Trailer manufacturer Wabash and third-party logistics startup FreightVana have partnered to expand FreightVana X, the trailers-as-a-service platform. Freightvana X is a powered-only brokerage model where shippers can pre-load FreightVana’s trailers for drivers to arrange for a quick pick-up with their tractor.
“We’re excited to see the growth in power-only models that use trailers in new and interesting ways to solve for persistent driver shortages, detention times at shippers’ docks, and an overall lack of network fluidity,” said Brent Yeagy, Wabash president and CEO. “The transportation and logistics markets are changing, and Wabash intends to remain at the forefront of this change as a thought leader and technology partner. We’ve built a strong collaborative relationship with the team at FreightVana over the last year, and we believe, together, we can solve some of the transportation industry’s most meaningful challenges.”
FreightVana’s trailer pools enable small trucking companies, who would otherwise be incapable of supporting many large shippers’ trailer requirements, an opportunity to build networks of consistent freight, typically dominated by only the largest for-hire carriers in the country. Trailer access allows these carriers to minimize dwell time at shipping locations and save on capital investment. Shippers, in turn, can put in place sizable, uniform trailer pools at their desired locations, unlocking the long-tail of carrier capacity nationwide, introducing more competition and optionality into their overall supply chains.
Wabash supports FreightVana with trailer availability through their maintenance and repair network. The FreightVana X fleet is on track to have over 1,000 trailers deployed by the end of 2022, with plans to grow to over 3,000 units by the end of 2023.
“Trailers are a strategic linchpin to unlocking the efficiencies and capacity that shippers and small carriers covet. While nearly all traditional non-asset participants select to save their capital for other purposes, we have planted our flag in support of asset investment, clearly seeing its merits long-term,” said Shannon Breen, FreightVana co-CEO and founder. “Through this unique partnership with Wabash, we are better able to merge our 3PL vision for radical alignment and transparency with the prowess of America’s leader in commercial transportation manufacturing.”