The previous “nuclear verdict” record is believed to be the more than $400 million award last fall, also in Florida.
FreightWaves was recently honored to receive the Technology Company of the Year at the Chattanooga Technology Excellence Awards, known as TechX. Presented by the Chattanooga Technology Council (ChaTech), the awards “recognize the community’s technology leaders, entrepreneurs, developers and professionals in all specialties with awards in 10 categories.” FreightWaves Founder and CEO Craig Fuller said, “On […]
The New York Shipping Exchange, a digital trading platform for two-way committed ocean contracts, announced it raised $15 million in its latest funding round.
Sustainable fuels and technologies are up against decades of perfecting the efficiency and economies of scale of the fossil fuel industry.
“Operating systems should learn from the behaviors of these shippers and LTL carrier partners, record these exceptions and apply learning from them for future automation.”
Does the search for a completely safe driverless truck mean that everything should wait for perfection? David Liu doesn’t think so.
The former Bank of Montreal is a lender to all levels of trucking, big and small.
“I think the difference in distinctions between the digital players and the — whatever you call the nondigital players, has become almost nonexistent,” said XPO CEO Brad Jacobs in its earnings call.
Yellow Corp. announced that its interim CFO, Dan Olivier, will assume the role permanently. The change comes as the company navigates a financial and operational transformation.
A ransomware attack on a maritime fuel storage provider in the Canary Islands likely didn’t live up to the hackers’ hype. But the incident reflects the very real cybersecurity risks facing the companies supporting the global shipping industry.
As this year’s peak season gets underway, dislocations in the supply chain are increasing. However, this is really nothing new as the industry has been in peak mode for a year.
The ruling by a judge at the county level is likely to be appealed and stayed before immediate implementation.
“We are very interested in areas where mobility collides with other themes. … Companies becoming more open to innovation will make these collisions much more frequent.”
Daimler Trucks North America’s participation in this round points to an increasing market for Truck-as-a-Service products, tools integrated during the manufacturing process to help fleets manage safety, privacy and intelligent automation tools.
Truckload carrier Heartland Express announced a 50-cent-per-share special dividend Friday. It was the second carrier to announce a special dividend this week.
It costs $1.2 million to charter a cargo jet from Vietnam as air exports slow because of the government’s response to a wave of COVID infections.
Also on the podcast: Trimble’s Delaney looks at the TMS landscape today.
“Companies have to make really smart bets,” supply chain consultant Evan Quasney said about planning for extreme weather.
“We strongly believe that expecting random carriers to digitally engage with you and book your freight without having a relationship is a strategy that has just never proven to be effective.”
The outlook for the pandemic hurt the company’s review last year, but Moody’s has a more positive view in 2021.
Freight forwarder JAS Worldwide announced it has entered into a share purchase agreement with forwarding, logistics and supply chain management provider Greencarrier Freight Services International.
You can’t blame carriers for refusing to stick by a handshake agreement to sell service at pre-negotiated rates or at a discount.
Ocean carrier ZIM now expects to earn $4.8 billion-$5.2 billion this year — five times what it earned in 2020.
Fleet and logistics provider Ryder System Inc. follows TuSimple deal with a partnership with Waymo Via.
Poole says the bill is a step away from the “user pays, user benefits” policy that has long been in place for infrastructure.
Marten Transport announced a special dividend of 50 cents per share. The payment marks the third straight year of special dividends for the carrier.
TuSimple Holdings trading approached three times its daily average on lockup expiration. Shares posted a small gain after tumbling for six weeks.
Truck broker Landstar System points to better-than-expected truck volumes and yield trends in the third quarter as reasons to raise its outlook.
“The list of integrations demonstrates a pivot in our strategic goals as a company to work more broadly in our customers’ favor. We can now partner with best in class solutions in various product categories in order to build out more customer value.”
14% more transport and logistics companies make the 2021 Inc. 5000 list, which features the fastest-growing privately held firms in the U.S.
“Traditionally, the private fleets have been very separate from the for-hire or public fleets. … With technology and innovations like this, we can help these small fleets go after the other half of the market.”
Keeping a handle on the driver experience is a priority at TreeHouse Foods.
FreightWaves selected for Inc. 5000!
“There was a lot of flexibility in their API that allowed us to do what we wanted to do with it, compared to others that had a lot of pre-built tools.”
Cervus Equipment is set to be acquired by Brandt Tractor in a $240 million deal that will take the Canadian Peterbilt dealer private.
A Michigan truck driver was sentenced to 25 years in prison Friday for his role in a multi-vehicle crash on Interstate 64 that killed one man and injured another driver in Franklin County, Kentucky, in September 2019.
DRIVE automatically spots areas for improvement so drivers can request coaching to boost their safe driving miles.
A Texas household goods trucking company with military contracts ceased operations and filed Chapter 7 bankruptcy on Tuesday.
Positive feedback from mechanics, dispatchers and management helped Day & Ross choose PowerFleet for its U.S. fleet.
“The FDC is also very focused on equity and inclusion. We are extremely proud that 54% of our network is woman-, minority-, and veteran-owned.”
If DoorDash acquired Instacart, it would create a formidable company, says one analyst.
Several customers have gone live with BravoTran’s technology, including Yusen Logistics and Mitsubishi Logistics of America.
The company will build a limited number of trucks in the fourth quarter for validation and regulatory clearance.
Titanium Transportation Group plans to add two more U.S. freight brokerage offices this year after the Canadian firm reported record second-quarter revenue.
Learn a bit about the evolution of temperature-controlled containers in the air cargo environment and how Envirotainer has added new technology features to its refrigerated units.
“The corridor is vital for everything from long-haul freight to movement of agricultural products,” Colorado officials said of mudslide-damaged areas of Interstate 70.
Kurt George of Property Damage Appraisers explains during a fireside chat at FreightWaves’ Cold Chain Summit why cold storage facilities are particularly vulnerable to ransomware attacks.
FreightWaves’ journalist Matt Blois chats with World Courier’s Alex Guite about how the COVID-19 pandemic has impacted the cold chain and how pharma and logistics companies adapted to distribute vaccines.
“Over more than two years of working with Parcel Perform, their solution has become our global track-and-trace solution,” said Davide Costella, global delivery services manager at Nespresso.
If certiorari is denied, the injunction blocking AB5 from being implemented in the state will disappear immediately.
The U.S. Senate votes to advance a major infrastructure package that includes new regulations for trucks.
Samsung employs Six Sigma methodology to create an efficient global supply chain.
“Iowa is now at the leading edge of the inclusion of blockchain in contract law here,” said CEO Spillman, as his team recently fought to have smart contracts recognized under law in Toggle’s operating state.
As freight markets enter the second year of peaklike conditions, FreightWaves caught up with Amit Mehrotra, Deutsche Bank’s transportation analyst, to talk about how this freight cycle will play out.
Autonomous truck software developer Embark Trucks is using Nvidia’s system on a chip for its plug-and-play autonomous system.
The decision is also seen as potentially being a legal precedent on the issue of non-compete contracts.
Workhouse Group is reviewing its electric delivery van designs to add cargo capacity and sold most of its stake in troubled Lordstown Motors.
A 26% gain in revenues helped boost BNSF’s net profits in the second quarter of 2021 to $1.5 billion.
Not to be a Luddite, but a world of trucker-free trucks is going to mean some minor trade-offs, including fleeting bouts of creepiness.
Canada Border Service Agency employees have ended a day-long work-to-rule strike after reaching a tentative agreement with the Canadian government.
Maersk results offer more evidence that capacity constraints and U.S. — not worldwide — demand drive rates.
Temperature-controlled warehouse operator Americold pulled in its 2021 outlook, citing labor-related food manufacturing limitations within its customer base.
The PPI for the truck transportation sector, after a huge jump April to May, slowed between the next two months.
Trucking, logistics and airfreight companies are collectively owed hundreds of thousands of dollars after a Texas freight forwarder filed Chapter 11 bankruptcy earlier this week.
Truck Talk is a weekly newsletter that seeks to bring perspective and context to industry news.
Air Transport Services Group is like a Swiss Army knife. It flies cargo and passenger planes for other airlines, leases aircraft, does aircraft maintenance and freighter conversions, and provides ground handling. It’s all clicking for the bottom line.
Also on the podcast: The investment drought in oil setting the table for higher prices
Growth was also seen further in the logistics supply chain, with warehouse and courier jobs also rising.
TuSimple is sitting on $1.5 billion in cash as it ramps up hiring and expands its autonomous freight network.
Richard Trumka insisted that the economy depends on getting an infrastructure bill passed.
Atlas Air is keeping eight jumbo jets by buying them from leasing companies. It doesn’t want to turn them in because it would have fewer assets available to meet customer demand.
The company says it is on track to hit record earnings this year.
The earnings report is for a 3-month period with no impact from the big Transplace acquisition announced in July.
Yellow says it is making progress toward its unified transport network strategy.
Trimble’s Q2 revenue totaled $945 million, up 29% year-over-year.
The Department of Energy’s Earthshots Initiative is allocating $52.5 million for clean hydrogen R&D.
Autonomous trucks without human drivers are still years away, but Plus shows what is possible on an open road in China.
Fleetcor is “finally moving past [its] pre-pandemic baseline,” Chairman and CEO Ron Clarke said during the earnings call.
Lawmakers use Trump-era reforms in the infrastructure bill to attract Republican support.
The union representing nearly 9,000 Canada Border Services Agency personnel warns of slowdowns at Canada’s ports of entry starting Friday as it issues a strike notice.
The Chaparral has a set of applications for national defense, including dust-off operations; casualty evacuation; and intelligence, surveillance and reconnaissance.
DHL Express has joined UPS in placing orders for all-electric cargo aircraft.
“There was an immediate synergy,” said AIT Worldwide Logistics’ CIO of the acquired companies’ culture.
Expeditors is a rare logistics “dividend aristocrat,” with dividend increases of 25 years or more. It is keeping that intact in 2021.
XPO Logistics said it will be closing a distribution center in San Antonio.
Kraft Heinz earns its place as a Shipper of Choice for the third year in a row as the food and beverage producer gains carriers’ respect through consistency and collaborative relationships while investing in making facilities more efficient.
Cummins beat analysts’ Q2 estimates on the top and bottom lines as it looks into making its filtration business a stand-alone entity.
The latest guilty plea brings the total to 26, with four of them in just the past seven weeks.
The Texas-based flatbed and specialized carrier raises 2021 full-year guidance for revenue of up to $1.6 billion.
Confident that the indictment of founder Trevor Milton won’t lead to legal trouble, Nikola focuses on supply challenges.
ENERGY’s customers now have access to a personalized web portal, which provides real-time data on inventory levels.
The long time board member had been interim chief since early this year
14% of carriers polled said they don’t understand what a 3G sunset means for their fleets.
Diesel sales were up 21.2% from last year, but were less profitable on a per-gallon basis
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.
