Weekly Fuel Report: May 28, 2024
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Midwest Express and Sterling Transportation have launched a strategic partnership to better compete on the national stage.
Two rating agencies have cut the debt rating of beleaguered Forward Air.
This year’s hurricane season is expected to be more active than normal, and the Texas coast is forecasted to be at risk for a multitude of severe weather.
This week in Borderlands: Port of Eagle Pass, Texas, fastest-growing border crossing in the U.S.; Port of Brownsville snags Westa flour mill; Siete Leguas Automotive opens $54M factory in Durango, Mexico; and CBP intercepts $18M worth of meth in shipment of squash.
A California company, which once contracted with FedEx Ground to deliver packages before filing suit against the global delivery giant over alleged illegal business practices, has filed for bankruptcy liquidation.
Now on demand on WHAT THE TRUCK?!? Dooner is joined by Brittain Ladd; Marcus Cooksey; Charles Bowles
C.H. Robinson has had its debt rating downgraded by S&P Global.
A newsier-than-typical Advanced Clean Transportation Expo featured the first appearance by Tesla and a single stage gathering of legacy OEMs.
FGN Global Logistics offers a “control tower” logistics management concept to bulk liquid shippers of both flexitanks and ISO tanks, which lowers transport costs and simplifies liquid supply chain management.
NOAA released its May hurricane forecast, in which it spells out a warning to shippers to prepare for significant disruptions.
This week, collaboration becomes key, TruckParkingClub.com hits a milestone, and ex-Convoy engineers raise money for the spot market.
The State of Freight webinar for May sees a key benchmark turn higher; is this the bottom?
PepsiCo Beverages North America announced this week that it plans to add 50 Tesla electric semi-trucks to its California fleet as part of the company’s mission to reach net-zero emissions by 2040.
Logistics real estate operator Prologis and Maersk subsidiary, Performance Team, launch a 96-truck electric charging station in Southern California.
The Teamsters is celebrating what it says is a first-ever victory to organize drivers at a Kroger fulfillment center.
Mesa Airlines has stopped flying for DHL Express, citing low cargo demand.
A recent Flock Freight survey reports 43% of truckload orders were partially empty, highlighting ongoing challenges for trailer space utilization.
DAT and SONAR will be debating what they think is in store for domestic transportation for the rest of the year. “The Great Debate: Where is the Market Headed Next” will occur in front of a live audience on the general sessions stage at the Georgia International Convention Center during Future of Supply Chain 2024 on June 4-5.
Norfolk Southern will be required to pay an additional $310 million for the 2023 East Palestine derailment. The settlement will go towards measures to improve rail safety, pay for health monitoring and mental health services for the surrounding communities, fund long-term environmental monitoring and more.
Uber Freight has officially entered its managed transportation era.
DHL’s supply chain unit has invested nearly $100 million to set up an air line haul operation with the help of a local airline that will support logistics customers in Brazil.
Bridging the AI gap in U.S.-Mexico trade is essential for trade growth, experts say.
New legislation designed to crack down on fake companies that give legitimate brokers and carriers a bad name has bipartisan support.
A couple of truckload carriers provide an update on recent trends following a slew of poor first-quarter reports.
Dooner is live in Miami with special guests Erin Breen; Megan Fortenberry; Russell Gibson
Another large trucking company has asked federal regulators to relax its permitting rules to get drivers in seats faster.
The U.S. Postal Service will pause some modernization projects for the rest of the year amid “confusion” about the agency’s Delivering for America plan.
Mexico’s major seaports handled a record 2.9 million twenty-foot equivalent units during the first four months of the year.
Minnesota has reached a deal on compensation for Uber and Lyft drivers, and a California court seems to favor Proposition 22’s protections for gig workers from the state’s independent contractor law.
The monthly J.D. Power used truck report reflects a still-weakening market.
Illinois-based Patriot Transport and sister company Expeditor Systems recently filed for Chapter 11 bankruptcy protection.
The ports of Los Angeles and Long Beach were awarded a total of $112 million from the U.S. Army Corps of Engineers to fund maintenance and repair projects.
DP World is launching an intermodal service to transport finished vehicles by rail from Mexico to the U.S.
EV startup Harbinger grabbed $400 million in vehicle orders and announced a $73 million Series A funding round.
Maersk is pursuing its air cargo ambitions with a new freight station in Miami and its first two Boeing 777 freighters.
Forward Air announced it has hired two-time YRC Worldwide chief financial officer Jamie Pierson.
The diesel price used as the basis for most fuel surcharges is down to levels not seen since July 2023.
ASL Aviation is upgrading the fleet at its Australian subsidiary with a modern Boeing 737-800 cargo jet.
An amended class action complaint from Forward Air’s shareholders has been filed in a Tennessee court.
Almost two months after colliding with Baltimore’s Francis Scott Key Bridge, the MV Dali was hauled away from the site Monday.
The Shipper Rate Report is a quarterly publication using freight payment data from U.S. Bank in conjunction with FreightWaves SONAR data sets to create the most in-depth rate and demand outlook for shippers.
A CDL training school that had facilities in Washington and Oregon has ceased operations and filed for bankruptcy liquidation.
Well-known transportation equity research analyst Amit Mehrotra is leaving Deutsche Bank, which for now at least is ending equity coverage of transportation companies.
Brock Johns, a leader in the world of transportation management systems, highlighted the need for “convergence” to increase supply chain efficiency.
This week in Borderlands: Nearshoring to continue boosting US-Mexico trucking in 2024; Careismatic Brands to close Dallas distribution hub, lay off 404 employees; ITS Logistics to open office in Fort Worth; and Aztema begins construction of $240M tire plant in Mexico.
The wide range of spot and contract rates being offered may help trigger a strong market shift later in the year.
Tech nonprofit Emerge Career reduces recidivism and poverty rates among convicts by providing access to vocational training and job placement support throughout incarceration and after release.
Now on demand on WHAT THE TRUCK?!? Dooner is joined by Clarissa Rankin; Juan Beana; Nicole Slavin
Regulators pushing to make the electric truck transition go faster are getting pushback from a range of industry stakeholders.
A new report from CNBC shows consumer spending will not dramatically rise this peak season, but a modest uptick is likely. Companies with a clear view of their businesses have an idea what peak season will look like and are preparing.
This week: A Greek company raises $16 million to make vessel disbursement practices easier, Candor Expedite invests in cold chain technology and driver recruiters leverage AI in operations.
Relocalize wants to eliminate middle-mile logistics and reduce emissions by replacing trucks with on-the-spot food supply and distribution microfactories.
The Justice Department’s move to loosen restrictions on pot has drawn a strong reaction from large trucking companies that fear recategorizing the drug could lead to more crashes.
WTT shop opens; what Cass data says about the market; AI load booking and more in the WHAT THE TRUCK?!? newsletter
Recent reports from Ryder System and Knight-Swift highlight significant total cost of ownership and poor range for electric trucks.
Stubbornly persistent silos in the supply chain wreak havoc. The most glaring disconnect shows between strategic supply chain planning and execution.
Getting a commercial learner’s permit at 17 would give disadvantaged students a faster path to truck driver jobs, Connell High School in eastern Washington told regulators.
After gaining enterprise accounts, GoodShip is looking to accelerate its growth to improve its shipper-centric procurement platform.
At Manhattan Associates’ Momentum conference, a Google Cloud executive gave an overview of generative AI’s explosive growth in supply chains.
After hinting at a brokerage and managed services integration in its latest earnings report, Uber Freight has launched a spot market update to Uber Freight Exchange to combine its carrier and shipper networks.
In the wake of the Baltimore bridge collapse, NTSB Chief Jennifer Homendy wants states to start testing their bridges to prevent similar catastrophes.
BNSF Railway has filed an appeal for an asbestos trial verdict that ruled the railroad was liable in the deaths of two people in Montana.
A congressional waiver on sunsetting Boeing’s production of 767 freighters to comply with international emissions rules will benefit FedEx and UPS.
A coalition of far-flung states has filed a lawsuit to fight California’s Advanced Clean Fleets rule.
The $284 billion automotive logistics market needs technologies that enhance supply chain visibility, experts say.
April data from freight payments platform Cass shows freight demand remains near cycle lows.
Brandy D. Christian is stepping down as president and CEO of the Port of New Orleans, a role she has held since 2017.
U.S. Customs and Border Protection officers in Texas seized nearly $500,000 worth of cocaine hidden in a semitruck hauling cotton candy.
Less-than-truckload carrier Saia has tapped Matthew Batteh, vice president of finance, as its new chief financial officer.
The air cargo market is maintaining momentum despite entering the slow season, thanks to strong demand for e-commerce and e-cigarettes out of China and a mode shift tied to the Suez Canal cutoff.
The benchmark diesel price used for most fuel surcharges fell for the fifth straight week.
The port at Norfolk, Virginia, has benefited more than any other port from the closing of the Port of Baltimore after the Francis Scott Key Bridge collapse, according to visibility platform GoComet.
An eight-year quest by a parent of two truck-crash victims has cleared a major hurdle with legislation introduced to create a victim-advocate position in the federal government.
Blank sailings are a major factor in maritime shipping and are increasing after ocean carriers gorged on higher Red Sea rates while they could thanks to added capacity. With capacity now cut, rates are rising again.
Now on demand on WHAT THE TRUCK?!? Dooner is joined by Lance Healy; Joost de Vries; Justin Clarke
A federal lawsuit alleges CSX inflated the amount of time employees were charged for taking leave under the Family Medical Leave Act, punished workers for taking the leave, and terminated or suspended over 100 employees for allegedly taking FMLA leave fraudulently.
Federal officials have pushed back a potential CN and CPKC rail worker strike in order to review whether a work stoppage would jeopardize Canadians’ health and safety.
This week in Borderlands: Mexican authorities recorded 153 tractor-trailer thefts in April; BMW begins construction of $860M EV battery plant in Mexico; Port of Beaumont completes $85M roll-on/roll-off dock; Taiwanese automotive supplier opens factory in central Mexico.
NEXT Trucking recently announced product and program updates as part of its tech stack improvements following its merger with CDL-1000.
Purdue University and the Indiana Department of Transportation are creating a roadway capable of wirelessly charging electric vehicles traveling at highway speeds, which researchers hope will lower the costs of electric trucks.
A federal grand jury has indicted an Ohio trucking company owner, alleging the former Department of Defense contractor failed to pay approximately $1.2 million in taxes in a yearslong scheme.
Outspoken consultant shares views on India and Starbucks, among other things.
The U.S. is experiencing a powerful solar storm, with the potential to cause serious GPS problems. With the trucking industry’s reliance on technology, the impact to the industry could be significant.
About $10 million in Minnesota Department of Transportation grants will support 11 freight rail projects, making the state more competitive in the global and national economy, officials said.
Now on demand on WHAT THE TRUCK?!? Dooner and Matt McLelland are joined by Andrew Lockwood; Dushawn Falls; Anthony Slamar
Fleets have practically no idea what electric trucks will be worth when it is time to trade them, one of the reasons for cautious adoption.
FreightWaves’ Carrier Rate Report — presented in partnership with Trimble — provides a review of the previous quarter and a forecast for the coming months. Featuring responses from a carrier survey alongside […]
This week, FreightVana offers a Visa card to its carrier network, SPS Commerce makes an acquisition and we review Symbotic’s Q1 results in the robotics space.
EBITDA losses at Uber Freight grew in the first quarter, but its president expressed strength in the company’s business model.
Radiant Logistics reported an in-line result for its recent fiscal quarter and said the market has moved off the cycle bottom.
A coalition of U.S. and Mexican stakeholders is urging Presidents Joe Biden and Andres Manuel Lopez Obrador to address migrant issues impacting cross-border trade.
Inside the newsletter: tornadoes tear through US and warehouses; Zyn shortages?; more
The NTSB is now investigating two incidents involving FedEx Boeing 767 cargo jets, one in Texas and the other in Turkey this week when a plane landed on its nose.
Peloton filed a complaint with the Federal Maritime Commission alleging that Flexport’s practices cost the fitness company millions of dollars in unreasonable detention and demurrage charges.
Lorus Byers, CEO of Carrier Intelligence, increases truck driver retention rates by targeting drivers who fit individual company culture, whether or not they are actively seeking a job.
Amplify by Cass bridges the gap between a shipper’s efficiencies and desire to increase working capital with carriers’ need for timely payment.