Load board

Definition

An online market where brokers post freight and carriers book it.

Why It Matters

How much of a carrier's freight comes off a load board is a direct read on the quality of its revenue. Board freight is spot freight: priced by the day, won on availability, and gone the moment a cheaper truck appears. Contract freight from direct shippers is slower to win and far harder for a buyer to lose. A carrier whose loads mostly come off boards has a business you can replicate with a truck and a subscription, and a valuation should say so; one with named shippers and standing lanes has something a buyer is actually paying for.

In numbers: A carrier taking 40% of its loads off a board is exposed to the spot market, where a lane at $2.10 a mile can sit at $1.60 for a quarter without anybody doing anything wrong.