Business

Transportation startups that went for easy SPAC money never thought times would turn so ugly – certainly not so fast.

Flexport has taken another step toward simplifying international freight transportation from manufacturing to e-commerce storefront.

FreightTech providers are examining disruptive global shipping modifications that would be detrimental without AI’s support.

An annual survey from Descartes shows how brokers and forwarders are adjusting to the downside of the cycle.

Autonomous trucking software developer TuSimple will cut 300 more jobs and keep China operations it had planned to spin off or sell.

Outsize profits are still flowing to companies like Danaos and Costamare that lease ships to container lines.

Cummins wants its filtration business to stand alone, but the engine and power distribution company will keep at least 80.5%.

ChatGPT and other advanced AI tools are looking to find homes in supply chain software and in some cases already have.

Load board fraud hurts the American trucking industry and should be a top priority for everyone in the space.

“Ditat allows us to see the full picture immediately, and if detailed information is required we can pull the required reports and dissect it further,” Silver Trucking’s Behaija Dzananovic said.

The container shipping party is over — that’s old news. Yet headlines continue to focus on comparisons to the peak.

If you’ve never heard of Phoenix-Mesa Gateway Airport, you’re not alone. But for DSV, a large logistics company, it could prove a diamond in the rough for air cargo purposes.

First-quarter financials were iffy and cash was tight, but Workhorse electric stepvan manufacturing made progress.

Trucking rates are now below 2019 levels, but operating costs are much higher. Demand for trucking is set to get even lower this year.

Intramotev will use the $200,000 grant to test and deploy three self-propelled rail cars in the Upper Peninsula of Michigan in late 2023.

Former Daimler Truck North America CEO Roger Nielsen will become chairman of Proterra Inc. (Photo: Daimler Truck North America)

Recovery from the recession in airfreight transportation looks like it will be drawn out over the next year — and very slight when it does happen.

Autonomous trucking software developer TuSimple will disappear from the Nasdaq on Monday as it is delisted for financial filings failure.

Nippon Express has signed a deal with Austria’s Cargo-Partner that expands its geographic reach and logistics service capabilities.

All airlines are experiencing lower cargo revenue, but Air Canada lagged most competitors during the first quarter for reasons both unique to the airline and common for the industry.

Once the flywheel that is electric trucks gets spinning, there will be no slowing it down. But as former college football coach Lee Corso is fond of saying on ESPN […]

Ratings agency Moody’s held J.B. Hunt’s debt rating steady, as the trucking company’s rating hasn’t changed since 2014.

The CEO of shipping line Hapag-Lloyd argues that current freight rates are unsustainable and will correct upward over time.

U.S. Xpress has laid off about 150 staffers and reported a hefty loss to the SEC.

The so-called Olson case over AB5 draws interest from well beyond California.

CPG companies are trying to lock in low freight rates in a cyclical trough.

Radiant Logistics said it will continue to use free cash flow and potentially debt to fund share repurchases and acquisitions.

U.S. box demand, which has experienced historic declines in the past two quarters, remains unusually weak in Q2 from all indications.

Four supply chain-focused firms have secured a combined $70 million in funding amid a sluggish investment market.

TravelCenters of America shareholders voted overwhelmingly in favor of the proposed sale to BP.

GXO, the world’s largest pure-play contract logistics provider, posted a record 12% year-over-year revenue gain.

EY Americas’ Sumit Dutta says there’s a realization among companies that a broken or inefficient supply chain is going to crimp growth.

Chattanooga, Tennessee-based Lipsey Logistics has confirmed that it was forced to cut a number of jobs as the result of a “constrained and declining freight market.”

Daseke pulled in its full-year 2023 outlook on Tuesday as the freight market has failed to yield normal springtime demand improvements.

E-commerce funding platform 8fig has raised $140 million to help online sellers expand their profitability and market reach.

Integrated business planning solutions “enable an organization to respond to changing demand while managing product flow to ensure high customer service,” says ArchLynk CEO Sekhar Puli.

Nikola will get $35 million in cash and 20.6 million of its shares from ending a joint venture with Europe’s Iveco Group, but ties remain.

Higher expenses and lower carload volumes contributed to a year-over-year dip in BNSF’s net profits for the first quarter.

Amazon air cargo partner ATSG has its eye on long-term growth, but investors with a shorter horizon are wary of big expenditures for cargo jets as shipping demand wanes.

The Advanced Clean Transportation Expo has grown so large that organizers kept a waiting list for exhibitors.

Cold storage provider Americold raised 2023 guidance even though it remains uncertain how much a recent cyberattack will impact results.

Airbus has delayed the entry into service of the firstA350 freighter until 2026.

Less-than-truckload carrier XPO reported better-than-expected first-quarter results and said it remains on track to achieve long-term profitability targets.

Reduced North American rail traffic isn’t dampening the outlook for these rail equipment manufacturers and rail car lessors.

“Once shippers get up and running on GoodShip, they invite their carriers onto the platform. This creates a multiplayer experience where each party has access to modern analytics, creating a single source of truth,” says CEO Ryan Soskin.

Inventory destocking is the biggest container shipping headwind, says Maersk. Its data shows no evidence of inventory pressures alleviating yet.

Werner Enterprises reported first quarter revenue of $832.7 million, up 9% year over year compared to the same period last year.

Less-than-truckload carrier Yellow Corp. recorded a net loss during the first quarter as it attempts to overhaul its network.

Quarterly earnings at stand-alone brokerage RXO were healthy compared to the performance of most companies in the freight sector.

Korean Air and Lufthansa Cargo saw cargo revenues shrink substantially during the first quarter amid weak economic conditions.

Tech solutions firm Trimble reported $154.9 million in first-quarter transportation revenue amid a softening freight market.

The softer markets in air and ocean freight are directly visible in Expeditors’ first-quarter earnings.

Canadian air cargo company Cargojet is searching under every rock for savings to maintain profit levels as shipping demand deteriorates.

The price of crude oil is now lower than it was when OPEC announced its latest cuts, fueling more concern on tanker demand.

Supply chain software provider e2open gave a bleak outlook in its earnings. Its stock took a pounding in response.

U.S. truck engine maker Cummins on Tuesday reported first-quarter revenue of $8.5 billion, boosted by strong global demand for its products.

Forward Air noted some optimism in its lowered outlook on Tuesday, saying recent customer conversations have been promising.

Packaging industry volumes remain historically weak in Q1, with destocking a recurring theme; when will it end?

Uber Freight, Convoy and J.B. Hunt formed the Scheduling Standards Consortium in December to standardize trade data and synthesize scheduling technology.

Uber Freight suffered along with the general freight market downturn and saw its first-quarter EBITDA sink yet again.

Two of the world’s largest third-party logistics providers consider the glass half-full despite a substantial drop in profits.

Electric truck maker Nikola will get 50 Hyla-branded hydrogen fueling stations in a five-year deal with infrastructure developer Voltera.

Kodiak Robotics bought a Peterbilt Model 579EV to marry its autonomous system with electric propulsion. It is using the truck in testing.

Kodiak has taken big steps along its commercialization journey with new carrier partnerships and advancements in its self-driving trucking technology.

Arizona, Texas and other states aim to reconfigure the global supply chain for makers of electric vehicles, batteries and semiconductors.

DAT’s breach-of-contract claim against Convoy will also proceed.

Canadian trucking and logistics provider Mullen Group announced the acquisition of less-than-truckload and truckload carrier B. & R. Eckel’s Transport.

Truckload carrier Heartland Express missed first-quarter expectations.

Saia’s revenue trends in April are much better than its less-than-truckload peers.

Universal Logistics Holdings saw revenue declines in its trucking, brokerage and intermodal segments in the first quarter.

Sun Country is bucking the trend of express carriers flying fewer hours because of slow shipping volumes. Its Amazon fleet is busy as ever.

ArcBest on Friday stood by its strategy to take on lower-margin business.

Triumph Financial felt the soft freight market like everybody else, but its network of the future did show signs of improvement.

Just before California regulators vote on a Clean Fleets rule, Daimler Truck has launched the U.S.-focused Rizon brand of Class 4-5 EVs.

Trimac Transportation said Thursday it has completed the acquisition of AIP Logistics.

Hub Group had year-over-year revenue declines in its intermodal and logistics segments during the first quarter.

Amazon also issues higher second-quarter guidance.

Covenant’s biggest announcement in disclosing its first-quarter earnings is that it bought a large hauler of poultry-related freight.

Companies expecting a near-term demand recovery might be well served to read Visa’s Q1 earnings call transcript.

Quarter after quarter, Paccar Inc. points to parts sales as driving its revenue and profits. Rush Enterprises deserves some of the credit.

Schneider National beat first-quarter expectations Thursday but lowered its full-year outlook as excess capacity lingers.

American Airlines joined its peers in posting lower cargo revenue for the first quarter from a year ago.

Carriers will now be able to handle their fuel expenses on Uber Freight’s app with no annual fees, according to the freight marketplace.

The partnerships with the two truck carriers for intermodal service will create new business opportunities for all three companies, CPKC officials said during the company’s first-quarter 2023 earnings call.

U.S. Xpress, about to be sold to Knight-Swift, has settled 4-year old litigation regarding its initial public offering.

Gol Airlines in Brazil will have five all-cargo aircraft in its fleet by next month operating in a dedicated service for a large online retailer.

Freight broker Landstar System sees a big earnings falloff from the all-time high established a year ago.

Tracking trailer inventory was always part of Outrider’s autonomous distribution yard plan. Now, it is happening.

Aurora Innovation and Continental AG are partnering to build the Aurora Driver autonomous hardware to scale for the U.S. in 2027

Trailer maker Wabash reaped the benefits of its reorganization and long-term customer deals in the first quarter.

C.H. Robinson had a weak first quarter, as expected, and a new CEO should be in place by the end of the quarter, according to management.

Hawaiian Airlines faces more turbulent market conditions coming out of the pandemic than nearly any airline. On the bright side is a new charter contract with Amazon that will diversify the business.

Norfolk Southern is adjusting how it configures trains in response to the February East Palestine, Ohio, derailment. That will help the company improve productivity later this year, officials said during the railroad’s first-quarter 2023 earnings call Wednesday.

Like Volvo Group and Paccar Inc., which have already reported, Daimler Truck forecasts a stronger-than-expected first-quarter earnings report.

Link Logistics maintained high occupancy and rent growth in the first quarter.

TFI International reported first-quarter revenue declines in all four main operating segments.

Old Dominion said Wednesday that volumes have stagnated and some of its customers are pushing back on pricing.

“Trucking as a business is not about what you make, it’s about what you don’t spend,” industry expert Adam Wingfield said at FreightWaves’ Small Fleet & Owner-Operator Summit.

Uber Freight’s head of product shares simple ways to improve decision-making and reduce costs while improving customers’ shipping experiences.

Cargolux set financial records in 2022 but expects its air cargo business to decrease this year because of difficult operating conditions.