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John Kingston

John has an almost 40-year career covering commodities, most of the time at S&P Global Platts. He created the Dated Brent benchmark, now the world’s most important crude oil marker. He was Director of Oil, Director of News, the editor in chief of Platts Oilgram News and the “talking head” for Platts on numerous media outlets, including CNBC, Fox Business and Canada’s BNN. He covered metals before joining Platts and then spent a year running Platts’ metals business as well. He was awarded the International Association of Energy Economics Award for Excellence in Written Journalism in 2015. In 2010, he won two Corporate Achievement Awards from McGraw-Hill, an extremely rare accomplishment, one for steering coverage of the BP Deepwater Horizon disaster and the other for the launch of a public affairs television show, Platts Energy Week.
May - 2024 -
07 May
John Kingston

As Norfolk Southern battle nears climax,
STB head Oberman backs management

Late in the game, the head of the Surface Transportation Board is speaking out against replacing Norfolk Southern management, suggesting the effort threatens the U.S. rail network.

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06 May
John Kingston

Diesel benchmark down again as signs point to loosening of inventories 

The benchmark diesel price used for most fuel surcharges was down Monday for the fourth week in a row.

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03 May
John Kingston

Truck transportation jobs break 6-month string of gains with slight loss

Truck transportation jobs posted a small decline in April after six straight months of relatively minor gains.

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02 May
John Kingston

RXO, still suffering from weak market, touts Q1 volume growth

RXO looked to various metrics to push a message that things are getting better at the 3PL.

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01 May
John Kingston

C.H. Robinson stock blasts higher after strong first-quarter numbers

With sequential numbers at C.H. Robinson showing solid improvement, the company’s heavily shorted stock soared in late trading.

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Apr - 2024 -
30 April
John Kingston

Proxy adviser on Norfolk Southern: Overhaul board but keep CEO Shaw

A second proxy adviser is backing big changes on the Norfolk Southern board, but this one is calling for CEO Alan Shaw to stay.

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29 April
John Kingston

With oil market stabilizing, diesel benchmark down for third straight week

The benchmark diesel price used as the basis for most fuel surcharges declined for the third week in a row.

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John Kingston

Activists looking to oust Norfolk Southern management get key support

An “influential” proxy advisory company has come out in favor of Ancora’s efforts to oust the leadership of Norfolk Southern.

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John Kingston

Supreme Court: Drivers hauling baked goods are in transportation, not baking

A recent U.S. Supreme Court decision helps define the legal status of  transportation workers at companies that are not primarily involved in transportation.

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27 April
John Kingston

Deal averts strike at Daimler North America as UAW celebrates pact

A possible strike by Daimler North America workers was averted at the last minute late Friday with a four-year deal.

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26 April
John Kingston

TFI’s US LTL operations need heavier shipments, CEO says of Q1 results

TFI CEO Alain Bedard thinks the company’s U.S. LTL operations are booking too much light freight.

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25 April
John Kingston

Pam sets Dutch auction to buy back shares; battered stock price soars

Truckload carrier Pam is running a Dutch auction to buy back its shares, which soared on the news.

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24 April
John Kingston

Covenant’s operating numbers mostly hold up in challenging first quarter

In a quarter of tough earnings report, Covenant Logistics performed relatively well.

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John Kingston

Loadsmart spotlights small fleets’ technology needs and opportunities

A key sales executive at LoadSmart discusses the company’s TMS capabilities and where it fits today with the needs of smaller fleets.

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John Kingston

No surprises in Norfolk Southern earnings as COO Orr makes debut

New Norfolk Southern COO John Orr made his debut on the railroad’s earnings call, but there was little talk about an ongoing proxy fight.

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23 April
John Kingston

Ryder’s Q1 reflects weak trucking market, but performance boosts stock

Investors cheered Ryder’s earnings, which weren’t immune to the weakness in the trucking market.

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22 April
John Kingston

Benchmark diesel price below $4 again as war-led rally fizzles

The benchmark diesel price used for most fuel surcharges is below $4 a gallon once again.

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John Kingston

Sentencing of attorney in Louisiana truck accident scam delayed again

The one attorney who has pleaded guilty in the Louisiana staged truck accident scam has seen his sentencing delayed again.

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19 April
John Kingston

Tough trucking market hits EBITDA at TriumphPay; other indicators up

Triumph Financial CEO Aaron Graft talked future opportunities as growth engine TriumphPay flipped to negative EBITDA in the first quarter.

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18 April
John Kingston

Bad news at Marten: Profits miss expectations, truckload OR plummets

Marten is the latest trucking company to report earnings that reflect the weak trucking market.

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John Kingston

State of Freight: How long will trucking market trough linger?

The April State of Freight webinar tried to make sense of a trucking market that has now been in the doldrums for two years.

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John Kingston

5 auto haulers combining to create publicly traded trucking company

Five auto haulers are combining to launch an initial public offering on the Nasdaq.

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16 April
John Kingston

Scopelitis seminar delves into lease purchase deals, M&A, ESG and more

Here are a few key takeaways from the Scopelitis Transportation Law seminar on the myriad of legal issues facing today’s trucking fleets.

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John Kingston

Scopelitis co-director: False hours-of-service log reports rise despite ELDs

Federal rules on personal conveyance are a big reason for continued hours-of-service violations, according to P. Sean Garney of Scopelitis Transportation Consulting.

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15 April
John Kingston

CTA, OOIDA to appeal court decision upholding AB5 in California trucking

The California Trucking Association and OOIDA plan to appeal a recent decision upholding California’s independent contractor law, AB5, to the 9th U.S. Circuit Court of Appeals.

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14 April
John Kingston

Minimum pay for Uber, Lyft drivers in Minneapolis pushed back to July

A new law in Minneapolis that was to go into effect May 1 on Uber, Lyft compensation has been delayed.

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12 April
John Kingston

TCA’s Heller: Trucking has adjusted to route diversions post-Baltimore

TCA executive David Heller sees the trucking industry as having made the necessary adjustments to deal with the Baltimore harbor closure.

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John Kingston

IEA: Can diesel keep dodging big impacts from attacks on Russian refineries?

The oil market is up overall, but diesel hasn’t soared despite Ukraine’s attacks on Russian refineries, key producers of the fuel.

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John Kingston

Fired driver stung by Drive-A-Check report loses appeal in defamation case

A truck driver who filed a defamation suit because of the contents of a report on him came up short on appeal in federal court.

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11 April
John Kingston

Preliminary Q1 results at embattled Norfolk Southern miss expectations

A preliminary report on how Norfolk Southern did in the first quarter comes as the showdown over its future nears a climax.

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09 April
John Kingston

Court upholds EPA’s ability to grant environmental waivers to California

A federal appeals court backed the authority of the EPA to grant environmental waivers to California, with possible ramifications for trucking.

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John Kingston

Teamsters out at Southern California trucking company; other votes mixed

Teamsters members at Dependable Highway Express in Southern California have ended the union’s representation at the carrier.

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08 April
John Kingston

Benchmark diesel price heads higher; so do world oil markets

The weekly DOE/EIA retail diesel price moved up Monday as pump prices are reacting to an overall strong oil market.

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John Kingston

Rerouting trucks and ships away from Baltimore: What early data shows

The first data paints a mixed picture of how trucks and ships are diverting away from Baltimore in the wake of the Key Bridge collapse.

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05 April
John Kingston

Baltimore gets FMCSA waiver, timeline for first reopening is suggested

A waiver for truckers impacted by the collapse of the Key bridge in Baltimore and a preliminary timeline for repairs offer optimism.

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John Kingston

Weak market or not, truck transportation jobs saw healthy jump in March

Truck transportation jobs in March recorded an increase in the midst of a generally weak trucking market.

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03 April
John Kingston

Drop in Class 8 truck orders in March looks big but analysts aren’t worried

Class 8 new truck orders were down in March, but the research firms that track them did not see it as significant.

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John Kingston

Daseke now part of TFI International as acquisition closes

Daseke, known primarily for its flatbed operations, is now part of TFI International.

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John Kingston

Truck lease purchase deals come under heavy fire at MATS and in court

Truck lease purchase deals did not get many positive reviews at a recent gathering of a federal task force studying the deals’ impact.

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02 April
John Kingston

2 agencies cut short-line operator G&W’s rating, cite debt-funded dividend

New debt to pay a big dividend has led the two largest ratings agencies to reduce their rating of short-line rail operator Genesee & Wyoming.

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01 April
John Kingston

Benchmark diesel price under $4 a gallon for first time in 8 weeks

The benchmark price used for most fuel surcharges is below $4 a gallon for the first time since early February.

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John Kingston

Missouri court upholds nuclear verdict, blasts carrier’s safety practices

A nuclear verdict in a fatal accident on Interstate 70 in Missouri has been upheld by an appellate court.

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Mar - 2024 -
29 March
John Kingston

Wisconsin court affirms Amazon Flex drivers were not independent contractors

An earlier ruling that a group of drivers in Amazon’s Flex program in Wisconsin are employees rather than independent contractors has effectively been upheld.

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28 March
John Kingston

Texas trucking company employee gets over 5 years for payroll fraud

An administrative assistant at a Texas trucking company who ran a fraudulent pay scheme faces more than five years in prison.

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27 March
John Kingston

Baltimore port closure puts truck drivers who haul autos in a bind

Hauling autos into Baltimore is a big business that is going to scale back dramatically in coming weeks and months.

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26 March
John Kingston

RXO gets negative outlook from Moody’s but keeps investment-grade rating

Moody’s held its investment-grade debt rating of RXO, but its outlook was shifted to negative.

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25 March
John Kingston

All quiet on the diesel front, for now: Benchmark price up slightly

The benchmark diesel price used for most fuel surcharges rose by the smallest amount in months.

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John Kingston

Vote on insurgent effort at Norfolk Southern set for May 9

Norfolk Southern’s annual meeting will be May 9, when the push to oust current management comes to a head.

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21 March
John Kingston

Truck of the Future: 5 takeaways from a CERAWeek discussion

The energy sources that will power trucks that carry freight in the future was the focus of a discussion at CERAWeek. (Photo: Jim Allen/FreightWaves).

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20 March
John Kingston

Analysts at CERAWeek know 2023 oil market predictions didn’t pan out, look to 2024

Oil analysts at CERAWeek see a market that isn’t what they predicted a year ago but is relatively stable, all things considered.

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19 March
John Kingston

Hydrogen mania at key energy conference in ’23 more tempered in ’24

The precise rules granting tax breaks to hydrogen to fuel trucks are still to be announced, and that has some people at CERAWeek concerned.

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John Kingston

Benchmark diesel price up slightly but futures are surging

The benchmark diesel price used for most fuel surcharges rose 2.4 cents, though diesel futures are climbing rapidly.

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18 March
John Kingston

Further appeals to block AB5 from California trucking seen as a long shot

The odds of winning the big AB5 independent contractor case on appeal, after last week’s smackdown in a lower court, are considered slim, observers say.

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16 March
John Kingston

Groups lose latest court attempt to block California’s AB5 from state’s trucking sector

A new attempt to keep California’s independent contractor law AB5 from the state’s trucking sector was thoroughly rejected by a federal judge this week.

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15 March
John Kingston

After minimum pay rule passes, Uber and Lyft threaten to leave Minneapolis

Uber and Lyft have declared their intention to pull out of Minneapolis after a minimum pay ordinance for app-based drivers survived a mayoral veto.

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John Kingston

California gets another pot of money for ZEV and other cleaner trucks, courtesy of Volkswagen

The Volkswagen diesel scandal settlement is providing more money to buy zero-emission drayage trucks and other vehicles in California.

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14 March
John Kingston

Key analysis sees Red Sea shipping diversions starting to boost oil demand

The closely watched International Energy Agency analysis of oil supply and demand is seeing consumption growing in part because of shipping diversions.

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13 March
John Kingston

Union Pacific CEO defends safety practices without mentioning key critic

Union Pacific CEO Jim Vena defended the railroad’s safety record, which recently has come in for criticism from Federal Railroad Administration Chairman Amit Bose.

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12 March
John Kingston

GXO acquisition of Wincanton draws caution and praise from ratings agencies

The two key ratings agencies expressed caution about the debt metrics on GXO’s acquisition of Wincanton. (Photo: GXO)

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11 March
John Kingston

As diesel settles into tight trading range, retail benchmark dips again

The benchmark diesel price used for most fuel surcharges fell slightly for the third straight week.

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John Kingston

Federal court in Texas nixes NLRB rule on joint employee status

An NLRB rule on joint employee status that was widely feared by employers has been vacated by a federal court in Texas just before it was to take effect.

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08 March
John Kingston

Jobs report: Truck transportation employment flat; warehouse jobs drop again

Truck transportation jobs in the monthly BLS report were slightly down, but that couldn’t be said for plunging warehouse numbers.

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07 March
John Kingston

E2open stock pops higher on announcement it is launching ‘strategic review’

Supply chain software provider E2open, with Elliott Investment Management holding a big stake, has launched a “strategic review” on its future.

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John Kingston

SEC backs off on requiring companies to report scope 3 emissions

The Securities and Exchange Commission has withdrawn a rule that would have required reporting of scope 3 emissions, those related to companies’ supply chains.

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06 March
John Kingston

FTR, ACT report solid but not stellar new Class 8 truck build numbers

The latest figures from ACT and FTR show a new truck build market that remains solid but that slowed from a month earlier.

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John Kingston

TIA chief: In tough times, strengthening broker-carrier ties is vital

At the FreightWaves 3PL Summit, TIA’s Anne Reinke talks about the natural distrust between brokers and carriers.

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05 March
John Kingston

Norfolk Southern fires back at Ancora, gets Wall Street analyst’s support

Norfolk Southern has defended its safety measures and CEO pay package amid criticism and calls to action from activist investor Ancora Holdings.

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John Kingston

Dispute over ESG policies leads to a director departure at Werner

A director at Werner Enterprises has resigned over several disputes, including one over the truckload carrier’s environmental, social and governance policies.

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04 March
John Kingston

12-month story: Crude oil prices move slightly lower, but diesel falls further

The benchmark price used for most diesel fuel surcharges was down for a second consecutive week.

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John Kingston

ACF spurs small gain in zero-emission drayage trucks at Port of Long Beach

Drayage carriers at the Port of Long Beach may be adding more internal combustion engine vehicles than zero-emission vehicles to prepare for California’s Advanced Clean Fleets rule. The Port of LA’s use of ZEVs is also low.

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03 March
John Kingston

Amid debate over rail safety concerns, another Norfolk Southern train derails

A Norfolk Southern train derailed in Pennsylvania on Saturday amid an already heated battle over railroad safety issues. Here’s the latest.

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01 March
John Kingston

Teamsters, Anheuser-Busch reach new 5-year contract

The Teamsters and Anheuser-Busch have reached a new five-year contract covering 5,000 workers across operations in the U.S. 

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Feb - 2024 -
29 February
John Kingston

Shelley Simpson named CEO at J.B. Hunt in long-expected move

J.B. Hunt President Shelley Simpson becomes CEO on July 1, succeeding John H. Roberts III.

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28 February
John Kingston

Settlement of case involving BNSF’s use of trucker biometrics set at $75M 

A case in Illinois involving BNSF Railway and a federal law on biometric information privacy has its settlement figure: $75 million.

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John Kingston

Deadline nears for filings as Werner seeks review of nuclear verdict

The Texas Supreme Court has set a March 6 deadline for any parties that want to weigh in on the $90 million verdict against Werner Enterprises.

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27 February
John Kingston

BMO’s Q1 earnings show more credit deterioration in trucking industry

Financial data from Canadian bank BMO, a major lender to the trucking industry, showed further credit deterioration.

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26 February
John Kingston

In quieter diesel market, benchmark price moves down just over 5 cents

The weekly diesel price that serves as the basis for most fuel surcharges fell in its latest posting.

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John Kingston

Pilot’s drop in profits led to lower valuation in final Berkshire purchase

When Berkshire Hathaway bought the last 20% of Pilot Travel Centers, the deal valued the chain at significantly less than just a year earlier.

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23 February
John Kingston

If truckers haul bread and cakes, is their business baking or trucking?

Supreme Court considers that question and what it means for disputes taken to arbitration or to court.

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John Kingston

New report details challenges, opportunities in freight market

A new report from venture capital firm UP.Partners takes a look at the impact of the freight recession and new developments in the industry.

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22 February
John Kingston

Triumph factoring group’s new COO sits atop a business that has doubled

Kimberly Fisk, the new COO of Triumph’s factoring group, sat down for an interview with FreightWaves as she begins the job.

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21 February
John Kingston

State of Freight takeaways: Is a weak February the bottom of the cycle?

Takeaways from the State of Freight webinar this month kick off with an “abysmal” February.

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20 February
John Kingston

Volume weakness at Expeditors continues, but rate of decline slows

Volume data at Expeditors suggests that the year-on-year decline is slowing from where it was earlier in 2023.

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19 February
John Kingston

Live on stage: The complex relationship between a trucking job and life

“Grabbing the Hammer Lane,” a one-actor show with trucking as a theme, is winning strong reviews.

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16 February
John Kingston

Teamsters ousted at Dr Pepper Wisconsin, face off against Anheuser-Busch

The Teamsters, which have been mostly winning lately, saw their union kicked out by some workers in Wisconsin.

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15 February
John Kingston

FMC upholds ruling upending current chassis pool system

An administrative law judge ruling against the current system of chassis pools was upheld by the full Federal Maritime Commission.

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John Kingston

Investment bank praises Triumph Financial but cuts its stock price rating

Investment bank Piper Sandler cut its rating on trucking-focused bank Triumph Financial even as it offered praise for the company’s strategy.

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14 February
John Kingston

Ryder continues shift toward less reliance on leasing, talks up Cardinal

Ryder has a plan in place to reduce its reliance on equipment leasing. Its progress could be seen in its earnings.

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13 February
John Kingston

Dates set for International Roadcheck: May 14-16

International Roadcheck through North America will take place in mid-May this year.

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John Kingston

NJ insurers: Umbrella policies key to meeting new truck coverage minimums

New Jersey’s leading insurance trade group says umbrella coverage is likely the way to go for fleets  looking to meet the state’s new $1.5 million minimum.

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12 February
John Kingston

Benchmark diesel price jumps the most since October, back above $4

The DOE/EIA benchmark price used for most fuel surcharges is above $4 for the first time since December.

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John Kingston

RXO looked to be avoiding the worst of the freight market, but no more

Reaction to RXO’s fourth-quarter earnings has been decidedly negative, and the first quarter started off weak.

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08 February
John Kingston

RXO touts performance even as numbers show impact of weak freight market

RXO’s fourth quarter was slightly better than the third, but overall, the 3PL had its challenges last year.

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07 February
John Kingston

Uber Freight’s revenue and EBITDA still weak

There isn’t much sign of an upturn in Uber Freight’s latest earnings report.

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John Kingston

Thomas Schmitt out as CEO at beleaguered Forward Air

Thomas Schmitt, the Forward Air CEO who put together the deal with Omni Logistics trashed by investors, is leaving the company. 

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06 February
John Kingston

14-year-old case that brought ABC test to New Jersey was just settled

A lawsuit that goes back to 2010 and opened the door for the ABC test in New Jersey has been settled.

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05 February
John Kingston

A first since September: Benchmark diesel price up 2 straight weeks

The benchmark price used for most fuel surcharges has risen two straight weeks for the first time since September.

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John Kingston

U.S. Bank Index variances suggest possible bottom for excess capacity

U.S. Bank’s freight indices are down but at a rate that may suggest a balancing of capacity could be ongoing.

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