News

Carrier succumbs to the harsh realities of present-day trucking.

Bob Biesterfeld will succeed John Wiehoff as CEO of C.H. Robinson, one of the world’s largest third-party logistics companies.

Cat Rock Capital Management, a U.S.-based investment firm, has told Just Eat plc (a U.K.-based food delivery service) to merge with another food delivery service.

TechCrunch reports that SoftBank, a Japanese multinational holding group, has led a $940 million investment in autonomous delivery startup Nuro.

The U.S. Postal Service has been turning in losses every year, and a White House task force has asked the USPS to look at franchising the mailbox to prop up the declining margins.

Goodyear Tire and Rubber (NASDAQ: GT) missed consensus revenue expectations of $4.05 billion.

Icy, snow-covered roads may slow down supply chain this week in areas that are used to it. But one city where winter weather is unusual is getting hit again.

Want an overview of what the markets are doing? We’ve got you covered with our weekly market forecast.

Trimble Inc. (NASDAQ: TRMB) reported on February 6 that fourth quarter non-GAAP revenue increased 13 percent year-over-year (Y/Y) from $701.1 million in the fourth quarter of 2017 to $792.9 million in 2018.

FleetCor Technologies (NYSE: FLT), which provides fuel cards and workforce payment products and services, beat Wall Street’s consensus estimates for its fourth quarter earnings.

Recruiting and keeping drivers remains a difficult task for carriers, but several experts said that a strong social media approach improves both tasks.

Shippabo has created its own version of a fixed-rate contract, which helps small and mid-sized shippers gain access to direct-to-carrier contracts, allowing them to cut their shipping costs and secure reliable capacity.

The two firms will create a multimodal logistics company with more than $1 billion in freight under management.

Sponsored by Redwood LogisticsRedwood Logistics announced its acquisition of Strive Logistics Monday, cementing Redwood’s place as a top-15 truck broker and an emerging multimodal logistics provider with over $1 billion in freight under management.

Brie Carere of FedEx.

When a company discovers a possible violation of U.S. export laws, it must carefully consider whether it’s necessary to file a voluntary self-disclosure.

The commission concluded the acquisition would not raise competition concerns.

United Nations report says trade is flowing to countries not involved in the dispute; Asia-to-Europe boxship trade is oversupplied.

The agency set forth procedures to claim exclusions granted by the Office of the U.S. Trade Representative on Section 301 duties on goods from China.

The company’s Latin American container handling grew 23 percent year-over-year.

The first-of-its-kind retrofitting will have the battery sufficiency to allow the Hagland Shipping AS vessel to sail in and out of harbor on electric power for about 30 minutes.

Trade aspects of the Craft Beverage Modernization and Tax Reform Act of 2017 will be covered.

Ashley Coker (PHOTO: TRUCKSTOCKIMAGES.COM) Forbes has named Covenant Transport (NASDAQ: CVTI) one of America’s Best Employers For Diversity in 2019. Coming in at number 463, Covenant was the only truckload […]

A noticeable change in the pattern of trade is underway at Australia’s second biggest box port, Sydney’s Port Botany. Botany handled more boxes in the last calendar year than in 2017  – but those boxes arrived and departed on fewer, although larger, container ships.

Pronto built a high-performing Level 2 solution for commercial vehicles with dynamic throttling, braking, and steering.

Atlanta to Philadelphia’s spot rate has hit its lowest point in 3 years. The absolute rates may be similar, but the freight markets could not be further apart.

Bergevin, Cristol, and Stauffer want to attack fundamental problems affecting the whole supply chain beyond truckload arbitrage.

Crude prices are stuck in a $50-$55 range for WTI, as news that would drive prices higher inevitably gets offset soon after by something pushing it lower.

Railroads – like trucking – will be focusing on solving the Highway Trust Fund problem this year. But could a Green New Deal become a competitive selling point?

Shares of Cummins Inc. (NYSE: CMI) decreased by $0.47 on February 6 after the company missed the consensus expectations of fourth quarter earnings per share (EPS) of $3.81 by 8.6 percent, according to Seeking Alpha. Non-GAAP EPS was only $3.48.

Challenge finding teams, company executives said.

January used to be known as the worst month for freight, but consumer trends are starting to change that.

Several feet of snow, powerful winds heading to the Sierras this weekend. Pacific Northwest will get its share, too, including Seattle.

A look into the importation and exportation of avocados.

Some $726 billion in annual spend on U.S. surface transportation faces daily price swings, but futures aim to mitigate the volatility.

Stakeholders within supply chains need to realize the potential of blockchain and look to work on pilot programs that can translate into commercial applications a few years down the road.

Overcapacity and low utilization rates have plagued the Asia to Europe trades for some years, and with a further 1.1 million TEU capacity set to be delivered between now and the end of 2020, the supply and demand ratio is expected to affect freight rates up to the end of 2022.

USX shifted its fleet away from over-the-road toward dedicated and lowered its adjusted operating ratio to 92.5%.

The Airforwarders Association has found that direct participation by smaller forwarders in the Air Cargo Advanced Screening program remains minimal.

A vehicle miles traveled program is the country’s “only viable future” for fixing the Highway Trust Fund, Ranking Member Sam Graves says.

Zoovu solves issues that consumers face with massive inventory lists on ecommerce platforms, by asking relevant questions and displaying only the curated items that match the preferences of the consumer.

The U.S. and China will re-engage in trade talks with Section 301 tariffs set to rise to 25 percent on March 2 if the countries can’t reach a deal.

Plus: Airbnb hires transport chief; Lyft goes green in Seattle; Vancouver chips in for high speed rail

The International Air Transportation Association expects a slightly higher figure — 3.7 percent growth — in 2019.

P3s incentivize on-time and on-budget projects and harness the innovation of the private sector, Nossaman LLP partner says.

Hawaii’s only Public Utilities Commission-regulated inter-island water carrier anticipates filing for another rate case in 2019, company president says.

The Food and Drug Administration has started accepting applications to develop a system to identify and trace certain drugs as they’re distributed within the U.S.

The Office of Foreign Assets Control added Evren Kayakiran to its Foreign Sanctions Evaders list, while reaching a settlement with Radford, Va.-based Kollmorgen Corp.

Fleets participating in the TCA Profitability Program (TPP) gain access to benchmarking data that can help them improve operations.

The State Department announced that it issued a presidential permit in November to the General Services Administration to start construction.

Cost of all-water transit could rise as higher price, low-sulfur fuel comes into play; Maersk offers a peak in the fridge.

Commerce provided notice to Mexican signatories on Wednesday, after industry and lawmakers pushed for a pullout of the 2013 agreement.

Pacific carrier appoints VP, manufacturer hires sales chief, Hong Kong-based company expands focus and port authority gets new head of communications.

The International Trade Commission pushed back decisions on whether to institute Section 337 investigations because of the partial government shutdown.

NYK Bulk & Projects Carrier’s order is for 25 bulk carriers, and BW LPG will have 12 LPG carriers retrofitted.

Queensland’s Port of Brisbane handled just under 1.4 million twenty foot equivalent unit (TEU) shipping containers in the last calendar year. Just under 29 per cent of all boxes handled were empty, according to the port’s trade statistics.

Lots of ideas for federal funding of infrastructure at Capitol Hill hearing, but the “pay-for” question still looms.

Postmates Inc., an on-demand food delivery service, confidentially filed with the Securities and Exchange Commission (SEC) for an initial public offering (IPO).

The arrest came a little over month after the Farm Bill made hemp and all of its byproducts legal.

Strong Q4 drives full-year performance.

The compensation is contingent on the company going public or changing ownership, according to GM’s annual 10K filing with the U.S. Securities and Exchange Commission.

Around a foot of snow coming to the Olympic Mountains this weekend, but Seattle metro area could also see its share. Bitterly cold winds, too,

Labor needs will rule the roost for industrial site selection.

Reefer technology is changing fast and the internet of things is helping to accelerate changes to the industry. Maersk has launched an upgrade to its reefer container management system that includes the virtual sailor, captain Peter.

Today’s selloff on soft revenue growth guidance went too far, according to Stifel’s Bruce Chan and Susquehanna’s Bascome Majors.

There are a lot of companies out there and it’s a number that is likely to shrink, according to the panel. Also on the agenda: blockchain and making yourself stand out in a crowded field.

Ideas about what a driverless future will be like.

Amazon (NASDAQ: AMZN) joined with capital venture firm Sequoia and T. Rowe Price (NASDAQ: TROW) to invest $530 million in self-driving vehicle startup Aurora Innovation according to Aurora’s press release on Medium.

BiTA’s latest member is Taylor & Associates, a transportation-focused law firm.

Volumes and capacity remain flat through the first week of February. Has the freight market weathered the slowest part of the year?

Marten Transport and other public truckload companies could make a good stock investment if historical trends hold, says an analyst from Stephens.

In its 2018 annual report, released today (February 7), DSV (NASDAQ OMX: DSV) announced  that revenues grew 5.5 percent, from 74.901 billion Danish Krones (DKK), or $11.39 billion, in 2017 to DKK 79.053 billion ($12.022 billion) in 2018.

Old Dominion’s operating ratio (OR) improved 520 basis points in the fourth quarter, moving from 83.9 percent to 78.7 percent year-over-year. This is the third quarter in a row the company has posted an OR under 80 percent.

General Motors plans to go all-electric in the future but does not expect profits until early next decade; Amazon is all set to move into the last-mile delivery segment; Tesla and Mercedes-Benz might collaborate over electric van development.

Genesee & Wyoming, Inc. (NYSE: GWR) beat fourth quarter revenue consensus estimates by $4.89 million. Revenue was expected to decrease by 0.2 percent year-over-year (Y/Y), but it increased 0.7 percent Y/Y from $571.6 million to $575.6 million, according to Seeking Alpha. GWR also beat fourth quarter consensus earnings per share (EPS) estimates of $0.89 by $0.11 to $1.00.

In partnership with Reliance Partners …Fleet safety needs to be looked at as a part of operations and not as an addendum, as initiatives like video safety can help reduce driver turnover and mitigate the impact of litigations that arise due to collisions, both from a cost and a time perspective

Green New Deals are the rage in Washington, with benefits – and costs – for trucking.

The reintroduction of the Trade Security Act is the most recent proposal to check the executive branch’s ability to impose national security-based trade remedies.

CEO Jens Bjørn Andersen tells analysts consolidation makes sense in an “extremely fragmented” 3PL industry.

NCBFAA praises Customs and Border Protection leaders for their assistance and guidance during the 35 days federal agencies were closed.

The key benchmark OTRI sounded the alarms about weaker markets, but other indicators were telling a different story.

All three grew fourth-quarter revenue by at least 6 percent compared to 2017, but net income dipped.

The new assessment increased by more than 50 to at least 345 containers lost from the early January incident in the North Sea.

All-in rates on the way out as new surcharge formulas on the way in as ocean carriers work on ways to share cost burden with customers.

The port handled more than 7 million TEUs in one year for the first time in its six-decade history.

Ashley Coker CHART: TCA DATA HOUSES INSIDE FREIGHTWAVES’ SONAR Average length of haul has been trending up since October 2018, according to TCA data housed inside FreightWaves’ SONAR. The data […]

The Bureau of Industry and Security and Census Bureau have raised their civil penalty amounts for various export control and trade statistics violations.

Industry veterans are promoted and board members are selected.

The U.S. Federal Maritime Commission has adjusted its civil penalty amounts to account for inflation, as required annually by the 2015 Federal Civil Penalties Inflation Adjustment Act Improvements Act.

LNG shipments to Puerto Rico caught in the middle of latest battle over the Jones Act maritime regulation.

Rail operator Aurizon has completed the sale of its Queensland Intermodal Business to privately owned Australian logistics company Linfox. The Queensland Intermodal Business delivers general cargo for more than 300 customers across the state and includes a wide variety of freight including groceries, white goods and general goods.  

ECHO pivoted away from the spot market and also leaned into LTL.

Werner Enterprises (NASDAQ: WERN) reported strong earnings in the fourth quarter of 2018, posting a diluted earnings per share (EPS) of $0.77. This topped analyst expectations, with the average estimate of 10 analysts surveyed by Zacks Investment Research coming in at $0.68.

Technology Crossover Ventures (TCV) has made a $200 million minority investment in Finland-based RELEX Solutions (RELEX), a leading provider of retail planning solutions – including supply chains – according to a RELEX press release.

A weak December pulled down full-year volumes, trade group said.

FreightWaves, DAT, Nodal Exchange, and K-Ratio pitched trucking freight futures to a diverse group of financial institutions and media and tech companies on Wall Street on Wednesday.

The double-decker underground highway opened 10 years after then-Governor Christine Gregoire chose a tunnel to replace the elevated Alaskan Way Viaduct.

Sponsored by Redwood LogisticsThird-party logistics (3PL) companies are attractive investments for private equity firms, enabling new companies in the space to grow faster than ever before. FreightWaves and Redwood Logistics teamed up to host a webinar on how the availability of private equity is shaking up the transportation space.

Chinese e-commerce newcomer Pinduoduo (NASDAQ: PDD) seeks to finance an operational expansion by raising $1 billion. The company’s filing with the SEC said that it plans to sell 37 million shares to raise necessary capital.

Human Trafficking is a big problem. One way to help fix it: recruit the eyes and ears of 3.5 million truckers.