more than 5,000 trailers and booked more than 20,000 rental days of trailer usage on the vHub digital marketplace, vHub said
Matches are sortable by location, routes and destinations, and the number of rental days a trailer is needed or available. The collaborative trailer repositioning and sharing platform showcases all trailers that are available for one-way and round-trip rentals. Users can offer or rent dry van, refrigerated, flatbed or specialty trailers in less than five minutes.
Each trailer operator sets their own rates and manages details on trailer availability. vHub handles invoicing and payments, and transfers rental funds to the trailer owners. vHub also can integrate with telematics solutions in order to calculate distances traveled and automate billing. The confidentiality of all information and transactions on the platform is protected using the SSL encryption protocol, the company maintained.
Drivers can use the vHub marketplace to document trailer condition, including taking photos of any trailer damage prior to departure, and to record pick-up and drop-off locations and times. The application also can function without an internet connection, storing data for later retrieval.
“We created vHub by combining our multi-decade expertise in the financing of new and used heavy vehicle equipment with the technological advances in collaborative marketplaces,” said Sebastien Blouin, CEO of vHub. “With over 100 Canadian trailer owners successfully registerd on vHub, we are excited to now bring to the US an immediate solution for the repositioning and use of under-utilized trailers.
“The acceptance of community marketplaces is on the rise because users are understanding the true value of collaboration. vHub is a perfect example of a collaborative strategy that is a win-win for all parties.”