Logistics REIT Prologis sees demand for space accelerate even as e-commerce activity recedes to near-normal levels. 2020 outlook raised on market tightness.
These factors are dampening lease rates and renewal activity, the company said during its second-quarter earnings call on Tuesday.
The coronavirus’ whipsaw effect on the global supply chain took a toll on Kuehne + Nagel during the first half of 2020, but without a rapid internal response the hit would have been far worse, CEO Detlef Trefzger says.
PACCAR beat the consensus estimate of analysts, posting second-quarter profits of nearly $148 million despite U.S. plants being closed for five weeks because of the coronavirus pandemic.
Logistics REIT Prologis reports stronger than anticipated second quarter and raises outlook for the remainder of the year.
YRC loan called into question by Congressional Oversight Commission. YRC’s board may have had the same concerns with the company’s equity in 2019.
Number and average size of invoices purchased both declined from 1Q 2020 and 2Q 2019
The Trucking Freight Futures markets continued their march higher last week, reflecting the overall boom in the freight economy, as the spot July National contract rose $0.023, or 1.5%, to $1.580 per mile.
Asset sales in Comcar’s pre-packaged bankruptcy have hit a roadblock. Obstacles include questions on trailer titles and the sale of the business units to the former chairman, who still has an unsettled dispute with the company.
Owners of low-priced warrants for new shares and pre-merger discount buyers registered to cash out of electric truck startup Nikola leading to an after hours selloff on Friday, July 17.
The railroad plans to keep operational changes such as reduced train starts and longer trains even as volumes rebound.
The truckload carriers have reported solid results to start second quarter earnings season, but some load data is still lagging.
Tightened capacity seen as a spur to both Heartland and Marten beating estimates, with optimism from analysts going forward The earnings reports of truckload carriers Heartland Express and Marten Transport […]
Plus.ai, a self-driving trucking company based in the U.S. and China, is in talks to raise $60 million, the Information reported.
Better-than-expected performance across the board buoys Daimler prospects. Job cuts are a big part of the picture in a preview of second-quarter earnings.
Glum Volvo Group financial report follows layoffs of 4,100 white-collar workers in second quarter. Uncertainty means the pain may continue for some time.
The railroad experienced a 23% dip in revenue as carload volumes fell 21%.
J.B. Hunt easily bests consensus forecasts led by better-than-expected intermodal and dedicated results. The back half of 2020 remains hazy on COVID-19 fears.
Overall operating ratio improves on back of dedicated and truckload segment gains
J.B. Hunt Transport Services posts a solid second quarter, besting analysts’ forecast by 31 cents per share.
After delisting from the NYSE, Roadrunner Transportation Systems announces it will add three new less-than-truckload facilities this summer. The expansion is part of its re-organization focused on asset-light offerings.
Heartland’s expenses were up more than revenue so operating ratio rose. Cash stockpile rose and it has plenty of borrowing capability.
Uber is reported to be raising $500 million in funding for its brokerage segment. The deal would place a valuation of $4 billion on Uber Freight.
Embezzlement scheme at Parke Cox totaled roughly half a million dollars.
Both conferences are open to all transportation professionals, whether or not they are current customers of McLeod Software.
Strategy to move into new areas off its platform gets biggest investment ever in the company known primarily for its weigh station bypass service.
Delta Air Lines will retire more than 100 planes by year’s end, reducing the carrier’s available cargo capacity to some destinations after coronavirus passes.
Atlanta-based airline posted $3.9 billion pretax loss for the second quarter.
It was another strong week for the Trucking Freight Futures markets as the spot National contract rose $0.023, or 1.5% week-over-week, to $1.557 per mile, setting another record for the spot National contract.
The next generation of cellphones is known as 5G. 5G promises much faster speed and other benefits. Darren Prokop explores the future of transportation and logistics in a 5G world.
Even before Hawaii imposed COVID-19 travel restrictions earlier this year, Young Brothers lost money and last year sought a rate increase valued at $13 million from state regulators.
Forward Air is expanding again. The company plans to offer traditional less-than-truckload service for the first time.
“The days of Tesla’s virtually unchallenged dominance may be numbered.”
Unlike Moody’s, agency increases a key rating by one notch, but two agencies are now about even
One rating is increased as long review by ratings agency is wrapped up
Deutsche Post DHL said preliminary second-quarter profits, despite the ongoing COVID-19 pandemic, have it less worried about the rest of the year.
TFS being sold for more than $100 million, other considerations
LTL carrier spells out its debt relief with the $700 million of Treasury funds it is getting
TuSimple, Kodiak Robotics among the recipients of PPP loans. (Photo credit: Kodiak Robotics)
Several other companies cited in overall bullish report
Reviewing the voluminous data about recipients a day after its release
The Trucking Freight Futures markets continue to reflect strength in the underlying freight market, particularly in the Los Angeles and Atlanta markets, with the spot National contract rising $0.048, or 3.2%, to $1.534/mile.
30+ big trucking borrowers identified
Deutsche Bank geofencing data shows the less-than-truckload recovery off of an April bottom spills into June.
Rail traffic continued to build through June. U.S. intermodal traffic was only off 5% year-over-year in week 26.
Separately, the truck stop operator also extended extra pay and benefits for its workers
YRC’s $700 million loan from the Treasury Department raises concerns from industry experts about the survival of the company and whether the deal is worth it.
The Universal Postal Union’s (UPU) new regulations will see an increase in international inbound package rates across the U.S.
YRC gives the Treasury Department a 30% equity stake in exchange for a $700 million lifeline.
Extension of paycheck protection needs House OK, Trump signature
YRC Worldwide announces that it plans to receive a $700 million loan under the CARES Act.
FedEx Corp. had significant positives in its fourth-quarter earnings report released Tuesday, including much-better-than-expected earnings before interest and taxes.
FedEx Corp. posted a $334 million net loss for Q4 on Tuesday, but shares spiked on strong non-GAAP results.
Workhorse gets another shot in the arm with the announcement of a $70 million loan. Shares continue their hot streak, up more than 30% on the news.
It was a strong week across the board for the Trucking Freight Futures markets with the spot National contract rising $0.046, or 3.1%, to $1.526 per mile on surging freight volumes.
Cash-rich Amazon continues to find ways to spread the money around, this time with a $500 million payment to its workers and partners.
Prologis seeks to sell the largest-ever warehouse portfolio in the U.K. The deal is reported to include 22 properties valued at more than $500 million.
Amazon is looking to buy Zoox, a self-driving startup that seeks to create a fleet of electrified robo-taxis.
Amazon has been linked to several large real estate transactions this week, including the lease of a 1 million-square-foot facility in New York.
No one is talking as YRC’s already extended healthcare benefits are nearing expiration. Coverage is set to expire in early July.
Last-minute bid prevails over PS
It was a mostly positive week for the Trucking Freight Futures markets as gains in the South and East helped push the spot National contract higher by 0.4% to $1.480 per mile.
Diesel-electric hybrid truck components maker Hyliion expects to be publicly traded around the end of the third quarter in a reverse merger like one that catapulted electric Class 8 truck startup Nikola Corp. to a $23 billion valuation.
TFI engages in a bidding war over CT; creditors committee highly critical of deal on CCC.
Some shippers and some specific invoices can be chosen for accelerated payments, but not necessarily across the board
FedEx will see $370 million in noncash charges stemming from valuation declines in previously acquired operating units.
The release will report the majority of where the dollars went but not a majority of the individual borrowers
EchoVC partner explains why the language of diversity fails to capture the extent of the problem and foster solutions.
New loans under PPP were less than $2 billion last week, and there’s plenty left on the table
Chinese warehousing robotics startup Geek+ is the most funded startup in the world in its segment.
Flatbed carrier Daseke reported five weeks of volume improvement in its second quarter update. The carrier improved its liquidity position through the first two months of the quarter.
French 3PL FM Logistic reports strong organic growth in its recent fiscal year as European expansion progresses. The company didn’t issue annual guidance due to COVID-19 uncertainty.
Deutsche Bank analyst Amit Mehrotra favors a few transportation stocks as the second quarter comes to a close.
CEO of on-demand driver platform talks about changing the face of trucking entrepreneurship
Cold storage facility operator Americold announces plans to resume facility expansion project in New Zealand.
Canadian environmental services company Aevitas adds flatbed fleet with the acquisition of Fast Lane Freight Services.
Possible issue in its debt profile: pulling down a revolving credit line at the start of the pandemic and having it still counted as a liability
Worse-than-expected data from Cass shows year-over-year declines grew in shipments and expenditures. Intermodal pricing falls out of bed.
It was an overall strong week for the Trucking Freight Futures markets as 10 of the 11 spot month contracts posted gains for the week with the spot National contract higher by 0.55% to $1.474 per mile.
Debt rating for the company held steady by S&P and Moody’s, though S&P sees a more negative outlook
The cost to build a railroad is staggering. Jim Blaze gives an overview of the costs involved in such an endeavor.
YRC Worldwide’s midquarter report was worse than that of its peers and adds to industry speculation that some shippers could be avoiding the carrier.
Daseke’s ratings were confirmed at recently downgraded levels by Moody’s. The report points to the company’s restructuring as a source for a potential ratings upgrade.
French carrier trumpets its resilience and agility during coronavirus crisis
Surging shares in electric Class 8 truck maker Nikola Corp. could help show the way for other high-tech transportation companies this year.
Jim Blaze explores the pontential for a merger or mergers among the Class 1 railroads.
In a mixed week for Trucking Freight Futures overall, the spot National contract (FUT.VNU202006) rose 0.4% to finish at $1.466 per mile.
The transportation and warehousing sector improves as Canada’s economy adds a surprising 290,000 jobs in May in the latest Statistics Canada employment report.
CEO and President Derek Leathers to usher in the next era for Werner Enterprises as founder CL Werner plans exit.
Bill deals with the problem of slow business and low employee costs.
Navistar included only one full month of impact from the COVID-19 pandemic in its loss-making second quarter. How bad will it be for manufacturers who report on a traditional April-June quarter?
ArcBest joins other less-than-truckload carriers seeing a May rebound from April lows. A 10% stock bump from a rating upgrade holds into the second trading session.
Heavy-duty truck maker Navistar reported a $38 million loss in its fiscal second quarter, the first look at the financial damage from COVID-19-related manufacturing shutdowns.
Cold storage consolidation remains hot. Lineage Logistics closes on Emergent Cold transaction, growing its already dominant global market share.
Action is based on used truck values
Less-than-truckload demand appears to have bounced off of an April bottom according to reports from carriers.
Digital freight forwarding startup Beacon raises $15 million in Series A investment.
Transplace expands its mode optionality and network optimization to parcel.
Battery electric and fuel cell startup Nikola Corp., which surprised the trucking industry by having a “blank check company” back its bid to go public, expects its shares to begin trading under its own name on the NASDAQ later this week.
While less-than-truckload volumes may not have rebounded sequentially from April, one sell-side analyst sees acceleration in recent weeks as bullish for the industry.
