Business

Brokerage steals the spotlight at XPO amid a record revenue performance and strong 2021 earnings guidance.

An open letter from activist investor Ancora Advisors says “ineffective capital allocation” and diversification into “margin- and return-dilutive service offerings” have led to inferior results for Forward Air compared to other less-than-truckload carriers.

TrinityRail will permanently close a plant in Vidor, Texas, laying off 59 workers by April 30.

Old-school aerodynamics technologies such as TruckWings can contribute to economic and environmental sustainability.

SmartHop has secured a $12M Series A funding round with participation from heavy hitters Union Square Ventures and RyderVentures to scale its “business-in-a-box” solution for owner-operators and small fleets.

Self-driving truck technology startup Plus is already working on an autonomous freight matching project in China. Now it has investors there.

Maersk, the world’s largest container carrier, just reported record quarterly results. And its next quarter looks even better.

While optimism is returning to the economy, 83% of manufacturers expect their company to take up to a year to recover, according to a survey from BDO.

The embezzler will serve concurrent prison terms as well as pay restitution for unpaid taxes.

Third-party logistics provider Radiant Logistics beat expectations for its second fiscal quarter. The company’s improved results and low-debt profile are allowing it to pursue acquisitions.

The most important number, yield, is up from January 2020 for Forward Air.

The former owner of Sisic Transport admitted to altering thousands of logbook entries for his drivers, using Omnitracs’ automatic onboard recording device software.

Korean container carrier HMM expects equipment and capacity shortages to continue at least through the end of the first quarter.

Thanks to the congestion in Los Angeles, container rates and volumes in Savannah are both hitting highs. When will volumes stabilize?

TFI International CEO says it will take a hard line on UPS Freight customers who aren’t making the company money after its $800 million acquisition closes.

Yard management represents a costly blind spot for many shippers and their supply chain partners, according to a survey released by FourKites.

Less-than-truckload carrier Saia laid out expansion plans on its fourth-quarter earnings call. The carrier believes door count growth can exceed recent expansion efforts.

Old Dominion CEO Greg Gantt says nine service centers were added in 2020 and there are more to come this year — some of them soon.

Now carriers can see max bids and auction closing times on offered loads.

Less-than-truckload carrier Saia reported fourth-quarter results well ahead of expectations Monday. The company reported record operating results in a “most unique year.”

The Biden administration review of critical supply chains is aimed at reducing reliance on China for equipment.

All Nippon Airways is consolidating freighter operations at one of its Tokyo airports, and only relying on passenger planes to deliver cargo to Okinawa to save money after losing a lot of money in the first three quarters of its fiscal year.

CEO Dave Jackson says Knight-Swift “stepped up and we put a chunk of coin down to make sure all of our data stays private.”

“ZEBOX will assist innovative startups in developing new technologies in transportation, logistics, mobilities and industry 4.0,” says CMA CGM CEO Rodolphe Saadé.

Long grind ahead for crude tankers: Executives and analysts don’t see recovery until second half — if not later.

Supply chain software provider E2Open is now trading on the NYSE under a new symbol.

North American automotive and import opportunities could boost business for Universal Logistics during 2021, CEO Tim Phillips said during the Q4 earnings call.

A drop between December and January is normal, and the strong market did not reverse that.

The global chip shortage has been running rampant for more than three months now. U.S. senators urged President Biden this week to work with Congress to address this threatening problem.

Whereas at other times cheap capital might be an occasion to take bigger risks, this time, enterprises are not using their resources to expand outside their bread-and-butter business but instead to invest within it.

The number of jobs in the warehousing and storage sector also fell from December to January.

President Biden has pledged to pump funding into state and local agencies in a bid to make last-mile freight delivery smarter and safer.

Titanium Transportation Group becomes one of the largest trucking companies in Canada after acquiring International Truckload Services.

Business payments company FLEETCOR Technologies Inc. reported EPS 19 cents above estimates for the fourth quarter.

Retailers will want to pull forward inventory ahead of the 2021 peak season, the intermodal marketing company said. Fourth-quarter 2020 revenue grew by 6% although net profit slipped by 20% year-over-year.

A Wall Street research firm calls the performance “remarkable.”

The trucking and logistics company gained from strong demand and tight supply.

Universal Logistics’ operating revenues from truckload services in the fourth quarter decreased $8.7 million to $49.8 million.

Yellow Corp. is back. The holding company formerly known as YRC Worldwide has gone back to its roots. However, fourth-quarter results missed analysts’ expectations at a net loss of 37 cents per share.

The startup will use proceeds to more than double its staff as it prepares for growth in the industrial warehousing sector.

Slync.io, a Dallas-based operating system for global logistics, announced the close of its $60 million Series B funding round.

SmartHop is more than just a freight dispatch; its “business-in-a-box” tools distinguish it as a comprehensive solution for over-the-road-trucking.

Supply chain visibility consistently rears its head as a vital need.

One notable number in the company’s earnings is that even with growth in all areas, compensation costs were held in check.

What suggestions would you give new Transportation Secretary Pete Buttigieg? Our reporters share theirs in this FreightWaves roundtable.

Rents on U.S. logistics real estate advance amid pandemic-related headwinds during 2020. The annual Prologis Logistics Rent Index puts a bow on the year and takes a look at what 2021 has in store.

New capital at newtrul will enable expansion of the supplier base to support growing demand, feature enhancements, APIs and TMS integrations.

Weathering the COVID pandemic drove Volvo Group sales lower in 2020, but market share was stable and new orders are pouring in.

Schneider National plans to use its strong cash generation capabilities to reinvest in the fleet during 2021. The carrier will also look to allocate growth capital to its dedicated and intermodal offerings.

Forward Air was on track to beat its Q4 estimates before the December cyberattack.

“It’s been really easy to get the band back together,” says CEO Jason Provonsha.

Schneider National posted fourth-quarter results ahead of analysts’ forecasts on Wednesday. The company’s 2021 outlook is largely in-line with the current consensus estimate.

The deal benefits TFI’s freight-centric culture and allows UPS to shed a noncore asset, Tomé says.

Supply chain technology provider Manhattan Associates bests fourth-quarter forecast and raises 2021 guidance. Management sees “robust” global demand for cloud solutions.

Amazon announces a leadership shift as it crushes fourth-quarter 2020 estimates and reports $125 billion in revenue.

Ocean Network Express takes giant profitability leap — from $5 million to $944 million year-over-year.

Call Cainiao the Amazon Logistics of China. When most of China normally takes a break for the Lunar New Year, Cainiao will still be delivering packages to Hong Kong this year.

EKA Solutions’ TMS is gaining traction among small and midsize carriers and brokers with “high adoption rates.”

Compliance with record-keeping regulations is a time-consuming task that can easily fall through the cracks as busy fleet executives focus on day-to-day tasks.

Scott Ruffin’s company is poised to exploit weaknesses in legacy delivery networks to take B2C share.

Logistics provider ArcBest sees positive tonnage trends continue in the first quarter. The less-than-truckload carrier is attempting to break the historical margin decline seen from the fourth quarter to the first.

2020 brought disruption and volatility. But dealers, against all odds, actually performed much better than expected.

Pete Buttigieg wants to push through an infrastructure package that links highway funding to electric vehicles and climate policy.

U.S. Xpress will become the latest carrier to adopt Platform Science’s technology platform, allowing it to deploy third-party and custom apps without the need for added hardware.

SONAR is the leading freight forecasting platform. Two recently added SONAR indices are proving very useful to SONAR subscribers. Learn more.

E-commerce and shipping solutions provider Pitney Bowes reported “the highest modern-day, organic growth rate on record.”

Fuel Transport is the latest Canadian operator to install project44’s visibility technology.

UPS reports all-time annual records for revenue and earnings per share.

Logistics provider ArcBest reported better-than-expected results for the fourth quarter Tuesday. Less-than-truckload tonnage increased by double-digit percentages as weight per shipment jumped 10%.

Forward Air is the latest transportation provider to implement general rate increases amid a tight capacity environment. The company’s 6% GRI will apply to all shipments.

Four Israeli companies have secured contracts with Pointer in the past year.

YRC announced Monday the further expansion of its regional next-day service at YRC Freight. This rollout will make the service available out of 13 terminals throughout the mid-Atlantic.

After a difficult 2020, optimism about the supply chain is running high this year — and 11 industry leaders have identified several opportunities for growth with their predictions for the rest of 2021.

Ryder will provide three hours of paid time off for each of the two COVID-19 vaccinations.

HubTran boasts over 1 billion processed documents, 99% accuracy and $50 million saved.

Only a week removed from the $800 million purchase of UPS Freight, TFI International is back at it. On Monday, the company announced the acquisition of van and flatbed carrier Fleetway Transport.

Supply chain visibility companies Tive and project44 have joined forces to launch the Open Visibility Network in an effort to encourage collaboration and improve end-to-end shipment visibility.

Another issue in the earlier trial: Did the driver blow his horn?

Despite strong Q4, Daimler Trucks likely to miss analyst consensus on sales and profits based on parent company’s forecast.

An interview with flatbed carrier Daseke outlines the company’s operational focus and plan to get back to growth through acquisitions.

According to recent survey data from Bringg, same-day delivery will become a status quo offering from retailers in 2021. But is it the right move? Not for the vast majority of retailers. Here’s why:

A federal grand jury has indicted a former fleet manager of Builders FirstSource, a publicly traded construction products manufacturer, alleging Steven Duety used company credit cards to defraud his employer of $1.6 million.

DSC Logistics, a Chicago-area third-party logistics provider, says it was a victim of a ransomware attack after hackers threaten to release stolen data.

Airspace moves goods fast, with a mix of technology, air transport, ground couriers and people who literally carry a critical product on a flight and to one’s door. Investors just gave the company a big pile of money to play with.

Automakers called on the Taiwanese government Tuesday to persuade Taiwan chip manufacturers to reallocate production capacity for the auto industry. It looks like those pleas for help were heard.

Flatbed truckload company Daseke beats earnings per share estimates in the fourth quarter but revenue and operating ratios slide. 2021 guidance provides a bit of a mixed bag.

NYSHEX aims to eliminate ambiguity from containerized freight contracts. ‘We make it crystal clear exactly what the carriers and shippers are going to do.’

Could DB Schenker be the next TFI International? TFI just agreed to buy UPS Freight. DB Schenker is ready to become a pure play trucker in the U.S. and will be looking for sellers.

Six people, including the owners of two defunct trucking companies, face multiple charges after federal prosecutors claim they submitted fraudulent loan applications to obtain $1.5 million in funds through the U.S. Small Business Administration’s Paycheck Protection Program (PPP).  The U.S. Department of Justice said Thursday that it has charged Rodericque Thompson, 43, of Atlanta, Micah […]

In what amounted to an “encore,” the end of the Q&A didn’t mean an end to the discussion on Variant and its role in USX’s future.

Fuller: Variant initiative was 9.4% of truckload revenues in fourth quarter

Truck broker Landstar System expects high demand and elevated truckload rates to carry through the first quarter of the year. However, the company’s CEO has a bit of a contrarian “pessimistic” view for the second half.

Nominate industry-leading shippers for FreightWaves’ annual Shipper of Choice award.

Truck broker Landstar System set records in the fourth quarter. The company is expecting the high-demand environment and improved truckload pricing to carry through at least the first quarter.

Canadian Pacific reported a fourth-quarter operating ratio of 53.9%, a record low. Fourth-quarter net profit was CA$802 million, up nearly 21% year-over-year.

Hapag-Lloyd credits higher freight rates and lower bunker prices as “the main drivers of these positive business developments.”

Knight-Swift Transportation reports a big jump in results during the fourth quarter. However, while some may view this as a victory lap, investors appear to be calling the end to the TL trade.

Uber Freight has rolled out a free rate-locking tool for small and midsize shippers.

Alaska Airlines’ parent company is one of the better managed airlines in the industry. Its financial results during a pandemic year show why.

Grocery is the only retail segment that has maintained (and even grown) its e-commerce penetration since peak levels in March, indicating the new normal is already here. The new normal is a much higher level of online demand, and grocers are getting wise about their fulfillment methods.