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Container imports bound for the U.S. have dropped over 36% since May 24. (This index measures departing container volumes at the port of origin). This is a troubling sign for domestic U.S. freight markets that have been benefiting from an unprecedented surge of containerized import volumes over the last 18 months.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 ... The company’s (NYSE: FDX) first fiscal quarter results, released late Wednesday, demonstrated the benefits of the cost cuts. FedEx’s adjusted diluted earnings per share of $4.55 came in well ahead of consensus of $3.73 -$3.77 a share. Operating income, net income and operating margins rose well above levels of the prior fiscal year’s ...WebPhoto: Jim Allen/FreightWaves. A federal judge has ordered a Mississippi trucking company and its owner, Xavier Bailey, to pay more than $482,000 after finding Bailey made false statements in order to obtain funds through the U.S. Small Business Administration’s Paycheck Protection Program (PPP).Web

Citizens Bank of Sac City, Iowa, has failed, and it appears that its exposure to commercial trucking is the cause. Citizens Bank was a small state-chartered bank. Its loan portfolio was focused on “commercial and industrial loans,” according to Bank Reg Blog. The blog reported on Nov. 3 that the Federal Deposit Insurance Corporation (FDIC ...Web2 min. Yellow’s senior vice president of sales informed her staff on Wednesday that their last day would be Friday and the less-than-truckload carrier will file bankruptcy on Monday, according to three employees who attended the video call. Yellow ( NASDAQ: YELL) is the third-largest LTL company and employs some 30,000 workers, including ...

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 ...

FreightWaves National Truckload Index (NTI) is a seven-day moving average of spot rates that measures the U.S. for-hire, over-the-road dry van trucking market: Representing 8.7 million loads. Published 365 days of the year. Over 1,200 days of historical data. Views aggregated weekly or moving 7 day averages.Cargo revenue at public passenger airlines and logistics companies, which serves as a proxy for financial conditions at Amerijet, was down 30% to 50% through the third quarter versus the nine-month period a year ago. Many cargo airlines have hit the brakes on adding new or converted freighters and reduced flight activity to manage costs.USA, TRISG.USA. The National Retail Federation says inventories are in balance with no apparent stockouts or overstocks as highlighted in Mark Solomon’s article. The SONAR chart above shows the seasonally adjusted retail inventory-to-sales ratio at 1.36 at the end of September (updated Nov. 15), up 2.3% y/y, which is roughly in line …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 ... FreightWaves. 71,550 likes · 1,550 talking about this · 65 were here. FreightWaves is the most trusted provider of global supply chain market intelligence.

Nov 13, 2023 · The freight market is suffering from very challenging conditions and few dispute that the freight market is in recession. The root cause of the current freight recession has been the imbalance of supply and demand. According to SONAR’s Outbound Tender Volume Index, or OTVI, freight volumes are currently up 16% over 2019 levels.

FreightWaves is the leader in non-biased, user-generated reviews and feedback to help carriers find the best technology partner for their fleet. Konexial is honored to be a FreightWaves Trusted Partner and to showcase the benefits of edge computing technology and our live supply chain™ ecosystem. Kristin Rakoczy, Marketing Director. As one of ...

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.1 min. Robotics firm Dexterity AI said Tuesday it has partnered with FedEx Corp. (NYSE: FDX) to have robots load FedEx Ground trailers by leveraging AI-powered technology. The first robotic truck was unveiled Tuesday at a joint event, called Unlock the Dock, held in San Francisco. FedEx is testing the technology with FedEx Ground trailers …3 min. Yellow appears to be halting pickups in some areas of the Northeast, as well as Ohio, California and Texas, according to account executives who spoke to FreightWaves anonymously and company communication shared with FreightWaves. Nationwide, Yellow said in a memo sent to employees and shared to FreightWaves on Tuesday it was “limiting ...Digital freight brokerage Surge Transportation filed for bankruptcy on July 24, as FreightWaves’ Hampstead first reported the following day. 2023 was a more severe downturn than expected. Surge booked $135 million in gross revenues during one period in 2023, according to its bankruptcy filing. That same period last year, Surge posted $200 ...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 ...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 …

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 ».Nov 29, 2023 · This week in Borderlands: Eternity Group Mexico unveils a tool for shippers to monitor their carbon footprints; Finkargo closes a $20 million Series A funding round; cargo-partner launches a cross-border shipping solution; and SKU Distribution receives foreign trade zone status for its Arizona warehouse. May 15, 2023 · 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. The combination drove transportation prices to a level of 27.9, 8.9 points worse sequentially and the fastest rate of contraction ever recorded. The index’s pricing measure was more than 37 points worse y/y and 63 points lower than two years ago. Further, respondents reported weaker trends in the last two weeks of the month, returning a ...Digital freight brokerage Surge Transportation filed for bankruptcy on July 24, as FreightWaves’ Hampstead first reported the following day. 2023 was a more severe downturn than expected. Surge booked $135 million in gross revenues during one period in 2023, according to its bankruptcy filing. That same period last year, Surge posted $200 ...

Freight factoring, also known as transportation factoring or trucking factoring, is a service option that can help trucking companies streamline their cash flow. One of the easiest ways to understand freight factoring is to understand the p...Important dates. July 10, 2023: Nominations open for FreightTech 202 4. Sept. 1, 2023: Nominations close for FreightTech 202 4. Sept. 18, 2023: FreightTech 100 announced on freightwaves.com. Nov. 9, 2023: FreightTech 25 announced at F3: Future of Freight Festival. Click here to nominate a company for the 2024 FreightTech award.Web

The ¥13.2 trillion extra budget is largely aimed at trying to ease the pain of the strongest inflation in decades. Almost 30% of firms surveyed by the Japan Trucking Association in 2022 said they ...Jul 18, 2023 · The Teamsters union has threatened to strike by Monday if this is not resolved and the pension contributions remain in default. The company owes $50 million, a large sum for a company in financial distress. Yellow currently has in excess of $100 million in cash reserves, according to an 8-K filed on July 7. If a strike comes to pass, this would ... The hike in railways fares and freight rates has sparked outrage. Political parties (mainly the Congress, but also BJP allies such as the Shiv Sena) are citing it as an example of an anti-people measure. The Modi government would be well se...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.See all of FreightWaves’s headline news. Compare how the top news stories are covered by left-wing and right-wing news sources. We’ve discovered 2,780 headlines written by FreightWaves during the past 3 months. Ground News rates FreightWaves’s media bias as unknown.Subscribe to our Classic Newsletters Newsletters that never seem to go out of style. Freightwaves Tech Newsletter (Tuesday | Weekly) Stay up to speed on the latest technology and trends impacting the freight industry with this weekly newsletter. Air Cargo Newsletter (Monday | Weekly) Get news, analysis and exclusive insights about the movement ... FreightWaves 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.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 ... The latest tweets from @FreightWaves

Citizens Bank of Sac City, Iowa, has failed, and it appears that its exposure to commercial trucking is the cause. Citizens Bank was a small state-chartered bank. Its loan portfolio was focused on “commercial and industrial loans,” according to Bank Reg Blog. The blog reported on Nov. 3 that the Federal Deposit Insurance Corporation (FDIC ...Web

Nov 16, 2022 · Get the Latest Freight Market News & Trends. Stay informed with timely updates on freight trends that could impact your business. Our freight market updates are brought to you by FreightWaves SONAR , our high-frequency freight market intelligence platform that provides near real-time trucking, railroad, ocean, and air freight transportation ...

Greg Miller. · Monday, October 30, 2023. Negative trends at West Coast ports are starting to reverse. (Photo: Jim Allen/FreightWaves) In the perennial tug-of-war between West Coast and East Coast ports, the momentum has shifted yet again. Imports from Asia are starting to head back to America’s Pacific gateways.WebNov 14, 2023 · Parcel delivery is a cost-effective, efficient, and fast option for businesses shipping items up to 150 pounds. And, unlike freight shipping, packages are delivered directly to a residential or business address. Check back here for the latest parcel freight industry news. Mark Solomon Wednesday, November 15, 2023. 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...The FreightWaves executive team has over 75 years of freight experience, founded or helped build 10 start-ups, raised over $1 billion in private capital and completed over $5 billion of M&A. The team’s experience spans every area of the supply chain, helping the company create unique solutions for the freight community. ... Fuller is the ...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. Maersk, the world’s second-largest ocean carrier, revealed Friday that it is “intensifying” job cuts in light of the “worsening market conditions” in ocean shipping. “Given the challenging times ahead, we accelerated several cost and cash containment measures,” said Vincent Clerc, CEO of A.P. Moller-Maersk (Copenhagen ...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 ...Canada’s dockworkers strike impacts freight rail operations. As the labor strike continues at the ports of Vancouver and Prince Rupert, Class I railroads are taking steps to ensure that their networks face minimal disruptions. Read More ». Noi Mahoney Wednesday, July 5, 2023.Nov 14, 2023 · Parcel delivery is a cost-effective, efficient, and fast option for businesses shipping items up to 150 pounds. And, unlike freight shipping, packages are delivered directly to a residential or business address. Check back here for the latest parcel freight industry news. Mark Solomon Wednesday, November 15, 2023. Today, the same lane goes for $1,402/TEU. In May 2022, container imports handled at the U.S. port peaked at 2.6 million TEUs, the most recent month of imports data before FreightWaves’ article was published. Descartes reported that container import volumes in November were 1.95 million TEUs, a drop of 25%.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.

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.FRA issued two safety advisories in 2014 and 2020, and in the years 2018, 2021 and 2022, just one safety advisory was issued. In 2017 and 2019, no safety advisories were issued. Transport Canada has been requiring Canadian Pacific Kansas City and CN since 2022 to submit plans about how they expect to conduct rail operations in winter.Dec 16, 2022 · For all intents and purposes, the month of December has only three weeks of freight activity, as the final week from Christmas to New Year’s is effectively null. In years prior, freight demand has fallen throughout the month before bottoming out in that final week. So far, December looks to be following seasonal trends, which is to say that, while shippers’ activity is winding down, this ... Instagram:https://instagram. bioc stocktwitswalmart stock calculatoratrfxdental insurance georgia Stay up to date on the latest news from FreightWaves, your award-winning source for transportation news. Read stories about XPO's earnings, Hawaiian Airlines' … dollar1000 dollar bill for salefrge ticker 6 min. FreightWaves unveiled the winners of its 2024 FreightTech 25 awards on the final day of the F3: Future of Freight Festival. This sixth iteration of the award series was full of surprises. The 2024 list honors industry veterans and newcomers that have found a way to hang on in one of the most difficult environments for technology ... is blue cross blue shield good dental insurance Digital freight brokerage Surge Transportation filed for bankruptcy on July 24, as FreightWaves’ Hampstead first reported the following day. 2023 was a more severe downturn than expected. Surge booked $135 million in gross revenues during one period in 2023, according to its bankruptcy filing. That same period last year, Surge posted $200 ...Xeneta tracks both contract rates and spot rates. Its short-term index put North Europe-U.S. East Coast rates at $6,086 per FEU as of Wednesday. Long-term rates for this trade were under $6,000 per FEU as of mid-January. Spot rates have fallen below contract rates in almost all of the world’s container trades — but not yet in the trans ...Web