SUNRISE, Fla. — dexFreight, providers of a decentralized, blockchain-based logistics platform, has appointed blockchain academic and business leader Justin Banon as its chief operating officer.
Banon has been a key advisor for dexFreight and has taken a lead role in the architecture of the company’s existing triple token model, and has collaborated in structuring the company’s business plan and soon-to-be-released rewards program, according to Hector Hernandez, dexFreight co-founder.
“Justin Banon brings to dexFreight a wealth of global business leadership experience including high growth business models, digital strategy and platform design,” Hernandez said. “He understands the complexity of token economics, loyalty programs and go-to-market strategies in a way that few executives can hope to, we are thrilled to have him on our team.”
Previously leading a global platform business that grew from $50 million to $1 billion in revenue through business model innovation, Banon brings to dexFreight over 20 years of business leadership experience advising CEOs and boards of directors on how to scale disruptive ventures.
In addition to his professional track record, Banon holds a bachelor’s degree in physics and a masters in innovation with a focus on network-effects business models and digital transformation.
Currently, he is completing a second masters degree in blockchain with a focus on token-powered network effects business models.
“dexFreight is a fantastic business set to disrupt and transform the logistics industry with a decentralized platform,” Banon said. “I am excited at the opportunity to join the leadership team as we lead the business on its next stage of strategic development.”
dexFreight is a decentralized, blockchain-based logistics platform that allows shippers, carriers and other supply chain stakeholders to transact and collaborate more efficiently, transparently and securely.
For information, visit
Freight moved among U.S., Canada, Mexico down in April from March
WASHINGTON — Total freight transported between the United States, Mexico and Canada totaled $104.5 billion in April, according to the Department of Transportation’s Bureau of Transportation Statistics.
The figure represents an increase of 1.8% compared to April 2018, but a 2.5% decrease from March 2019 when $107.2 billion was moved among the countries.
The most used mode of transportation was trucking, which moved $65.1 billion of freight, down 1% compared to April 2018 and down 3.4% from the $67.4 billion moved in March 2019.
The second most used mode was rail, which moved $15.6 billion of freight, up 6.3% compared to April 2018, but down .04% from March 2019’s $16.2 billion of rail freight..
Trucks moved 62.3% of all transborder freight, broken down as follows:
- U.S.-Canada: $28.8 billion (55.5% of all northern border freight)
- U.S.-Mexico: $36.3 billion (68.9% of all southern border freight)
Trucks moved $67.4 billion in March 2019.
Compared to April 2018, U.S.-Canada freight was down 3.3%, U.S.-Mexico freight was up 1%.
The three busiest truck border ports (43.3% of total transborder truck freight) included Laredo, Texas ($15.3 billion), Detroit ($8.6 billion) and El Paso, Texas ($5.3 billion).
The top three truck commodities (48.9% of total transborder truck freight) included:
- Computers and parts, $13.6 billion
- Motor vehicles and parts, $9.9 billion
- Electrical machinery, $9.5 billion
Those three categories also were the top three categories in March 2019.
Dwight Bassett named president of Boyd Companies
CLAYTON, Ala. — Dwight Bassett has been named president of the Boyd Companies.
Prior to this role, Bassett served as the chief operations officer and chief financial officer for the Boyd Companies.
Bassett has an extensive background as a leader in the trucking industry.
Before joining the Boyd Companies, he served as the chief operations officer for Builder’s Transportation. In this role, he helped redesign the company’s information system which greatly improved productivity and accountability.
Prior to Builder’s, Bassett worked for M.S. Carriers for 16 years. During his tenure, he held various roles within the organization such as dispatcher, controller, vice president of operations, and chief accounting officer. Under his leadership, the company’s fleet grew tremendously from 300 trucks to 4,000 trucks.
“It is an honor to be named the president of the Boyd Companies,” Bassett said. “The people at Boyd make the difference. There is a mutual respect and admiration among all of us that is not easily replicated.”
Chris Cooper, CEO of the Boyd Companies, said, “Dwight’s leadership will be important to the Boyd Companies and the Daseke organization moving forward. Dwight has a unique, intuitive and tactical mind for transportation and logistics. This has been shown in his leadership over the past six years as CFO and COO of the Boyd Companies.”
The Boyd Companies include Boyd Bros. Transportation, WTI Transport, Mid Seven Transportation and Boyd Logistics.
The Boyd Companies is part of Daseke Inc., the largest flatbed and specialized transportation and logistics company in North America.
Boyd Bros. Transportation is the largest carrier in the Boyd Companies and is a flatbed truckload carrier that operates throughout the eastern two-thirds of the United States, hauling primarily steel products and building materials.
For more information about Boyd Companies or career opportunities at Boyd Bros. Transportation, visit or call 888-485-8717.
Trailer orders down in May; June seen as pivotal month
The two companies that collect, analyze and publish data pertaining to the commercial vehicle market reported what might be called a significant decline in trailer orders for May.
FTR reported preliminary orders for 11,700 units, the lowest total since May 2016.
ACT Research reported preliminary new U.S. trailer orders of 15,500, down 16% month-over-month, but after accounting for cancellations, said net orders slid to 10.5k units, down 28% from April.
FTR said orders for 2019 production have basically come to a halt, as most build slots for the year are already filled. Trailer builds were hefty for the third straight month and should remain elevated in the short-term.
However, production numbers in the second half will likely moderate due to expected slower economic and freight growth. The flatbed segment is already showing signs of weakening due to easing in manufacturing and industrial activity. Trailers orders for the past 12 months now total 356,000 units.
“Orders should rise in June as OEMs begin taking orders for 2020,” said Don Ake, FTR vice president of commercial vehicles. “June orders will be a good indication of how the larger fleets view the freight market for next year. Carriers may be cautious as long as the tariff situation is disrupting freight flows and creating significant business uncertainty.”
ACT Research said year-to-date, net orders are 40% below last year, according to this month’s issue of ACT Research’s State of the Industry: U.S. Trailer Report. Near-record backlogs have filled 2019 build slots for many OEMs, and there continues to be resistance toward booking orders into next year, resulting in the order volume contraction.
“We’re now running into very difficult year-over-year comparisons, as OEMs are generally unwilling to accept orders for 2020,” said Frank Maly, director–CV Transportation analysis and research. “We hear that some OEMs may open their 2020 orderboards in June; if so, expect better comparisons in the months ahead.
“However, given market pressures of strong capacity growth in the face of a slowing economy and tariff uncertainties, the anticipated order surge may not be as robust as many may assume.”