Falling spot rates, falling contract rates and falling revenues create rising stress and blood pressure in truckload operations teams.

On Tuesday, FreightWaves Research released survey data suggesting declining freight conditions are impacting owner-operators especially hard. An important takeaway is the potential for many more owner-operators to leave the industry if conditions do not improve.

On Thursday, according to a news release, BP Products North America Inc., a subsidiary of BP, reached an agreement to purchase TravelCenters of America for $1.3 billion in cash. The purchase of TA is expected to add around 280 travel centers and double BP’s global convenience gross margin.

FreightWaves’ Noi Mahoney reports that, according to CargoNet data, a surge in cargo thefts near the end of 2022 led to an estimated $223 million in goods being stolen across Canada and the U.S. 

Christopher Thornycroft, executive vice president at Redwood, joined us to talk about the Lunar New Year and what it means for freight demand. For those unaware, the Chinese Lunar New Year holiday began Jan. 22 and typically lasts two weeks. This year, it will end with the Lantern Festival on Sunday.

A report published Wednesday by Morgan Stanley Research highlights demand expectations and how carriers and brokers are hungry for freight.

Josh Smith, vice president at Variant and over-the-road operations at U.S. Xpress, spoke to FreightWaves about the Variant program and how technology and operations are vital to success in trucking.

On Tuesday, FreightWaves interviewed Werner Chief Information Officer Daragh Mahon about the company’s recent partnership with Samsara, diving into how AI and updated legacy systems are transforming Werner’s 8,500-truck fleet. 

A Republican-backed bill introduced by U.S. Rep Brian Mast, R-Fla., seeks to exempt underage truck drivers from rules that prohibit them from hauling containers to and from marine terminals.

Wabash and J.B. Hunt Transport have signed a multiyear deal that will supply J.B. Hunt with 15,000 trailers. The size and scope of the pact are significant, as the past two years saw pandemic-related supply chain disruptions throttle up new trailer orders, causing the average age of existing trailers to rise.

On Tuesday, FreightWaves interviewed Josh Bouk, president of Trax Technologies, about the recent Securities and Exchange Commission rule-making recommendation back in March 2022 regarding scope 3 emissions. Scope 3 is a part of a larger greenhouse gas emissions overhaul by the SEC, the intent being for companies to disclose their impact on the environment.

Bob Biesterfeld, president and CEO of C.H. Robinson Worldwide Inc., stepped down Tuesday. FreightWaves’ Mark Solomon wrote that according to a person familiar with the matter, this departure had been planned months in advance and mostly was a matter of timing. 

Persistently higher inventory levels are causing a drag on truckload tender volumes as 2023 begins. 2019 and 2018 SONAR data indicates we may approach levels of pre-pandemic seasonality, but higher truckload capacity will continue to negatively impact rates until enough truckload supply leaves the market.

Outbound tender rejection rates, a measure of the percentage of truckload shipments tendered to carriers by shippers, have reached a record at 5.05%. For trucking, this will be a cause of mostly stress instead of celebration. 

Uber Freight recently released a report on contracted rates. Its consensus is that contract rates are indeed falling, but like a game of contracted musical chairs, we still do not know when the music will stop. 

Atoke, a town of 3,000 people nestled in the Choctaw reservation in southeast Oklahoma, used to be home to herds of buffalo and bison (there is in fact a difference). Now this reservation, a hidden 11,000-square-mile parcel of land, has become one of the largest drone delivery testing sites in the world, according to FreightWaves’ Jack Daleo. 

One of the most interesting takeaways in the chart above details how traditional freight brokerages that have built and marketed their own apps have taken the lead in downloads over third-party load boards.

urricane season can frequently — and unexpectedly — change the trucking dynamic. Part of this involves the positioning of equipment in anticipation for hauling FEMA freight.

Inbound container volumes into the U.S. bode poorly for future trucking volumes. Trucking is the critical node for transporting goods, handling over 70% of freight in the U.S. at a given time.

The American Trucking Associations’ (ATA) seasonally adjusted For-Hire Truck Tonnage Index increased 2.8% in August after a disappointing 1.5% drop in July. The ATA data primarily relates to contracted freight tonnage volumes and is a useful indicator of shipping activity.

The outlook for trucking companies buying new or used Class 8 trucks can best be described like a 2005 Facebook relationship status — “It’s complicated.” 

FreightWaves, in partnership with MerQube, an index provider, on Tuesday released a supply chain tech index. This index is composed of companies identified by FreightWaves and MerQube as supply chain tech companies and traded on developed market exchanges.

U.S. Xpress is going through a reorganization following a recent round of layoffs. The technology-driven Variant program will be merged into a larger Highway Services group, which will include the legacy over-the-road business and the USX freight brokerage.

Driver training schools are seeing an influx of those interested in joining the trucking industry. 

For many over-the-road drivers, a major source of their meals can come from C-store locations built into truck stops like Love’s, Flying J and Pilot.

A former dispatcher outlines his career path in the wild world of trucking. The only certainty is just how chaotic trucking can get.

The trucking business is often cyclical, and understanding the changes in profitability is a great barometer for the general macroeconomic outlook.

On Monday, the Iowa-based truckload carrier acquired several assets from the Contract Freighters Inc. (CFI) portfolio

FreightTech 100 nominations end soon It’s the second most wonderful time of the year behind college football returning. If you or someone you know is innovating or disrupting the freight […]

Rail service levels are impacting trucking intermodal growth plans. At a Deutsche Bank transportation conference on Tuesday, J.B. Hunt noted that intermodal demand remained strong but poor rail service appears to be creating a bottleneck. 

Trailer pools as a hedge against contract rate declines, Electric truck infrastructure — breakthroughs versus misconceptions

ATRI: Costliest year ever in trucking On Wednesday, the American Transportation Research Institute (ATRI) released its annual report on the operational costs of trucking. The report, which has been published […]

Legal battle over trucking independent contractors The trucking owner-operator business model is getting more legal challenges. The 7th U.S. Circuit Court of Appeals overturned a lower court decision in May […]

Trailer pool services are gaining adoption. Wabash, a major manufacturer of equipment, recently announced a partnership with Phoenix-based freight brokerage FreightVana to supply the company with its trailer-as-a-service (TaaS) platform.

FreightWaves recently conducted a survey of owner-operators outlining business issues and outlooks on profitability in 2022 compared to the previous year.

A common theme during the downward swing in the cyclical freight market cycle is the movement of owner-operators in and out of large fleets.

The Port of Oakland in California is experiencing a work stoppage and limited access to the container terminals as truckers escalate their protests against the state’s AB5 law.

New rules proposed by the Securities and Exchange Commission regarding disclosure of climate-related risks and greenhouse gas emissions could greatly impact the trucking industry.

The protests stem from the potential impact the AB5 law will have on the over 70,000 owner-operators who operate in California.

Loaded and Rolling: Holiday impact on trucking; CA AB5 law goes into effect; Inflation headwinds batter consumer spending in May

There are a few key factors to consider when looking to book spot market freight, according to my seven years as a freight broker.

J.B. Hunt showcases its tech-enabled multimodal marketplace to streamline efficiency

TransForce showcases digital recruiting platform, matching drivers and carriers through technology

Emerge, a tech startup based in Scottsdale, Arizona, is showcasing its AI-powered, dynamic Freight Procurement platform as part of its seven-minute live demo during The Future of Supply Chain event in Northwest Arkansas.

Drivewyze, a leader in connected truck services and operator of the largest public-private weigh station bypass network in North America, is showcasing its Safety+ safety suite during a seven-minute live demonstration.

Network Transport completes its move into a new, larger company headquarters as part of its expansion strategy, which adds 100 jobs over the next 12 months.

In today’s episode, we talk about the challenges of tracking freight, and how we can change telephone calls into telematics updates. Our special guest is Ryan Rogers, CEO of freight location tracking startup TextLocate.

For many large carriers, communication is automated, but those fleets are in the top 1% of all registered carriers. For the rest of trucking, tracking still involves a phone call. In this episode, we look at ways to make tracking methods transparent and available to all.

Is it possible to make this simpler?

Sandeep Kar, chief strategy officer at Noregon Systems, joins FreightWaves’ Global Supply Chain Week to talk about major changes and challenges facing the automotive industry.

MIT’s David Correll and aifleet’s Marc El Khoury join Thomas Wasson on this episode of Loaded and Rolling to talk about the much-touted driver shortage.

Driver as a service: J.B. Hunt becomes Waymo’s first self-driving freight customer, Commentary: The dangers of dwell, Market update: Outbound tender rejections decline amid rising spot rates

Supreme Court blocks COVID vaccine mandate for large businesses On Thursday, the Supreme Court ruled in a 6-3 decision that blocked enforcement for vaccine or testing requirements for large private […]

FreightWaves’ Top 500 Largest For-Hire Carriers list FreightWaves just released the inaugural Top 500 list of the largest for-hire trucking fleets in the U.S. The ranking is based on tractor […]

Driver recruiting challenges, pay and demographics trends Driver recruiting remains a key challenge heading into 2022 due to pandemic, demographic and economic trends. Pay and wages remain a central theme […]

Cybersecurity and large fleets: Risks of cyberattacks on the rise Cybersecurity is becoming a major topic in trucking due to recent publicized ransomware attacks against motor carriers. Ransomware is a […]

Struggling for capacity: A briefing on fleet availability The holiday season in trucking traditionally sees lower driver activity due to the Christmas and New Year’s holidays. The driver’s home time […]

Trucking trends of 2021: Buying growth, expanding capabilities It’s the end of the year and for the trucking industry, disruption, record profits and new opportunities are all major themes to […]

Capacity crunch: Competition for carriers brings rising costs, new opportunities Continued freight demand and limited truckload supply are allowing trucking companies to be selective with which loads to take, causing […]

In today’s newsletter: Enterprise carriers race to innovate; Component shortage delays electric vehicles; ATRI top truck bottlenecks of 2021. Enterprise carriers race to innovate by embracing new technologies and partnerships […]

Central Freight Lines shuts down, U.S. Xpress fires truckload exec and ACT releases driver hiring data Central Freight Lines to shut down after 96 years Central Freight Lines to shut […]

In this issue: AI Fleet raises $21 million; the American Transportation Research Institute ranks trucking concerns; and the Logistics Managers’ Index is expanded. Trucking in disruption: AI Fleet raises $21 […]

Stephens investment conference trucking equipment highlights Supply chain challenges were the main focus at the Stephens annual investment conference earlier this month in Nashville, Tennessee. Executives said driver recruiting and […]

ATRI research on truck driver motivations and satisfaction The American Transportation Research Institute released results on its analysis on what motivates truck drivers to become company drivers or owner-operators/independent contractors […]

J.B. Hunt transload service starts as shippers deal with intermodal and port congestion J.B. Hunt Transport Services has started a transload service in the New York metro area. In a […]

House Transportation Committee hearing on truck driver shortages In remarks to the House Committee on Transportation and Infrastructure, MIT Professor David Correll recently outlined yearslong research conducted by the MIT […]

Private trucking fleets expand amid soaring spot rates According to a recent National Private Truck Council Report, private fleets continue to expand due to high spot market rates and dwindling […]

F3 Virtual Experience trucking roundup Last week FreightWaves hosted the F3 Virtual Experience, which involved industry leaders discussing topics related to the future of freight, key factors impacting markets, industry […]

Infrastructure bill and trucking impact On Nov. 5, the U.S. House of Representatives passed the $1.2 trillion Infrastructure Investment and Jobs Act (IIJA) by a 228-206 vote after passage by […]

FMCSA new authority approval at record high from spot rates and tight capacity  The Federal Motor Carrier Safety Administration is setting records. New motor carrier authority approvals are at an […]

Motor Carrier Act of 1980, OTR driver shortage, consumer confidence falls

Dedicated trucking becomes more committed, truck parking capacity crunch, consumer spending sky high