News

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.

The starting point for referrals will always be the quality of service you provide.

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.”

Truckers will face several more days of dangerous cold in over a dozen states (with forecast video).

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.

The Biden administration review of critical supply chains is aimed at reducing reliance on China for equipment.

Hyzon Motors, the fuel cell startup could get hundreds of millions of dollars in backing from a special purpose acquisition company this week.

You can conveniently find every FreightWaves podcast in one feed via the free FreightCasts channel on freightwaves.com/podcasts, iTunes, Spotify or wherever podcasts are found.  Subscribe to FreightCasts and never miss […]

Steve Ferreira helps you write the book to find success in the ocean markets, despite the extreme volatility.

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.

All Nippon Airways is consolidating freighter operations at one of its Tokyo airports, and only relying on passenger planes to deliver cargo to Okinawa to save money after losing a lot of money in the first three quarters of its fiscal year.

Companies are paying significantly more for transportation than they were a year ago with many contracts yet to be implemented.

Demand for its products skyrocketed, but port congestion and freight capacity constraints have prevented their delivery, and now Peloton is spending $100 million to try and fix its supply chain.

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.

The Port of Long Beach may need to start filling out its record book in pencil as new numbers keep replacing those on top.

“ZEBOX will assist innovative startups in developing new technologies in transportation, logistics, mobilities and industry 4.0,” says CMA CGM CEO Rodolphe Saadé.

Aerospace engineering firms are busy converting passenger planes to pure freighters.

Everything you need to know about cannabis logistics in ’21, plus trucker shot during rescue, transportation jobs down, more

Long grind ahead for crude tankers: Executives and analysts don’t see recovery until second half — if not later.

Supply chain software provider E2Open is now trading on the NYSE under a new symbol.

Railcar manufacturer Greenbrier is forming a joint venture with transportation asset management firm Longwood to lease railcars.

Without much volatility in volumes and rejections over the past three weeks, freight markets have seemingly found their groove. The tune is akin to Berlin techno. To some, its pace is smooth and machine like. To others, its pure chaos.

We haven’t heard many airlines recently culling their cabins of seats, but Kenya Airways is now the first to do so with a Boeing 787.

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.

The gig economy grew at a 33% rate in 2020 as more workers looked for flexible work schedules and ways to supplement, or even replace, lost income during the pandemic.

The global chip shortage has been running rampant for more than three months now. U.S. senators urged President Biden this week to work with Congress to address this threatening problem.

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 countdown continues, rating the five worst interstates for truckers in bad weather, based on accident statistics.

Whereas at other times cheap capital might be an occasion to take bigger risks, this time, enterprises are not using their resources to expand outside their bread-and-butter business but instead to invest within it.

You can expect the Biden administration to make some type of impact with trucking regulations, but in what areas?

The number of jobs in the warehousing and storage sector also fell from December to January.

Truckers will face several days of dangerous cold from the Plains to the Northeast (with forecast video).

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.

Pharmaceutical companies often get nervous that carelessness by a transportation provider will spoil a shipment of COVID vaccines or other medicines. Airfreight experts say data sharing and teamwork can eliminate most glitches.

President Biden has pledged to pump funding into state and local agencies in a bid to make last-mile freight delivery smarter and safer.

Titanium Transportation Group becomes one of the largest trucking companies in Canada after acquiring International Truckload Services.

Business payments company FLEETCOR Technologies Inc. reported EPS 19 cents above estimates for the fourth quarter.

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.

The discharging of damaged containers continues nearly two months after the storm-battered ONE Apus arrived in Japan.

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.

Kevin Hill and Michael Vincent look at recent earnings reports and hear how the grain season is going for American exporters.

Port of Long Beach Executive Director Mario Cordero delivers a melodious annual report.

A new organization in New Jersey backed by app-based companies and community leaders is working to ensure gig workers can maintain their flexible and independent employment status.

The startup will use proceeds to more than double its staff as it prepares for growth in the industrial warehousing sector.

U.S. rail volumes rose 5.3% in January as gains for intermodal, chemicals and grain were enough to offset losses for coal and petroleum products, according to AAR data.

Also on this week’s podcast: Diesel gains back almost all of the pandemic losses

Slync.io, a Dallas-based operating system for global logistics, announced the close of its $60 million Series B funding round.

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.

The countdown continues, rating the five worst interstates for truckers in bad weather, based on accident statistics.

Supply chain visibility consistently rears its head as a vital need.

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.

Truckers will face a rough winter storm Thursday from Nebraska to Michigan (with forecast video).

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.

California calls on feds to protect exporters. Shipping groups claim California export cure will worsen congestion — including for importers.

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.

The Union Pacific employee, who was working in Vail, Arizona, was struck by a rail tamper and fatally injured, according to the railroad and the National Transportation Safety Board.

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.

Luke Falasca and Kyle Taylor use FreightWaves SONAR data to assess how Q1 is going so far for the market.

Freight brokerage Echo Global Logistics rode truckload volatility to record quarterly revenues.

Uncertain vaccine rollouts and mutant COVID-19 strains are messing up airline industry hopes for a second-half recovery this year. At best, traffic will be half that of 2019. But, at least, airlines can count on cargo shipments.

Weathering the COVID pandemic drove Volvo Group sales lower in 2020, but market share was stable and new orders are pouring in.

Data is king but diving into data analysis can be difficult. Zach Strickland and Anthony Smith make it easy with a deep look at key data you need to understand the market.

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.

During a panel discussion, Home Depot and others talk about how to grow freight rail.

Dooner and The Dude kick off Black History Month with two freight founders who are blazing trails in the industry

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.

“God put me … in the right place at the right time,” says trucker Demetrius Fields.

Forward Air was on track to beat its Q4 estimates before the December cyberattack.

The countdown continues, rating the five worst interstates for truckers in bad weather, based on accident statistics.

“It’s been really easy to get the band back together,” says CEO Jason Provonsha.

Traffic density matters because it helps managers decide which rail track routes shift from main lines to possibly less viable branch lines.

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.

New technology and carrier-friendly operations have kept The Home Depot’s freight moving during the pandemic.

Higher consumer spending, inventory restocking and rising import levels contributed to a 9.6% gain in North American intermodal volumes in the fourth quarter of 2020, according to the Intermodal Association of North America.

Truckers will face rough winter weather Thursday from Nebraska to Michigan (with forecast video).

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.

Supply chain technology provider Manhattan Associates bests fourth-quarter forecast and raises 2021 guidance. Management sees “robust” global demand for cloud solutions.

A maritime coalition wants Congress to fund a new maritime relief program as part of the next COVID-19 relief bill.

In this issue, spot market stabilizes, Bezos steps down as CEO at Amazon, top truck stops in America, Robinhood tanks meme stocks, trucker dumps salt on cops, spinach that can email and more

Amazon announces a leadership shift as it crushes fourth-quarter 2020 estimates and reports $125 billion in revenue.