Business

Cathy Roberson, an aviation market expert, writes about the effect Amazon is having on U.S. airports.

Plus: SoftBank’s wager, the ownership economy and ride-sharing in Uganda

After a decade of disrupting urban mobility, Uber finally opens up for its initial public offering (IPO) at the NYSE on May 10.

The agency issued guidance on Friday detailing the specifics of the tariff increase from 10% to 25% on $200 billion worth of goods from China.

Australia, Japan and Singapore are leading the World Trade Organization e-commerce initiative.

According to IBM research, transport execs are keen to adopt blockchain and understand its use cases.

The Blockchain Research Institute (BRI) and Blockchain in Transport Alliance (BiTA) announced a partnership to support members of both organizations in their efforts to build a collaborative network of leaders in blockchain technology last September. BRI Managing Director Hilary Carter spoke at this week’s BiTA Spring Symposium in Atlanta, offering members insight into how the […]

Beijing has sworn to institute countermeasures to combat a huge increase in tariffs, from 15 percent to 25 percent, that have been imposed by Washington on $200 billion worth of a wide range of Chinese goods. A set of high-level, last-minute, talks yesterday to postpone or prevent the tariffs failed.

Third-party logistics and multimodal transportation services company, Radiant Logistics, Inc. (RLGT), reported earnings of $0.11 per share for the quarter ending March 31, 2019 (RLGT’s third fiscal quarter 2019), $0.04 better than the consensus estimate and $0.06 better year-over-year. Total revenue increased 1 percent year-over-year to $206 million with net revenue climbing 8.5 percent to […]

One of North Korea’s largest coal-hauling vessels has been taken out of service by U.S. authorities in the first-ever cargo ship seizure related to sanctions violations by Pyongyang. The vessel Wise Honest, a 30-year old, 17,000-ton bulk carrier, was used to ship coal to China and Indonesia in exchange for delivering cargoes of heavy mining […]

Pairing professional truck drivers’ skills behind the wheel with automated systems designed to help prevent crashes is a win-win for the trucking industry, says Jason Palmer, chief operating officer of SmartDrive Systems.

There are reasons to be optimistic about rates in both the crude and product tanker sectors – and INSW’s fleet spans both categories.

PPI data showed some firming in overall inflation, though trucking rates fell again in April

Fleets must look to leverage technology to improve the quality of life and driving experience of truckers, which eventually leads to driver retention.

Patrick Duffy is the new President of the Blockchain in Transport Alliance (BiTA).

Crude tanker owner DHT Holdings believes the stage is now set for a pronounced upswing in rates.

FreightWaves Radio’s eleventh national show was broadcast on Saturday, May 4 on SiriusXM’s Road Dog Channel 146. Unlike other industry-specific radio shows that often have particular messaging or lobbying aims, FreightWaves Radio is an independent, data-driven look at what’s really going on in the freight world, and the episode proved just that. Hosts Chad Prevost […]

Trade attorneys reported that the notice for tariffs to increase from 10% to 25% applies only to goods that are both exported and entered for consumption after 12:01 a.m. Friday.

Containerized import volume was up 7% year-over-year, but port officials “are concerned about what comes next.”

The rise of urbanization is forcing the trucking industry to reexamine its business practices as there are major transformational shifts currently affecting the heavy-duty truck market.

Cruise Automation, the autonomous vehicle startup acquired by General Motors (NYSE: GM) in 2016, has secured an equity investment of $1.15 billion that values the company at $19 billion. The group of institutional investors included parent GM along with funds and accounts advised by T. Rowe Price Associates and existing partners SoftBank Vision Fund and […]

Hapag-Lloyd (FSE: HLAG) reported first-quarter results that were better than expected thanks to strength in its trans-Atlantic franchise, better exchange rates, and the one-time effect of an accounting rule change. Owner of the fifth-largest container ship fleet globally, Hapag-Lloyd reported net profit to shareholders of $104.4 million, based on the average exchange rate for the […]

A long-running lawsuit over leased vehicles appears to be reaching its conclusion. The lawsuit, Roberts, et al. v. C.R. England, Inc., et al, is scheduled for final approval by a judge on July 9, 2019, following a $37.8 million settlement that was reached last month in the class-action suit. The case centered around C.R. England […]

President Trump ordered new sanctions to be placed on Iran’s iron, steel, aluminum and copper industries in an effort to curtail weapons manufacturing and political influence.

Manila, Philippines-based container terminal operator International Container Services International has posted a solid set of first quarter results. Revenues were up. Profits were up. Box lifts were up. The group attributed its good results to operational improvements, lower finance costs and a “ramp up” in contributions by its new ports.

It’s rough out there in the dry bulk ocean shipping business. New York-headquartered Genco Shipping & Trading (NYSE: GNK) posted a net loss of $7.8 million in the first quarter of 2019, compared to a net loss of $55.8 million in the same period last year, when losses were driven by a non-cash impairment charge. […]

Whether truck location data is generated from electronic logging devices (ELDs) or proprietary tracking or routing software, there’s one location – the loading dock – where more supply chain visibility is desperately needed, according to freight industry experts. “Anyone can learn how to drive a truck; the hardest part for drivers is navigating through all […]

Cervus Equipment (TSX: CRV) expects truck sales to rebound its Canadian Peterbilt dealerships as an order backlog improves during 2019. “The order backlog is a North American backlog,” CEO Graham Drake said during a call with analysts on May 9, a day after the company released its first quarter 2019 results. “Getting the right trucks […]

Too much to talk about with too little time. Several key industry topics were bantered about by some of the best thought leaders in the industry on the final day of Transparency19. In a panel discussion, “The Bull, the Bear and the Other Guy,” moderated by FreightWaves President George Abernathy, insight was provided about the […]

As the transportation industry adapts to a digital world, owner-operators to large fleets are all grappling with how to adopt new technology. “There are more technology choices than ever. Bob’s trucking, Sue’s trucking, Mario’s trucking are hearing from nine million different sources, trying to sort that out,” said industry consultant Randy Mullett of Mullett Strategies […]

It is almost impossible to be a decision-maker in the transportation and logistics industry today without working with data. While good data can propel a company forward, bad data can stall growth.

Pricing, procuring and planning ocean and rail freight was for years a dark art practiced by a cabal of freight forwarders and logistics professionals. But the ethos of many transport tech start-ups is making those once opaque tasks more easily accessible. Kontainers Chief Executive Graham Parker said during a panel discussion at Transparency 19 that […]

Drivent is a self-driving technology company that is creating a suite of solutions that integrate with autonomous vehicles and provide exceptional user experiences.

The partnership between ride-sharing company Lyft (NYSE: LYFT) and Google-affiliated, self-driving car technology company Waymo is just one initiative in Lyft’s strategy to stake a claim in the emerging market for on-demand consumer transportation services, company officials said on May 7. Lyft confirmed Waymo’s announcement that Waymo will use Lyft’s platform to deploy 10 self-driving […]

The National Association of Manufacturers called on Congress to swiftly reauthorize the Ex-Im Bank after three board members were confirmed.

House Ways and Means Trade Subcommittee Chairman Earl Blumenauer said consideration of the bill could slip into the next Congress and presidential term.

The Transportation and Infrastructure Committee favorably reported the Full Utilization of the Harbor Maintenance Trust Fund Act with one lawmaker voicing opposition.

If lab-grown meat substitutes for farm-grown meat and is commercially successful, it will lead to a drastic reduction in freight ton-miles.

The agency on Wednesday officially announced that tariffs across $200 billion worth of goods will increase to 25 percent on Friday.

Several companies focused on using technology to make the process of moving freight more efficient showcased their products during the last round of Rapid-Fire Demos at Transparency19.

YRC Worldwide (NASDAQ: YRCW) posted a $31.7 million consolidated operating loss on first-quarter revenue of $1.182 billion, which declined slightly from first-quarter 2018 revenues of $1.215 billion. In first quarter 2019, net loss was $49.1 million compared to a net loss of $14.6 million in first quarter 2018. Zacks Consensus estimate was for an earnings per share (EPS) loss […]

Freighter aircraft deployments and additional business handled for the U.S. Department of Defense helped raise first quarter earnings and revenue by double-digits for cargo aircraft leasing company Air Transport Services Group (NASDAQ: ATSG). Wilmington, Ohio-based ATSG reported earnings from continuing operations of $26 million in the first quarter of 2019, up 26 percent over the […]

Australian ports recorded in excess of 1.94 million twenty foot equivalent (TEU) container movements during the first quarter of 2019. But freight forwarders sense a downturn may be about to happen…

On-demand warehousing company Flexe announced a $43 million Series B funding round on May 7.

Take an antiquated trillion dollar industry, machine learning and artificial intelligence, investors chasing higher yields and a few industrious solutions-oriented individuals and you get an emerging industry – high-growth freight tech. This was the conversation of the High-Growth CEO Panel at Transparency19. John Engstrom, Vice President of Investment Banking Transportation and Logistics at Stifel, moderated […]

NASDAQ-listed Eagle Bulk believes its ‘owner-operator’ model allows it earn more than ‘pure owner’ competitors.

Ride-hailing company Lyft (NYSE: LYFT) reported a first quarter 2019 net loss of $1.14 billion, or a net loss of $48.53 per share, the company said on May 7. In comparison, Lyft said it had a net loss of $234.3 million, or a net loss of $11.69 per share, in the first quarter of 2018. […]

Uber and Lyft drivers are planning to strike on May 8 at 10 locations in the U.S. to protest low wages among other concerns. Organizer Rideshare Drivers United is planning a “National Day of Action” and has been joined in its efforts by the New York Taxi Workers Alliance (NYTWA), which represents 21,000 yellow taxi, […]

Getting better use from your logistics assets, whether it be drivers, trucks, trailers, or general staff, is a major theme of Transparency19. And the Rapid-Fire Demonstrations on the second day of the event illustrated the many ways up-and-coming companies are doing just that. Emerge Tech Grant Crawford, Chief Executive Officer of Emerge Tech, said the […]

Convey, the six-year-old company trying to reinvent supply chains, has announced a partnership with MercuryGate that it said will improve the last-mile delivery experience for shippers and end customers. Convey’s Delivery Experience Management (DEM) software will be integrated into MercuryGate’s transportation management system (TMS) to provide an end-to-end experience for users seeking to launch DEM […]

Women are underrepresented across the board in transportation and logistics, with just over 20 percent of managers in transportation, storage and distribution identifying as female.

When Paul Svindland took over as CEO of Celadon Group (OTCPink: CGIP) in the summer of 2017, he was stepping into an operation that had been riddled with financial concerns following the company’s auditors, BKD LLP, stating that Celadon’s financials “should no longer be relied upon.” Since that time, Svindland and the management team surrounding […]

On Monday afternoon at Transparency19, Addison Armstrong, executive director of trucking freight futures at FreightWaves, moderated a conversation between Nodal Exchange, where freight futures are traded, DAT, whose rate indexes the futures contracts are settled against, and K-Ratio, a commodities trading advisor based in Chicago advising carriers and shippers on hedging strategies.  Danny Gomez, senior […]

Roadrunner Transportation Systems, Inc. (NYSE: RRTS) reported a loss of $1.78 per share compared with the break-even consensus estimate. The asset-right and asset-light logistics service provider’s reported revenue of $507.1 million in the first quarter of 2019 was down 11 percent year-over-year. Its operating loss was $20.8 million compared to a $13.4 million operating loss […]

TravelCenters of America announced higher fuel volumes and revenue, but one-time charges led to a quarterly loss.

While it posted a decline in sales, Workhorse is optimistic about its future with full production of its electric van set for this fall.

NYSE-listed Global Ship Lease is reporting improved conditions in the container ship chartering market.

Speakers talked about the negative impact caused by the tariffs during a discussion co-hosted by Tariffs Hurt the Heartland and the Council of the Great Lakes Region.

The afternoon block of freight technology demonstrations at Transparency19 in Atlanta May 6 brought home the value of information technology in optimizing the basic blocking-and-tackle functions that could make or save money for many players. Each presenter had just seven minutes to show their offerings as part of the “Rapid Fire Demos” on the first […]

Domino’s Pizza has partnered with SingularityNET, to test decentralized AI services in an attempt to automate portions of its delivery operations.

Roadrunner Transportation Systems, Inc. (NYSE: RRTS) reported a loss of $1.78 per share versus the break-even consensus estimate. The asset-light logistics service provider’s first quarter 2019 loss was much lower than the more than $15 per share loss seen in first quarter 2018, even after a 1-for-25 reverse stock split, which was more than offset […]

The Massachusetts Port Authority plans to acquire two additional rubber-tired gantry cranes by year’s end for a total of 16 in operation at Conley Terminal.

Macquarie Infrastructure fund selling facilities to the Singapore-owned terminal operator for an undisclosed price.

After a brief hiatus, technology pioneer Anthony Levandowski has reappeared on the autonomous vehicle scene, but has dialed back his initial vision for driverless trucks in favor of a new safety system designed to assist drivers behind the wheel.

The shadow of obsolescence seems to be hanging over freight brokerages, given the rise of digital load matching apps and other technologies. But industry veteran Andrew Clarke says he is optimistic about the future of freight brokers due to increasing complexity of supply chains. Speaking at Transparency19 in Atlanta, Clarke said the success of his […]

Machine learning and artificial intelligence took the spotlight as 10 companies showcased the latest in technology that is disrupting the transportation and logistics world at Transparency19 in Atlanta. Each presenter had just seven minutes to show their offering as part of the Rapid Fire Demos during the first day of FreightWaves’ conference in Atlanta on […]

Quantum computing’s advocates – there about 25 companies currently studying it – believe the technology heralds a massive improvement over the advanced systems that are becoming mainstream today. For transport and logistics, quantum computing’s promise of solving ultra-complex problems in a matter of seconds and with optimal results is the stuff of fantasy. Shipwell, a […]

Leading transportation management and logistics service provider SEND Transportation has integrated Trucker Tools’ Smart Capacity into its operations.

The largest flatbed, specialized transportation and logistics solutions company in North America, Daseke, Inc. (NASDAQ: DSKE), reported first quarter 2019 adjusted earnings per share of $0.03, compared to the consensus estimate of a loss of $0.09 per share. Management held a conference call to discuss these results with analysts and the media. On the call, […]

Dolly has raised $7.5 million in Series B funding, which is expected to expedite Dolly’s entrance into new markets and also help grow its operational and technical teams.

Transplace has announced the appointment of Matthew Harding as senior vice president of data science. Harding, who rejoins Transplace after a nine-plus year stay at Chainalytics, will lead the company’s data insights and analytics team. “Matthew brings extensive experience in transportation and logistics and deep expertise in utilizing market intelligence to deliver meaningful results,” said […]

Tariffs across $200 billion worth of goods in yearly import value will be raised from 10 percent to 25 percent on Friday, the president tweeted on Sunday.

Transparency19 kicked off on the morning of May 6 with an overview of the tech disruption taking place in the freight industry, a call for companies to move beyond sector boundaries and some prognostication about how Amazon’s recent foray into the digital freight brokerage space will impact incumbent logistics firms. “What Amazon wants is to […]

The House committee on Friday sent its latest in a round of letters to U.S. Trade Representative Robert Lighthizer outlining concerns with the U.S.-Mexico-Canada Agreement.

Daseke, Inc. (NASDAQ: DSKE), the largest flatbed, specialized transportation and logistics solutions company in North America, reported first quarter 2019 adjusted net income of $1.8 million in the period, $3.8 million lower year-over-year, or $0.03 per share, compared to the consensus estimate of ($0.09) per share. Revenue increased 32 percent year-over-year to $433 million, up […]

White House makes sudden u-turn on tariff truce, upsetting calm in financial markets. President Donald Trump ended the spring truce in the U.S.-China trade war this weekend, with  threat to go forward with higher tariffs on $200 billion of Chinese imports. He also upped the ante with a promise to add tariffs on another $325 […]

The president will pick Mark Morgan, former Border Patrol director during the waning days of the Obama administration, to head Immigration and Customs Enforcement.

WEX, Inc. (NYSE: WEX), a multi-channel provider of corporate payment solutions, reported earnings of $1.72 per share, down 9 percent year-over-year, but $0.03 per share higher than the consensus estimate. Additionally, the company increased earnings guidance for the year. Total revenue increased 8 percent to $381.9 million. Adjusted operating margin was 470 basis points lower […]

Berkshire Hathway (NYSE: BRK) chairman and CEO Warren Buffett said he would be willing to consider some form of precision scheduled railroading (PSR) for western U.S. railroad BNSF, although he didn’t say when or even if BNSF would eventually adopt the operating model. ”We are not above copying anything that is successful, and I think […]

Public ship owners like Navios Partners saw rates fall due to cuts in Brazilian iron-ore exports.

Brexit has not been explicitly blamed for the sale of Bombardier’s Northern Irish operation, but the EU withdrawal is a strong suspect, in putting 3,600 jobs at risk.

Executives at GasLog Ltd. believe the LNG shipping spot market is set to rebound. Others are not so sure.

The agency on Thursday released its strategy for 2020-2025 in which it highlighted predictive analytics as a potential tool for trade enforcement.

In this commentary article, Donald Broughton looks at the second part of the economy – the consumer economy – and where we are now in the economic cycle.

H.R. 2396 would unlock the HMTF’s existing $9.3 billion balance and enable the expenditure of about $34 billion over the next decade.

U.S. Trade Representative Robert Lighthizer made the statement about the third tranche of tariffs in response to questions after a Ways and Means hearing.

The National Association of Manufacturers hopes the pressure to vote on nominees will break years-long failure to restore the Export-Import Bank’s full loan-making authority.

Kuebix has now integrated Emerge’s private freight matching marketplace into its platform, allowing its users to access broader truckload capacity for their shipping needs.

U.S. Xpress held a call with analysts and the media to discuss its first quarter 2019 earnings, which were $0.15 per share compared to the consensus estimate of $0.18.

J.B. Hunt Transport has consolidated its sales, operations and customer support functions for its Mexican subsidiary in a new office in Santiago de Querétaro, Querétaro, Mexico.

U.S. Xpress (NYSE: USX), a Chattanooga-based truckload carrier, reported adjusted earnings per share of $0.15 compared to the consensus estimate of $0.18.

Best-selling author Brad Stone (The Everything Store) will tell more about the history and future of an amazing corporate success story – Amazon – at Transparency19. Get your tickets now for this must-attend event.

The raise adds to the flurry of activity that has hit the digital freight forwarding space since the beginning of 2019.

According to Seaspan Corporation, the largest U.S.-listed container-ship lessor, liner companies are pulling vessels from service to install scrubbers, which is increasing demand for new charters.

Schneider National, Inc. held  a call with analysts and media to discuss earnings results. Most of the call focused on explaining what occurred in the first quarter and how the company will achieve its lowered guidance.

Royal Dutch Shell PLC (NYSE: RDS) announced net income of $5.3 billion for the first quarter of 2019, a decrease of 2 percent from the same quarter last year, reflective of the crude oil market, but a significant improvement on the $4.5 billion expected by analysts.

TriumphPay is shifting the power over invoice control back into the hands of carriers.

Schneider National, Inc. announced first quarter 2019 earnings of $.21 per share, $0.06 per share lower than last year and $0.10 worse than the consensus estimate.