Nikola Corp. maintains it can raise capital through equity sales, but its auditor says that’s uncertain, prompting a notice of going concern.
Will new leadership be enough to save the FreightTech company?
Air Transport Services Group says its leasing business is insulating it from a market downturn that is impacting its cargo airlines.
The former safety manager of two California trucking companies was sentenced to three years of probation for his role in an illegal cargo tank repair conspiracy.
Autonomous truck convoy developer Locomation denied reports it is closing, but said it laid off most non-engineering employees.
Nikola is still far from positive financial territory, but the integration of major components should help bring costs down.
What does it mean to have a former Daimler Truck executive in charge of Torc Robotics? Experience guides a big mission focus
Atlas Air took a profit cut in the fourth quarter, but comparisons with 2021 weren’t good because it was a record year financially.
“When you work in the automotive industry, there’s an inherent pressure and stress that comes with moving these shipments,” said Gregory Grimes, the owner and managing partner of West Central Motor Freight.
Radford University’s Zach Collier discusses the state of the semiconductor industry with FreightWaves’ Eric Kulisch after chip shortages roiled the global economy during the pandemic.
“We knew the port terminals, we understood their operations, but mostly we understood their systems and data. We thought we could be the bridge that wasn’t created before that could speak both parties’ languages and get containers in and out,” said BlueCargo co-founder and CEO Alexandra Griffon.
The annual OOIDA survey on driver compensation has findings on use of digital brokerages that don’t appear to line up, but definitions may be the issue.
Christina Hultsch, a partner in Benesch’s Healthcare Practice Group, addressed how generic pharmaceutical wholesalers fared during the COVID-19 pandemic compared to the big three manufacturers and discussed some of the difficulties of shifting drug manufacturing production back to the U.S. during Global Supply Chain Week on Wednesday.
HelloFresh executive Matt Cicinelli discusses how the pandemic shifted the company’s supply chain strategy during FreightWaves’ Global Supply Chain Week.
Fillogic CEO Bill Thayer chats middle mile and reverse logistics at FreightWaves’ Global Supply Chain Week.
Nikola customers will test Plus autonomy on the startup’s battery and fuel cell electric trucks this year and make it standard in 2024.
Supply chain veteran and patent holder Julian Van Erlach explains how FabFitFun continues to ship “more gross profit dollars per package.”
“The digitalization of trade documentation is in full swing worldwide, and companies need all the support and advice they can get to implement the optimum solutions into their everyday workflows,” said CargoX CEO Stefan Kukman.
New York Shipping Exchange head Gordon Downes talks about the ocean shipping market at FreightWaves’ Global Supply Chain Week.
TFI International said Tuesday it acquired asset-light intermodal provider Axsun.
Jackie Gonsalez, vice president at Crowley Logistics, discusses post-pandemic maritime trends with Thomas Wasson on Tuesday during Global Supply Chain Week.
Air Canada is investing heavily in its dedicated cargo operations at a time when freight rates are slumping.
Rosemary Coates of the Reshoring Institute discusses supply chain strategy during FreightWaves’ Global Supply Chain Week.
Expeditors suffered a significant decline in fourth-quarter earnings as the air and ocean freight markets dropped sharply.
When asked to select statements that applied to them, 35% of self-identified owner-operators checked, “If the market does not rebound materially by the end of 2023, I will leave the industry.”
Experts predict more nearshoring of manufacturing to Mexico in 2023, especially for supplies of components used in green technologies.
Inventory management is one pipe in the supply chain that can stoke the flames of inflation.
Lawmakers in Iowa and Florida are considering bills to curb nuclear verdicts against trucking companies.
BP is buying Travel Centers of America at a good price per outlet and stands to get environmental benefits that can be measured in dollars.
Seven people have been sentenced this month in the Louisiana truck collision scam.
How long will incentives drive the transition to electric trucks and help pay for the infrastructure that powers it? It’s going to be awhile.
The American Transportation Research Institute is again investigating the safety and other impacts on the trucking industry of state-level marijuana legalization — as well as additional questions the issue raises.
Austin, Texas-based Overhaul has acquired SensiGuard in a deal aimed at increasing the supply chain security firm’s global footprint.
TravelCenters of America is being bought by oil giant BP.
“The new model is flexible and brings together dedicated support teams highly trained on one or a few shippers’ needs and operating requirements,” said Convoy founder and CEO Dan Lewis.
Ryder’s 2023 profitability forecast assumes lower numbers due to falling used truck prices.
There were ‘no surprises’ in GXO’s quarterly report, according to CFO Baris Oran.
Just as the name suggests, Get It There Faster helps shippers easily move LTL ground and air freight, instantly bringing expedited rates to their TMS platforms.
Prosecutors allege former Slync CEO Chris Kirchner misappropriated over $28 million from the company he helped launch to fund his lavish lifestyle.
A year ago, they fought over patent infringement. Now Ouster and Velodyne are one company seeking to win in the overcrowded lidar market.
Supply chain software provider Descartes announced Tuesday the acquisition of final-mile tech platform GroundCloud.
Convoy is looking to improve the contracted freight market for small carriers and shippers with forever-evolving freight needs.
Carrier Pam Transportation saw margin pressure in the fourth quarter as peak season didn’t materialize.
HMM acknowledged that “freight rates in most key trade lanes have been under downward pressure since H1 2022.”
Ocean carrier revenues fell sharply in the fourth quarter versus the third and continued sinking in January.
Batteries. Electrified components. Fuel cells. Cummins Inc. has plans for all of them. But hydrogen-making electrolyzers top the list.
Radiant Logistics pushed back financial filings once again as it works to correct inaccurate timing of revenue and expenses in prior periods.
Despite record-low unemployment, the packaging giant behind Bubble Wrap says consumers aren’t buying red meat or shopping online like before.
Less-than-truckload carrier Yellow reported another large decline in volume leading to a fourth-quarter loss.
The Postal Service is hit by higher costs, slowing package volumes.
Beer is too expensive, but consumers are happy to spend top dollar on hard liquor.
XPO’s growth strategy includes a wider net for capturing volume, but the less-than-truckload carrier is adamant it will remain price disciplined.
Shares are trading down sharply after Forward Air reported shipping fewer pieces per shipment than expected in the fourth quarter.
FleetCor Technologies beat Wall Street quarterly revenue and earnings estimates and offers a positive outlook for 2023.
Transport company RXO, coming off a solid performance in its first quarter as a stand-alone entity, is “positioning ourselves for the inflection,” according to CEO Drew Wilkerson.
XPO takes share in the fourth quarter, posting adjusted earnings ahead of consensus.
The latest freight congestion data builds a case for better targeting of billions of dollars in new government infrastructure money.
Weak freight markets led to a fourth-quarter downturn at Uber Freight.
The U.S. Postal Service is canceling its mail contract with a California-based trucking company with a history of safety violations and drivers who were involved in two fatal crashes in the past two years.
Supply chain technology provider Trimble Inc.’s transportation revenue was $150 million in the fourth quarter and $604.2 million in 2022.
Cargo thieves stole more than $223 million worth of merchandise in 2022, led by household items, electronics and food and beverage goods.
Ocean carrier Maersk sees a rough second half of the year, when remaining support from contract rates “will disappear.”
Nominate industry-leading shippers for FreightWaves’ annual Shipper of Choice award by Thursday, May 4.
Management from Werner Enterprises parses through 2023 expectations on a Tuesday evening call with analysts.
Transportation firm RXO reports a 19.6% gross margin in the fourth quarter, with brokerage gross margins clocking in at 17.9%.
Amid recession fears, industry experts reveal freight’s most untapped differentiator— next-generation weather technology.
Less-than-truckload booking platform MyCarrier is automating insurance coverage for the 10,000 shipments it is booking daily.
In the inaugural Moving World Report, UP.Partners dives deep into what drives today’s mobility industry — and examines what’s holding it back.
TFI posted in-line fourth-quarter EPS. Revenue was down in a tough operating environment.
Daseke said Monday that supply constraints and cost inflation will again push flatbed rates to new highs in 2025.
Former Celadon trucking officials have settled a fraud case with the Securities and Exchange Commission.
Engine maker Cummins Inc. posted 2022 records in key financial metrics as it worked to integrate its Meritor acquisition.
Burrell Aviation has named an ex-Southwest Airlines director to lure cargo airlines to properties it controls at second-tier airports.
Maintenance downtime at Sun Country cut into cargo revenue and growth was limited by slower Amazon e-commerce business.
LTL carrier sees likely flat operating ratio in Q1 compared to Q4 of ’22.
Truckload carrier Heartland Express missed fourth-quarter expectations Friday.
ArcBest’s fourth-quarter was worse than expected as the carrier manages through the downside of the less-than-truckload cycle.
A cross-section of Industry experts offer thoughts on how transportation management systems will integrate with autonomous trucks.
Hub Group had higher revenue in its logistics, truck brokerage and intermodal segments during the fourth quarter.
Amazon posts solid revenue but retreats on operating and net income.
The tanker industry has a storied history of corporate showdowns. The latest, a three-way tussle involving Euronav, looks far from over.
Jones Logistics said Thursday it has acquired dedicated carrier Nationwide Express.
The day after C.H. Robinson announced disappointing fourth-quarter earnings, the analyst community showed little optimism for the 3PL leader’s near-term future.
GoFreight, a startup freight shipping platform for small and midsized freight forwarders, recently raised $23 million in a Series A round.
Schneider National provided better-than-expected fourth-quarter results Thursday, and its 2023 guidance also came in ahead of analysts’ expectations.
Aligning with certain customers on long-term supply agreements helped Wabash post Q4 and full-year records.
If history is a guide, advanced technologies in Daimler Truck North America’s SuperTruck II prototype could end up in production.
Freight broker Landstar System sees a rocky road in the first half of 2023, with normal seasonality returning by summer.
Enterprise carrier growth shows that U.S. trucking saw more capacity enter the market in 2022, even as the economy cooled.
Hawaiian Airlines faces some headwinds in 2023, including some extra temporary costs to prepare for new business flying freighters for Amazon.
Interim CEO Anderson says cost savings target is $150 million by the end of the year; Global Forwarding drags down Q4 earnings.
Republican lawmakers blame the Biden-backed $1.2 trillion infrastructure bill for boosting inflation and vow to step up oversight on how the money is spent.
The Wall Street Journal reported a federal watchdog group urged an espionage probe into TuSimple leaders, but the company denied the report.
Amid falling tonnage throughout the less-than-truckload complex, Old Dominion posts another large earnings beat.
Canadian Pacific is waiting for the Surface Transportation Board to render its decision on the proposed merger with Kansas City Southern. In the meantime, CP has been conducting interline tests to see how its service might compare to similar truck lanes.
XPO, on its way to becoming a pure-play LTL carrier, received an upgrade in its debt rating from S&P Global Ratings.
Freight projects around the U.S. too large for traditional federal grants have received a major cash infusion.
Daimler Truck created capacity for 2,000 battery-electric trucks in 2022, but the lack of charging infrastructure stunted deliveries.
ONE’s profit dropped by 50% quarter over quarter to $2.76 billion.
German ocean shipping company Hapag-Lloyd said its earnings before interest, taxes, depreciation and amortization jumped by $7.6 billion year over year.
