Uber Freight Introduces Exchange For Spot Rates

Uber Freight Introduces Exchange For Spot Rates

Uber Freight launched a spot freight exchange designed to expedite decision-making for carriers. This new exchange aggregates rates from hundreds of shippers and offers features such as bidding, upfront pricing, automated tendering, and personalized search and recommendations.

"Our carrier and shipper customers wanted us to make booking spot loads simpler and more efficient, and that's exactly what Uber Freight Exchange: Spot delivers," said Raj Subbiah, head of product at Uber Freight, in a news release.

The real-time market aims to establish itself within an environment that Uber Freight identifies as inefficient due to lengthy searches and fragmented communication. "Historically, carriers relied on scattered online and offline channels to locate and secure freight," the company noted.

Uber Freight has rolled out additional time-saving technologies, including digital tools for broker scheduling, AI-driven software, and TMS integrations.

This new functionality builds upon Uber Freight's contract exchange, initially introduced in 2023 and utilized by over 900 carriers. 

The Uber Freight Exchange Spot tool is complimentary for carriers and included as part of the annual subscription for Uber Freight Transportation Management customers.