Business

Expedited delivery provider Priority Courier Experts received a strategic investment from private equity firm Trident.

Bulk hauler Trimac said Wednesday it acquired Doyle Sims & Sons Trucking.

The latest FreightWaves SONAR release gives users the ability to customize outputs based on rate per mile versus flat rates and to quickly retrieve 90-day moving averages for contract rates.

Ken’s Foods was chosen as a Shipper of Choice — an award that recognizes retailers and distributors that value their carrier relationships.

Large carriers finally started shedding capacity this summer.

DJI this week unveiled FlyCart 30, its first delivery drone. Here’s what you need to know.

Toronto Pearson airport plans to replace an office park with a cargo facility with funding from the Canadian government, which is also helping an Inuit-owned airline move more cargo.

“Optym HaulPlan has enabled us to plan more efficiently and make adjustments to lanes quicker,” said Estes President and COO Webb Estes.

H.I.G. Capital announced it has entered an agreement to acquire expedited air and ground logistics provider Ascent Global Logistics.

Freight booking platform Freightos is working to reduce its cash burn as it continues to grow and add new products.

Tai has been working on email improvements utilizing AI and machine learning for over three years now. . Most recently, the company introduced a new email feature – helping brokers write emails.

Forward’s plan to acquire a large forwarder has stakeholders concerned.

A federal grand jury has indicted a former employee of a North Carolina-based trucking company, alleging she defrauded her employer of more than $900,000.

Werner has filed an appeal to Texas’ highest court of a verdict that now has a more than $100 million price tag.

Shippers are exploring new technologies to mitigate rising costs and hit sustainability goals, but to maximize results they need to have a rock-solid foundation of data and a streamlined dimensioning process.

It’s important to have access to full end-to-end visibility across all parts of the supply chain.

The air cargo sector was banking on a turnaround in market conditions by this fall, but it might have to wait until late next year unless demand unexpectedly revives.

Carey Mendes, a former oil executive leading’s Nikola’s pursuit of a hydrogen distribution network, has resigned.

A court filing shows that Old Dominion swooped in at the last minute, entering a base bid of $1.5 billion for now-defunct Yellow’s terminals.

U.S. Postal Service contractor Matheson Flight Extenders (MFE), which operates 44 mail sorting and terminal handling services across the country, filed paperwork this week stating that it plans to cut more than 660 jobs at two of its facilities in Atlanta and in Brandywine, Maryland, by Oct. 15.

Proterra customers are sanguine about the electric bus and battery maker’s bankruptcy reorganization. They expect deliveries to continue.

This month’s State of Freight webinar focused on robust volumes in July and rejection rates that aren’t budging.

Yellow Corp. told a judge Thursday that it has selected bankruptcy financing lenders and that Estes Express Lines has entered a $1.3 billion stalking horse bid for its terminals.

Veteran business leader Steve Girsky acknowledges challenges but points to Q4 as the culmination of fuel cell truck startup Nikola’s efforts.

Walmart posted revenue gains of 5.7% in its fiscal 2024 second quarter, paced by a 6.4% gain in U.S. same-store sales.

Lean Solutions Group’s workforce analytics services let an organization know if what it is doing is driving a better experience and greater efficiency for improved customer relationships and lower costs.

The supply chain must be nimble to adapt to changing consumer and economic demands.

Zim lost $213 million in the second quarter. Will rising trans-Pacific spot rates help it reverse course in the third?

The TruckParkingClub.com application now provides real-time reservable parking sites at 143 rest stops and 120 premium locations for overnight, multi-night and up to monthly stays.

Ditat is planning to roll out its new user interface, which will improve the overall appearance of its TMS, making it more mobile-friendly.

The current valley in airfreight demand hasn’t spooked Air Transport Services Group, which continues to invest in freighter aircraft for its leasing and airline businesses.

Apollo Global Management sold a $485 million loan to Yellow Corp. and has withdrawn its proposal for bankruptcy financing.

Less-than-truckload carrier Saia sees freight surge in the first two weeks of August.

Five new indictments have been handed down by the U.S. attorney in the New Orleans-area scam to stage collisions with trucks and collect insurance dollars.

Werner Enterprises’ CEO said Tuesday that the worst of the cycle is in the rearview and that he will remember which shippers stood by the company during the recent freight recession.

More than 200 transportation and logistics companies have made the 2023 Inc. 5000 list of the fastest-growing privately held firms in the U.S.

Lightning eMotors has enough parts to build electric vehicles through the end of the year, but it needs new capital soon to stay in business.

FreightWaves, the world’s leading provider of freight market forecasting, data, news and analysis, has made the annual Inc. 5000 list of the fastest-growing private companies in America.

Daimler Truck CEO Martin Daum will add the role of CFO while the Supervisory Board searches for a permanent replacement for Jochen Goetz.

Cargojet trimmed its express flying in Canada, but lower fuel costs and other cost measures made for a relatively healthy bottom line last quarter under weak market conditions.

“Almost all breaches end in a lawsuit. On average, those lawsuits are upwards of $10 million per company just to get back on your feet,” said the NMFTA’s Antwan Banks.

“I believe what we basically had in the supply chain was a reset, an unfortunate reset, due to the overstocking. I think, in all areas, we’re kind of close to the end of that,” said John Vaccaro, PalletTrader CEO and founder.

The inevitable dilution from a recent increase in authorized shares has led former and current Nikola executives to sell.

Looming rail car retirements and high rates for rail car scrapping — not rail volumes — are driving the rail car market, according to the CEOs of rail car leasing companies and rail equipment manufacturers.

Second-quarter cargo revenue at Air Canada fell 24% — not so bad in the context of global market conditions.

An attorney for Yellow Corp. said Friday he’s hopeful to have in place by early next week a bankruptcy financing deal superior to what the company was previously offered.

Looking ahead, Taiwanese ocean carrier Yang Ming said that “the overall momentum for economic recovery over the next two years still appears relatively weak.”

Two Genesee & Wyoming subsidiaries are seeking a permit from the Federal Railroad Administration to conduct a pilot project that would involve deploying Parallel Systems’ autonomous rail vehicle technology on limited portions of their networks in Georgia.

Moves similar to blackjack tactics describe how cash-poor transportation startups are grasping for new capital.

Ocean carrier HMM attributed much of its first-half net-profit nosedive of 90% to overcapacity in the container shipping industry.

Forward Air announced Thursday it will merge with asset-light logistics peer Omni Logistics.

“Weaker demand and lower freight rates are having a very noticeable impact on our earnings,” said Hapag-Lloyd CEO Rolf Habben Jansen.

“Leadership has got to make sure they have the right information, as well as the right driver at the right time for the right reason,” said Lytx’s Jeff Martin.

While AI technologies have the potential to transform the shipping and logistics industries, their success takes careful and strategic planning.

In the post-pandemic pivot from just-in-case to just-in-time manufacturing, digital freight network Convoy has launched a service to help shippers and carriers manage risk.

Electric bus and battery maker Proterra Inc. won’t fight an Aug. 17 delisting from the Nasdaq as it works on a bankruptcy reorganization plan.

Cathay Pacific is rebuilding its passenger network after a three-year pandemic freeze, and the network effect is greatly benefiting the freighter operation.

Hyliion Holdings has enough cash and investments to run its business through 2024 without raising new capital.

Yellow Corp. released second-quarter financials Wednesday following a bankruptcy petition earlier in the week.

The U.S. Postal Service’s non-GAAP loss nearly doubled year over year, while shipping volume was down slightly and revenue was flat.

Lowe’s has been changing the way it deploys trucks to deliver goods and has garnered a spot on FreightWaves’ annual list honoring shippers.

Atlanta-based FleetCor Technologies reported fuel transaction revenue of $399 million in the second quarter, a 6% year-over-year increase.

Less-than-truckload carrier CrossCountry Freight Solutions announced Tuesday it has closed on the acquisition of Express 2000 Transportation.

Freighter operator Western Global got in financial trouble when the overheated air cargo market cooled off last year and nearly shut down this summer before getting a financial lifeline from creditors and filing for bankruptcy.

About 1 million daily packages were diverted from UPS and 200,000 more did not enter the system due to lost sales.

Hyzon Motors is willing to consider selling itself or merging to keep making progress on its fuel cell system.

Expeditors had a second-quarter financial performance that might be expected from a company active in the air and ocean freight markets.

Workhorse Group claims business progress, but it needs approval for new shares to raise capital to make electric trucks and drones.

UPS’ full-year guidance change reflects the volume and cost impact from labor negotiations with the Teamsters.

Cash-strapped electric bus and battery maker Proterra Inc. sought bankruptcy protection Monday and plans to operate during reorganization.

Investors in Danaos thought they were buying a container shipping stock. Now they’re invested in dry bulk, too.

Rate deals and spikes don’t last forever, and smart industry players know caring for the partners who will sustain them when the market inevitably shifts is mission-critical.

The quarterly earnings report from Berkshire Hathaway was the first with a full set of financial numbers from Pilot.

Second-quarter freight volumes fell 11% across BNSF’s segments for consumer, agricultural and industrial products and coal.

Western Global Airlines, struggling under a heavy debt load and weak market conditions, has filed for Chapter 11 bankruptcy protection in a Delaware court.

FedEx Corp. has laid off more than 900 workers at facilities across the country since June.

“…at FreightVerify, it is a distinct honor to play a role in the industry’s transformation,” said FreightVerify’s Greg Nelson.

Asset sales in Q2 helped Nikola add cash to its balance sheet, but losses widened as ramp-up of fuel cell trucks consumed cash.

Sun Country Airlines had a strong quarter for cargo thanks to growth in its Amazon business.

Less-than-truckload carrier XPO said it would add capacity to meet the increased demand created by Yellow’s departure.

“Part of what worries us about trucks, in particular, is that the truck vehicle networks weren’t really designed to be put on the internet,” said NMFTA’s Ben Gardiner.

Steve Girsky, the man responsible for bringing Nikola public three years ago, is taking over as CEO — the third chief executive in a year.

Less-than-truckload carrier XPO saw shipments and tonnage surge in July as a competitor shut down.

Despite upgrading its full-year outlook, container shipping giant Maersk no longer sees a second-half demand rebound.

Could Kodiak leverage some of the work Navistar has in on a redundant chassis for a Class 8 autonomous truck?

Texas-based flatbed carrier Daseke does not expect to see improvement in the freight market the rest of the year.

Werner Enterprises reported an earnings miss for the second quarter on Thursday after the market closed.

Supply chain technology provider Trimble posts impressive Q2 results and says truck spot rates may have “bottomed out.”

Amazon’s earnings per share of 65 cents nearly doubled consensus estimates.

Kodif’s founding team showcases experience, resulting in the development of a technical product that empowers even those lacking technical proficiency to effectively utilize it.

The day after CEO Dave Bozeman’s first call with analysts, they weighed in on the company’s outlook.

Multimodal provider Schneider National reeled in its 2023 earnings outlook by roughly 13% on Thursday.

GXO Logistics is one of few companies to better its 2023 estimates and raise its guidance.

Lufthansa Cargo last year was able to avoid much of the fallout from the shrinking freight market, but the bottom line is feeling the negative effects in 2023.

Less-than-truckload provider Forward Air missed second-quarter earnings expectations but management noted it’s seeing a lift from Yellow’s shutdown.

Cummins posted higher second-quarter sales and income thanks to its acquisition of Meritor, but EBITDA declined.

New C.H. Robinson CEO Dave Bozeman waxed philosophical on his first earnings call with analysts.

Murray Droescher has been tapped to lead refrigerated freight company TransAm Trucking.

Asian demand for propane continues to build, as does US supply, equating to booming business for LPG tanker owners in the middle.

GXO’s full-year EPS guidance was raised by 5 cents, while adjusted EBITDA was increased by $10 million.