Cargo volumes are holding up, but rising transport capacity is outpacing demand, pushing container shipping rates even lower.
Air Transport Services Group is slowing investment in converted freighters as a weak shipping market leads cargo airlines to pause fleet expansion.
Greater speed is a highlight of the new interface for FreightWaves SONAR introduced at the F3: Future of Freight Festival in Chattanooga.
Hyliion Holdings is throwing in the towel on its Hypertruck ERX natural gas-electric powertrain to focus on generator technology.
High numbers of migrant crossings in September disrupted freight rail operations, including Trinity Industries’ and FreightCar America’s ability to send new rail cars into the U.S., executives said on recent earnings calls.
FreightWaves showcases SONAR flatbed data at the F3: Future of Freight Festival.
A weaker-than-expected peak period leads GXO to cut its organic revenue growth guidance.
Venture capitalists have plenty of dry powder but they’re being choosier.
More than a dozen logistics firms have been recognized among North America’s fastest-growing companies.
Revenue and earnings fell sharply at DHL’s Express and Global Forwarding units.
Chattanooga, Tennessee-based FreightWaves has been named to Deloitte’s Technology Fast 500 list.
FreightWaves’ Innovation Alley at the Future of Freight Festival featured a demo by customer support automation platform Kodif.
Trucking technology company ConMet has acquired Truck Labs, whose aerodynamic TruckWings save 3%-6% on a fleet’s fuel bill.
FreightWaves CEO Craig Fuller sees bad signs from banks — and trouble ahead for brokers — as he looks to the first quarter of next year.
Meadow Lark Agency and its affiliate, Meadow Lark Transport, filed for bankruptcy liquidation Monday, owing around 120 former employees almost $800,000 and nearly 1,300 trucking companies about $2.7 million.
DSI Assignments, which is overseeing the auction, is seeking a buyer for all of Slync’s platform assets.
In a tough quarter, Uber Freight showed small signs of improvement in both EBITDA and revenue.
Daimler Truck reported lower deliveries in Q3, a contrast to its major competitors who reported higher sales but warned of a coming slowdown.
Truck brokerage RXO beat third-quarter estimates Tuesday and said it will continue to expand its platform and take market share on the downside of the cycle.
Air Transport Services Group’s underperformance cost CEO Rich Corrado his job on Monday.
UPS has bought out a small contingent of senior pilots. An American Airlines regional partner is trying to attract them to fly small jets.
Shippers have rebounded in Q4 2023 to once again be the most positive segment. Carriers and brokers have lost some of the steam that led to relative optimism in Q3.
An online auction is slated for Tuesday to sell the assets of Minnesota-based Twin Express Inc., which had more than 70 power units, after the trucking company defaulted on a $19 million loan.
EFW said Monday it has closed on the acquisition of Superior Brokerage Services, which doubles its revenue and warehousing capacity.
A 13% decline in total revenues dented BNSF’s net profit for the third quarter.
A white paper by factoring company OTR Solutions highlights risks it sees from the combination of 3PL bankruptcies and asset-based lending.
FreightWaves is hosting its biggest event yet, F3: Future of Freight Festival, Nov. 7-9, packed with world-renowned speakers, educational sessions, music and more.
Trucking bloodbath expands to lenders as industry experiences one of the sharpest downturns in history.
Approximately 65 employees for Pittsburgh-based Elite Transit Solutions were laid off via Microsoft Teams on Friday. This is the second round of job cuts the freight brokerage has experienced over the past month; about 20 employees were let go on Oct. 20 because of the “current economic situation,” according to sources familiar with the layoffs.
Innovation in freight goes beyond technology. While many major FreightTech companies have gone bankrupt, it does not mean that innovation is lacking or that every tech company is doomed to fail.
Who is leading, following, emerging or out of the game in autonomous trucking? Here’s an assessment of shifts among the players.
The family who founded Pilot Travel Centers and sold 80% of it to Berkshire Hathaway has filed suit over valuing the final 20%.
“This is not a diet. This is a resetting of the baseline,” said Maersk CEO Vincent Clerc on his company’s job cuts.
Trucks are featured heavily in projects reaping $653 million worth of port infrastructure grants announced Friday by the Biden administration.
Lufthansa Cargo didn’t make a profit in the third quarter as revenues fell more than 40% from last year.
Schneider National missed third-quarter estimates Thursday and cut its outlook for the year by more than 20%.
Nikola’s recall cost burden and lack of production lead to a dismal Q3 earnings report but the company sees light ahead.
CRST is making its first acquisition since 2020 by buying BCB Transport.
After the Great Shopping Spree of 2021, tens of thousands of truck companies will have to shut down to restabilize the industry.
Cummins Inc. reported higher profits and sales in the third quarter as it generated record working cash but foresees Q4 pullback.
Werner Enterprises reported a worse-than-expected result for the third quarter as margins in both its trucking and logistics segments deteriorated from the second quarter.
3PL C.H. Robinson had a weak third quarter, as expected, but the late trading in its stock liked what it heard.
Flexport’s acquisition comes weeks after the venture-funded trucking startup closed down. Convoy has some 400,000 truck drivers in its network.
Aurora Innovation opened its Interstate 45 autonomous trucking route between Dallas and Houston as unease and criticism grow.
Supply chain technology provider Trimble posted impressive Q3 results but said transportation revenue could slow down in the next quarter.
As large e-commerce businesses have raised consumer expectations, midsize and smaller logistics companies must keep up and provide the same on-time delivery, visibility and experience. When something goes wrong — and it often does — they must figure out how to adjust quickly by leveraging data from their supply chain.
As the industry recovers, keeping a “do more with less” mindset can enhance a company’s growth and help it prepare for the next downturn.
Southwire’s strategic road map focused on FreightTech, strategic partnerships, RFPs, carrier scorecards and freight analytics.
Profits being reported by container shipping lines are down from the stratosphere but many still surpass pre-COVID returns.
Forward Air will primarily focus on less-than-truckload opportunities moving forward as it tries to exit a burdensome merger agreement.
Voltera is removing obstacles to electrification for fleets by reducing the risks of developing and operating charging sites.
FreightWaves’ F3: Future of Freight Festival is next week. Here are some of the companies that will be coming.
Greenscreens.ai’s Matthew Silver said with Capacity On Tap, “brokers get all their capacity sources in a single pane of glass without having to reenter data.”
Air Canada said it is taking a slower approach to adding cargo jets because there isn’t enough demand now to justify the investment.
Electric trucks are expensive, so Mack Trucks figures avoiders might go for a monthly subscription fee and pay by the mile.
Forward Air said it would accelerate a strategic review of its assets after missing third-quarter consensus and providing a weaker-than-expected fourth-quarter outlook.
Third-quarter earnings reports show how Yellow Corp.’s market share was redistributed across the less-than-truckload industry.
Tough freight market hits Echo’s debt ratings, down a notch at S&P.
XPO said Monday it plans to increase capital spending to respond to a tightening capacity dynamic following Yellow’s closure.
Car hauler Jack Cooper Transport has been rumored to be behind a bid for Yellow Corp. just four years removed from its own bankruptcy.
XPO reported a third-quarter-earnings beat on Monday as fallout from a competitor’s closure overshadowed a soft macroeconomic environment.
Hawaiian Airlines is finally on its way to positive cash flow from its new Amazon Air contract after spending money to launch freighter operations.
ArcBest’s less-than-truckload operation saw a meaningful step up in profitability in the third quarter as it remains selective on market share opportunities.
Saia posted across-the-board gains but its operating ratio worsened as it absorbed higher-than-expected costs.
Universal Logistics Holdings released its third-quarter financial results on Friday, reporting year-over-year decreases in its trucking, intermodal and brokerage segments.
In a conversation with American Shipper, CarGurus’ director of industry insights and analytics shows that some model inventories will be impacted by the strike and some will be fine.
Echo Global Logistics leverages a variety of intelligence capabilities to provide shippers and carriers with solutions that meet them where they are in their technology adoption journeys.
After 12 years at the helm of the freight brokerages he founded and bootstrapped in 2011 — SEL Supply Chain Solutions (SELSCS) of Fort Worth, Texas — CEO Dennis Martin says he is winding down operations.
Flexport would hire a small team of Convoy employees and take on its technology stack. That could keep the trucking startup’s app functioning for customers.
A review of the state of SPAC-sponsored and other electrification startup shows a less-than-pretty picture.
The Greenbrier Companies, GATX and Wabtec all reported quarterly earnings this week. Among the themes expressed during earnings calls was pervading market uncertainty domestically but an abundance of international opportunities.
ArcBest reports a third-quarter earnings beat when adjusting for several one-off items.
Find out who the unsung FreightTech disrupters are and how they provide unique tools to help shippers.
Hub Group reported $1 billion in revenue and earnings per share of 97 cents during the third quarter.
Link Logistics added 24 million square feet of space during the third quarter while holding occupancy level.
Amazon’s EPS handily beat estimates, while operating and net income posted four- and three-bagger gains.
Heartland Express books a third-quarter net loss and makes changes to cull unprofitable accounts.
Truckload carrier Covenant Logistics Group said the freight market is bottoming out, and the company is eyeing only a “modest decline” in earnings next quarter.
Shippers and logistics service providers want and need to proactively manage their customers’ shipments, ensuring they keep cadence in line with delivery expectations. When something goes wrong in transit, this demands quick, timely notification from carriers so they can proactively reset expectations or enact contingency plans.
UPS’ third-quarter results reflect struggles with macro weakness, volume diversions and higher labor costs.
Forward Air may decide to terminate its merger agreement with Omni Logistics even though a Tennessee court said it won’t stand in its way.
Uncertainties over consumer demand and inflation rates are causing Canadian Pacific Kansas City to adopt a more cautious stance as 2024 approaches.
A former senior executive at Polar Air Cargo pleaded guilty to corporate corruption and agreed to pay restitution of $9.3 million in addition to serving a potential jail sentence.
The ultra-buzzy trucking startup Convoy could have fixed trucking. Instead, it shut down suddenly to the shock of industry insiders.
Chattanooga, Tennessee-based Covenant Logistics Group’s third-quarter revenue declined 7% year over year to $288.7 million.
Inflation, higher cargo volumes and diesel prices fueled a spike in congestion costs for trucking companies, according to new data from ATRI.
Freight broker Landstar System told analysts on a Thursday call that it expects the current freight downturn to last eight quarters, not six as previously hoped.
CPKC reported a 12% decline in net profit in the third quarter despite higher combined revenues.
Rush Enterprises experienced softer Class 8 aftermarket revenue at its dealership network, but it had other business to replace it in Q3.
Truck leasing giant Ryder posted total revenue of $2.9 billion and earnings per share of $3.58 during the third quarter.
This is CargoX’s second sizable partnership aimed at bringing more efficient import and export practices to global markets.
Old Dominion sees a 6% uptick in shipments following Yellow’s closure but says the industry’s freight reshuffle hasn’t been permanently settled.
Wabash’s reorganization is continuing to pay off as service revenue rises as trailer sales fall amid improved profits.
Short-term pain will lead to long-term gain for Norfolk Southern, the railway’s CEO said when asked about his company’s higher margins amid plans to continue improvements to rail service.
Consistent with its rivals, Traton sees orders slowing but strong deliveries across its brands including Navistar.
Convoy Inc. has found a buyer for its tech stack, which would include the digital freight company’s driver app and automated freight matching and pricing engines.
A company can “go through all your tests, due diligence, cyber resilience and everything, but if you don’t know what to do when something happens, then all bets are off,” IT exec Steve Hankel said during the Digital Solutions Conference.
NS’ third-quarter net income fell 50% amid a $163 million incident charge related to the East Palestine, Ohio, train derailment in February.
Old Dominion Freight Line reported better-than-expected third-quarter results as Yellow’s departure provided a tailwind.
Partnerships with other Class I railroads will help the freight rail industry gain market share, CN executives said during the Canadian railway’s third-quarter 2023 earnings call Tuesday.
