Just like its other Class I counterparts, CSX grappled with lower volumes year-over-year in the third quarter as the broader economy recovers from the COVID-19 pandemic.
Documents indicate company was in a financial bind before private equity company Teleo scooped it up
JAXPORT is there to help as consumers shift from a shop-till-you-drop mentality to a shop-till-it-drops reality.
Knight-Swift Transportation’s third-quarter report provides an earnings beat, a 2020 guidance raise and a better-than-consensus first take at 2021 earnings as the carrier sees “strong freight conditions” continuing.
Rating is non-investment grade; agency notes that the company has been mostly growing through acquisitions rather than organic
The self-driving vehicle company announces new leadership hires; claims 600 employees.
The carrier sought relief from commission regulations earlier this month as part of its efforts to recover from a crippling cyberattack in late September.
Higher rail volumes continue to be a trend in the fourth quarter, but the pace of volume growth could depend on how the COVID-19 pandemic plays out this winter.
Demand is reducing inventories while sales remain strong, leaving no cushion before sales ramp up as they do in November and December.
Knight-Swift Transportation raises its 2020 outlook and provides 2021 guidance that is well ahead of recently raised expectations.
Revenue growth in the railcar lessor’s international segment and in its portfolio management program affiliated with Rolls-Royce helped offset losses for its North American segment.
OMERS Private Equity is considering selling Kenan Advantage Group, the tank truck carrier and logistics provider, according to a report in Bloomberg.
P.A.M. Transportation Services sees a “marked improvement” as its auto manufacturing customer base gets back to work. The carrier expects “upward rate pressure” as truck capacity tightens.
A $4.8 billion run rate for the quarter is expected to be at $7 billion by the end of the year: Triumph Bancorp CEO Graft
Zero-emissions credit sales drive Tesla profitability; heavy-duty truck manufacturers to access REC markets
Logistics real estate investment trust (REIT) Prologis beats third-quarter expectations and raises guidance. Conditions have improved and the runway for e-commerce-related growth appears long.
The railroad has 1,000 acres it can develop with partnering customers.
The ocean container industry association files an agreement with the U.S. Federal Maritime Commission to ensure its collective activities do not violate the Shipping Act.
TruckX has introduced a ruggedized wired ELD setup, which reduces the operational difficulties that come with using a bluetooth ELD solution.
The Agriculture Transportation Coalition, together with TradeLanes, surveys hundreds of American shippers about the cost to their bottom lines of uncommunicated earliest return dates from ocean carriers.
“Software platforms are no longer a luxury use, it’s a necessity,” said UTECH President and CEO Yuriy Nekrasov. “Carriers can no longer afford to wait before implementing technology.”
Logistics real estate investment trust Prologis records a better-than-expected third quarter and modestly raises its 2020 guidance.
PACCAR Inc. earnings fell in the third quarter but the maker of Kenworth, Peterbilt and DAF Trucks continued a string of beating earnings estimates.
Push to capture small-business share of the B2B e-commerce market continues for Chinese giant.
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Barry Engle and his Qell Acquisition Corp. raised $380 million to invest in a next-generation mobility startup. But how many great candidates are left in the SPAC craze?
At $1,931, it’s up from both the second quarter of this year and Q3 of 2019
Still not under indictment are any of the individuals who allegedly planned the crashes and the doctors who treated the indicted “slammers.”
OOIDA says changes must stay in place to help reverse the rising crash rates.
FreightWaves CEO Craig Fuller was interviewed for the podcast “The Business of Content.” Read highlights here.
Former Port Authority of New York and New Jersey executive takes over at IICL from Steven Blust, who will continue in a senior adviser role.
Fleetpal is built on VMRS, the universal coding system, allowing it to track and segment equipment failure and operating costs efficiently.
The National Customs Brokers and Forwarders Association of America’s general counsel Ed Greenberg looks forward to spending time with his grandson.
Werner, STG Logistics and ZIM add board members; Port of Oakland, Avetta and Raymond James make appointments.
The CARES Act oversight commission is still waiting on a response from the Defense Department regarding its “national security” designation of YRC Worldwide, which allowed the carrier to obtain a pandemic relief loan.
Minnesota-based Stan Koch & Sons Trucking has agreed to pay $165,000 to settle a EEOC lawsuit stemming from allegations the carrier retaliated against a former truck driver.
The Cass Freight Index booked 7% sequential gains in shipments and expenditures during September.
Executives are confident about an economic recovery but uncertainty persists over how much volumes will grow in the fourth quarter and into 2021.
Shares of J.B. Hunt Transport Services move 9% lower after the company fails to meet recently raised analyst expectations. Intermodal service headwinds and elevated costs were the culprits.
Bottom line on operating and net income largely unchanged; revenues up but costs were too
Navistar tells TRATON it can buy the company for $44.50 a share, or about $3.7 billion, slightly more than TRATON’s final offer and almost $10 more a share than its $2.9 billion bid in January.
Genuflecting toward Wall Street has symbolically become part of the North American Class 1 rail company culture.
Volvo Group Q3 sales and earnings trailed last year. But a recovery in heavy-duty truck orders and market share gains in North America improved a bleak picture.
Lower operating expenses drove the increase in third-quarter net income.
FreightWaves CEO Craig Fuller appeared on the A Media Operator podcast. Read highlights of the podcast here.
J.B. Hunt Transport Services misses 3Q estimates by 9 cents per share. Revenue and operating income climb 5% but a variety of cost inflation and a tough truck brokerage market weigh on the quarter.
$1.65 billion borrowed is more than rental car company had been seeking
How do you prepare for the Super Bowl if you don’t know who your opponent is? That’s how airlines and freight managers feel about preparations for transporting a COVID-19 vaccine when one is approved because manufacturers aren’t freely sharing shipping details.
While COVID-19 helped increase e-commerce sales volumes, retailers struggle to manage lengthening holiday season lead times.
The Western States Hydrogen Alliance will focus on maximizing rollout of hydrogen fuel cell electric technology across multiple commercial sectors in 13 Western states.
Income per share beat consensus but total and truckload revenue disappoints; stock falls in after-market trading
Hybrid drivetrain maker Hyliion takes a preorder of up to 250 Hypertruck ERX systems from American Natural Gas, securing discounted fuel for Hyliion customers as well as new fueling stations near customer locations with no up-front costs.
Port of Virginia gets $20.2 million for container yard expansion.
Total revenue at the company, the first carrier to report third-quarter earnings, was up more than 20%
YRC subsidiary can’t produce evidence of any female drivers at Olive Branch facility since at least 2005
Agility Robotics, a maker of legged, walking robots, announced Thursday the close of a $20 million investment to meet demand from logistics providers and e-commerce retailers. DCVC and Playground Global […]
Final rule streamlines launch and reentry requirements for burgeoning commercial space industry
German container carrier now expects 2020 EBITDA of between $2.8 billion and $3.04 billion.
Teamsters and YRC Worldwide agree to implement $7,500 hiring bonuses to new drivers. YRC will select the regions for the new bonus pay but the local unions have the autonomy to decline them.
Collaboration with Navistar allows Zonar customers to see OnCommand Connection vehicle data within its platform.
Fashion industry incumbents that have failed to adopt technology to strengthen their business models are at significant risk, particularly as the pandemic accelerates a number of trends.
Having the right technology and technology partner increases business intelligence that can help shippers navigate uncertain times.
With two more major carriers actively sharing information, data on nearly half of the world’s ocean container cargo is now available on a single blockchain-based data platform
“Regardless of who wins the upcoming elections, our country is in desperate need of a cohesive export plan as well as an infrastructure program and a digitization strategy for ports across the country,” says Executive Director Gene Seroka.
United Airlines lost more than $2 billion in the third quarter, but the cargo division did its part to stabilize finances.
Torch’s technology creates an experience tailored to the needs of shipments under 550 miles.
Complicated transaction puts the valuation of the SaaS company at about $2.57 billion
A federal appellate court overturned the convictions of former Pilot Flying J President Mark Hazelwood and two members of his sales team on Wednesday in a fuel rebate scandal that rocked the truck stop dynasty.
Autonomous vehicle company Waymo provided a glimpse of its autonomous truck technology in a blog post this week, as the Alphabet-backed startup best known for self-driving passenger vehicles steps up […]
FlockFreight pools together LTL freight and ships it via shared truckloads in full truckload containers instead.
COVID’s disruptions have created an acute awareness of the need for innovation.
New product will combine Drivewyze communications systems with other data to provide warnings on a longer list of troubles up ahead
FEMA is trying to plan ahead for supply chain bottlenecks related to pandemic response and says it needs private sector help. New antitrust immunity on information-sharing should help.
Austin-based FloorFound manages the return process of furniture, appliances and other oversize items.
A California-based trucking and warehousing company, forced to cease operations more than a year ago, filed for Chapter 7 liquidation.
A court-appointed receiver has assumed control over Canadian cross-border trucking companies Kings Cargo Express and Canada Cargo Lines in Manitoba, which owe CA$2.2 million to Toronto-Dominion Bank.
Omaha-based Manning’s is focused on agribusiness, adds 15 employees to FitzMark
Redwood Logistics on Tuesday announced it has added payment processing capabilities from TriumphPay. As Redwood’s primary payment partner, TriumphPay will handle all carrier payments, allowing trucking companies to manage their […]
GameAbove Capital takes equity stake in Pro-Tech Group’s patented technology for better utilization of empty railcars.
Delta Air Lines (NYSE:DAL) reported quarterly losses of $3.30 per share, which missed the analyst consensus estimate of $3 by 10%. This is a 242% decrease over earnings of $2.32 […]
S&P Global Ratings extended its bullish appraisal of electric vehicle maker Tesla (NASDAQL TSLA), upgrading the company’s debt rating from B+ to BB-. The raise puts the electric automaker just […]
Cold storage operator Americold expands its portfolio again, this time in a $1.74 billion bid for the world’s fourth-largest provider. Americold plans to offer 33 million common shares in total to facilitate the deal.
The top 25 freight forwarders are now only winning 30.5% of the freight they bid on, as opposed to their previous rate of 53.3%.
Sikh driver community is very active, sending in big number of comments on FMCSA’s fact-finding mission
A look at how college English major Amy Davis navigates hydrogen fuel cells and other alternative energies at Cummins, the trucking industry’s top engine maker.
Data and commentary point to an earnings blowout for trucking companies in the third quarter with the likelihood of similar results in the fourth quarter. However, headwinds surrounding driver recruitment and retention present a hurdle to the rally.
Saudi Arabia-based Tachyon joins the Blockchain in Transport Alliance.
A different future for The Apple Store?
The less-than-truckload industry continues to expand its footprint. Saia Inc. has added terminal capacity again, this time transitioning into a new 200-door terminal in Memphis, Tennessee.
The Canadian government will invest C$33.4 million in the inland Quebec port.
Company scrambles to set the record straight after drivers are mistakenly told settlement instructions were part of phishing attempt
The technology needs to be modular, meaning you can pick and choose how you want to instrument your fleet.
Denny Slagle retired as Volvo Group executive vice president and Mack Trucks president in 2018.
Truck drivers for Dallas-based Trinity Logistics Group say they were blindsided by the carrier’s recent decision to close its heavy-haul operation.
A ransomware gang has posted thousands of files after a cyberattack on Daseke, exposing truck drivers’ personal information.
The vote to complete a reverse merger for commercial electric pickup startup Lordstown Motors is set for Oct. 22 amid greater than run-of-the-mill business risks.
The Port of Charleston set a September record by handling 195,101 TEUs.
Commodity diesel prices are higher for the week but most of that gain came several days ago
The U.S. Federal Maritime Commission will consider a change in its regulations that would allow filing of service contracts up to 30 days from the agreement’s effective date.
Listed carriers are poised to post stellar third-quarter numbers on higher rates and volumes.
