News

U.S. Xpress held a call with analysts and the media to discuss its first quarter 2019 earnings, which were $0.15 per share compared to the consensus estimate of $0.18.

Weak demand on the asset light side weighs down results.

Relief sought after ELD mandate expected to ease compliance with work rule requirements.

J.B. Hunt Transport has consolidated its sales, operations and customer support functions for its Mexican subsidiary in a new office in Santiago de Querétaro, Querétaro, Mexico.

U.S. Xpress (NYSE: USX), a Chattanooga-based truckload carrier, reported adjusted earnings per share of $0.15 compared to the consensus estimate of $0.18.

Tank barge operator saw huge jump in delay days due to winter weather and one-off events that swept through U.S. waterways.

Canadian transportation and logistics firm buys Ontario-based broker that uses propriety software platform.

Company behind rivals in its pricing position, Jacobs says

Freight volumes recover from Easter lull as volumes are flat from a year-over-year perspective. Comparing load volumes is not the whole story, however.

Ten-year waiver to move U.S. LNG to Puerto Rico is off the table – for now.

Best-selling author Brad Stone (The Everything Store) will tell more about the history and future of an amazing corporate success story – Amazon – at Transparency19. Get your tickets now for this must-attend event.

Denso’s investment is another sign that the auto industry is nervous about the longevity of the car ownership model and more enthused about so-called urban mobility services that reduce traffic and emissions.

The raise adds to the flurry of activity that has hit the digital freight forwarding space since the beginning of 2019.

April rail volumes fell year-over-year but rose slightly from March 2019, the Association of American Railroads (AAR) said on May 1. But the AAR predicted that improving economic conditions could lead to rail volumes stabilizing or growing in the second half of the year, although some uncertainties still persist.

According to Seaspan Corporation, the largest U.S.-listed container-ship lessor, liner companies are pulling vessels from service to install scrubbers, which is increasing demand for new charters.

Deal puts Canadian international trade services company in $13 billion portfolio of Tom Gores’ private equity firm.

Fourth-largest port in India in possible path of violent cyclone.

Schneider National, Inc. held  a call with analysts and media to discuss earnings results. Most of the call focused on explaining what occurred in the first quarter and how the company will achieve its lowered guidance.

Women In Trucking (WIT) has announced Bison Transport driver Treana Moniz as its 2019 May Member of the Month.

Tesla to raise $2 billion for increasing cash flow; Amazon has launched in Arabic in the Middle East; oil prices to remain high through the year.

Momentum is building to limit the speed of ocean-going vessels to curtail harmful emissions. The debate will focus on how this could impact charter rates, and whether it could have the unintended consequence of creating even more emissions-generating ship capacity.

FreightWaves has also observed downward pressure on contract rates and the beginning of a capacity bleed-off.

The following findings were compiled by DHL from more than 8,500 responses.

Royal Dutch Shell PLC (NYSE: RDS) announced net income of $5.3 billion for the first quarter of 2019, a decrease of 2 percent from the same quarter last year, reflective of the crude oil market, but a significant improvement on the $4.5 billion expected by analysts.

TriumphPay is shifting the power over invoice control back into the hands of carriers.

Henriette Thygesen named chair, Chris Burruss tapped as VP, Paul Dollman appointed non-executive director and Jonathan Zier hired as business development manager.

Schneider National, Inc. announced first quarter 2019 earnings of $.21 per share, $0.06 per share lower than last year and $0.10 worse than the consensus estimate.

NYSE-listed Scorpio Tankers has returned to profitability and its scrubber-installation program should position it to take advantage of the looming IMO 2020 rule.

In partnership with Reliance Partners …

ELDs are not just about tracking the hours of service of drivers. The data they gather can be used by fleets to improve driver behavior and operational efficiency, and by insurance companies to understand accident history for evaluating fleet risk profiles.

Shippers benefit as transportation rates expected to stay low.

Releasing its earnings before the market open on May 2, Dana Inc. (NYSE: DAN) reported a drop in net income, which was $98 million in the first quarter of 2019, down from $108 million compared with the same three months of 2018.

Convoy has worked closely with shippers on various projects, including its Convoy Go program that gives owner-operators access to drop-and-hook freight. It has now formalized those efforts in the Innovation Lab.

The 14 senators in a letter earlier this week said implementing and enforcing the stricter sulfur standards would “fuel America’s growing energy dominance.”

FMC commissioners told during a meeting Wednesday there is “ample capacity” and freight rates have decreased.

Aside from Lunar New Year slowdown, world’s biggest exporter reports ongoing volume growth despite concerns over trade slowdown.

OFAC said violations can be minimized if compliance programs include management commitment, risk assessment, internal controls, testing and auditing, and training.

President Trump was reportedly considering granting Puerto Rico a waiver in the requirement that U.S.-flag vessels be used to transport LNG from the mainland to the island.

Duty drawback programs and foreign-trade zones are two options, speakers said during a JAXPORT conference, but there are other ways to lower the financial obligation.

Mid-Ship Group agreed to pay $871,837 to settle violations of sanctions involving financial transactions from charter party agreements between IRISL and two of its ships.

After falling rates and months of bad news, the dry bulk shipping community believes it has seen positive signs for the near-term markets. That’s despite some of the benchmark dry bulk seaborne volume and freight rate numbers taking a deep, deep dive. And, on analysis, the dry bulk shipping markets are currently really mixed-up.

Good execution has CEO Jacobs in ebullient mood.

A staff report by the Surface Transportation Board (STB) recommending how board members should modify existing rate review methodologies got a mixed reaction from the Association of American Railroads (AAR), a trade group representing the Class I railroads, Amtrak and other carriers.

Concerns about profitability in the ride-sharing sector are overblown, public-private partnerships are on the rise and transit and commuting platforms are the future.

BlackBuck has raised a total of $285.2 million till date and is looking to expand its services across India, without worrying much into its growing losses.

Apps collaborate to deliver to Ford cars.

Today on FreightWaves Now, we look at the snow out west and tornadoes in the southwest. What is happening on the intermodal side of things? Tune in and find out!

Mississippi River near record levels in Davenport, Iowa.

C.H. Robinson officials said their business model and technology has allowed the company to adapt through multiple cycles.

Atlas Air held a conference call to discuss its first quarter 2019 results. There were several questions of interest asked on the call.

Transitioning to a carbon free world could cost billions of dollars, but the price of a zero emissions technology is still considerbaly less than using fossil fuels, which could cost us the Earth.

BNSF (NYSE: BRK) says proposed rules in Oregon would make it harder for the railroad to comply with the common carrier obligation, a federal mandate requiring a railroad to provide transportation to all parties and for all goods, including hazardous materials.

So far this year, there has been heightened refinery downtime for maintenance and upgrades, but the tide is expected to turn in the second half, to the benefit of product-tanker rates.

When carriers cut ship speeds in the great recession, emissions fell. Now a group of companies says this phenomenon can be used to fight global warming.

Your weekly fuel report has arrived.

Global logistics solutions group, WiseTech Global, has announced the acquisition of Xware, a leading messaging integration solutions provider in Sweden.

“The dairy industry couldn’t be more clear: Pass USMCA,” said Rep. Mike Conaway of Texas.

The Economic Roundup is designed to synthesize the events of the past month as they relate to freight markets, and provide a guide on trends to keep an eye on in the upcoming month.

Atlas Air Worldwide Holdings reported adjusted earnings of $0.98 per share, ahead of the fourth quarter 2018 and the NASDAQ consensus estimate of $0.86.

Plus: WalMart opens transportation office; farewell to the Smart car.

Market expert Scott Case has written about the use of dynamic pricing in airfreight. Long-used to sell passenger seats on airplanes, dynamic pricing is new to airfreight – but will likely be used extensively going forward. Read Scott’s take on the why’s and wherefore’s of the move.

Saia Inc. (NASDAQ: SAIA) reported that its revenues and operating income were up in the first quarter of 2019.

Supply challenges weigh on profits, but company stays positive on market conditions.

Utility and telecom plays have been among biggest bets for Australian investment manager, but it’s also selectively added U.S. port assets.

The two sides will meet again in about three weeks to discuss how to pay for the package, which House Speaker Nancy Pelosi described as “big and bold.”

Gains in international intermodal offset by losses in domestic container and trailer moves.

Uber stands to gain by avoiding wage and benefit costs that accompany workers classified as employees.

The conversion to become IMO 2020 compliant is expected to happen in the fourth quarter.

The shipping management platform currently is available in seven countries but is expected to be offered globally by the end of the year.

Graham Westgarth is named CEO, Rob Rose is appointed president and Somer Webb is promoted to chief financial officer.

This year marks the 200th anniversary of the first steamship to sail across the Atlantic.

PHOTO: SHUTTERSTOCK The Truckload Carriers Association has been recognizing Highway Angels, or professional truck drivers who demonstrate compassion and courage on the road, since its 1997 inception. Recently, seven standout […]

Growth in Canadian firm’s trucking business remained solid despite earnings miss.

Automotive parts, tires, fuels and lubricant specialist U.S. Venture has bought energy information and supply chain management company Breakthrough Fuel for an undisclosed sum.

No signs yet on agreement on how to pay for it.

Strong bottom-line offsets some volume sluggishness.

Widening margins in NAST, especially truckload brokerage, led the way for Robinson.

Zūm announced it secured additional funding from new investor Citi Ventures to help double its national footprint by 2020

“You see a dearth of well-capitalized investment firms in this space,” said Dabo Horsfall, a former investment officer at Morgan Stanley Infrastructure Partners who launched Tensile Investments in 2018.

Company looks to get sticky with SMB traffic with one-month initiative.

Long-serving shipping man to replace former energy executive and consultant who led ship manager for less than two years.

Eaton, maker of electrical systems and powertrain components posted record revenue in the first quarter.

Competitors agree on need to collaborate on common standards during Blockchain Revolution Global conference.

Tanker companies like Euronav expect to see financial benefits from impending environmental regulations, which will change the type of fuel burned at sea and could eventually limit how fast ships can go.

Two truck drivers recently honored for helping people during harsh winter storms.

GDP declines by 0.1 percent, while unusually bad weather and lower commodity volumes lead to sharp drop in rail.

Genesee & Wyoming, Inc. reported adjusted earnings per share of $0.78 for the first quarter of 2019, which were 11 percent better year-over-year, but less than NASDAQ’s consensus estimate of $0.83.

Cummins is reviewing is emissions certification and compliance process following questions from EPA and CARB. The company did report strong earnings and a record number of engines shipped in the first quarter.

Market expert Brian Aoaeh’s article focuses on the current and upcoming maritime industry issues – IMO 2020, global warming, rising sea levels, etc. Read Brian’s take on how the maritime industry is meeting these challenges.

Speaker Pelosi and Senate Minority Leader Schumer wrote a letter to President Trump on Monday to outline priorities for Tuesday’s meeting about infrastructure.

Sharp increase in profit, revenues and volumes reflect the purchase of a majority interest in Orient Overseas (International) Ltd. last summer.

Bosch is working with Powercell to develop a hydrogen fuel stack for vehicles. Plus, housing index has positives for home buyers, JFK starts new phase of air cargo expansion, and trucking company in Denver crash had history of violations.

FreightWaves Radio’s tenth national show was broadcast on Saturday, April 27 on SiriusXM’s Road Dog Channel 146.

Danish freight forwarder DSV has begun 2019 in the same groove as the previous five years, registering further growth in 2019 as the company anticipates a merger with its Swiss partner, Panalpina, later this year.

CEO Eric Meek and COO Danny Williams — who pleaded guilty to securities fraud last week — are no longer with the freight payments company.

At the same time Wall Street investors are shunning ship owners, European banks are pulling back on providing debt to ocean shipping. What are the short- and long-term implications for freight markets?

Oshkosh Corporation (NYSE: OSK) reported its fiscal year 2019 second quarter earnings on April 30, highlighting an increased diluted earnings per share of $1.82, compared to the $1.47 reported in the same quarter in 2018, and a net income of $128.5 million compared to $110.8 million, in 2018.

EDI, API, or both? Which option is best for you? Today’s infographic, in partnership with Roadrunner Freight, looks to help you decide. 

Market expert Jim Blaze looks at an under-appreciated asset of North America’s freight railroads – their real estate holdings. Read Jim’s hypothesis of what the railroads might do with this real estate in the near future.

Transparency19 is just a few days away. Quick-fire demonstrations are a big part of the program; read why in this article, and if you haven’t bought a ticket yet, please do so!

But Ryder’s 3PL division, Supply Chain Solutions, is expected to go into negative year-over-year growth next quarter.