Workhorse Group, a technology company focused on offering sustainable mobility solutions, announced a new public offering of its common stock to raise additional funds as it works towards profitability.
Overall revenue at Roadrunner is up, but it remains burdened by high interest charges necessary to have given the company a strong capital base.
A trucker hands over documents to a US Coast Guard petty officer at the Port of Baltimore.
XPO’s Last Mile business in Canada previously had been serviced out of retail stores. Now it has its first facility.
Redwood Logistics recently announced the launch of Redwood Mexico, a new service aimed at untangling the complicated process of shipping to and from Mexico.
Uber shut down its self-driving truck platform last week but promised in an exclusive interview with FreightWaves that Uber Freight was not going anywhere. Today, the company has not only confirmed that promise, but it has doubled down on the future of Uber Freight.
The company reported good growth in air freight.
Cashflow Corner presented by TriumphPay …Short-term insurance plans can be a life saver during gaps in coverage, but with new rules allowing them to extend up to 3 years, it’s important to understand what they cover and what they do not.
Opus9 launched its digital platform, automating every step of the truckload and LTL shipping process, Tuesday. The new platform is intended to “digitize an old industry and bring it forward,” according to Vice President of Product Management Jeff Hiller.
The waiver granted by FMCSA covers the federal code governing truckers, but only for their activities involving aiding the efforts to fight western wildfires.
Daseke purchased the Memphis-based steel and aluminum carrier for $53.8 million, including $3.4 million in Daseke stock. Builders Transportation reported an estimated $72.4 million in revenue and an estimated $9.7 million in Adjusted EBITDA for the trailing 12-month period ended June 2018.
In today’s pickup, CEOs on analysts calls don’t see a peak and see better driver retention for their companies. Also: OPEC output and a change in Chinese scrap policy.
So much for the summer doldrums. New truck orders, which typically take a dip in the summer months as both carriers and OEMs reset for the fall, hit a new all-time high in July, according to the latest data from ACT Research.
Receipts from the June IPO allowed a significant reduction in debt while other initiatives cut its OR to the lowest level in years.
Schneider National became the latest carrier to announce that it has benefited financially from the strong pricing and capacity squeeze when it announced its second-quarter operating revenues were up 15% year-over-year.
ArcBest Corporation (NASDAQ: ARCB) recently finalized a new 5-year contract with the International Brotherhood of Teamsters. The new contract brought “major gains” for members, including vacation restoration, wage increases and health benefit preservation.
There has been other legislation trying to get livestock haulers a further exemption to the ELD rule, but this one has gone further,
A very strong quarter for the 3PL, though a mixed message on the impact of ELD enforcement.
Truck drivers involved in certain behaviors are more likely to have a future crash, ATRI research has concluded.
Tolls once graced Connecticut highways until the mid 1980s, but the state is now looking at bringing them back to increase revenue. The state trucking association says it is the wrong approach.
A letter from two U.S. Senators has spurred CVSA to begin looking at its role in enforcing a rule on truck underrides.
Cummins Inc. announced record earnings for its second quarter this morning, and that news was immediately overshadowed by an engine recall that has already impacted 230,000 vehicles and now will encompass an additional 500,000 heavy-duty truck models.
Chaos at the New York bus terminal could be a sign of a driver squeeze at Greyhound, but likely isn’t the result of federal regulations.
Toyota Motor has been testing a Class 8 hydrogen fuel cell truck in port operations in California, but yesterday it took that program to the next level with introduction of Version 2 of the truck with more range and other features.
Cashflow Corner presented by TriumphPay …When it comes time to replace tires, whether they are on the tractor or the trailer, more fleets are turning to retreads as a cost-effective alternative to new tires.
All of the metrics were strongly positive, but the CEO expressed disappointment with two of its main activities, automotive and dedicated
An attorney speaks on the case of a driver fired after objecting to driving a truck he considered unsafe. His award didn’t even reach $5,000.
New research is underway regarding one of the transportation industry’s most prevalent concerns: the lack of safe and available parking.
The U.S. truckload operations of TFI are mostly at CFI and Truckload America, and both had stronger quarters.
A driver was fired after objecting to driving a truck he considered unsafe. His award didn’t even reach $5,000.
FreightWaves spoke to GlobalTranz Chairman and CEO Bob Farrell about what made the tech-oriented 3PL attractive to The Jordan Company, the outlook for the current M&A environment, and staying disciplined in a period of “stupid multiples.”
USA Truck had an aggressive plan to add trucks to its fleet, but delays at the OEMs are falling short of the targets.
The Environmental Protection Agency reversed Former EPA Administrator Scott Pruitt’s July 6 decision to give glider kit manufacturers relief from a key limitation after fierce push back from environmentalists.
It’s the first time LTL carrier Old Dominion has ever posted an OR under 80, even as it added more than 900 new employees.
The asset light logistics provider had financial records across the board and in a driver squeeze, added capacity.
Covenant Transportation Group (NASDAQ: CVTI) reported a total revenue jump of 19.5 percent to $196.3 million in the second quarter of 2018 during its earnings call Thursday. The company also posted a 17.2 percent increase in freight revenue to $170.6 million year-over-year.
The asset-light expedited LTL carrier posted strong volume and yield growth, and is tacking on intermodal businesses by M&A, but playing catch up with its truckload brokerage.
Used truck prices in June were changed little month-over-month, but posted a 15% increase over June 2017, according to ACT Research.
The 3PL company saw its revenue climb in both its key units, with its services in demand in a tight market.
Knight-Swift Transportation Holdings (NYSE: KNX) reported revenue growth and rising income across much of the company, with the notable exception of Swift’s refrigerated segment, during its second quarter 2018 earnings call.
Rush Enterprises posted an increase in second-quarter revenue buoyed by strong used-truck sales and significant growth in its aftermarket business, which accounts for 64.8% of the company’s gross profits.
UPS reported strong revenue supported by pricing and targeted growth initiatives during its second quarter earnings call Wednesday. Adjusted earnings per share climbed 23 percent to $1.94, and total revenue was up nearly 10 percent.
Growth in its dedicated and ChoiceLease programs drove a strong second quarter for Ryder System (NYSE: R), helping the leasing and rental giant surpass earnings expectations for the second straight quarter.
The truckload carrier is relatively small, but it had a tremendous second quarter.
Despite repeated efforts, confusion still reigns when it comes to hours-of-service compliance and when drivers can use personal conveyance or the agriculture exemptions available.
Among today’s highlights: a drop in spot rates, Werner comments on driver availability, Rhode Island collects more than expected
Werner Enterprises had a strong second quarter, trouncing analyst consensus on its expected performance. Here are some of the highlights from its earnings release.
The driver pulling frac sand had drugs in his system and had numerous moving violations. That ultimately is what appears to have led to such an enormous penalty.
The summer truck shows reflect a lot that’s good about trucking: fellowship, pride and contributions to the community
A deaf trucker got his CDL, got a pass from FMCSA, had a job, but Werner said the law wouldn’t allow it to hire him. Now the case is in court.
Family owned TEC Equipment operates 26 Mack and Volvo truck dealerships in five states. In June, the company opened a $30 million location in Fontana, CA. Here is a look at that facility.
Daimler Trucks North America is recalling 18,105 2018-2019 Freightliner Cascadia vehicles for a brake caliper mounting bolt issue, the company informed the National Highway Traffic Safety Administration.
Covering 14 acres, TEC Equipment’s new Mack/Volvo dealership in Fontana, CA, is designed to improve customer service and features many driver amenities.
Mack will now offer the Lytx DriveCam safety program as a pre-wire option on Granite models, joining the TerraPro and LR cabover models offering the option.
Waste Management Holdings has applied for an hours of service exemption, asking the Federal Motor Carrier Safety Administration to consider allowing its drivers to work extra hours without losing short-haul status.
The stay only last until next week, when the EPA will need to respond to a lawsuit brought by environmentalists on the agency’s loosening of glider kit rules.
The maker of FreightLiner and Western Star trucks wants its parts business to grow and have stronger brand identification.
If a new truck driver hire doesn’t find the job similar to what the recruiter said it was going to be, that negativity will last, and will impact retention.
The Freight division of UPS is far smaller than its package division, but it also has reached agreement on a new five-year pact.
Following the publication of a National Academy of Sciences (NAS) report last June that recommended changes to the way the Federal Motor Carrier Safety Administration (FMCSA) records and displays SMS data, the agency has decided to scrap proposed changes.
The causes cited for trucks hitting overpasses near New York are many: GPS instructions, not enough signs, driver unfamiliarity with the limited roads.
Sponsored by Reliance Partners…Other than the economy slowing and unemployment rising, is there a solution to the driver problem?
One of the largest wasted revenue opportunities for carriers in freight movement is when trailers move less than full. FR8Star has introduced a new partial load service to help change that.
To help alleviate the growing technician shortage, Mack Trucks and Volvo Trucks are partnering with local colleges to develop training programs.
The American Trucking Associations and three Northeast-based motor carriers have sued Rhode Island over the implementation of truck-only tolls, claiming they are discriminatory and violate federal commerce laws.
The sleeper drivers at UPS, by the end of a five-year contract, would have rates that are approaching $1 per mile.
Hyliion has taken steps to help secure its pipeline of technology with the acquisition of Gentherm’s battery division and strategic partnerships with Toshiba and Dana Corp. as it seeks to further its hybrid-electric technology.
The Environmental Protection Agency issued a loophole that will allow glider kit manufacturers to avoid certain Obama-era emissions regulations and, effectively, build as many trucks as they deem fit, according to the New York Times.
The details in the company statement are not precise, but the all-in number for some drivers could be as high as 67.5 cts per mile.
An OOIDA executive took to the airwaves a few days after its ELD exemption request was denied, and he had a few things to get off his chest.
Dock411 says that 60% of truckers visit a new location each day and 70% have lost time because of unfamiliarity with a location. But that is only half the story. Once at a facility, many locations do not have amenities such as bathrooms for drivers.
Fleets ordered 41,800 new trucks in the month of June, making last month the busiest June on record. OEM stock prices rose on the news, and their order backlogs continued to lengthen.
The OOIDA request would have exempted companies meeting the definition of a small business along with various safety standards.
A rule last year by DOT on testing trucking applicants for drugs specifically left hair testing out, but the HHS needs guidelines if the push is to proceed.
A USDOT 3-year pilot program would allow drivers under the age of 21 and holding a military CDL to drive interstate commerce when sponsored by a participating trucking company.
UPS remains silent on the agreed-upon contract, but its union makes it look all but certain that Sunday delivery is coming.
Cashflow Corner presented by TriumphPay …Drivers can potentially benefit from added flexibility by utilizing the current split sleeper provision allowed under hours-of-service laws.
The Jones Act has proved itself costly and irrelevant to the U.S. for long enough. Unfortunately, it will take more than an “act of God” to change the law. It will take an act of Congress.
The trucking industry isn’t at the point of no return yet, but it is at risk. Many of those jobs are heading into the increasingly efficient warehouses.
Solar power may not be the cure-all for reducing fuel costs, but it can provide assistance and achieve payback in relatively short time if used in the right applications.
Understanding hours-of-service and ELD regulations and their exemptions can help fleets better manage driver’s time.
To successfully market a new or existing product, a company needs the right mix of product innovation, marketing, sales and promotional efforts. Some companies are finding that outsourcing some or all of these functions can provide many benefits over in-house teams.
The FMCSA has posted a new infographic on its website, which it says it plans to update monthly.
Third-party supply chain provider NFI along with Penske Truck Leasing will take delivery of and test Daimler Trucks North America’s (DTNA) electric vehicles.
Months after the start of hard enforcement, there are still some drivers who know little about their ELD.
Most bills introduced now have little chance of passage, but this one may suggest something when reading between the lines.
A few thoughts in Today’s Pickup from a two-day visit to Washington.
Cutbacks dating back to 2015, strong economic growth and problems in a lot of producing countries have brought the oil market to this point.
Ford Motor Co. and Volkswagen AG announced the signing of a Memorandum of Understanding (MOU) to potentially develop commercial vehicles as part of a strategic alliance.
Penske Logistics has reached agreement in principle to acquire Epes Transport Systems, of Greensboro, NC. The deal, expected to be finalized in the next few weeks, will add over 1,200 units to Penske Logistics.
Cashflow Corner presented by TriumphPay …For some owner-operators, Obamacare provided a path to insurance coverage. For others, the mandate was government overreach. This is starting to change, but what is not is the increasing costs of health care.
The free webinar will focus on how a driver and a fleet can prepare themselves for roadside inspections in a world governed by the ELD mandate.
Alleging that Prime Inc. put female truck drivers in harm’s way, the U.S. Equal Employment Opportunity Commission (EEOC) filed suit this week against the carrier, alleging Prime did not take adequate steps to prevent sexual harassment of a female truck driver.
Delays by other railroads in implementing PTC is the basis for BNSF to request a delay in its end-year deadline.
U.S. Xpress overhauled its management and its capitalization to get to the public markets.
A class-action lawsuit against J.B. Hunt will head to trial this September after the Supreme Court refused to review the transportation giant’s appeal to overturn a ruling issued by the U.S. Court of Appeals for the Ninth Circuit.
There is now a bill in both the House and Senate that would repeal the 12% excise tax on new trucks and trailers.
Efforts are being made to exempt livestock and certain agricultural haulers from ELD and hour-of-service rules, but a trucking group and safety advocacy organization are fighting back.
The new Trucker Path whitepaper finds that 70% of truckers have had to violate HOS, and 96% have parked in areas not designated for trucks. 48% spend an hour or more to find safe truck parking, driving time that does not translate into fleet revenues.
Ag haulers are not only dealing with ELDs and hour-of-service uncertainty, but tariff talk is clouding the future outlook as well.
