Business

Today, the long-awaited final results are in.

The investment bank issued a report this morning calling for one more spot rate peak in the fourth quarter, followed by a softer 2019 that should still be 12% above the 2012-7 cycle. New price targets were also issued.

Both new home sales and home starts showed some improvement in August, ending months of disappointing activity. Existing home sales failed to expand for the fifth straight month however, and housing in general remains a weak area for freight demand.

Iran’s truckers are on strike in 100 cities for the second time this year, causing fuel shortages. Meanwhile, the Iranian rial is rapidly losing its value, and the country’s biggest crude oil customers are cutting it off.

The report on online transportation platforms does not draw any conclusions about why it’s happening, but it has plenty of data to back up that it is occurring.

Readers of the printed newspaper are on a decline. It is essential that distribution companies that cater to this audience adapt to change, and optimize their logistics processes to increase profits.

How can something so small be such a big deal? For two very significant reasons.

Appropriation of $30 million will help streamline processes, increase visibility and improve risk assessment.

According to an open letter from Walmart to its leafy green suppliers, the company will forge ahead in blockchain development as part of the Food Trust as soon as early 2019.

Brent and WTI prices have reached 4 year highs, and the Brent-WTI spread continues to favor American oil exports on the international market. We explain how longer lateral lengths in Permian Basin horizontal wells are driving truckload demand.

The partnership will be a joint effort in discovering the next generation of connected car capabilities for businesses of any size.

Bernd Heid from McKinsey elaborated on the future of mobility, drawing instances of disruptions in the transportation industry and the need for adapting business models to market and regulatory requirements.

R2 Logistics, Inc., a customer-focused third-party logistics (3PL) service provider, is the latest member of the Blockchain in Transport Alliance (BiTA).

CB Insights says while there has been a drop-off in funding this year, supply chain innovation is becoming a greater concern for businesses around the world.

Nasdaq listed technology firm Ideanomics (NASDAQ:SSC) has formed a joint venture with APMEN Trade Tech Co Ltd., to streamline ports in the Asia Pacific by using blockchain and artificial intelligence in the Port of Shanghai, currently the world’s busiest port.

Maersk, MSC and CMA CGM are implementing fees they say will help cover costs to reduce sulphur emissions; the IMO announces it will not push back the deadline.

Icelandic cargo shipping firm names interim managing director of U.S. operations; American Association of State Highway and Transportation Officials taps next executive director.

The service can search shipments for drivers beforehand to help ensure their trips are consistently profitable. The service puts in the work so drivers don’t have to.

The Carrier Relationship Platform uses data to organize and automate a company’s processes with a unique approach: delivering targeting engagements to strengthen relationships.

The two Koreas consider historic trade agreements in the middle of ‘Autumn Eve’, their peak shipping season.

Three-judge panel could pave the way for the American Institute of International Steel’s appeal to go before the Supreme Court.

Leaders from state departments of transportation across the country participated in a panel discussion about connected and automated vehicles, and the winding road to their ubiquitous adoption.

In September 2017, IKEA Group was one of the first to join EV100—a global initiative created by The Climate Group—and now, a year later, IKEA Group has announced their commitment to moving toward zero emissions deliveries in 5 major cities by 2020.

The smartest minds on Wall Street use charting analytics to quickly identify and then track trends in multiple data sets. Why? Because it works. And now freight professionals are learning how to do the same. 

BiTA participated in the Singapore Week of Innovation and Technology (SWITCH) 2018.

ZF, the German automaker has released innovative trucks that can load and unload at the warehouse and last-mile electric delivery vans with level 4 autonomy.

We spoke to T Rowe Price VP Andrew Davis about how traditional investors’ view of the digital brokerage had changed over time.

Hyundai is working on mass producing hydrogen fuel cell powered heavy-duty electric trucks, which would make an entry into the Swiss commercial market between 2019 and 2023.

Britain’s largest ports operator looks to distributed ledger technology to ease cargo movements.

With ELDs in nearly every truck, it was only a matter of time before insurance companies started to utilize the devices. Progressive is among the first, launching a new discount program for truckers that provide Progressive access to their ELD data.

The Chicago based freight forwarder and 3PL announced that it has joined BiTA.

Ford Trucks unveiled its new F-MAX tractor, boasting a high-performance engine with 500 PS, 2500 Nm and 400 kW of braking power. The tractor also has 6% higher fuel optimization over previous models, and delivers lower cost of ownership with 7% reduced maintenance costs.

Commissioners prefer a commercial solution rather than a rulemaking to bring clarity for how and when these fees are assessed by ocean carriers and marine terminals.

Promotions come with new responsibilities and ways of doing business to best serve customers.

Public comment on proposed changes to regulations will be accepted until Oct. 10.

Financial services still the main industry testing blockchains as technology promises to ease transactions. cropping

Volvo Trucks enters the electromobility age with FE and FL Electric truck variants and Vera, a fully autonomous electric truck concept that could redefine transportation within logistics hubs.

What are the implications for independent owner-operators and the industry that employs them as a result of this week’s ruling in New Jersey?

FreightWaves CEO Craig Fuller, Chief Economist Ibrahiim Bayaan, and Senior Meteorologist Nick Austin discussed Hurricane Florence’s impact on freight, the general macroeconomic situation, and the upcoming IMO 2020 regulations on maritime fuel.

Artificial intelligence is a buzzword that has created a lot of hype in the transportation industry. But understanding the technology’s commercial utility is the need of the day.

Consumers are expecting brands to reduce unnecessary waste, source products responsibly, and use environmentally friendly transportation and logistics practices. Does this added pressure and complexity impact a company’s bottom line?

Able Freight Services, a leading global cold chain logistics provider with 25 years in business, today announced it has joined the Blockchain in Transportation Alliance (BiTA), an organization dedicated to determining best practices and standards for blockchain in the transportation industry.

Legislation takes aim at international traffickers of deadly opioids by systematically closing weaknesses in U.S. Postal Service system.

The agency plans to submit its recommendations at the Commercial Customs Operations Advisory Committee meeting on Oct. 3.

Duncan Hunter was ousted after he and his wife were indicted on charges of misusing campaign funds.

Connecticut Port Authority hires business development and special projects manager; British International Freight Association brings on an additional trainer.

Transportation services firm misses first quarter estimates as company accelerates pay raises and bonuses.

AirHelp was founded in 2013, and has helped more than seven million people worldwide to process airline compensation claims worth almost $930 million in total reimbursement.

We may have seen one of the most important legal decisions in the short life of cryptocurrencies. The precedent has been set that they can be regulated as securities.

Although the laws have been on the books for decades, violations — and penalties — still occur.

Freightos raised an additional $44.4 million in a third round of funding, led by the Singapore Exchange, as it seeks to expand into risk management tools for container shipping.

Individuals knowing of a reason why an applicant should not receive a license change should contact the Office of Transportation Intermediaries.

FMC reviews nine OTI license applications

Individuals knowing of any reason why an applicant should not receive an OTI license or amendment are urged to contact the FMC’s Office of Transportation Intermediaries.

Volvo Trucks has unveiled its concept autonomous electric vehicle that it believes could help create a more efficient and cleaner transportation network, while acting as a complement to existing solutions.

A tanker barge operator, a Jones Act steamship line, and North America’s largest 3PL all posted big gains on the day, leading Dow Transports to a record intraday high against a softening broader equities market.

FreightWaves spoke to GlobalTranz CEO Bob Farrell and AFN Logistics CEO Owen Schnaper about the deal.

Karma Delivers is looking to the future of social impact collaboration in the logistics space, where a natural market need exists for technology firms to empower NGO’s and nonprofits with software donation programs and access to education resources.

A pair of releases this morning show that retail spending and industrial output expanded in August, signaling that some key components of freight demand continue to grow at a healthy pace in the 3rd quarter.

Team Worldwide, a diversified global logistics provider that offers “best in class” logistics, freight forwarding, customs brokerage, truck transportation and other solutions for its customers around the globe, has joined the Blockchain in Transport Alliance (BiTA).

Data from LinkedIn’s monthly workforce report shows that hiring in the transportation and logistics sector has continued at a strong pace throughout the last year. While this reinforces much of what has been reported through government statistics, LinkedIn is able to leverage its unique social media data to discover new trends about labor markets in the economy.

The bill supports the U.S. Army Corps of Engineers’ navigation program and Harbor Maintenance Tax-funded work.

House subcommittee conducts hearing on “one of the most complex safety mandates ever undertaken by the railroad industry.”

Railroad makes leadership moves; 3PL opens and staffs Tennessee office.

Beyond the Hours of Service rule that is under consideration for changes by the federal government, the introduction of the hard ELD rule has created several other less-publicized problems.

Getting participants to join the supply chain is “the number one challenge by far,” says Piscini. “We’ve created the platform to incentivize players across the industry.”

Export license restrictions could be tightened if election interference is uncovered.

Is CMA CGM’s decision to lower Asia-Europe freight rates the first domino to fall in a new race to the bottom?

Trucking association sought to take one tool from state regulators for classifying drivers as contractors or full-time employees.

Goldman Sachs issued a report last week highlighting the risks to incumbent brokerages’ margins and market shares, with useful information about the brokerage landscape and recent developments in VC funding that have powered new entrants.

RTS is injecting technology into the archaic garbage industry processes, helping bring visibility and transparency into waste disposal and recycling.

“You have to have the human touch. It’s not robots. How do we take data and take the digital world and do something meaningful with it, do something human with it,” says Keith Mader, VP of analytics.

Data on producer prices shows that overall inflation pressure eased further in the 3rd quarter, declining for the first time in 18 months.  Trucking prices also calmed during the month, as big declines in long-distance trucking and LTL rates offset rising rates among local carriers.

The improved efficiencies aimed at dispatchers and billing departments, should prove a boon for drivers too, and therefore is another shot at increased driver retention.

The North Carolina and South Carolina port authorities will close their marine terminals to truck and vessel traffic Thursday and Friday.

More input should be added to the mix before legislation is fully cooked.

Ripe.io provides enterprise blockchain technology for the food and agriculture industry in an effort to create greater trust and transparency between food producers, contributors and consumers.

U.S. job openings rose in July to a new record, adding to signs of labor-market tightness that may push wages higher. Within the transportation and logistics sector, openings continue to outpace hiring as businesses are finding considerable difficulty trying to fill positions.

Acting chairman asserts proposed rule is designed to “get us back into the navigation channel of longstanding precedent.”

Freight Management Inc. (FMI), a certified veteran-owned and family-run technology- leveraged third-party logistics (3PL) provider, recently became a member of the Blockchain in Transport Alliance (BiTA).

American Logistics Aid Network launches web page providing updates on transportation and supply chain conditions in impacted areas.

Shippers can leverage operational metrics from the mandatory devices, says Descartes Systems Group.

Robust demand growth has carriers scrambling to get enough trucks on the road, according to FTR Transportation Intelligence.

Freight forwarding giant needed easy way to transmit container weight data.

One year after the U.S. House of Representatives passed the bipartisan SELF DRIVE Act, House Energy and Commerce Committee leaders called on the Senate to advance automated vehicle legislation.

Probably to no great surprise to attendees in the room, American Trucking Associations’ Chief Economist Bob Costello painted a very positive picture of the current and near-term freight environment during the ATA’s 2nd Annual Economic Summit last week in Washington, DC.

Container carriers have tried integrating ocean and overland transportation before; it may have a better chance to catch on now thanks to supply chain technology advances.

Container throughput at the Southern California port slid another 1.9 percent year-over-year in August after falling 4.4 percent in July.

While many in the brick-and-mortar retail businesses applaud the decision as an effort to even the playing field between online and traditional retail, others are concerned with the negative effects the decision is sure to have on small online businesses.

Union representing 14,500 employees says new deal aims to bring stability and peace to US docks.

“It’s not just about cars and satellites and cereal,” says CEO Lou Rassey. “It’s about feeding and empowering the world with the things we make. That’s the heart of Fast Radius.”

Job growth continued its remarkable pace in August, and data on hourly earnings show that wage growth is advancing at the fastest pace in over nine years. Strength in the overall labor market continues to spill into the trucking industry, which added jobs for the 11th time in 12 months.

Delta bought a refinery to hedge its exposure to the jet fuel market, and now it wants some partners to help share the burden of other fuels.

Which jobs in the trucking industry are most at risk to autonomous trucking, and what can we do to prepare?

The U.S. Department of Transportation’s Check the Box campaign aims to educate package shippers about the risks and responsibilities with hazardous materials.

DeLaney elected to board of directors, Rea joins executive group, Hernandez promoted and Herrera hired.

Ocean carriers and terminals have seen a boom in the fees they charge for container usage. But U.S. regulators are looking at the practice.

The United States Court of Appeals for the Sixth District sided with a truck manufacturer in a products-liability case claiming an alternative truck design would have prevented serious injuries obtained when a 19-year-old women crashed into the side of the vehicle.

The Tax Cuts and Jobs Act offers owner-operators more savings.

One of the more powerful potentials of blockchain’s transparency and efficiency is through what consumers think of as returns, and industry participants refer to as reverse logistics.