The Trucking Freight Futures markets continued to plow higher across the board last week, reflecting the overall strength in the freight economy, as the spot National contract set another all-time weekly record by climbing $0.072, or 4.6%, to $1.652 per mile.
Orient Overseas Container Line briefly outlines performance for the second quarter and first six months of 2020.
“This outperformance once again demonstrates that we are in the right locations, and a focus on origin and destination cargo will continue to deliver the right balance between growth and resilience,” Sultan Ahmed Bin Sulayem says.
Roadrunner Transportation Systems to spin off global logistics segment, emerging debt-free in the process.
Intel RealSense, Righthand Robotics automate the warehouse sorting process
Raja Narayanan joins industry disrupter “at this pivotal time where the world is adapting to the new normal.”
No one knows how long freight will continue to break new records; only time will tell.
First Atlantic hurricane of the 2020 season could cause substantial flooding to south Texas and northeastern Mexico this weekend, delaying freight traffic at ports and land border crossings.
Contrasting with recent cases involving New Prime and Amazon, state’s highest court says transportation workers can be forced to go the arbitration route
While the storm is expected to weaken as it passes over the islands, Young Brothers pulls its interisland barges into calmer waters for the weekend.
More layoffs in Texas aerospace and freight services companies as coronavirus case numbers climb
Amazon Scout, the e-giant’s electric autonomous delivery robots, will now be delivering packages to neighborhoods in Atlanta as well as Franklin, Tennessee.
Wrecked car carrier, with some 4,200 vehicles on board, has been on its side in St. Simons Sound since September.
Carriers urged to verify security safeguards from suppliers before installing devices.
Trinity took a $369 million impairment charge because leasing small cube covered hoppers exposed the railcar lessor to the frac sand market.
Deal brings PS just over 40 new power units
Enterprises sometimes adopt several different SaaS products, only to end up with processes without cross-functionalities due to lack of integration.
The western U.S. railroad looks to take more market share away from trucks.
Chairman Michael Khouri explains how the U.S. Federal Maritime Commission keeps track of COVID-19-induced ocean container carrier sailing schedule changes for anticompetitive behavior.
The analytics function of this software can ultimately save fleets money, but it will be a team effort.
FreightWaves raised $37 million in two rounds of funding. Learn more about FreightWaves and Kayne Partners, which led one of the rounds.
Company raises guidance for the rest of the year.
P.A.M. Transportation points to automotive manufacturing closures as reason for second-quarter loss.
Fully driverless vehicles will take at least a decade to deploy over large areas, and adoption will occur at different rates across the country, according to an MIT brief.
Using a third-party administrator is touted as a way to ward off big verdicts against trucking firms.
American Airlines’ cargo revenue for the first half of the year was $277 million, or 37% lower than the first half of 2019.
Landstar’s earnings call outlines the company’s better-than-expected guidance.
Waymo is the exclusive technology partner for implementing self-driving technology across Fiat Chrysler’s full product portfolio.
Southwest Airlines wrote its second-quarter results in red ink — $1.5 billion to be exact. It is not alone. All airlines are suffering financially from the coronavirus crisis.
Thousands of crew members are stuck on board their ships due to COVID-19 restrictions. Learn more in Darren Prokop’s commentary.
Cautious optimism expressed for the June trucking market by analysts at both organizations
Developed by A.P. Møller – Maersk and IBM two years ago, the neutral platform was publishing 2 million events per day within a year and a half.
Coronavirus pandemic and economic uncertainty weigh on UP’s second-quarter earnings.
Volumes have been recovering swiftly, but headwinds make it difficult to predict when pre-coronavirus levels will fully return.
American Airlines lands $2.7 billion pretax loss in second quarter.
In today’s edition of The Daily Dash, autonomous-truck startup TuSimple may not be meeting revenue projections, Knight-Swift reports strong Q2 earnings, and a driver misclassification suit against New Prime reaches a $28 million conclusion.
Although the driver only worked in Massachusetts, he’s an interstate commerce worker. That changes the rules for settling disputes with the retail giant.
Canadian trucking and logistics firm Mullen Group reports a large drop in profits in its second-quarter financial results. But the company is positioning itself for recovery as business activity comes back.
Tesla will build its newest Gigafactory near Austin, Texas, chief executive Elon Musk announced during the company’s earnings call on Wednesday.
In second-quarter 2020 financial and operational results released after trading ended on Wednesday afternoon, Chicago-based third-party logistics provider Echo Global Logistics (NASDAQ: ECHO) reported gross revenues fell by 7.1% on […]
Landstar misses estimates in its second-quarter report, which included bonus payments to workers during the pandemic. New guidance better than expected.
It is the electric vehicle manufacturer’s fourth straight quarterly profit.
The COVID-19 pandemic and a slumping economy dent CSX’s earnings.
Brian Aoaeh continues a series of commentaries on technology-driven innovations in supply chains, logistics and trucking.
World’s largest container shipping line is “committed to a carbon-neutral future of transport and logistics.”
Despite a 12% drawdown in volumes, CP reached a record second-quarter operating ratio of 57%.
An Ethiopian Airlines plane suffers extensive damage in a fire at Shanghai Pudong airport.
“It landed us where we are now with a bigger win rate and more business,” said Jeff Paul at Simple Logistics.
TuSimple may be the country’s largest self-driving truck company, but according to a Wednesday report in the Information, the company is struggling financially.
Knight-Swift sees demand improve throughout the second quarter, producing a big earnings beat. The carrier raises its 2020 earnings outlook to a level higher than its original expectation.
The debate sees Craig Fuller take on Zach Strickland over the possibility of a market recession due to the unprecedented scenario that we witness today.
Unisot has created a blockchain-based platform that helps bring end-to-end transparency in seafood supply chains.
RLS says customers want a flexible, responsive alternative to PE-backed roll-ups.
Workers to be covered stretch back to second half of 2012 through this year
Volvo Cars is facing supply chain issues from factories in Mexico, according to CEO Hakan Samuelsson. Samuelsson said supplier issues in Mexico and lower demand for its S60 sedans were […]
Knight-Swift posts solid second quarter and reinstates full-year guidance to a level higher than before the outbreak.
“Other brokers could take a lesson from using this,” said Sam Kheir at Benore Logistics.
The COVID-19 pandemic dampened second-quarter revenue by 9%.
Roger provides digital tools for bulk freight shippers and carriers that reduce paperwork, and accelerate payment and real-time shipment status.
Open-platform technologies are allowing innovative trucking fleets to create custom technology solutions that increase driver productivity and improve customer service.
In today’s edition of The Daily Dash, FreightWaves introduces enhancements to SONAR; XPO’s Brad Jacobs discusses diversity, automation and more; and Schneider invests in a new tech platform.
The expectation that North American consumers will help drive intermodal traffic comes as the railway’s second-quarter volumes were hit by the coronavirus pandemic.
Latin American airline mobilized five Boeing 777 passenger planes to move 1,200 tons of N95 masks on board 39 cargo-only flights from China to São Paulo.
FreightWaves’ George Abernathy and Todd Davis talk benchmarking capabilities for brokers in virtual fireside chat at FreightWaves 3PL Summit.
Heartland Express announced the family trust of founder and current CEO will sell up to $76.9 million in stock. The family will still hold roughly 40% of the company’s outstanding stock following the transaction.
Company is leveraging rail service for its Transplace customers.
United Airlines got pummeled by the coronavirus pandemic in the second quarter, losing $1.6 billion before special charges. But cargo revenue jumped because of the huge number of cargo flights it operated without passengers to worry about.
Unadjusted net income for the second quarter falls nearly 60% from the same period in 2019.
Executives with Convoy and Johanson Transportation Service discuss two different approaches to carrier vetting and safety.
Some of today’s most innovative and disruptive companies in the logistics industry showed off their products during FreightWaves’ first virtual 3PL Summit on Tuesday.
Graft says on earnings call that by end of June, number of invoices being processed exceeded year-ago levels
Logistics REIT Prologis sees demand for space accelerate even as e-commerce activity recedes to near-normal levels. 2020 outlook raised on market tightness.
The digitalization of freight has logistics providers seeking automation and efficiency on a scale never before seen.
These factors are dampening lease rates and renewal activity, the company said during its second-quarter earnings call on Tuesday.
OffPeak praised for enabling Southern California distribution centers to operate second shifts.
The coronavirus’ whipsaw effect on the global supply chain took a toll on Kuehne + Nagel during the first half of 2020, but without a rapid internal response the hit would have been far worse, CEO Detlef Trefzger says.
Kenny Lund, executive vice president of Allen Lund Co., tells FreightWaves 3PL Summit that the fresh produce supply chain still has some growing to do, as coronavirus showed Americans that food shortages can still occur.
PACCAR beat the consensus estimate of analysts, posting second-quarter profits of nearly $148 million despite U.S. plants being closed for five weeks because of the coronavirus pandemic.
The FreightWaves SONAR 7.0 release features several key enhancements; each makes the data and analytics platform even more useful to subscribers. Lane Scorecard The first is the Lane Scorecard app. […]
XPO chairman & CEO Brad Jacobs said more efforts will be made within the company to address racial equality and ensure equal opportunities for employees as part of a wide-ranging Q&A session at FreightWaves’ 3PL Summit.
Ryder System has added Trucker Tools carrier engagement and freight-matching tools to its brokerage operation.
Plus.ai, the Silicon Valley-based self-driving truck technology startup, announced an agreement with the Transportation Research Center (TRC) to test Plus.ai’s self-driving system using real-world scenarios with multiple vehicles.
Logistics REIT Prologis reports stronger than anticipated second quarter and raises outlook for the remainder of the year.
Camera-focused company branches out further, with sensor-driven systems that can notify truckers of dangers on the road
SmartHop, a Florida tech startup that aims to support small trucking businesses, on Tuesday announced that it has closed a $4.5 million seed round.
Mercado Labs, a Dallas-based technology startup, has closed a $2.5 million funding round to help importers manage global supply chains.
Silver is starting by helping Schneider broker out its fleet of 38,000 orange boxes.
YRC loan called into question by Congressional Oversight Commission. YRC’s board may have had the same concerns with the company’s equity in 2019.
Walmart Canada plans to build two new distribution centers and upgrade its supply chain technology as it spends C$3.5 billion to grow operations.
Number and average size of invoices purchased both declined from 1Q 2020 and 2Q 2019
The increase in freighter flights at Amsterdam’s Schiphol Airport during the first half of the year was not enough to offset the dramatic drop in cargo transported by passenger planes.
Ridgeville, South Carolina, facility will create more than 1,000 jobs.
The Trucking Freight Futures markets continued their march higher last week, reflecting the overall boom in the freight economy, as the spot July National contract rose $0.023, or 1.5%, to $1.580 per mile.
Transship partners with Loadsure to deliver pay-as-you-go, wraparound insurance coverage for all perishable goods.
Patrick Bethelot, held on $275,000 bond, says he was planning ‘suicide by cop’ on Cincinnati-area interstate. Cops bring the rig to a stop with a .50-caliber bullet into the engine block of the truck.
Asset sales in Comcar’s pre-packaged bankruptcy have hit a roadblock. Obstacles include questions on trailer titles and the sale of the business units to the former chairman, who still has an unsettled dispute with the company.
Driver/dock worker was fired after leaving work early due to her period; two other XPO Black workers lose a second time
Owners of low-priced warrants for new shares and pre-merger discount buyers registered to cash out of electric truck startup Nikola leading to an after hours selloff on Friday, July 17.
Operational lower level essential to movement of goods and economic recovery.
The railroad plans to keep operational changes such as reduced train starts and longer trains even as volumes rebound.
