United Airlines isn’t sugar-coating the airline industry’s economic reality. United expects to survive the coronavirus crisis, but business will be slim for months to come.
Company reports 30% plunge in revenue during month, but CEO Tim Phillips hopes the resumption of auto and heavy truck plants will bring some relief this month.
Online shopping surge, coronavirus breed new e-commerce alliances
Shippers and forwarders will be cautious with how much cargo they commit to the ocean container carriers this contract season, industry experts say.
“So All Forward not only gives us access to rates, but it gives us the platform to get opportunities,” said Derek Scarborough of Global Logistical Connections Inc.
COVID-19 can accelerate many existing but slow-moving trends in the industry as it has forced changes in behavior and altered industry priorities.
“Each morning at 6:00 a.m., Chris Hoisington at Kraft Heinz receives an emailed report detailing everyone who touched the forklift on the previous day.”
Magnus Technologies offers a solution that can run the entirety of a trucking fleet’s business operations over a single platform.
Trimble is adding an alert service to its navigation and routing apps to notify drivers when speeds are reduced up ahead due to work zones or other incidents.
Hub Group’s first quarter miss included several one-off expenses unlikely to recur. However, volume headwinds are expected to persist in the near-term.
Several steps being taken will affect the supply chain
ULH withdraws 2020 outlook and suspends dividends after slowdowns in retail and manufacturing weigh on first-quarter financial results.
A family-owned Massachusetts trucking company fell victim to a ransomware attack
From slashing salaries to borrowing money to get to the other side of the COVID-19 pandemic, suppliers Meritor and Dana are keeping electrification programs on track while slowly restarting production.
The drop in North American rail traffic could push railcar leasing rates lower.
The autonomous trucking outfit has so far avoided the economic carnage that has hit other startups in the self-driving industry
Combined transportation and logistics powerhouse grows gross profit despite impact from COVID-19.
Trucking Freight Futures prices continued to tumble and were lower across the board for a sixth consecutive session on Wednesday as the spot National contract closed lower to $1.329 per mile.
International association of forwarders says members have tools and knowledge to ease container-shipping pain of the COVID-19 pandemic.
A better than expected first quarter yields to expectations that a recovery may not occur until June. Some of Schneider’s customers are starting up again, but demand in May will likely be choppy.
While others have seen a decline in shipments, April held firm: CEO
Orbcomm operates in transportation and distribution, heavy equipment, industrial fixed assets, oil and gas, maritime, mining, and government.
Schneider Logistics is seeking to smooth and expedite the process for paying carrier partners by pairing TriumphPay’s payment solutions with Transflo’s document management tools.
American is slashing expenses, but not fast enough to stop big profit losses. Here are the details on its first quarter and what it expects going forward.
The views expressed here are solely those of the author and do not necessarily represent the views of FreightWaves or its affiliates. On Friday, April 17, FreightWaves ran my Commentary: […]
Schneider reports TL volumes are down upper single-digit percentages in late April, but notes that some of its customers shutdown by COVID-19 are set to come back online.
Fewer brokers and more engineers make operating costs less flexible, and we question the “take market share” mantra.
Boeing took a big loss in the first quarter and the rest of the year doesn’t bode better for a company plagued by ongoing technical problems with key products, and now facing little demand for aircraft.
Regulatory credit sales and streamlined operations helped drive the electric vehicle maker to its third consecutive quarterly profit; CEO Elon Musk rages against the coronavirus lockdown
Trump and Republicans at odds over using pandemic as bridge to transportation funding.
Digital freight brokerage Transfix laid off about 10% of its staff on Tuesday
COVID-19 pandemic challenges American seed producers to secure airfreight capacity to meet spring planting.
Mayor Eric Garcetti grateful for “lifesaving purchase agreement” with Honeywell.
Uncertainty beyond loss-making second quarter concerns Daimler leaders, though robust supply chain and cash position suggest fast production ramp-up when economy recovers
Trucking Freight Futures were lower across the board for a fifth consecutive session on Tuesday, as freight volumes and the uncertainty of economic recovery weighed on the market causing the spot National contract to fall 0.74% and close at $1.339 per mile.
The cuts to train starts are part of the railroad’s wider objective to implement precision scheduled railroading.
Accelerated depreciation it set at a “trough” level from 2002
Saia’s first quarter performance placed its recent terminal expansion campaign on full display. Unfortunately, COVID-19 headwinds will mask near-term results.
The new tracking system allows real-time monitoring of transported goods across a variety of markets including food & beverage, pharmaceuticals and micro-mobility.
FourKites has introduced an interactive map that tracks congestion and delays at border crossings and ports around the world while DriverReach and Trucker Tools have added solutions aimed at improving driver efficiency.
Small fleets file for Chapter 7 bankruptcy in April
Darren Prokop explores the reasons for the huge drop in oil prices and what the ramifications are because of the drop.
Like other railroads, Norfolk Southern is feeling the effect of lower rail volumes because of the coronavirus pandemic.
Saia’s multi-year terminal expansion project drives earnings results well ahead of expectations.
Ford has invested $500 million in Rivian and participated in the startup’s $1.3 billion investment raise in 2019.
Resilience360 recently released reports analyzing the impact of COVID-19 on trade between the United States, Canada and Mexico.
Favorable customer mix to make Werner’s truckload model a little more defensive through the downturn.
Werner believes its consumer-heavy shipper base will allow the company to ‘more effectively manage through’ the downturn.
NAST margins were squeezed to 13.19%.
Regulatory guidance is expected to be significant to American shippers facing container availability charges from carriers and marine terminals during COVID-19 pandemic.
Cummins saw a tough environment for most of its segments in 2020 before the word pandemic became common. Now it is depending on its collective experience in managing bad times to pull it through again.
Hong Kong-based shipping line says first-quarter volume was down less than half a percent despite pandemic.
UPS faces economic and other challenges in the wake of COVID-19.
Trucking Freight Futures were lower across the board for a fourth consecutive session on Monday, as freight volumes and the uncertainty of economic recovery weighed on the market, causing the spot National contract to finish down $0.01, or 0.74%, to $1.349 per mile.
Maker of AI-powered suitcase ramps up intelligent robotics warehousing solutions.
Southwest Airlines is not used to losing money in any quarter or full year, but that will change in 2020.
The effect that the coronavirus pandemic is having on rail volumes could get worse in the coming weeks before things get better, according to executives.
Covenant continues to reshape the company in efforts to better focus on contract logistics and improve its financial structure.
Revenue and profits look bleak for second quarter, but leading engine maker Cummins surprised analysts with better-than-expected first-quarter revenue and profits.
The smallest of the standardized ocean containers in the global fleet remains ideal for dense, heavy agricultural goods, forest products, and machinery shipments.
Charging-as-a-service startup AMPLY Power raised $13.2 million from institutional investors Soros Fund Management and Siemens USA as it expands electric infrastructure management to commercial trucking from transit buses
The railway managed to boost its first-quarter net income despite the February rail blockades and the COVID-19 pandemic.
Global freight forwarder attributes most of the 23.2% year-over-year first-quarter earnings drop to impact of COVID-19 pandemic .
Employees will test devices that vibrate when wearers come too close to protect them from coronavirus infection.
For a third straight session on Friday, Trucking Freight Futures were lower across the board, capping one of the worst weekly performances since the contracts began trading, as volume concerns weighed on the market.
The COVID-19 pandemic has created the need for social distancing, even while working. For the freight industry, the adoption of autonomous vehicles might be a good start.
Service contract negotiations between container carriers and shippers are being disrupted by the COVID-19 pandemic, the U.S. Federal Maritime Commission says.
A CFO, government affairs VP and two life science sales directors are hired and a Florida Customs Brokers & Forwarders Association board appointment is announced.
Moseley Marcinak review some legal trucking issues arising from COVID-10.
Trump signs bill carving out $60 billion in loans specifically for smaller community-based lenders.
The 12 members of Reopen Jacksonville will advise the Florida city’s mayor on the easing of stay-at-home restrictions put in place to slow the spread of the coronavirus.
It was down session for Trucking Freight Futures as the market fell across the board for the second consecutive day on Thursday with the spot National contract down 0.9% to $1.367 per mile, driven lower by pressure in the East.
Farms of major row crops like tomatoes or potatoes are usually highly mechanized and could escape the wrath of COVID-19.
“There’s a growing understanding of the importance of them, the agility of them and how they help service communities.”
Revenue per hundredweight is suffering as a result: CFO
Daimler AG revealed difficult first-quarter results, removing mystery from next week’s earnings report, which shows all segments struggling, including its truck manufacturing business.
The western U.S. railroad can deploy additional cost reduction measures, but how much cost savings it can realize from those measures will depend on how much rail volumes fall in the second quarter.
Can the CARES Act help transportation-supply chain companies during the pandemic? Kayla Matthews explains why the answer is “yes.”
Frayt, a Cincinnati-based tech startup, expands service to address uptick in home deliveries
Trucking Freight Futures were lower across the board on Wednesday as the overall health of the economy weighed on rates with the spot National contract falling $0.012, or 0.9%, to $1.375 per mile.
Brian Aoaeh interviews CEOs of several supply chain tech startups about their status during the pandemic.
Landstar has seen volume declines accelerate in recent weeks and management believes that a recovery is unlikely until the automotive and building products segments resume activity.
As the COVID-19 crisis deepens, it is critical for logistics workers to make sure they stay safe as they continue to keep the economy running.
“We expect that more shippers will shift from just-in-time supply chains to just-in-case supply chains,” U.S. CEO Mark McCullough said.
Even before the COVID-19 pandemic the Class I railroads were mothballing freight cars – and locomotives. Jim Blaze examines the issues surrounding the surplus of locomotives.
Other metrics helped the LTL carrier post a new record.
Rush Enterprises, the largest seller of new and used trucks in the country, posted solid first quarter results but is concerned about coronavirus-related carnage to come.
Transportation invoice volumes fall 7.5% for payment services provider Cass Information Systems.
Heavy-duty truck maker AB Volvo saw business seize up in mid-March but exited the quarter with lower but still positive sales and profits.
Despite lower revenues, the western U.S. railroad saw its first-quarter net income increase as the company trimmed quarterly expenses by 10%.
Jason Bates will fill the vacant CFO role at Daseke after three years in the same role at USA Truck.
o hedge against rail volume uncertainty in the second quarter, CSX aims to control costs.
Canadian transportation and logistics company says it laid off or furloughed 1,000 employees as it posts first-quarter results.
Margins widened again in April, but revenue per day is down 12%.
Ike has laid off 14% of its staff
Landstar System calls attention to its variable cost model as first quarter falls short of expectations. No guidance issued for second quarter.
CSX’s (NASDAQ: CSX) first-quarter net profit fell 7.7% amid lower revenues and a record operating ratio. First-quarter 2020 net income was $770 million, or $1 a share, compared with $834 […]
Final steel floor beam lifted into place two years after assembly of main span got underway.
Convoy and FourKites announced new dashboards and emissions-reduction tracking tools to help shippers identify their environmental footprint.
It was a mixed day on Tuesday in the Trucking Freight Futures markets with uncertainty looming as to where rates may head in the near-term.
