Business

Container giant earned $5.1 billion in the second quarter and expects earnings of $18 billion-$19.5 billion for the year.

“The acquisition of RJ’s further expands the reach of A&R’s liquid platform into strategic geographies and allows our team to continue meeting the needs of our customers across the supply chain.”

A 3-judge panel was ready to rule on the carrier’s appeal, but a larger group of judges will now render an opinion.

“Now we are understaffed and have laid off a couple of people that have really key, historical knowledge of the products. … It has become a really toxic strategy,” says a source inside Omnitracs.

A federal jury found former Roadrunner Transportation Systems CFO Peter R. Armbruster guilty on four counts of violating federal securities laws in a $245 million securities and accounting fraud scheme. It acquitted two former controllers of Roadrunner’s truckload division.

The company’s earnings per share tripled the prior-year results due to strong demand, favorable comparisons with 2020’s second quarter.

“The fix wasn’t sitting on a shelf,” Tennessee Department of Transportation Commissioner Clay Bright said about the Hernando de Soto Bridge repairs that started in mid-May.

Ocean Network Express says the “economic environment is now changing” and it cannot forecast what the rest of 2021 holds, but Hapag-Lloyd can. It expects to triple 2020’s EBITDA.

“Gopuff has quietly built a very strong business and solidified itself as the leading player, continuing to define this evolving category.”

Several trucking and logistics companies are collectively owed hundreds of thousands of dollars after Consolidated Glass Holdings Inc. and its subsidiaries — J.E. Berkowitz, Shaw Glass Holdings and Columbia Commercial Building Products — shuttered operations and filed Chapter 7 bankruptcy in mid-July.

USA Truck reported second-quarter net income of $4.2 million, after reporting a loss of $900,000 in the same period a year ago.

FarEye’s Intelligent Delivery Management Platform equips enterprises for a low-cost, sustainable future and creates happier customers through reduced cost and optimized operations.

Boston-based Motional is testing how its AVs can collect and transmit data on electric infrastructure to utility provider Eversource.

Shipping and fulfillment costs continue to escalate at double-digit levels.

The Omaha, Nebraska-based transportation and logistics provider reported second-quarter adjusted earnings of 86 cents per share.

Forward Air posts a quarterly record for operating income and revenue in the second quarter.

The trucking industry’s issues with driver availability along with customers’ commitment to sustainability are factors that could support growth for intermodal beyond 2021 and 2022, executives said during Hub Group’s earnings call on Thursday.

The partnership between BlueGrace and Trucker Tools showcases the right way to leverage popular book now features.

Wall Street investors liked what they saw in the company’s earnings, pushing the stock up by more than 8%.

“Our logistics segment has been thriving and growing, including contract logistics and port services, with the largest contributor being brokerage,” says Schneider CEO.

Market alliances that seek to convert truck traffic east and west of the Mississippi River could be a way for Canadian Pacific to grow its network, executives said during the second-quarter 2021 earnings call Wednesday.

As Wabash National streamlines its business, the trailer manufacturer will convert reefer capacity to add 10,000 dry vans in 2023.

TuSimple will use Ryder System maintenance terminals as it expands its autonomous freight network from Arizona to Florida by year-end.

The numbers that the company is getting on its used tractor and truck sales is outpacing the assumptions in last year’s big inventory writedown

One aspect of the decision that may stick is a clear ruling that owner-operators on a lease are independent contractors, not employees.

Senate lawmakers find more money for highways and ports in a bipartisan infrastructure package.

The company posts solid numbers for its transport and logistics units as the logistics business prepares for trading on Monday as a spun-off entity.

Supply chain congestion is more about issues with throughput among various stakeholders and less about Norfolk Southern’s ability to handle volumes, executives said during NS’ second-quarter 2021 earnings call Wednesday.

CP’s second-quarter 2021 revenue totaled $1.64 billion in U.S. dollars.

Management has raised full-year revenue guidance to $3.45 billion-$3.55 billion.

A Mack Trucks facility was the backdrop Wednesday for President Biden to highlight his plan to require that 75% of the value of a product’s components be made in the U.S.

Truckload carriers’ “spillover” freight ties up LTL capacity during unprecedented times, Old Dominion executives said.

The acquisition is a part of a five-year strategic plan to innovate and create disruption in the bulk trucking space.

The recent chip shortage crisis isn’t helping matters.

A recent SEC filing shows the company has already raised $44.7 million from four investors.

The key profitability metric comes in 550 basis points below the company’s 2020 results.

A 24% increase in operating revenue contributed to record second-quarter net income of $819 million for Norfolk Southern.

E-commerce platform Shopify posted 57% growth in revenue in the second quarter as online shopping remained strong.

“I’ve coined it the ‘superpower of check calls,’” said TextLocate founder Ryan Rogers.

The Tuesday deadline imposed by K-Ratio to sign its universal settlement agreement or face legal ramifications passed without a consensus for the 34 trucking companies that participated in its fuel hedging program. The Chicago-based company abruptly shut down its fuel futures program in late June.

Federal prosecutors filed a motion Tuesday requesting the court dismiss all charges against ex-Pilot President Mark Hazelwood and two former sales team executives, Scott Wombold and Heather Jones. In October, a federal appellate court overturned Hazelwood’s conviction.

“Bill started reimagining email where it was most broken and therefore hardest to fix — large teams managing huge volumes and complicated processes,” said principal at Insight Partners Rebecca Liu Doyle of SEDNA’s CEO Bill Dobie.

The union representing thousands of Canada Border Services Agency personnel warns of “significant disruption to the flow of goods” if its members go on strike.

Robinson CEO Bob Biesterfeld said the truckload market will stay hot through 2021.

Despite all-time-high container production, demand continues to outpace supply and new box prices keep rising.

Peterbilt, Kenworth and DAF Trucks are sold out globally for 2021 as the global semiconductor shortage leaves 6,500 trucks awaiting parts.

TFI International’s hard line on unprofitable UPS Freight legacy business is helping accelerate the LTL carrier’s turnaround – and it’s just getting started

White-label platform raises $2.5 million to bring real-time, guaranteed container rates to global shippers of all sizes.

Dismantling highways to repair social damage may have consequences for the supply chain.

Investments in visibility and collaboration among bottling partners earns Coca-Cola a spot on the FreightWaves Shipper of Choice top 25.

Pollution credit sales are less of a factor as vehicle profitability at Tesla shifts to overdrive in Q2.

TFI International beats analysts in the second quarter as its U.S. LTL division left its days as UPS Freight in the dust.

Two groups announced this month their separate efforts to increase supply chain visibility. One technology tool focuses on locating railcars and another aims to forecast volumes at the Port of Los Angeles.

The next step is making deliveries to paying customers.

Experiencing the view from the passenger seat of a PlusDrive-equipped truck navigating a northern California rush hour.

With two significant acquisitions in the last year, the major force in factoring embarks on a new path.

FreightWaves examines the challenges of drayage logistics and the technology companies that are overcoming them.

A source says up to 35% of the workforce is being let go by parent company Solera in a massive restructuring plan to relocate positions to India.

Interstate Personnel Services announced the acquisition of Missouri-based dry van truckload carrier Transport Distribution Co.

Cargo was the good news for Air Canada in the second quarter as the company still struggles out of a pandemic hole.

Truck Talk is a weekly newsletter offering perspective and context behind news in the trucking industry.

Supply chain disruptions for international intermodal are likely to last through the end of the year, Union Pacific President and CEO Lance Fritz said during the second-quarter earnings call on Thursday.

USX’s CEO Fuller says Variant division is near the ‘inflection point’ for the new initiative having a bigger impact on profitability.

Covenant Logistics Group beat second-quarter earnings expectations and said the second half of the year is likely to produce stronger results.

Trucking companies outbidding each other for drivers using salary and per-mile wage increases are leaving themselves vulnerable when the next economic downturn hits, the American Trucking Association’s chief economist warns. […]

Fusion Logistics says layoffs were caused by a large increase in insurance premiums.

CSX wants to come up with long-lasting strategies to hire talent so that it can ensure that it can grow capacity in the future, said CSX President and CEO Jim Foote during the company’s second-quarter 2021 earnings call on Wednesday.

Union Pacific’s second-quarter 2021 net income grew 59% from a year ago to $1.8 billion amid a 30% gain in operating revenue.

Covenant Logistics Group reported a better-than-expected second quarter as freight demand remains elevated and capacity is in short supply. The company said the favorable conditions have carried into the third quarter.

Canadian trucking and logistics firm Mullen Group reported strong growth in the second quarter from a combination of a robust freight market and acquisitions.

Freight broker Landstar System sees continued strength in consumer spending push freight demand higher during the second quarter. The company posted its best quarterly results ever Wednesday after the market close.

The report is for a company that is about to undergo yet another change, with HubTran now in the fold.

The sale of property rights of CSX-owned line segments in Virginia more than doubled CSX’s net earnings for the second quarter of 2021 compared with a year ago. Net profit was $1.17 billion in the second quarter.

Fetch Package has created a last-mile logistics solution to optimize deliveries to multifamily housing communities, eliminating the need for updated package rooms or lockers and increased staff to handle incoming traffic.

Daimler Truck sold more vehicles in Q2 than the previous quarter but warned that supply shortages threaten second-half financials.

Customers’ push to manage inventories will support rail volumes in the second half of the year, even though potential headwinds in the form of wildfires, supply chain congestion and COVID-19 loom.

Knight-Swift Transportation beat second-quarter estimates and raised its full-year guidance to include the favorable operating environment in addition to accretion from recent acquisitions. However, the improved outlook includes the expectation for continued cost headwinds around labor.

Ratings agencies’ reviews don’t reveal profitability levels, but they do provide a window into some private company metrics.

Lyft riders in Miami will be able to choose a self-driving car later this year through an agreement with Ford and autonomous-tech company Argo AI.

The cybercriminals who operate a dark web marketplace admit to hacking companies’ networks and stealing their data. But they say ransomware violates their moral code.

Is this the start of more union representation at XPO or just a head fake?

United Airlines’ cargo division is one of the company’s biggest assets right now, with big returns again in the second quarter.

Higher revenues propelled CN’s adjusted net income for the second quarter to grow by 16.5% to CA$1.06 billion.

Volvo makes no mention of the UAW strikes but smaller sibling Mack Trucks delivers more units in Q2 as the industry recovers from year-ago pandemic shutdowns.

Kuehne + Nagel is one of the largest third-party logistics providers in the world and it got larger in the second quarter.

“The Transfix team is extremely talented, but there’s a quality to the culture that’s got gumption,” said newly appointed CCO Sophie Dabbs.

Midwest Carriers announced the acquisition of alcohol transporter Osborn & Son Trucking for an undisclosed amount.

Walmart leverages ongoing supply chain investments to land a spot among the FreightWaves Shipper of Choice top 10.

“Drayage is one of the biggest pain points for shippers right now,” said industry entrepreneur Andrew Leto.

J.B. Hunt Transport Services beat second-quarter expectations Monday. However, the back half of 2021 will depend on how well the railroads and shippers can improve their operations.

J.B. Hunt Transport Services reported better-than-expected second-quarter results Monday as the company saw double-digit revenue growth in all divisions when compared to the year-ago period, which contained widespread lockdowns from COVID protocols.

Prologis’ second-quarter results exceeded analysts’ expectations, and guidance moved higher as property rents are increasing at a record pace.

Heartland Express records its best consolidated operating ratio since its last acquisition was fully integrated.

In the midst of the COVID-19 pandemic, progress toward sustainable supply chains has not slowed like experts predicted, according to a recent report.

Logistics real estate investment trust Prologis announced Monday that demand for space remains robust and that operations are the healthiest in its 38-year history. The company modestly beat expectations for the second quarter and raised its outlook for the rest of 2021.

Despite headwinds, KCS thinks it can still achieve double-digit revenue growth for 2021.

The newly wrapped Chevrolet Camaro ZL1 1LE, driven for Rick Ware Racing and sponsored by BYRD Racing, will showcase the two FreighTech companies for the NASCAR Cup Series midsummer installment.

The $700 million fee to terminate a merger agreement with Canadian Pacific dented KCS’ second-quarter net income. But revenues were up 37% year-over-year.

The abrupt closure of K-Ratio’s fuel hedging program in late June has left trucking companies scrambling as they await answers from the Chicago-based company as to what happened and if they will recoup money owed to them since K-Ratio shuttered its fuel swap options platform.

Truckload’s operating ratio was better but OR deteriorated for dedicated.