Flatbed carrier Daseke said Friday it would repurchase $40 million in stock, following an April request from an activist investor to do so.
Logistics real estate operator Prologis said Wednesday that its planned acquisition of Duke Realty has received shareholder approval.
Patriot Rail Company announced it is acquiring fellow short-line operator Delta Southern Railroad.
“Using the TruckCoinSwap mobile and web apps — and TCS Token — transportation companies can now receive free invoice settlement and get paid sooner. TCS is helping to write a new chapter in blockchain and Web3,” says CTO Jake Centner.
“Their truck-first mentality is the right approach to win the highly fragmented road freight industry,” says a Founders Fund partner on its recent investment.
Nikola CFO Kim Brady testified in Trevor Milton’s fraud trial that the founder’s statements “could be inaccurate or exaggerated.”
Neither an “intervention” nor changing social media passwords deterred Trevor Milton’s social media frenzy, Nikola’s CEO testifies .
Nikola CEO Mark Russell testified in Trevor Milton’s fraud trial that Milton went on a publicity “blitz” to attract retail investors.
Logistics fintech platform Axle Payments announced Thursday a rebranding to Denim after disclosing it has finished its $126 million Series B funding round.
FedEx has pulled its guidance a week before releasing first-quarter results. The company reported a $572 million year-on-year decline in FedEx Express’ operating income as macro weakness and higher costs took a toll.
Western U.S. truckload carrier Super T Transport announced it has been sold to Austrian transportation and logistics provider Berger Logistik.
USA Truck said Thursday it has been sold to German 3PL DB Schenker.
Cass data shows freight volumes reached a more than four-year high in August. But linehaul rates slid for the third straight month.
Cameron Eastman, a software-as-a-service veteran, has joined supply chain digital ecosystem Transflo as its new CFO to lead its next stage of product development.
The MerQube FreightWaves Supply Chain Tech Index is introduced.
Opening statements in Trevor Milton’s fraud trial paint a picture of greed contrasted by tales of tweets and corporate betrayal.
“This new funding will help us accelerate development of our platform and add even more data sets to enrich our expert industry analyses to further drive transparency in the market,” says Xeneta co-founder and CEO Patrik Berglund.
Less-than-truckload carrier Yellow Corp. sees tonnage fall by mid-teen percentages in the first two months of the third quarter as it implements the first phase of its restructuring.
The MerQube FreightWaves Supply Chain Tech Index is introduced.
After a full day of questioning potential jurors, a panel was seated for Nikola founder Trevor Milton’s trial on federal fraud charges.
Less-than-truckload provider Forward Air continues to register notable revenue growth more than one year into freight swap.
Nikola founder Trevor Milton’s fraud trial begins Monday, Sept. 12, in the U.S. District Court for the Southern District of New York.
Flatbed operator Daseke saw its debt rating upgraded by S&P Global Ratings.
Boa Logistics aims to “create heavier densities heading in the same direction, ultimately making a more efficient revolving supply chain for the carriers in our network.”
Management teams from a couple of the nation’s largest fleets share their thoughts on peak season and rates during an investor conference.
More than a year after he was indicted on criminal fraud charges, Nikola founder Trevor Milton will go on trial Monday.
In a Q&A with FreightWaves, Shifl CEO Shabsie Levy says of current general rate increase global shipping practices: “It essentially incentivizes chaos and disruption but yet doesn’t play in anyone’s favor.”
More signs of slowing in the less-than-truckload industry appeared Thursday when ArcBest provided a third-quarter update.
“Inflation has spiked aggressively, you have rising fuel costs as well and we recognize that sometimes two days or longer may still be too long to wait,” says Convoy co-founder Grant Goodale.
Truckload carrier U.S. Xpress announced staff cutbacks, capex reductions and reorganization of its operating units.
Third-quarter updates from less-than-truckload carriers highlight a freight market that continues to slow.
With day traders and sports bettors piling into SPACs, valuations of young companies became the stuff of fantasy.
As the freight cycle shifts to a lower gear, deal flow throughout the industry remains hot.
Odyssey Logistics, a 3PL that specializes in metals and chemicals, had its debt rating upgraded by Moody’s.
Rusty Rush not only operates more truck dealerships than anyone on the planet, he also knows technology. And he has opinions on just about everything. So, buckle up. It’s Rush hour.
Ryder has bought the rest of Baton, a logistics software startup that already had received funding from Ryder Ventures.
Lineage Logistics announced the expansion of its European transportation and distribution network through acquisition Thursday.
“FedEx is not just making an investment. They are also rightly identifying tracking and visibility as vital areas in the supply chain,” says Cambridge Capital’s Benjamin Gordon.
Quarterly data from BMO, a major lender to the trucking industry, does not suggest significant financial pain among its clients.
RoadOne IntermodaLogistics announces its fourth acquisition in the past year.
Transportation insurance broker Reliance Partners announces a recapitalization with plans to reach $1 billion in written premiums in the next three years.
Nikola founder Trevor Milton bought 3 million shares of electric truck company stock weeks before his criminal trial is to start.
Just two supertankers have been ordered in the past 14 months, raising the risk of a future shortfall in oil transport capacity.
Uber Freight and others announced LightningPay last fall, and the product’s philosophy and practices were presented at a key industry conference in Atlanta.
A severe recession deserves some mindshare among scenarios that could play out in coming months, ACT Research economist Jim Meil says.
RoadOne IntermodaLogistics announced the acquisition of Oakland, California-based R&A Trucking.
The Russia-Ukraine war caused demand for LNG to surge. Owners of LNG carriers are in prime position to profit this winter.
PS Logistics has acquired transportation assets from Phoenix Leasing of Tennessee and its sister company Colonial Freight Systems.
Truckload carrier Heartland Express will take on another difficult turnaround in CFI, which it acquired from TFI International for $525 million.
OOIL reports record revenue but has “legitimate concerns about the impact of inflation and interest rate rises on consumer spending.”
Heartland Express announced Monday the acquisition of CFI’s non-dedicated dry van and temperature-controlled fleet in the U.S. and its logistics operation in Mexico.
CEO Craig Knight has been ousted as Hyzon Motors CEO as financial issues heightened the trucking fuel cell maker’s risk of Nasdaq delisting.
Trans-Pacific spot container shipping rates continue to head lower. Zim appears more at risk than some of its rivals.
Trucking fintech AtoB on Wednesday announced raising $155M in a Series B round.
Walmart pulls back on its order activity to align its inventory levels with projected demand.
A report by S&P Ratings keeps Penske’s debt ratings at its current level, but the outlook is improved.
An annual ATRI survey reflects the weakening correlation between retail diesel prices and actual trucking fuel costs.
Daimler Truck posted improved revenue and income in Q2 but expressed full-year concerns because of Russia’s war on Ukraine.
Yang Ming summed up its second quarter and the first half of 2022 in about 150 words.
Hapag-Lloyd bookings point to a gradual unwind of the container shipping boom, not a crash.
Hyliion still depends on its hybrid electric booster for its revenue, but the orderbook expanded 11% for the Hypertruck ERX in Q2.
South Korean ocean carrier HMM expects “downward pressure” on demand growth in the second half of 2022.
Despite economic headwinds, the rail car manufacturing market will find support in the second half of 2022 amid tight rail car supply and improving rail service metrics, FreightCar America executives said on an earnings call.
Workhorse Group recorded next to no revenue in the second quarter as CEO Rich Dauch’s transformation hits the one-year mark.
Trucking compliance solutions company co-founder Hunter Yaw explains the “today costs” of compliance programs.
Despite lower volumes in BNSF’s consumer, agricultural, industrial and coal segments, the railroad’s freight revenue rose to nearly $6.3 billion on higher revenues per carload.
Improvements in rail service and “unparking” locomotives are market signals that could bode well for Wabtec in the back half of this year.
Hyzon Motors, which went public a year ago in a merger with a blank check shell company, is the latest electrification startup in trouble.
XPO recorded several records in its second-quarter earnings as it prepares to turn over Brad Jacobs’ CEO seat to Mario Harik.
It looks increasingly likely that war-driven changes to global crude flows will persist for an extended period.
Shareholder letters and earnings call transcripts don’t qualify as page-turning vacation reading. But they say a lot.
Record results by the cargo division pulled Deutsche Lufthansa AG to profit in the second quarter for the first time since the COVID crisis began, underscoring how moving goods has […]
Supply chain technology provider Trimble reported transportation revenue of $150 million for the second quarter.
Air Transport Services Group rode the e-commerce wave to another profitable quarter.
Ride-hailing giant Lyft reported earnings for the second quarter after the bell Thursday.
DoorDash saw rising orders and revenues in Q2, but it still posted a $263 million quarterly loss.
Even though macroeconomic uncertainties lie ahead, Hub Group expects to find support in the medium term through improving rail service, market conditions that encourage more conversions to rail and the diversification of its business, executives said on Wednesday’s earnings call.
Werner reported revenue of $836 million in the quarter and sees a strong “pipeline” of demand from customers for the remainder of the year.
Truckload carrier U.S. Xpress’ internal startup Variant continues to struggle with high turnover and declining utilization.
Yellow Corp.’s bottom-line numbers show solid gains despite double-digit daily tonnage declines.
Fleetcor Technologies Inc. on Wednesday reported revenues of $861 million in its second-quarter earnings.
GXO’s earnings per share beat estimates, and it raised full-year guidance for revenue and earnings.
Etihad ordered big Airbus freighters to support its ambitious growth plans for cargo.
Container shipping giant Maersk sees continued strength in U.S. imports and ongoing supply chain disruptions globally.
E-commerce is making air cargo an attractive play for investment funds. Atlas Air is on Apollo Global Management’s wish list.
Proxy hunters bagged enough votes to give electric truck maker Nikola the financial flexibility it had been seeking since June.
Daseke officials expect strong demand from industrial customers like Caterpillar to help the company grow revenue up to 15% by the end of the year. (Photo: Jim Allen/FreightWaves)
For the second consecutive quarter, Uber Freight turned in a financial report that showed it as profitable by a key standard.
Air and ocean freight company saw its volumes slump but managed to be more profitable as it held the line on expenses.
On Jennifer Rumsey’s second day as CEO, Cummins Inc. reported strong Q2 earnings in North America.
“Terra is the largest transportation solutions company … that you’ve probably never heard of,” said the founder and chief operating officer of Terra Worldwide.
Uber beat earnings expectations for Q2, but its delivery business wasn’t the driver this time around.
TravelCenters of America Inc. tops $3 billion in revenue for the second quarter.
Second-quarter cargo business softened on the margins for British Airways and its sister airlines but was still much better than before the pandemic.
Transport and logistics giant TFI posted quarterly gains across the board and raised the outlook for the rest of the year.
Shippers want to move more goods via rail, and they will do so once rail service improves. This will ultimately benefit lessors like Trinity Industries, CEO Jean Savage told investors on a recent earnings call.
ArcBest reported better-than-expected results again during the second quarter.
Cargojet says it has two built-in defenses against an economic downturn: e-commerce and unstable cargo service at passenger airlines.
P.A.M. Transportation Services reported better-than-expected second-quarter results Thursday.
Schneider National beat second-quarter expectations even with a precipitous drop in gains on sale.
