Thanks to COVID, there are no seasonal highs and lows for international shipping. There is so much demand for goods that the peak season never seems to end — and ports, railroads, truckers and warehouses are reaching the breaking point.
An open letter from activist investor Ancora Advisors says “ineffective capital allocation” and diversification into “margin- and return-dilutive service offerings” have led to inferior results for Forward Air compared to other less-than-truckload carriers.
Third-party logistics provider Radiant Logistics beat expectations for its second fiscal quarter. The company’s improved results and low-debt profile are allowing it to pursue acquisitions.
North American automotive and import opportunities could boost business for Universal Logistics during 2021, CEO Tim Phillips said during the Q4 earnings call.
Retailers will want to pull forward inventory ahead of the 2021 peak season, the intermodal marketing company said. Fourth-quarter 2020 revenue grew by 6% although net profit slipped by 20% year-over-year.
Universal Logistics’ operating revenues from truckload services in the fourth quarter decreased $8.7 million to $49.8 million.
U.S. rail volumes rose 5.3% in January as gains for intermodal, chemicals and grain were enough to offset losses for coal and petroleum products, according to AAR data.
Schneider National plans to use its strong cash generation capabilities to reinvest in the fleet during 2021. The carrier will also look to allocate growth capital to its dedicated and intermodal offerings.
Schneider National posted fourth-quarter results ahead of analysts’ forecasts on Wednesday. The company’s 2021 outlook is largely in-line with the current consensus estimate.
Higher consumer spending, inventory restocking and rising import levels contributed to a 9.6% gain in North American intermodal volumes in the fourth quarter of 2020, according to the Intermodal Association of North America.
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“Demand in the intermodal and trucking sectors is at an all-time high, which makes this an ideal time to optimize FYX’s many assets and take it to the next level,” says new CEO Kenneth Forster.
Anticipated consumer spending levels, retail restocking and tight truck capacity are among the factors that could support intermodal volumes this year, according to Class I rail execs.
Knight-Swift Transportation reports a big jump in results during the fourth quarter. However, while some may view this as a victory lap, investors appear to be calling the end to the TL trade.
Knight-Swift Transportation capitalizes on strong truckload fundamentals to post much higher year-over-year results. Fourth-quarter numbers came in slightly ahead of expectations and the company’s full-year 2021 guidance remains unchanged.
Two FreightWaves SONAR charts illustrate Union Pacific’s views of the West Coast intermodal spot market.
The Georgia Ports Authority is adding capacity in anticipation of another busy year.
J.B. Hunt Transport Services’ fourth quarter came in better than expected. However, the company said it was reviewing long-term margin targets across all segments. Intermodal margin forecasts may be reduced but other units could see upward revisions.
J.B. Hunt Transport Services’ fourth quarter outpaces analysts’ forecasts. Brokerage, truck and final-mile divisions benefit from revenue surge.
CIEM’s Pioneer Chassis is gearing up to play a key role in squelching port bottlenecks and filling the chassis shortage gap.
“The way we responded to the challenges, kept commerce moving and preserved jobs is a story that we will all remember for a long time to come,” says Port of Los Angeles Executive Director Gene Seroka during his State of the Port address.
A Prologis and MIT study said the holiday peak season in 2020 was the most environmentally friendly yet. E-commerce dominated 2020 consumer buying trends, drastically reducing the number of individual trips to the store.
The opening of the Hugh K. Leatherman Terminal and deepening of Charleston Harbor are expected to make for an even brighter 2021.
Dachser promotes Burkhard Eling to CEO; GlobalTranz hires Bryan Foe as SVP; the Containerization & Intermodal Institute appoints Randy Bayles to its board; and Illinois Railroad Association taps Michelle Kelm as executive director.
Robert Primus gets confirmed as the newest member of the Surface Transportation Board while the Intermodal Association of North America names Barbara Melvin as its new board member.
Emerge founder Andrew Leto and content marketing expert and best-selling author Joe Pulizzi will keynote FreightWaves’ upcoming virtual Sales & Marketing Summit.
While the pace of growth in the supply chain cooled during December, transportation and warehouse capacity remains tight and prices are high.
The Port of New York and New Jersey is committed to fluid operations during cargo surges.
Ocean carrier Maersk says it is “working closely with the Agriculture Transportation Coalition and local trucking associations to address their concerns of equipment availability and detention and demurrage issues.”
Drayage provider ContainerPort Group announces intermodal terminal operator FSI Inc. will start operating under the CPG banner at the beginning of the year.
CN has partnered with other organizations to develop a plastics resins export facility in Alabama near the Port of Mobile. The facility will open in late 2021.
J.B. Hunt issues intermodal service advisory as railroads BNSF Railway and Norfolk Southern implement gate restrictions in Los Angeles and Chicago.
The European Commission has released its Sustainable and Smart Mobility Strategy. Massive investments and infrastructure are needed to meet the EU Commission’s sustainability milestones.
“This is one of the most difficult seasons we’ve been facing trying to move our cargo out of the United States,” says a California almond producer.
Hub Group’s acquisition ambitions land in the final-mile sector in a $94.5 million deal for non-asset provider NonstopDelivery.
Redwood Logistics’ #HeroChallenge and Women in Logistics webinar raised funds to celebrate GivingTuesday.
On Dec. 1, KCS announced that the blockades had officially come to an end. The Mexican economy has taken a hit due to the pandemic and the protests only added to the hurt.
How long will Brad Jacobs stay on after split and spinoff of logistics business?
The railway has started reaching out to First Nations groups and the broader public to share its plan.
Regardless of a transport or logistics manager’s objectives, the digital age name of the game is to estimate the dollar savings provided by an application like this.
A November supply chain survey shows the rates at which transportation capacity is shrinking and pricing is climbing are increasing.
A few images convey a great deal about the intermodal rail model.
J.B. Hunt Transport Services announces several changes to the executive roster on Tuesday, including the appointment of John Kuhlow as the company’s permanent chief financial officer.
Quick action comes on heels of a call for action by key trade group; Commissioner Maffei says it may not be enough
The Cass Freight Index returns positive trends for shipments in October. The expectation is strong volumes will continue with the outlook for higher expenditures on the horizon.
Which of the big seven railroad companies has a volume growth strategic plan to sync with J.B. Hunt?
Given the tight market, Hunt customers can expect to hear from company soon on need for rate increases to cover higher costs
Former Bethlehem Steel plant site at Sparrows Point, Maryland, attracts shippers and 3PLs to build Northeast distribution centers.
Earlier Harbor Trucking Association complaints about fees in Los Angeles/Long Beach now extended to New York/New Jersey; FMC commissioner says some action likely
No specifics in shipping company’s statement on request for relief from demurrage and detention charges
FreightWaves Classics will present articles about key events, companies,, organizations, etc. from the history of transportation, logistics, supply chain and freight.
Management from Schneider National expects tightness in the trucking markets to continue. Inventory restocking will keep truck demand elevated and new capacity is entering the market at a slower pace than in previous cycles.
Weekly intermodal traffic is still higher year-over-year although on a sequential basis, volumes appear to be leveling off for trailers.
Management from J.B. Hunt sees the current inventory replenishment cycle sustaining a high freight demand environment through the first quarter of 2021.
Partners called on to help ensure the supply chain remains fluid.
South Carolina Ports Authority gears up for growth with delivery of ship-to-shore cranes.
With intermodal volumes growing in the third quarter and October, how will the railroads handle intermodal traffic in the fourth quarter?
Shipwell CEO Greg Price explains during FreightTech Venture Summit the importance of winning over venture capitalists at the onset of presenting your idea.
A half-dozen basic tips on what drayage truck drivers must consider when picking up a container chassis from a pool.
The bond credit ratings firm updates its outlook for the freight rail industry from negative to stable amid rising rail volumes.
Envase Technologies platform will expand its presence in Canada with the acquisition of TMS provider Tailwind Transportation Software.
Hub Group sees a strong demand environment continuing as most of its customers are operating with lean inventories. The company expects tight freight fundamentals to create a favorable rate environment in 2021.
‘Significant accomplishments’ in 2020 will be followed by game changers next year.
The strength in truckload fundamentals didn’t really show in Schneider National’s third-quarter report. Lower revenue per truck, intermodal rail congestion and brokerage malaise overshadowed the announcement of a $2 special dividend.
Chassis manufacturer anticipates chassis shortage as COVID-19 subsides as well as desire among pool operators to replace aging units.
A half-dozen basic physical characteristics of ocean containers should be considered before shippers or their packers stuff them.
David Fisher’s 30 years of industry experience is expected to advance the university’s graduate program for transportation, logistics and supply chain executives.
Crowley has the Jones Act-compliant marine transportation assets to accommodate the start of the burgeoning U.S. offshore wind industry.
German forwarder says acquisition will expand its global business in handling nonhazardous bulk liquids such as alcoholic beverages and edible oils.
State officials were among the guests cheering for the ports’ fiscal-year successes.
Knight-Swift Transportation’s third-quarter report provides an earnings beat, a 2020 guidance raise and a better-than-consensus first take at 2021 earnings as the carrier sees “strong freight conditions” continuing.
The carrier sought relief from commission regulations earlier this month as part of its efforts to recover from a crippling cyberattack in late September.
The ocean container industry association files an agreement with the U.S. Federal Maritime Commission to ensure its collective activities do not violate the Shipping Act.
The Agriculture Transportation Coalition, together with TradeLanes, surveys hundreds of American shippers about the cost to their bottom lines of uncommunicated earliest return dates from ocean carriers.
Former Port Authority of New York and New Jersey executive takes over at IICL from Steven Blust, who will continue in a senior adviser role.
The Cass Freight Index booked 7% sequential gains in shipments and expenditures during September.
Shares of J.B. Hunt Transport Services move 9% lower after the company fails to meet recently raised analyst expectations. Intermodal service headwinds and elevated costs were the culprits.
J.B. Hunt Transport Services misses 3Q estimates by 9 cents per share. Revenue and operating income climb 5% but a variety of cost inflation and a tough truck brokerage market weigh on the quarter.
“Port partners are taking proactive steps to add more resources and service hours to support this untraditional peak cargo volume season.”
The U.S. Federal Maritime Commission will consider a change in its regulations that would allow filing of service contracts up to 30 days from the agreement’s effective date.
The U.S. Federal Maritime Commission will consider the French liner carrier’s relief petition to give it time to clean up its systems.
Container chassis management model in the U.S. challenges advancement of full-circle tracking technologies.
The U.S. Federal Maritime Commission wants to learn the extent of allegations that ocean carriers are targeting noncontracted service providers for freight payment.
U.S. Federal Maritime Commission steps forward with notice of inquiry to evaluate alleged ocean carrier abuse of “merchant” definition for bill of lading responsibility.
Drayage truckers on the Envase platform have access to an online marketplace that connects them to available parking and storage lots nationwide.
The Intermodal Motor Carriers Conference insists the U.S. Federal Maritime Commission has jurisdiction to ensure that ocean container chassis provisioning is conducted fairly.
Forward Air announces another acquisition as it advances its no-wait growth plan. The Greeneville, Tennessee-based trucking company adds intermodal drayage provider Value Logistics to its roster.
SAL Heavy Lift Group sees Intermarine expanding its ability to serve project cargo shippers throughout North and South America.
The inability of ocean carriers to timely inform shippers of schedule changes results in costly logistics disruptions and potential for lost international sales.
Tim Robertson succeeds Bill Meahl, who will continue to serve in an advisory role until his retirement next September.
For DHL Global Forwarding, the coronavirus pandemic is no excuse for the ocean freight industry to neglect sustainability initiatives in the supply chain.
It is too early to call the intermodal recovery a long-term win for the railroads.
Insight Partners’ investment will allow PayCargo to build new online freight payment services and tools for shippers, 3PLs and transportation providers.
Radiant Logistics achieves a couple of records during the recent quarter. Moving PPE and other aid paves the way to a large earnings beat.
The Ocean Carrier Equipment Management Association says the Federal Maritime Commission’s jurisdiction does not apply to a domestic transport dispute with container-hauling truckers.
Bias-ply tires persist within the nation’s container chassis fleet, but equipment providers vow that their days are numbered with the ongoing switch to radial tires.
Teddy brings high winds and flooding to highways as it makes landfall in Nova Scotia, Canada, as a post-tropical storm east of the Port of Halifax.
Cass data for the month of August shows significant acceleration in demand and rates but the comparisons to 2019 still lag other data sources.
Newly released case study says gateway’s work could become model for other Canadian ports
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