News

Spot rates hit record high; KeepTruckin caught up in crash fallout; Workhorse loses contract; Amazon vs Walmart

Growth in the supply chain came at a faster pace in February, with transportation capacity falling and prices climbing at accelerated rates.

The $3.7B merger of Navistar and TRATON Group drew nearer Tuesday when Navistar shareholders approved a $44.50-per-share buyout.

U.S. rail operator CSX says it is investigating a “data security incident” after a ransomware gang appears to have leaked personal information of employees and retirees.

“American customers will be able to choose to transport their goods using LNG, a new technology that helps to preserve air quality by eliminating almost all atmospheric pollutants,” said CMA CGM CEO Rodolphe Saadé.

On this episode of stackd, host Adam Robinson talks to Michael Southworth about how market volatility can be circumvented if you know the right tools to use.

California will boost testing procedures to enforce distillate fuel regulations.

New York-based Fillogic has secured a $2.5 million seed funding round to expand its e-commerce logistics platform.

The airline industry took a massive punch from the pandemic last year, but most carriers have stayed on their feet. Airlines and their employees say Congress should inject one more dose of aid for jobs so they can start flying more quickly once vaccinations increase and people are ready to travel.

A collision near Holtville, California, about 15 miles from the U.S.-Mexico border, killed at least 13 people.

CBP seized the Hong Kong-bound corn flakes frosted with cocaine at an express consignment facility near Cincinnati/Northern Kentucky International Airport.

Even though Britain is no longer a part of the European Union, it still does business with its neighboring countries. In this fireside chat, Richard Greening and Walter Van der Meiren discuss the work that needs to be done to keep trade seamless between the U.K. and the rest of Europe.

Evan Efstathiou discusses why VCs are looking to invest more in maritime just as shipowners are looking to partner more with startups.

Ocean Audit CEO Steve Ferreira chats with Vanguard Logistics Services Vice President Stephanie Loomis about what importers and beneficial cargo owners can expect as they undergo contract negotiations with the ocean carriers this year.

Uber is spinning off the robotic delivery division of Postmates into a new entity.

With no end in sight to the container crisis, Zach Strickland and Anthony Smith discuss how ocean shipping woes will continue to create ripple effects in the freight markets.

Verifai founder and CEO Jonathan Kempe chats with cybersecurity expert Rich Mason and supply chain expert Amy Broglin-Peterson on how and why companies should aim for data trustworthiness and become knowledgeable about the ethics guiding their supply chain partners.

Carrier Averitt Express said it was raising pay for its newly hired regional truckload and flatbed drivers. The company becomes the latest to increase driver pay as the industry struggles to seat tractors.

The Global Secure Shipping project began after 9/11 when the government sought increased security at ports. This fireside chat explores the customs, weight, six-sided security and visibility benefits of smart containers.

The mismatched timing of payments is always a challenge for freight forwarders and brokers. Trying to explain the process to outside auditors and financing firms is often even more difficult, but Kevin Hill and Amna Shah share the right way to handle this process.

“This is the greatest era to put out content on LinkedIn,” says Gary Vaynerchuk.

This fireside chat about logistical trends in artificial intelligence and automation highlights a variety of misconceptions. “Almost immediate ROI” might be enough to steer logistics companies toward AI, said Kate Curtin, head of marketing at Deep Cognition.

Federal Maritime Commissioner Carl Bentzel discusses the agency’s options in regulating rates and service amid the booming U.S. container supply chain.

At this point, the vaccine has rolled out to nearly 24.8 million Americans and counting. The vaccination story is just getting started for the automotive industry, with Stellantis becoming the first automaker to administer vaccines to its workforce.

Commercial vehicle fuel cell maker Hyzon Motors is adding a fuel cell facility to make enough key components for 1,200 fuel cells a year.

The company’s 2020 sales gains were higher than in the past 11 years combined.

The commanding officer of the U.S. Coast Guard icebreaker Polar Star talks about the commercial challenges and opportunities in the Arctic.

Ox uses augmented reality to speed the order picking process and improve accuracy. It has landed a $3.5 million seed round of funding to grow its business.

Gordon Downes, CEO of New York Shipping Exchange, joins Ocean Audit’s head Steve Ferreira to chat about structural changes in container shipping and the place two-way committed contracts have in the industry.

BIMCO’s Peter Sand discusses whether container shipping’s ‘new normal’ has legs and what’s next for the sector.

The bankruptcy filing by Hertz threatened to dump a glut of trucks and cars onto the used vehicle market if the company did not find a way to survive.

Other athletes may look at sports-related or media-related investments. But Kelvin Beachum, an offensive tackle, is deep into tech startups.

Less-than-truckload carrier Old Dominion reported Tuesday that February results were impacted as inclement weather took hold on parts of its network during the month. However, the carrier noted that the deceleration from January’s robust growth rate lasted for only one week.

Truckers run a high risk of rollovers Tuesday as powerful winds spread across the Northeast (with forecast video).

In today’s edition, we highlight Navistar’s trucks recall; strong comments from a former U.S. senator; and hope for a productive 2021 in Mexico.

Some people think the B2B exception is almost hopeless, but others see it as difficult but still the only way the independent contractor mode can survive in the Golden State.

Amazon may get the headlines for promising fast deliveries, but if it can’t get the product from overseas, the efficiency of trucks and delivery vans won’t make a difference.

Workhorse Group built just seven electric delivery vans for the second consecutive quarter. Production systems and supply chain problems hamper the company.

KeepTruckin is petitioning the National Transportation Safety Board to rescind its recommendation that the Federal Motor Carrier Safety Administration remove the company’s logging devices from its list of self-certified vendors following a fiery crash that killed seven motorcyclists.

Concurrent to insolvency discussions, Greensill is considering the sale of its operating business to Apollo Global Management Inc. for $100 million, according to a report.

The OPEC+ group will meet this week, setting a course for supply that will determine the future course of oil prices.

The ocean carrier has not said when customers can expect to receive damaged or intact cargo.

Logistics provider ArcBest Corp. reported that the positive trends in its asset-based segment during January were derailed by poor weather in February. Overall, less-than-truckload fundamentals “remain generally positive,” according to one analyst.

XPO and port drayage are in the Teamsters Union target sights in backing the PRO Act.

Suvrat Joshi joins logistics software-as-a-service platform FarEye as chief product officer.

Surging container imports have heightened freight-forwarding demand. Talent scouts like Logitalent help forwarders staff up.

As cryptocurrencies gain in popularity, more e-commerce brands and payment platforms are incorporating the coins into their payment systems.

Former President Richard Kuehn plans to stay on as an adviser for a period of time.

On this episode of WHAT THE TRUCK?!? for FreightWaves’ Global Supply Chain Week, Dooner and The Dude talk to ocean shipping experts about the steps to manage risky situations.

Workhorse Group is not taking the loss of a contract to make battery-electric mail trucks for the U.S. Postal Service lying down.

Philip Damas, managing director at Drewry Shipping Consultants, and Andy Gillespie, director of global logistics at Ansell Healthcare Products, chat about the current port congestion and how the situation can be corrected.

Plant-based meat alternatives are to the food industry what electric vehicles are to the transportation industry — a niche with a lot of startups today but maybe not so niche […]

1996: At 1,044 feet (318.2 meters) long, the new Maersk ships are longer than the Eiffel tower, but they are still capable of a high speed of 25 knots.

“Mid-Pacific gives us a West Coast presence and significant expertise in the open deck segment of the industry,” said Matt Ziegler, CEO of ZMac Transportation.

Descartes acquired QuestaWeb for approximately $36 million.

Shipping experts chat about the COVID-19 supply chain and how consumer e-commerce demand has impacted seasonality and congestion in freight.

Supply chain digitization strategies impact shippers, carriers, 3PLs and consumers. Christian Piller, vice president of value engineering at project44, and Dolly Wagner-Wilkins, chief technology officer at Worldwide Express, discuss the benefits and challenges that digitization strategies bring.

Korby Keeney discusses how shippers navigate extreme weather events.

The Los Angeles Cleantech Incubator and the city of Santa Monica have launched what they said is the first Zero Emissions Delivery Zone in the nation for electric and other non-petroleum-powered vehicles.

“Importers are exhausted” and foundation change is necessary, says Flexport’s Sanne Manders.

Lower fuel expenses helped privately held BNSF’s net income grow by 5% in the fourth quarter of 2020.

Globalization isn’t just driven by comparative advantage. It is skewed by subsidies and mispricing of risk, according to author Marc Levinson.

Airfreight markets are topsy-turvy in the COVID era, but importers and exporters can count on one thing: paying two to three times normal rates. CFOs will have to increase their transport budgets if they want goods to move quickly.

Duncan Wright, president at UWL, shares advice for shippers navigating difficult challenges, from port congestion to carrier contracts.

In a wide-ranging keynote during the FreightWaves Global Supply Chain Week, former U.S. Senator Bob Corker expressed concern for America’s global status.

Eastern U.S. railroad CSX (NASDAQ: CSX) has started the regulatory process to acquire New England short line operator Pan Am Railways in a move that CSX hopes will strengthen its […]

Heavy rainfall and potential road closures will slow down truckers this week in the Gulf Coast states (with forecast video).

AgTC’s Peter Friedmann said Hapag-Lloyd’s Rolf Habben Jansen failed to mention in a press conference that the container shipping lines are enjoying record profits “while pushing their customers into real financial trouble, some towards bankruptcy.”

After a disruptive year, Mexico’s automotive industry hopes to revive a manufacturing sector depressed by the pandemic, along with shortages of vital components and energy for factories.

Borderlands is a weekly rundown of developments in the world of United States-Mexico cross-border trucking and trade. This week: Jamco Group expands in Laredo; BTL picks Mexico for new auto parts plant; G-Global expands in El Paso; and agents seize $40 million in drugs in Texas and California.

DHL Aviation is turning over every stone to find economical capacity to haul packages for DHL’s express unit. The latest moves involve a travel airline flying parcels instead of passengers and a new Airbus converted freighter that few others have.

The owners of defunct Westfield Transport Inc. of West Springfield, Massachusetts, were indicted on federal charges of falsifying driving logs on Friday. Prosecutors assert the Gasanov brothers hired Volodymyr Zhukovskyy two days before his involvement in a fatal crash that killed seven motorcyclists in New Hampshire in June 2019,

Though already present at a lane level in the Lane Signal application inside of the SONAR platform, FreightWaves has aggregated a national predictive rate value for van (FWS.USA) and reefer […]

Tripp and Detour continue their over-the-road adventures with a load of hot dogs, traveling through New York City boroughs to the Little League World series in Williamsport, Pennsylvania.

The underlying fundamentals of the market are showing signs of moving slowly back toward a more stable scenario and spot rates may be unable to paint the full picture.

In today’s edition, we highlight the upcoming public listing for a self-driving truck startup; the market’s impact after the winter storms; and a startup’s earnings reports.

The expected rebound for truckload markets did not disappoint.

Navistar is recalling more than 32,000 International LT and Lonestar models from several recent model years because engines can shut down unexpectedly.

United Airlines on Friday became the second airline to pay millions of dollars in penalties for a scheme to defraud the U.S. Postal Service for international mail delivery.

Five innovative FreightTech companies showcased their cutting-edge solutions during the FreightWaves Global Supply Chain Week.

Employees can be “your greatest liabilities if they’re not trained properly,” says Infinit-I Workforce Solutions CEO Jay Wommack. So he is offering a free training video for truckers.

Just weeks after a U.K. court ruled that Uber drivers are essentially employees, a new push is on in Canada to unionize gig workers.

Rickenbacker Airport near Columbus, Ohio, is named after World War I ace Eddie Rickenbacker. The airport is a regional hero, supporting more than 15,000 jobs, with a $2.5 billion annual economic impact.

The societal shutdowns of 2020 had ripple effects in every industry. Rob Benedict breaks down how the energy industry was impacted and has recovered since the start of COVID-19.

“Ordering a truck in Poland is completely different than shipping something in Greece or Portugal.”

On this episode of WHAT THE TRUCK?!? for FreightWaves Global Supply Chain Week, Dooner and The Dude talk about the future of renewable fuels and the complicated relationships between chemicals and freight.

Jared Flinn, operating partner of Bulkloads.com., discusses the future of the bulk commodities market post-COVID-19 pandemic and what to look for in 2021.

Life cycle management and recycling expert Lauren Roman dives into what it takes to responsibly recycle electric vehicle batteries.

There are many variables converging that will keep upward pressure on spot rates and tender rejections for the coming weeks. Carriers will be able to squeeze extra cents per mile over the next couple of weeks. Assets will come back online sooner rather than later, but volumes are beginning to pick up both seasonally and due to a whipsaw effect from the storm.

TMSforce executives Tim Sensenig and Rick Gonzalez explain the differences between a 3PL and a 4PL.

In the oil patch, a significant share of logistics activity is highly repetitive. Blockchain can automate the payment processes.

Companies like DoorDash and Uber Eats exploded during the pandemic as Americans ordered out for meals, but they face a more difficult path forward as COVID vaccines could reopen in-person dining.

Competitive rates will convince a carrier to pick up a load, but the right combination of relationship and convenience will keep them coming back to the same broker over and over.

Truck Talk, is a weekly newsletter where FreightWaves adds context, commentary and color to industry news and trends.

Allyn International experts discuss how a 4PL control tower acts as the nervous system in a global supply chain.

Tesla has shut down production of its California assembly plant for two weeks due to a variety of supply chain problems. Should there be concerns over the true demand for Tesla vehicles?

Worldwide Oilfield Machine’s co-founder unveils her strategy for a healthy company, no matter if the times are good or bad.

FreightWaves is bringing back its in-person events this year with the F3: Future of Freight Festival in November, celebrating all things freight in a communitywide celebration throughout the city of Chattanooga.

Hope White, founder and CEO at H.D. White Logistics, dives into personal challenges with getting promoted as a Black female and what it takes to start your own company.

Penn State professor Justin Goldston explains how technology such as blockchain can be used to create an ethical international supply chain.