Startup electric last-mile van developer Arrival cut 50% of its workforce as it tries to reduce cash burn and make it to production.
Cardboard boxes are a humble but key indicator. Manufacturers are quickly halting output of this good in a spooky sign for the economy.
Rail car manufacturer and lessor GATX sees a strong secondary market and continued demand for rail cars to help support the company this year.
Ameriflight, an air cargo contractor for big express companies, is considering a large purchase of uniquely designed, semi-autonomous freighters from Natilus.
Triumph Financial hit a significant milestone in the business it built from the acquisition of HubTran, but TriumphPay’s EBITDA worsened.
The former co-owner of an Iowa trucking company was sentenced Tuesday for orchestrating an elaborate $250,000 check kiting scheme. He is also facing unrelated charges in state court that he allowed more than 800 pigs to starve or freeze to death in his care in December 2021.
A FreightWaves webinar featuring CEO Craig Fuller looked at the current state of the freight market.
Container drayage TMS provider PortPro said it raised $12 million to expand tech capabilities on its platform.
Deliberate perfectly describes Paccar’s approach to trucking electrification. The company offers nine commercial electric trucks but skips the hype.
Knight-Swift Transportation’s 2023 outlook comes in as expected, potentially establishing a higher earnings trough for the carrier.
American Airlines generated strong cargo sales in 2022 even as market conditions deteriorated.
Companies in need of supply chain visibility can now leverage FourKites data through their existing internal platforms.
Covenant Logistics Group is hopeful this cycle won’t bring a material earnings decline, which was the norm in prior downturns.
Marten Transport had a mostly steady quarter, with some improvements and some softness.
Like the other Class I railroads, CSX is bracing for macroeconomic headwinds in 2023. But continuing service improvements will lend support to the company, executives said during CSX’s fourth-quarter earnings call.
Volvo Group set a fourth-quarter record for deliveries, but the OEM said supply chain disruptions and energy costs would impact business.
“It’s not a one-size-fits-all scenario. We can sit down with any merchant of any size, with any kind of commodity and really understand their needs and how both the technology and our carrier network can get that customer delivery experience they are looking for,” said Brad Noble, Passport’s new head of business development.
FreightTech startup Freightos is raising money through a public offering rather than seeking venture capital.
Covenant Logistics Group missed fourth-quarter expectations even when excluding expenses incurred onboarding equipment.
Inflation and other macroeconomic headwinds figure into Norfolk Southern’s projections for 2023. Volume growth is also a big unknown, executives said during NS’ fourth-quarter 2022 earnings call Wednesday.
FitzMark announced Wednesday it has completed its seventh acquisition in the last four years.
By the end of the week, Convoy carriers will be able to receive instant bid feedback on 98% of company-sourced loads.
CN will adjust its operating plan to run faster and potentially shorter trains and concentrate on courting customers where network capacity is available, executives said on the railway’s fourth-quarter 2022 earnings call.
On Union Pacific’s list of resolutions for 2023 are plans to improve rail service, enhance quality of life for craft employees and achieve productivity gains, according to executives on the railroad’s fourth-quarter 2022 earnings call Tuesday.
Paccar Inc. posted record revenue and profits across the board in the fourth quarter, belying predictions of an economic slowdown.
“We are proud to be part of this first-in-history interoperability launch between eBOL platforms,” said CargoX founder and CEO Stefan Kukman.
An online auction on Tuesday will sell the assets of family-owned Art Mulder & Sons Trucking of Holland, Michigan, two months after the refrigerated LTL carrier ceased operations after 50 years.
Uber Freight is cutting about 3% of its workforce, all of the jobs coming out of its digital brokerage activities.
Three defendants who pleaded guilty in the Louisiana staged accident scam will get probation, not jail time.
Temperature-controlled carrier R.E. Garrison Trucking announced it has acquired produce hauler Boaty’s Transport.
The first freight sentiment indexes in 2023 show eroded near-term freight market expectations but signs of a more balanced landscape on the way.
The government opposed a new trial for Nikola Corp. founder Trevor Milton, dismissing his allegations of juror misconduct.
James Reed is the new COO at autonomous truck startup Kodiak Robotics, possessing tech credentials unrivaled among trucking executives.
White House economic adviser Brian Deese points to supply chain improvements while new pressures loom overseas.
As valuations of SPAC-backed startups plummet, one autonomous trucking developer that avoided the FOMO and stayed private is thriving.
“Terminal49’s automation has saved us thousands of dollars a year, but more importantly it’s helped improve customer trust,” said Trade XCelerators’ Spencer Strader.
United Airlines saw cargo revenue dip but exceeded financial expectations in the fourth quarter.
Prologis says warehouse rents will step higher again in 2023.
BoxC’s data-sharing initiative with the FDA showcases the growing need for government regulators to work with supply chains to fix operational inefficiencies.
Colorado startup Outrider, which transforms distribution yards into automated operations, has raised $73 million in a Series C round.
Management from J.B. Hunt sees the potential for a rebound in freight markets by the back half of 2023.
Ryder System Inc. is set to lay off 801 employees after losing work at an Applied Materials semiconductor plant in Austin, Texas.
J.B. Hunt recorded a huge headline miss in the fourth quarter. However, excluding what may be a nonrecurring claims expense, the result was more subdued.
Bank of America analyst Ken Hoexter now has a buy rating on most of the truckload carriers he follows.
Truck-as-a-service startup Forum Mobility enters a $400 million joint venture to establish electric drayage truck charging sites.
The railroads must work with other supply chain stakeholders and even consider sharing infrastructure in order to maintain an integral role within the broader freight transportation network, experts said at the Transportation Research Board’s annual meeting.
Nikola will move battery pack manufacturing to Arizona and files layoffs notice for a former Romeo Power plant.
The California Trucking Association is making its pitch for another injunction to keep AB5 out of the state’s trucking sector.
Nearly 1,400 delivery drivers will split $5.6 million following an eight-year investigation by the U.S. Department of Labor, which found that Parts Authority Arizona LLC and Diligent Delivery Systems misclassified its employee drivers as independent contractors.
Delta Air Lines carried more than $1 billion in cargo below passengers’ feet last year, setting a company record.
It is pretty much acknowledged across the trucking industry that a consolidation of players in autonomous trucking is coming.
Supply chain financing is a major way that corporate behemoths keep cash flow humming. This tool is about to get its moment in the spotlight.
Influential logistics provider Flexport says it will reduce its staff by 20% in the face of a looming global recession.
Wabash has signed a multiyear trailer supply agreement with J.B. Hunt, making good on its plan to smooth out equipment ordering.
A first-ever strategy aimed specifically at decarbonizing transportation encourages maritime and rail over highway freight.
E2open, a publicly traded supply chain software provider, reveals earnings that provide a look into the state of the industry.
Already serving nearly seven years in federal prison for embezzling more than $700,000 from the trucking company where she worked, a Missouri bookkeeper was sentenced to two more years for committing Paycheck Protection Program loan fraud.
Morgan Stanley said trucking fundamentals could be “bottoming” in a Monday note to clients while Susquehanna called it quits on several stocks.
Reducing costs and shifting supply chain conditions were among the reasons why rail car manufacturer Greenbrier is ceasing production at its longtime Portland, Oregon, facility.
This week: J.B. Hunt is inducted into the philanthropic society of a Texas cancer center, NFI helps Girl Scouts earn their Transportation Badge and Werner continues to wear red to support a military nonprofit.
AskWaves looks at how recent changes requiring disclosure of supply chain finance programs could impact shippers.
Amanda May, 36, of Whitesville, Kentucky, has filed a motion to intervene in the wrongful death lawsuit filed by her mother’s partner, Spangle The Clown, against Lala Trucking Inc. and one of its drivers.
Autonomous trucking language can be a little off-putting to the uninitiated. One exception may be the term “feature complete.”
NOVA Infrastructure has announced it added another port drayage provider serving the Port of Charleston to its portfolio.
Flexport is hiring top tech talent to scale up its digital logistics platform.
E-commerce giant Amazon will lay off over 18,000 workers during its current round of job cuts, first reported in November.
Forward Air announced it will buy fellow expedited less-than-truckload provider Land Air Express in a $56.5 million transaction.
Microsoft Corp. is reportedly near an investment in Gatik, the middle-mile autonomous trucking startup.
Bestpass and Drivewyze have come together in a collaboration aimed at an expansion of using tolling data to aid drivers.
New details have emerged about United Furniture’s financial health and why its lender, Wells Fargo Bank, filed a petition on Friday to force the furniture company into Chapter 7 proceedings after its abrupt shutdown.
Supply chain visibility leaders provide insight on their decisions in 2022 and what’s in store for the FreightTech segment in 2023.
Deal flow slowed in 2022, but there were still a number of transactions that changed trucking’s landscape during the year.
2022 brought a recession in the trucking industry, but few large trucking companies declared bankruptcy.
For a series of convoluted reasons, a ratings agency has changed its outlook on flatbed operator Daseke.
Ryder rolls out warehouse automation that fits your profile.
Isometric Technologies offers the supply chain’s first logistics performance intelligence platform that ensures the reliability of third-party performance data.
In partnership with Parade, McLeod Software’s digital freight matching API equips brokers with best-in-class capacity management.
Freight forwarder MTM Logix recently received a private equity investment aimed at capitalizing on companies nearshoring to the Americas.
Robust marketplace offers more than connectivity for shippers and carriers.
As FetchGoat began to grow, co-founder and CEO Bill Hale had one strategic investor in mind.
TriumphPay’s Emily Meyers notes that it’s tougher for carriers to predict their cash flow and expenditures while facing such long payment cycles.
A $240,000 incentive from California plus other subsidies could bring parity between a Nikola fuel cell truck and a diesel rig.
California’s ABC test was a key reason why a decade-long misclassification case against Hub Group settled.
FedEx Express is looking to trim fat at the largest cargo airline in the world and lean on rental fleets to fill in needs.
With so many truckers but so few parking spaces, TruckParkingClub.com has found a way to create more of the latter.
From a Netflix-worthy docudrama at TuSimple to dueling technology announcements, autonomous trucking took steps toward commercialization.
Triumph Financial’s shares are cut to a sell level at Wells Fargo on a still lengthy wait for a payoff at TriumphPay.
Cox Transportation announced Wednesday the acquisition of Outwest Express and its fleet of more than 400 tractors and 1,200 trailers.
TuSimple cut 25% of its workforce that grew too fast following the company’s public debut in 2021.
FedEx must convince stakeholders that it will stay the course on cost reductions.
Several airlines have tapped software interfaces to allow electronic bookings for their cargo capacity.
FedEx’s 2023 second-quarter results proved its ability to quickly slash costs but also showed the damage a demand slowdown is inflicting on its top line.
The spending bill to keep the federal government running through fiscal 2023 includes updated measures for trucking and maritime sectors.
Autonomous trucking startup TuSimple will be on the hook for $15 million in cash severance if it ousts CEO Cheng Lu a second time.
An appellate court that will determine whether the Prop 22 gig worker vote in California is constitutional recently heard arguments.
Lazer Logistics said Tuesday it has acquired the yard shuttling operations from Colorado-based Preferred Cartage Trucking Services.
Echo Global Logistics’ contractual sourcing and continuous movement programs are helping owner-operators stay the course amid market volatility.
Even though the final piece of XPO’s breakup has been put on hold, the company’s bullish growth ambitions for less-than-truckload have not changed.
Several trucking companies, logistics firms and cold storage facilities are collectively owed millions of dollars after an Iowa-based meat importer filed for Chapter 11 bankruptcy protection recently.
“To get the most out of your technology, you have to have the right processes. And to get the most out of your processes and technology, you have to have the right people.”
