A freight exchange is an online service for freight haulers/haulage companies, Logistics providers and freight forwarders. It allows transport companies/haulers to search advertisements for freight, and freight forwarders/logistics providers to offer freight to be transported.
These systems provide a platform that allows carriers to communicate freight traffic information to fellow operators such as transporters, forwarders and logistics companies. They allow forwarders to advertise their freight either privately or publicly to a large number of freight operators that are looking for loads. They also allow freight operators to offer vehicle space. Online systems are normally subscription-based with a small charge for advertising (posting) and searching (consulting).
The world's first electronic freight exchange was called Teleroute and was launched in France on the Minitel system in 1985. Before the internet, users were supplied with a terminal to advertise or search for freight.
Now, there are many examples around the world offering many services to haulers and freight forwarders, such as TimoCom Timocom and Freightex. Freightex differs from other freight exchnages, in that it is the only full service freight exchange, rather than a simple message board advertising loads and vehicle capacity.
The classic freight exchange was a favorite tool in the centralized economies. For example there was a ban to drive with an empty truck in the socialistic Czechoslovakia. Transport companies had to use the national system showing information about available loads.
For example, a trucker has an order to transport tulips from Keukenhof in the Netherlands to Como, Italy. Ideally, a freight order for the return trip would increase profitability, so the trucker would search for return freight or backload on a freight exchange. A vehicle returning home empty following a long-haul trip is not great for the environment either. By picking up a return load, you are helping to reduce the number of other vehicles needed on the road. This leads to a reduction in carbon emissions.