Cross-border trucking and logistics firm XTL buys Quebec-based Transport Savoie as Canadian mergers and acquisitions activity reaches fever pitch.
On podcast, Amit Mehrotra of Deutsche Bank looks over the reports for the last quarter of last year
After four straight months of near-record orders, trailer bookings took a breather in January as some manufacturers slowed taking reservations.
FreightWaves Truck Talk is a weekly newsletter adding perspective, context and commentary to industry news and trends.
Canadian cross-border trucking and logistics company Titanium Transportation Group gains global access to key freight networks in Chicago with the latest U.S. brokerage office.
S.F. Express is growing its domestic Chinese parcel business at a dizzying rate. The acquisition of a large Hong Kong logistics company helps it expand overseas.
BrightDrop, a startup launched by GM, thinks that to solve last-mile delivery you need a provider that looks at the issues holistically — from vehicles to technology.
Doctors have been identified in the lawsuit, a truck driver was fired after one “accident,” and C.R. England paid out over $4 million in a case.
In today’s edition of The Daily Dash, a pension bailout bill that would affect Yellow and ABF Freight drivers could be near in Congress. Plus, XPO posts a record quarter and Uber Freight’s growth continues.
Leaf Logistics CEO Anshu Prasad believes manufacturers of food and consumer packaged goods could be in jeopardy of missing earnings expectations as transportation rates remained elevated throughout the quarter.
New unit acquired by Forward Air increases its intermodal footprint.
XPO Logistics sees strong momentum coming off an excellent fourth quarter.
Smart loading dock startup Kargo announced the close of its $6 million seed round on Thursday. The company eyes further expansion and product development.
Two GlobalTranz employees whose job classification changed have filed suit for overtime, but the suit seeks much larger class certification.
A member of Congress bets on getting his truck parking expansion proposal included in the highway bill.
When it comes to risk mitigation, due diligence of the carriers you broker to is just as important to having the right insurance policies.
The Truckload Carriers Association will host a webinar on Tuesday to help truckload fleets understand current and potential regulations and other industry issues under the Biden administration.
Rush Enterprises sold Class 8 trucks at a level reflecting the industry’s overall COVID-impacted decline in 2020. It expects better results in 2021 and beyond.
Samsara announced Thursday it has surpassed more than $300 million in run-rate subscription revenue for the fiscal fourth quarter ended Jan. 30.
Day Three of Global Supply Chain Week will cover topics related to food and CPG supply chains. Tyson Foods Chief Sustainability Officer John Tyson is set to start the day off with global sustainability in mind.
The first reaction to earnings at Ryder from Wall Street was decidedly negative.
In today’s edition of The Daily Dash, an activist investor wants changes at Forward Air. Plus, a strong start to 2021 for LTL carriers; reshoring is coming into vogue; and recapping FreightWaves’ Health & Pharma Supply Chain virtual event.
Thanks to COVID, there are no seasonal highs and lows for international shipping. There is so much demand for goods that the peak season never seems to end — and ports, railroads, truckers and warehouses are reaching the breaking point.
A California judge awarded $23.7 million, considered a “nuclear verdict” because it exceeds $10 million, to a motorcyclist whose lower leg was amputated after he was struck by a work truck in Los Angeles.
Trimble produced $829.7 million in revenue during the fourth quarter of 2020, with earnings per share of 71 cents.
The size of Uber Freight’s “fleet” is about 71,000 carriers.
The Teamsters’ Central States Pension Fund could be saved through the COVID-19 relief package.
Brokerage steals the spotlight at XPO amid a record revenue performance and strong 2021 earnings guidance.
FedEx makes a multiyear commitment to help colleges offset the COVID-19 economic impact.
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.
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.
In today’s edition of The Daily Dash, diesel fuel prices are rising across the country. Plus, the Postal Service could be getting a makeover; Forward Air talks cyberattacks; and TFI discusses its plans for UPS Freight.
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.
Agents occasionally find the green coca plant leaves during searches but rarely find green powder cocaine, authorities said.
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.
Fuel cell manufacturer Hyzon Motors agrees to a SPAC merger that will bring a $570 million cash injection for global scaling of the Singapore spinoff’s business.
Day Two of FreightWaves’ Global Supply Chain Week virtual conference includes experts from DHL, SVT Robotics, Geodis and JLL Inc.
The agency’s revamp will likely include cost reductions, price increases and efforts to streamline what many consider a bloated organization.
Fine art logistics provider Masterpiece International saw benefits of technological innovation firsthand when switching from human couriers to high-tech trackers during the coronavirus pandemic.
In today’s edition of The Daily Dash, freight rates jumped 12% to end 2020, and Amazon wants to help truckers build their own businesses. Plus, Knight-Swift acquires a technology company.
Forward Air’s CIO recommends hiring a CIO who has been through a crisis as an important step to prepare for a cyberattack.
Electric chassis maker Xos Trucks may be the next electrification startup to get a financial injection by merging with a special purpose acquisition company, Reuters reported Monday.
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.
A top FedEx reverse logistics expert says the online returns tsunami has just begun.
Daimler Trucks North America is going to offer fully integrated powertrains for its electric trucks the same way it does diesel trucks — through its Detroit technology subsidiary.
Charges against a newly minted trucker are dropped as prosecutors point to his “lack of involvement” in $2.8 million worth of marijuana found in a sealed trailer of pork at the U.S.-Canada border.
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.
As CEO Elon Musk tweets support for the meme-based Dogecoin cryptocurrency, Tesla disclosed Monday it has invested $1.5 billion in Bitcoin and will let customers use it to buy electric vehicles.
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.”
NFI driver Roger Daily credits his dad’s incredible work ethic and a man named Cliff Capps for his 30-year career and impressive 6 million safe miles.
Hyzon Motors, the fuel cell startup could get hundreds of millions of dollars in backing from a special purpose acquisition company this week.
Borderlands is a weekly rundown of developments in the world of United States-Mexico cross-border trucking and trade. This week: Super Bowl avocado exports from Mexico are up; Schneider provides diversity grants; Logistics center opens in Tijuana; and CBP seizes phony designer children’s pajamas.
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.”
In today’s edition of The Daily Dash, a lawmaker would like to make COVID vaccines available at a truck stop chain; the future of trucking regulations; and why is trucking employment falling?
Tender rejections rise for the first time in a month.
Amazon reportedly will nurture hundreds of startup trucking companies to haul its goods.
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.
Welcome to FreightWaves Truck Talk, your Friday look at industry news with context, perspective and a bit of commentary. You can get Truck Talk delivered via email by subscribing at https://www.freightwaves.com/truck-talk.
When a single point of contact handles all of a company’s freight needs, customers are rewarded with lower costs, less confusion and more transparent shipments.
The number of jobs in the warehousing and storage sector also fell from December to January.
In today’s edition of The Daily Dash, offering up a to-do list for new Transportation Secretary Pete Buttigieg. Plus, recapping the latest earnings and how Bezos changed logistics.
Titanium Transportation Group becomes one of the largest trucking companies in Canada after acquiring International Truckload Services.
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.”
OOIDA testifies on vaccine and truck parking concerns before the House transportation committee.
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.
Peterbilt took five years and the input of 59 customers to complete a thorough redesign of its Class 8 flagship Model 579 that improves fuel economy by 7%.
Reliance Partners’ Jordan Chastain suggests spending more time with a motor carrier before jumping into the world of independent driving.
The startup will use proceeds to more than double its staff as it prepares for growth in the industrial warehousing sector.
Also on this week’s podcast: Diesel gains back almost all of the pandemic losses
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.
One notable number in the company’s earnings is that even with growth in all areas, compensation costs were held in check.
Engine and power systems maker Cummins Inc. destroyed analyst estimates for Q4 as the loosening of COVID-19’s grip in China pushed record sales.
In today’s edition of The Daily Dash, Schneider plans to invest in new equipment in 2021. Plus, UPS CEO Carol Tomé talks about the sale of UPS Freight; Jeff Bezos will step down as CEO of Amazon; and Daimler spins off its truck businesses.
What suggestions would you give new Transportation Secretary Pete Buttigieg? Our reporters share theirs in this FreightWaves roundtable.
Trailer maker Wabash National is pruning its product portfolio to redeploy resources for growth it sees in refrigeration and last-mile delivery.
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.
Amazon CEO steps away after going where no retailer had gone before.
U.S. Customs and Border Protection officers recently seized cocaine, fentanyl and methamphetamine worth more than $2.8 million in separate incidents in Texas, authorities said.
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.
Daimler AG will create a stand-alone truck business, separating Daimler Trucks from the Mercedes-Benz passenger vehicle business to focus on zero-emissions technologies.
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.
Meritor started with an electronic axle and worked forward to pull together all the major components of an electric powertrain that can propel an 80,000-pound line haul tractor or a medium-duty box truck.
In today’s edition of The Daily Dash, UPS’ blowout Q4; Mayor Pete gets a new job; and Forward Air is raising prices.
Romeo Power Inc. claims a two-year lead over competitors in the race to fast-charging, long-range batteries for electric trucks. But new entries, backed by blank-check companies like Romeo was, are flooding the market.
Parts shortages and supply chain issues could push planned Q1 production into spring as robust orders continue in January.
The deal benefits TFI’s freight-centric culture and allows UPS to shed a noncore asset, Tomé says.
Amazon announces a leadership shift as it crushes fourth-quarter 2020 estimates and reports $125 billion in revenue.
