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.
RXO was flat between the first and second quarters, and that proved to be a turnoff for investors in the 3PL.
“The discussion of reducing the de minimis back to the $200 threshold could impact e-commerce retailers with high-value products by increasing costs,” said BoxC Logistics co-founder Chad Schofield.
Korean Air is the latest Asian airline to announce outsize declines in cargo revenue for the latest quarter.
“In an era where financial empowerment can impact the success of companies and the livelihood of small business owners, we’re making sure the trucking community can take advantage,” says OTR CEO Fritz Owens.
An NLRB action is being viewed by the Teamsters as providing an incentive for companies to consider independent contractors as employees.
Shipping lines are seeing higher cargo volumes and successfully integrating newly built vessels into their fleets, says Textainer’s CEO.
Schneider National announced it has acquired Massachusetts-based M&M Transport Services.
Less-than-truckload carrier Yellow Corp. is reported to be close to a deal with one of its current lenders to obtain debtor-in-possession financing to facilitate a bankruptcy.
Like other trucking OEMs, Daimler Truck rode higher prices to solid second-quarter results while incoming orders fell.
DHL Group forecasts $7.7 billion in earnings before interest and taxes should a recovery take hold early in the second half.
Yellow’s demise is a “huge benefit for our industry,” TFI International CEO Bedard says.
Uber Freight’s negative EBITDA was improved from the first quarter, but revenue has declined steadily for more than a year.
“The establishment of a Silicon Valley-based technology lab is a natural evolution for Ryder,” says Ryder’s CMO.
Volume declines ate into TFI International’s revenue in the second quarter.
Western Global Airlines could be on the verge of Chapter 11 bankruptcy.
“It is extremely difficult to announce a reasonable business forecast at this time,” said ONE, citing container shipping market uncertainties.
Truckload carrier Heartland Express reported worse-than-expected second-quarter results on Monday.
J.B. Hunt Transport is helping Nikola reduce its inventory of battery-electric trucks and adding to the order bank for fuel cell models.
Less-than-truckload carrier Yellow Corp. closed the gates Sunday and ceased all operations.
Transportation spend optimization is a shipper’s secret weapon to transform its spend management process, improve inefficiencies, and reduce complexities and operational risk.
Canada-based transportation provider Titanium Transportation announced Monday the acquisition of Georgia-based truckload carrier Crane Transport.
The Teamsters union said late Sunday it received a legal notice that Yellow Corp. will be filing bankruptcy.
Less-than-truckload carrier Yellow Corp. closed its gates at 12 p.m. Sunday.
Because container liner profits plummeted off an extraordinarily high peak, some carriers are still posting hefty profits despite huge declines.
CPKC eyes opportunities for intermodal and for beefed-up business in Mexico to help recoup higher costs and lost revenue in the second quarter.
All Nippon Airways underperformed competitors by a wide margin in cargo during the last quarter as it prepares to invest in growing the cargo business.
On an earnings call with analysts, Saia’s CEO and CFO tried to address the pending collapse of Yellow without mentioning the company’s name.
Universal Logistics reported revenue of $413 million and earnings per share of 90 cents during the second quarter.
Investor confidence coincidentally clashes with an executive’s stock sales at autonomous trucking developer.
The latest data from WarehouseQuote indicates retailers have ho-hum expectations for the holiday season.
Saia’s second-quarter earnings show a decline in volume but by a relatively small amount.
ArcBest reported an earnings miss Friday but that may not matter as its less-than-truckload unit is quickly taking on volume as a competitor winds down.
After experiencing two years of record growth during the COVID-19 pandemic, Jacksonville, Florida-based Surge Transportation, a digital freight brokerage, sought to find a buyer and slashed its rates nearly a year before it filed for Chapter 11 bankruptcy protection on Monday.
Hub Group reported $1 billion in revenue and earnings per share $1.44 during the second quarter.
CPKC released second-quarter earnings results as a merged company.
NS is seeking to improve network fluidity after the East Palestine train derailment, cut down on Ohio-related costs and match resources with market demand in the second half of 2023.
Navistar saw a big drop in orders, but deliveries of new International trucks helped parent Traton to strong second-quarter results.
Even truckload companies are being asked how a Yellow collapse might benefit them; Covenant had an answer on its second-quarter earnings call.
Rush Enterprises posted strong Q2 sales and profits, relying on its parts and services business amid trucking headwinds.
Truck broker Landstar issued worse-than-expected third-quarter guidance Thursday and said most metrics are still underperforming normal seasonal trends.
Revenue declines and a $416 million expense charge put pressure on Norfolk Southern’s second-quarter 2023 net profits.
Two of the top three global logistics powers took a big profit haircut during the second quarter and aren’t very optimistic about a seasonal upturn in shipping.
The Department of Transportation’s “supercharged” Freight Office will be tasked with overseeing and coordinating competitive grants and how they fit into a national freight strategy.
New sick leave agreements and other deals will increase Union Pacific’s labor costs. Investors on UP’s second-quarter 2023 earnings call wanted to know by how much.
The future of Waymo Via had been whispered about for months after parent Alphabet Inc. cut thousands of jobs across the company earlier this year.
A number of consumer-facing companies have pointed to intensifying spending weakness during Q2 earnings season.
Covenant Logistics’ second-quarter earnings reflected, as expected, a weaker truckload market.
Molson Coors strives for flexibility and readiness in its supply chain, which is why the Chicago-based company garnered a spot on FreightWaves’ annual list honoring shippers.
Ryder’s second-quarter performance was mixed, but it forecast a much stronger second half, sending the stock climbing.
Consumer demand is putting pressure on intermodal and lumber volumes and that is weighing on how CN views the back half of this year.
Old Dominion reported what will likely be best-in-class results for the second quarter and said recent turmoil at competitor Yellow Corp. hasn’t altered its strategy any.
Former Union Pacific and CN executive Jim Vena will be UP’s next CEO, while sustainability and strategy EVP Beth Whited has been promoted to president.
Wabash reported record Q2 earnings because it was able to price its trailers and truck bodies higher than the cost of materials.
Hawaiian Airlines is starting an in-house cargo airline that will fly dedicated routes for Amazon Air starting this fall.
The waiver the EPA granted to California to allow its Clean Trucks rule to proceed has states lined up in court on either side of the issue.
The Canadian wildfires and lower volumes for intermodal and crude oil put pressure on Canadian railway CN’s revenue for the second quarter of 2023.
After experiencing record sales growth during the COVID-19 pandemic, digital freight brokerage Surge Transportation says it was forced to file for bankruptcy protection as it was unprepared for the abrupt decline in product demand and soaring shipping costs that rocked the transportation industry in April 2022.
PS Logistics said Tuesday it has acquired Jacksonville, Florida-based truckload carrier and broker Rinaudo Enterprises.
What’s behind Paccar’s stunning Q2 profits? Inflation is part of the answer. So is a burgeoning parts footprint.
Surge is the largest broker to restructure in recent memory.
Paccar continued a string of record quarterly performances in Q2, posting a 70% gain in profits and a 24% increase in sales.
Electrification isn’t possible without infrastructure to support it. Voltera is transforming the transportation industry by helping fleets access EV charging infrastructure.
Merchants can use FlowspaceAI for Freight, particularly its Network Optimization tool, to support a range of services, enhancing fulfillment operations and providing valuable insights for marketing and sales strategies.
For the first time since freight sentiment index inception, shippers are the least positive group. Does that mean the market is balancing?
Internet-connected devices commonly used in the trucking industry can pose security risks, providing hackers entry points to access sensitive information within your organization.
Los Angeles International Airport has partnered with former NBA superstar “Magic” Johnson and others on planning a wholesale redevelopment of its extensive cargo facilities.
The U.S. Chamber of Commerce is recommending a long list of fixes to the problem of large verdicts in truck accident litigation.
The 3rd-largest North American containerboard and box producer, Packaging Corp. of America, reported an eye-opening 10% box shipment decline.
Logistics real estate operator Link Logistics upgrades its portfolio in the second quarter, booking a 52% increase in leasing spreads.
Stock analysts size up less-than-truckload market dynamics following weeks of turmoil at carrier Yellow Corp.
Other charging infrastructure startups have more resources but WattEV has an early advantage in making charging available.
Expectations for peak season have waned, but container lines may have bounced off the bottom.
Seeking clues in TuSimple’s delayed financials; a case for an autonomous trucking slowdown; and Kodiak Robotics’ dual-use approach to autonomy.
TriumphPay dealt with the same weak conditions as other trucking-focused companies in the second quarter, but one key measure was stronger.
Figuring out how to encourage more shippers to switch from truck to rail is not something that can be done overnight, executives said during CSX’s second-quarter 2023 earnings call.
Knight-Swift Transportation called out several headwinds facing its businesses as reasons to meaningfully lower its 2023 earnings guidance.
Volume and pricing gains for CSX’s merchandise segment weren’t enough to offset a decline in intermodal volumes and falling export coal benchmark prices, CSX said.
Capital markets that have been freezing out mobility startups may be thawing with Aurora Innovation raising $820 million in new funding.
Fluid Truck Renew helps commercial fleets lease out parked equipment and offers a simple way for new fleets to enter the market.
LTL contract rates and tender rejections in select markets will tell us if transportation networks can handle a sudden Yellow exit.
Pam Transportation Services reported a sharp decline in earnings during the second quarter.
American and United airlines enjoyed highly profitable second quarters, but their cargo businesses were a downer.
According to Terminal Industries, 92% of yards lack technology solutions to eliminate wasted capacity, drive down unforeseen costs and improve inventory operations, leading to $146 billion in excess transportation costs.
Kodiak Robotics and Drivewyze are working with Texas authorities to make it easier for autonomous trucks to bypass weigh stations.
With sequential comparisons as important as year on year, truckload carrier Marten held on in Q2 compared to Q1.
Two completely different approaches taken by two different circuit courts over broker liability could result in another trip to the Supreme Court on the issue.
Women In Trucking Association President and CEO Jennifer Hedrick explains how the average driver job has changed, removing barriers for women.
Torc Chief Strategy Officer Andrew Culhane chats with FreightWaves’ Thomas Wasson in this Enterprise Fleet Summit fireside chat about the strategies used to integrate new technologies.
Nikola won’t need any more shareholders to vote for a share count increase because a Delaware rule change lowers the threshold.
Innovative FreightTech firms showed off their newest products during FreightWaves’ Enterprise Fleet Summit on Wednesday.
Startup Gage Zero thinks its expertise in negotiating renewable energy contracts will help fleets transition to electric mobility.
Trimble’s Jesse Chappell discusses how video AI in trucking is gaining momentum with enterprise fleets.
Volvo Group posted record second-quarter profits but accepted fewer orders and shed market share during the quarter.
The 7th Circuit on Tuesday ruled in favor of the freight brokerage industry regarding negligence claims.
J.B. Hunt Transport Services missed second-quarter expectations Tuesday and said it is still uncertain how peak season will play out.
A former third-party CDL skills tester in Idaho was recently sentenced to two years in prison for his role in a three-year bribery scheme.
Truckstop has acquired FreightFriend, an AI-powered carrier relationship management platform.
Logistics real estate giant Prologis beat second-quarter estimates Tuesday but lowered its rent growth forecast for 2023 as the market cools from peak activity.
