Ryder launched a new drop-and-hook trailer service to its freight brokerage business.
Customers can now rent one or more trailers to load and then schedule pickup as needed or keep the trailers for additional storage.
"By blending the expertise of our freight brokerage team with the trailer capacity available on COOP and our network of 45,000 qualified carriers, we have created a new solution to solve our customers' needs," says Dave Belter, vice president and general manager of transportation management at Ryder.
COOP by Ryder is a vehicle-sharing platform that connects businesses who have idle trucks, tractors and trailers with companies that need to rent commercial vehicles. The service launched in 2018.
"Shippers gain flexibility and efficiency, and carriers improve productivity by eliminating time wasted waiting for live loads. And, in this case, vehicle owners listing with COOP have the opportunity to earn even more revenue," says Romain Rousseau, vice president of COOP. "With COOP scaling rapidly and Ryder's continued growth, it's exciting to look across the broader business, find synergies, and develop innovative solutions that answer our customers' needs."
APL Cargo Inc. joined COOP by Ryder in April to rent out idle trailers. It's earned more than $728,000, Ryder says, and an additional $57,000 with drop-and-hook trailer service.
"The vehicle sharing platform has enabled us to increase asset utilization and generate a significant amount of revenue in just a few months," says Grigore Canali, CEO of APL. "Having the ability to offer affordable access to tractors and trailers on demand and in a variety of locations across the U.S. has been a game changer."