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Get a near real-time, 360-degree view of your fleet’s daily operations, so you can help reduce costs, increase productivity, stay on top of vehicle maintenance, and make the most of every business day.UP ( NYSE: UNP) expects to open in the first quarter of 2024 a new international intermodal terminal in Phoenix, which the railway says will provide a rail option for those seeking a connection between the ports in the Los Angeles Basin and the U.S. Southwest. Although the terminal, which will be owned and operated by UP, will be …According to the U.S. Department of Transportation Federal Railroad Administration, the U.S. rail freight network covers almost 140,000 route miles and is generally considered the largest, safest, and most cost-efficient freight system in the world. In addition, says the FRA, the almost $80 billion rail freight industry creates more than ...Trucking Regulation. Trucking regulations are determined by several government agencies in the United States. The Federal Motor Carrier Safety Administration (FMCSA) is the lead agency responsible for trucking laws, regulating and providing safety oversight of commercial motor vehicles (including over 500,000 commercial trucking companies.

Less than Truckload (LTL) Stay Up to Date on the LTL Industry. Less than truckload (LTL) refers to shipping services for relatively small loads of freight (typically between 150 and 15,000 pounds). One of the main benefits of the LTL industry is cost efficiency. LTL trucking allows shippers to combine several loads going to the same facility ...Editor’s note: This story has been updated to reflect the number of layoffs confirmed by the company. Truck brokerage giant C.H. Robinson Worldwide Inc. laid off approximately 650 employees this week, the company confirmed Thursday. Sources close to the situation originally estimated the number would be closer to 1,000, possibly up to …

F3: Future of Freight Festival | Nov. 7-9, 2023. Join us in Chattanooga, TN for a festival like no other!Nov 5, 2023 · The air freight forwarding industry is responsible for making sure shipments from one country to another are fully completed. They handle everything from storage and inventory management, to customs clearance, international export, import documentation, and more. Because of their expertise in international shipping, air freight forwarders also ...

Demand keeps capacity tight – FreightWaves NOW. On today’s FreightWaves Now, Zach Strickland examines demand keeping capacity tight in the …Nov 16, 2023 · Less than Truckload (LTL) Stay Up to Date on the LTL Industry. Less than truckload (LTL) refers to shipping services for relatively small loads of freight (typically between 150 and 15,000 pounds). One of the main benefits of the LTL industry is cost efficiency. LTL trucking allows shippers to combine several loads going to the same facility ... Nov 30, 2023 · Loaded and Rolling: Trucking turnover and retention debate rages on. FreightWaves’ Rachel Premack wrote an article on Wednesday outlining her experience attending a truck driver training conference in Corpus Christi, Texas, by the National Association of Publicly-Funded Truck Driving Schools (NAPFTDS). Premack sought to get more information ... Sep 13, 2023 · Chart: ( SONAR: NTIL.USA ). The National Truckload Index (linehaul only – NTIL) is based on an average of booked spot dry van loads from 250,000 lanes. The NTIL is a seven-day moving average of linehaul spot rates excluding fuel. Spot rates are still 15% lower year over year. Bruffett is seeing capacity exit as well. The Company is shutting down its regular operations on July 28, 2023, closing and/or laying off employees at all of its locations, including yours (the ‘Shut Down’).”. The company on Friday morning laid off an unknown number of office employees, most of which were nonunion. It said in a memo to the laid-off employees that it was unable to ...

Oct 18, 2023 · Although the market was filled with rumors of bankruptcy at Convoy Wednesday morning — not surprising when all loads are summarily canceled — there has been no bankruptcy filing by Convoy, according to a check of public records by FreightWaves. In April 2022, Convoy was valued at $3.8 billion after an investment of $260 million in a Series ...

ArcBest’s ( NASDAQ: ARCB) shares jumped 16% on its third-quarter report . Yellow’s trailers parked along a fence at a shuttered Houston terminal. (Photo: Jim Allen/FreightWaves) The company’s asset-based segment, which includes LTL carrier ABF Freight, saw shipments decline 2.7% from the second quarter.

Investors are still awaiting news of Yellow's fate. (Photo: Jim Allen/FreightWaves) A class-action suit filed Tuesday against Yellow Corp. said the company failed to provide a required 60 days’ layoff notice to its 30,000 employees. The complaint was filed on behalf of California dockworker and union steward Armando …WebUPS Inc. (NYSE: UPS) said late Thursday that it will raise 2024 tariff rates 5.9% on all air, ground and international services, effective Dec. 26.The move matches rival FedEx Corp. (NYSE: FDX), which announced a 5.9% increase late last month.Both carriers have thus reduced their tariff rate increases by 1 full percentage point from 2023’s record …WebAug 30, 2023 · Trucking companies have different operating costs, but none of them can survive long on low rates. Throughout this year, truckload spot rates have hovered between $1.50 and as high as $2.10 a mile. Meanwhile, the average breakeven cost per mile for truckload ranges from $1.56 to $1.90 per mile, according to a recent J.P. Morgan study. A captain who works 40 years at FedEx can expect to make slightly more than $20 million in pay, benefits and retirement over his or her career compared to the industry average of about $18.8 million, according to analysis by aviation analyst Kit Darby. But the total compensation now lags Alaska Airlines, Hawaiian Airlines, Delta Air LInes ...As part of the waiver agreement, the lenders will require Yellow (NASDAQ: YELL) to provide its lenders with regular reports on the state of its finances. Beginning Wednesday, Yellow will be required to provide the lenders with a weekly “liquidity report.”. In that report will be the total amount of liquidity at Yellow, including ...The National Motor Freight Classification, also known as the freight class number, of a commodity is typically assigned by a shipping company.

Pennsylvania brokerage lays off nearly 65 employees, sources say. Approximately 65 employees for Pittsburgh-based Elite Transit Solutions were laid off via Microsoft Teams on Friday. This is the second round of job cuts the freight brokerage has experienced over the past month; about 20 employees were let go on Oct. 20 because of the “current ...The company’s annual GRI is effective on the first Monday of February. Forward’s fourth-quarter guidance was also worse than expected. The company forecast revenue to decline 7% to 17% y/y, implying $423 million at the midpoint of the range. That was below the consensus estimate of $468 million at the time of the print.May 11, 2023 · Truckload carrier’s operating loss deepened in Q1 to nearly $30M. John Kingston. · Thursday, May 11, 2023. U.S. Xpress has laid off about 125 workers. (Photo: Jim Allen/FreightWaves) Listen to this article. 6 min. U.S. Xpress, on the verge of being acquired by Knight-Swift, recently laid off about 150 employees as its earnings report filed ... Strong fundamentals in the less-than-truckload market, marked by considerably higher yields, combined with a companywide restructuring drove a net profit at Yellow Corp. during the third quarter. Yellow ( NASDAQ: YELL) reported earnings per share of 16 cents compared to a net loss of 4 cents per share a year ago.If you are expecting a package from FedEx, it is important to be able to track its progress and know exactly when it will arrive. With the convenience of online tracking, you can easily keep tabs on your shipment from the comfort of your ow...Cross-border truckload freight rates could stabilize in 2023. After several years of volatility, freight rates in Mexico for transporting goods north to the U.S. should remain steady for most of the year, trade experts said. Before the pandemic, carriers usually charged about $1,000 and up for northbound freight from central Mexico to Laredo ...Sep 5, 2023 · 5 min. The seemingly perpetual marketwide truck driver shortage is not real, nor is it marketwide. While specific fleets can and do have driver shortages — i.e., unseated trucks — the trucking market quickly corrects. There also are periods of capacity shortages, but those get addressed very quickly by the market.

15 min. The biggest bankruptcy in U.S. trucking history could occur in the coming days when the nation’s third-largest less-than-truckload carrier, Yellow Corp., files. The company ceased all operations at noon on Sunday, and leadership representing its Teamsters workforce said it had been notified of a pending bankruptcy filing.Roughly 20% of the infrastructure jobs created under Biden’s proposal would be in Midwestern states, with 22% going to states in the Southeast, including such states as Arkansas, Mississippi and West Virginia, “which have some of the lowest median household incomes in the nation,” the report points out. (Trucking employment has yet to ...

The Q3 2023 Freight Sentiment Indexes show the freight market in this flux. For the first time since we began tracking in Q4 2022, shippers are the least positive group (though their overall score is still above 0), and this shift in sentiment could be a first indication of a market change. Shippers have enjoyed pricing power this year due to ...It is the second time this year that Flexport has laid off 20% of its workforce. The new cuts represent about 600 employees in a company with approximately 3,200 people. Petersen has characterized his return as CEO as one of righting a ship taking on red ink because of excess spending. He is focusing on driving growth in the core forwarding ...May 18, 2022 · 7 min. The conventional wisdom at this time is that most of the world has moved on from the pandemic (except for China); therefore, supply chains will return to “normal.”. Unfortunately, this is not the case. The world has permanently changed and supply chains are going to face continuing challenges for decades to come. Among those ... Carriers ‘swiping right’ on tenders faster than any point in the past 20 months. OTRI continues to fall, finally dropping beneath 16% and rapidly approaching 15%. Major shockwaves will soon be felt by carriers, particularly by those that are new to the industry. Rejection rates fall nearer to 15%.If you are expecting a package from FedEx, it is important to be able to track its progress and know exactly when it will arrive. With the convenience of online tracking, you can easily keep tabs on your shipment from the comfort of your ow...Jul 19, 2023 · In Ying Ye v. GlobalTranz Enterprises Inc., a shipper tendered a load to GlobalTranz Enterprises, a freight broker, requesting that it arrange for the transportation of the load from Illinois to Texas. GlobalTranz retained an unrelated motor carrier, Global Sunrise, to perform the actual transportation. While transporting the load, Sunrise was ... The Journal reported that the bankruptcy filing would come this week. All these reports sent shares of Yellow plunging 40% in early trading Thursday. Asked about reports of an imminent bankruptcy ...WebPhoto: Jim Allen/FreightWaves. An Illinois-based trucking company has filed for Chapter 11 bankruptcy protection, citing a jury award of $10 million in December after a 2019 fatal truck crash involving one of …WebCombining data streams to combat illicit trade in container shipping. Officials from Nexxiot and Deloitte talk with FreightWaves in this Q&A about how combining data on container movements and a container’s financial streams can help ward off illicit trade. Read More ». Greg Miller Tuesday, October 17, 2023.

5 min. Union leaders representing Federal Express pilots said late Friday they will seek authority from members to call a strike when legally permissible. But no imminent work action can happen because the federally controlled negotiating process still has a long way to go. The Air Line Pilots Association said voting for strike authorization ...

Loaded and Rolling: Trucking turnover and retention debate rages on. FreightWaves’ Rachel Premack wrote an article on Wednesday outlining her experience attending a truck driver training conference in Corpus Christi, Texas, by the National Association of Publicly-Funded Truck Driving Schools (NAPFTDS). Premack sought to get more information ...

Indiana-based Elmer Buchta Trucking and its entities recently filed for Chapter 11 bankruptcy. Photo: Jim Allen/FreightWaves. An 85-year-old Indiana-based trucking and logistics company and its affiliates recently filed for Chapter 11 bankruptcy protection less than nine months after it was acquired by private-equity firm Transport …WebAre you interested in the logistics industry? Do you have a knack for organization and problem-solving? If so, becoming a freight forwarder might be the perfect career path for you.Freight boom is not without downsides for carriers. One of the results of the 2017-18 freight market boom was an increase in the cost of operating that held over into a slower 2019 when capacity became abundant. Costs are on the rise once again as carriers struggle to find drivers to capture market share. Read More ».Trucking companies have different operating costs, but none of them can survive long on low rates. Throughout this year, truckload spot rates have hovered between $1.50 and as high as $2.10 a mile. Meanwhile, the average breakeven cost per mile for truckload ranges from $1.56 to $1.90 per mile, according to a recent J.P. Morgan study.Intentional growth strategies. XPO is continuing to expand its physical footprint to meet customer demand. The company has added more than 500 net new doors to its service centers nationwide since the end of 2021, with the intention of adding a total of 900 net new doors by early 2024. Additionally, it has added 2,000 new tractors and 8,000 …Sep 3, 2023 · The chart is measuring the market in weeks; green is expansion, red is contraction. As capacity continues to correct, the freight rate cycle will begin to move at a faster pace (perhaps later this year; more likely late in the first quarter of 2024). Rates will move higher. Generally speaking, this helps carriers and is detrimental to shippers. Many carriers are already taking as much as they can, as Yellow’s freight bills per day have fallen by more than 30% in recent weeks, according to a source close to the carrier. When Celadon shut down in December 2019, the truckload industry readily absorbed the volume, but truckload networks are inherently more flexible than less-than …Oct 13, 2023 · Push to reshore US manufacturing motivated by global supply chain issues. Rosemary Coates, executive director of the Reshoring Institute, offers insights into supply chain issues during a keynote address Thursday at the FreightWaves F3: Future of Freight Festival. Read More ». Noi Mahoney Wednesday, November 2, 2022. 7 min. The conventional wisdom at this time is that most of the world has moved on from the pandemic (except for China); therefore, supply chains will return to “normal.”. Unfortunately, this is not the case. The world has permanently changed and supply chains are going to face continuing challenges for decades to come. Among those ...

Strong fundamentals in the less-than-truckload market, marked by considerably higher yields, combined with a companywide restructuring drove a net profit at Yellow Corp. during the third quarter. Yellow ( NASDAQ: YELL) reported earnings per share of 16 cents compared to a net loss of 4 cents per share a year ago.7 min. In 2022, U.S. business logistics costs, or what is spent to keep the nation’s logistics network humming, grew by an astounding 19.6% to a record $2.3 trillion, representing 9.1% of national gross domestic product, according to the 34th annual State of Logistics Report. On a percentage basis, financial cost of inventory led the way with ...FreightWaves. 71,550 likes · 1,550 talking about this · 65 were here. FreightWaves is the most trusted provider of global supply chain market intelligence.Instagram:https://instagram. diamond stock pricevanguard lifestrategy moderate growthfed funds rate futuresinvesco comstock fund class a 5 min. Yellow Corp. expects to reduce the number of terminals in its network from 316 to 300 by year-end as the less-than-truckload carrier looks to further cut costs, company executives told analysts. Speaking after Yellow reported first quarter financial results Tuesday, chief operating officer Darrel Harris said the terminal reduction would ... Minnesota-based Commodity Services Inc. specializes in ag products like potash and sand. Ex-officer manager Vickie Greiner and her son, Brandon Greiner, both of Fairmont, Minnesota, have been charged with stealing over $600,000 from the freight brokerage where they both worked. (Photos: Bill Oxford/Unsplash and Jim …Web nvda stocktwistmt4 demo account The FreightWaves Trusted Rate Assessment Consortium (TRAC) spot rate from Los Angeles to Dallas, arguably one of the densest freight lanes in the country, has seen a slowdown in its prior momentum. Over the past week, the TRAC rate fell 1 cent per mile to $2.08 — still some distance from its year-to-date high of $2.39. index funds charles schwab FreightWaves. 71,550 likes · 1,550 talking about this · 65 were here. FreightWaves is the most trusted provider of global supply chain market intelligence.The worst trucking market prior to the current one was in 2019, the “Trucking Bloodbath.”. At one point, FreightWaves reported on 10 trucking bankruptcies in a single week. New England Motor Freight’s (NEMF’s) bankruptcy opened the year (3,000 employees) and Celadon’s shuttering (5,500 employees) ended it. There were hundreds in between.6 min. Following three attacks on vessels linked to Israel, a container ship operated by Israeli ocean carrier Zim has changed course and is taking the long way around Africa rather than transiting the Suez Canal and passing through the Bab el-Mandeb Strait off Yemen. Ship position data from MarineTraffic shows that the Zim Europe, en route ...