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Meanwhile, spot rates in America’s $800 billion trucking industry have collapsed in 2022. According to the FreightWaves National Truckload Index, spot rates have declined by nearly 33% from the beginning of this year to the beginning of October. Meanwhile, the costs to run a trucking company, particularly fuel spending, have only …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 …3 min. The two ways shippers could purchase trucking capacity were through contracts or the spot market. Until now. FreightWaves has introduced index-linked contracts as a third option for trucking capacity. Currently, 30 shippers — large consumer-brand companies — are in various stages of implementing this new product.A rash of trucking bankruptcies are on the way and it will be Bloodbath 2.0. Trucking has enjoyed the largest number of new entrants in its history over the past two years. New fleet registrations were up to 20,166 last month alone. This is unprecedented. The last peak was in August 2019; there were 9,511 new trucking fleets and that was in the ...

Digital freight brokerage Surge Transportation filed for bankruptcy on July 24, as FreightWaves’ Hampstead first reported the following day. 2023 was a more severe …In last week’s Passport intermodal weekly, we discussed the very visible impact that the snowstorm in the central states was... Read more. 1 2 … 9. Stay up-to-date on your #1 source for the latest transport, freight and logistics news from FreightWaves.FreightWaves: The number one source for transportation and logistics news FreightWaves 23.8K subscribers Subscribe 5 4.3K views 3 years ago #logistics …

Consulting firm FTR Transportation Intelligence expects rail intermodal to face a tough year in 2023 amid weaker demand, a competitive truck market and a shift in U.S. port activity away from the West Coast to East and Gulf ports that utilize shorter inland hauls. All of the rail intermodal segments — domestic and international — “are ...

4 min. The fiscal fourth-quarter earnings of major trucking lender BMO, the former Bank of Montreal, appear to show a sudden and significant weakening of trucking credit metrics. BMO’s transportation bank of business — its gross loans and acceptances — rose to approximately CA$15.7 billion ($11.6 billion) in the quarter, its highest on ...Craig Fuller is CEO and Founder of FreightWaves, the only freight-focused organization that delivers a complete and comprehensive view of the freight and logistics market. FreightWaves’ news, content, market data, insights, analytics, innovative engagement and risk management tools are unprecedented and unmatched in the industry.WebDiversification will be key in 2024. With 2024 expected by many to see a swing in pricing power back in carriers’ favor, Carrillo emphasized the need for shippers …Truckload spot rates, according to the FreightWaves National Truckload Index, hit a low of $1.67 on Nov. 17, 2022, and have since bounced back to $1.98 per mile. FreightWaves SONAR: National Truckload Index. To learn more about SONAR, click here. Trucking tender volumes also suggest that the direst of predictions have not played out.

The biggest food brands have cooled it on price inflation.That’s good news for consumers — and trucking companies. Two freight brokers told FreightWaves that truckers have had to reorganize their routes to grocers in the past year due to reduced volumes, though they haven’t experienced the fallout of business that other firms have …

This week in Borderlands: A stronger Mexican peso could pose challenges for U.S.-Mexico trucking; Tesla seeks $100 million to build Semi truck charging stations; OmniTRAX taps a former Amazon exec to lead its Texas railroad; and cargo truck processing returns to a Texas border crossing.Noi Mahoney. · Monday, September 25, 2023. There were 582 cargo thefts in Canada and the U.S. during the second quarter, according to CargoNet. (Photo: Jim Allen/FreightWaves) Listen to this article. 6 min. Truckload carriers across the U.S. saw a sharp rise in cargo thefts during the second quarter — with thieves targeting everything from ...Here are some of the small trucking companies that went bankrupt this year: Freon Logistics, 10 drivers. Navarro Trucking Group, 15 drivers. JCB Trucking Enterprises, 16 drivers. McClellan Trucking and Duran Transfer, 21 drivers. Elite Transportation, 25 drivers. Rooney Trucking, 37 drivers.Trucking companies rejected unusually high amounts of freight in 2021. Around 27% of all contract freight was getting rejected last spring. Even in late December 2021 and early January 2022, the rejection rate was more than 20%. The spike in spot rates meant more capacity on the small trucker side.3 min. The two ways shippers could purchase trucking capacity were through contracts or the spot market. Until now. FreightWaves has introduced index-linked contracts as a third option for trucking capacity. Currently, 30 shippers — large consumer-brand companies — are in various stages of implementing this new product.

Mexico exported 157,522 heavy-duty trucks to the U.S. in 2022, an 18% year-over-year increase. Read More » Brandon Cafferky Friday, October 7, 2022 Daily Infographic: Mexico truck makers break export record in August ... Download the FreightWaves app for unlimited access to news and insights (Android & iOS Available) …Here are some of the small trucking companies that went bankrupt this year: Freon Logistics, 10 drivers. Navarro Trucking Group, 15 drivers. JCB Trucking Enterprises, 16 drivers. McClellan Trucking and Duran Transfer, 21 drivers. Elite Transportation, 25 drivers. Rooney Trucking, 37 drivers.Ex-Celadon executives Eric Meek and Bobby Lee Peavler had been indicted on nine counts of fraud for an alleged accounting scheme. (Photo: Jim Allen/FreightWaves) The Securities and Exchange Commission has agreed to settle an accounting fraud case against two former Celadon Group Inc. executives accused of engaging in a scheme to hide millions ...FreightWaves provides award-winning trucking news coverage. Subscribe to your leading source of news for free!Jul 21, 2023 · 2 min. The U.S. District Court for the District of Kansas ruled Friday against less-than-truckload carrier Yellow Corp.’s request for an injunction, which would have kept its Teamsters employees from engaging in a work stoppage. In her decision, Senior Judge Julie Robinson denied a motion for a temporary restraining order and injunction. 5 min. Truckload carriers and 3PLs have seen little change in demand halfway through the fourth quarter, and some are pointing deeper into 2024 before the market corrects. The comments came from heads of some of the largest publicly traded TL providers at Stephens 25th Annual Investment Conference in Nashville, Tennessee, on …

Less-than-truckload carrier Yellow Corp. closes after 99 years in business. (Photo: Jim Allen/FreightWaves) 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 ...WebOct 15, 2023 · In the 2008 freight recession, freight brokerages were a much smaller percentage of the overall trucking market, representing just 10% of the total freight in the market. This number has doubled since then, along with the quality of freight. When I was working the freight desk at U.S. Xpress in the early 2000s, freight brokerages weren’t a ...

However, industry misconceptions continue to discourage generations of women from participating, making recruiting and retaining women a concern for fleet operators. On Wednesday during FreightWaves’ Enterprise Fleet Summit, Jennifer Hedrick, the president and CEO of the Women In Trucking Association, shed light on these …Clarissa has covered all aspects of the trucking industry for 14 years. She is an award-winning journalist known for her investigative and business reporting. Before joining FreightWaves, she wrote for Land Line Magazine and Trucks.com. If you have a news tip or story idea, send her an email to [email protected].Dec 9, 2022 · A federal district court in California won’t hold a hearing for a new preliminary injunction blocking independent contractor law AB5 until May. That means that any hope the state’s trucking sector had that a new preliminary injunction stopping AB5 from enforcement in the state might be handed down by a federal judge is dashed for five more ... The freight cycle. The freight cycle is a market cycle that describes the boom to bust cycle of the trucking freight market. A typical freight cycle lasts for three to four years and is more cyclical than a broader economic cycle. In the early part of the cycle, the freight market is balanced.7 min. On July 7, Yellow ( NASDAQ: YELL) narrowly avoided bankruptcy for the fifth time since 2009. The potential for collapse is still looming, though. That’s scaring some customers off, according to three brokers and two industry experts interviewed by FreightWaves. Recent notes from investment banks like Bank of America and Stifel have ...The global shipping industry is constantly evolving, and the COVID-19 pandemic began a marked shift in how container shipping operates. Disruption caused by the pandemic has forced the industry to expand its capacity and reduce costs to remain profitable. At the peak of the pandemic, containers essentially stopped moving.WebTrucking company to pay $7.7 million in case of wheel coming loose, striking vehicle. Digital freight platform Convoy announces 2nd round of layoffs since June. FreightWaves Mid Continent Trucking Trucking. Family-owned Mid Continent Trucking of Denison, Iowa, notified drivers and employees recently that after 24 years, the refrigerated carrier ...The 2031 standards under Option 1 would lower truck emissions by 90% compared to current norms, and EPA estimates that NOx emissions from the total fleet of heavy-duty trucks on the road in 2045 would decrease by as much as 60%. Option 2 would achieve less overall NOx emissions reductions than Option 1, according to EPA.WebFreightWaves again named one of fastest-growing companies in North America. Chattanooga, Tennessee-based FreightWaves has been named to Deloitte’s Technology Fast 500 list. Read More ». Noi Mahoney Tuesday, November 7, 2023.

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.

Trucks generally aren’t the cheapest vehicles on the market. In fact, you’ll often find yourself looking at a price tag of at least $30,000 for a new or lightly used truck with the latest features.

Nov 19, 2023 · The Bureau of Transportation Statistics reports that freight between the U.S. and Mexico totaled $69.0B in March 2022, up 21% from March 2021. Stay up to date on key developments related to U.S.-Mexico cross-border trucking, freight, and supply chain news here, or visit our cross-border trucking archive to find additional news, information and ... Louie, the California truck driver, said that from 2008 to today, his terminal (previously Roadway) has seen eight terminal managers. It was the same person from 1999 to 2008. An Oregon-based truck driver connected to FreightWaves through Yellow PR said around 60 drivers worked at his terminal as of 2019. Now, it’s around 30.Used truck prices reversed year-over-year gains in November for the first time since 2020, suggesting a normalized environment is returning after a year of unprecedented high prices. “Following the once-in-a-lifetime pricing boom in 2021, the used-truck market in 2022 started coming back down to Earth as the freight environment …STG Logistics’ acquisition of Best Dedicated Solutions will add expedited, dry van, temperature-controlled and flatbed OTR transportation to STG’s existing services. ... Read the latest logistics news and insights from FreightWaves covering multi-modal transportation. Award winning news coverage at your fingertips.Sep 9, 2023 · 4 min. Nikola Corp. is asking dealers and customers to return battery-electric trucks under recall for possible battery fires to its Coolidge, Arizona plant despite the company still working on a fix. “We’re bringing them back to Coolidge for repairs to be made instead of in the field,” spokesman Dan Passe told FreightWaves in an email ... FreightTech experts weren’t completely surprised by the news, with most detailing concerns for the initially drayage-focused freight marketplace from its inception. “I first learned about NEXT Trucking when Lidia [Yan, co-founder and former CEO] was on stage during a FreightWaves event in 2019.Freight Industry News & Trends. The Future of Freight is a collaboration between FreightWaves and Convoy to highlight the businesses and individuals who are leading this change. ... USPS is interested in drone operators, Rivian wants people to subscribe to its trucks, and Virgin Atlantic pushes for more air cargo marketshare in …Michigan trucking fraudster sentenced to 17 years for $40M Ponzi scheme. Franklin Ray was sentenced to 212 months in federal prison for his role in multiple fraud schemes, including bilking investors out of $40 million in a truck investment venture. Read More ». FreightWaves Staff Wednesday, November 29, 2023.FY 2012-2023. Average per-mile spot rates for trucking fleets have hit $1.54, down 11.6% from 2022 and 34.4% from 2021, according to the FreightWaves National Truckload Index. At the same time, the costs of fuel, replacement parts, insurance and other key inputs have soared.The latest FreightWaves SONAR release gives users the ability to customize outputs based on rate per mile versus flat rates and to quickly retrieve 90-day moving averages for contract rates. ... Slowdown in grocery inflation may be good news for trucking companies Food brands are cooling it on price hikes. That means trucking companies …At the end of 2020, only 12.5% of drivers who had tested positive had been cleared to drive again. In 2021 that number increased to 22.7%, and it increased again in 2022 to 27.6%. Garney also noted that starting on Jan. 6 — after three full years of clearinghouse operation — motor carriers were no longer required to query a driver’s ...

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 ...However, industry misconceptions continue to discourage generations of women from participating, making recruiting and retaining women a concern for fleet operators. On Wednesday during FreightWaves’ Enterprise Fleet Summit, Jennifer Hedrick, the president and CEO of the Women In Trucking Association, shed light on these …FreightWaves Daily; FreightWaves Best Of; AS Daily; AS Week In Review; Modern Shipper; Supply Chains. The Stockout (CPG & Retail) Running on Ice (Cold Chain) Must Reads. What The Truck; MODES Newsletter; Net-Zero Carbon; Truck Tech; Check Call (3PL News/Analysis) Loaded & Rolling (Enterprise Fleet News/Analysis) Trending Now. Ocean Cargo ...3 min. The two ways shippers could purchase trucking capacity were through contracts or the spot market. Until now. FreightWaves has introduced index-linked contracts as a third option for trucking capacity. Currently, 30 shippers — large consumer-brand companies — are in various stages of implementing this new product.Instagram:https://instagram. register investment advisorshould i buy shiba inuwhere to buy penny stockshistory of tesla stock Aug 21, 2023 · Craig Fuller, CEO at FreightWaves Thursday, August 10, 2023. Truck drivers, construction workers and other manual workers are getting a huge pay raise. Get used to it. UPS’ CEO announced that drivers will be making $170,000 a year in pay and benefits by the end of a five-year employment contract. A third-quarter survey of shippers showed the freight industry has moved “deeper into limbo” as excess inventories have largely been purged but there is still no need to immediately restock. Shippers registered a slightly lower overall view of the economy this quarter, returning a 4.9 reading on the 20-year-old Morgan Stanley ( NYSE: MS ... us oil refineriesbest australian forex brokers 7 min. On July 7, Yellow ( NASDAQ: YELL) narrowly avoided bankruptcy for the fifth time since 2009. The potential for collapse is still looming, though. That’s scaring some customers off, according to three brokers and two industry experts interviewed by FreightWaves. Recent notes from investment banks like Bank of America and Stifel have ...WebTruckload volumes match 2018 levels, a good year for trucking. ... FreightWaves’ news, content, market data, insights, analytics, innovative engagement and risk management tools are unprecedented and unmatched in the industry. Prior to founding FreightWaves, Fuller was the founder and CEO of TransCard, a fleet payment …Web calculate dividend per share 7 min. On July 7, Yellow ( NASDAQ: YELL) narrowly avoided bankruptcy for the fifth time since 2009. The potential for collapse is still looming, though. That’s scaring some customers off, according to three brokers and two industry experts interviewed by FreightWaves. Recent notes from investment banks like Bank of America and Stifel have ...Based in Chattanooga TN, Thomas is an Enterprise Trucking Carrier Expert at FreightWaves with a focus on news commentary, analysis and trucking insights. Before that, he worked at a digital trucking startup aifleet, Arrive Logistics as an Account Executive, and 5 years at U.S. Xpress Enterprises Inc. with an emphasis on fleet …