News

Sophisticated freight brokerages can widen their margins when rates soften faster than shippers realize, but now’s a risky time to quote spot loads, because historical data suggests the market is about to tighten again.

The summer slump continues; Steve Eisman explains why he’s shorting Tesla; Walmart discovers that last mile delivery is hard; once-exported U.S. cherries find domestic customers; oil trade routes are threatened by geopolitical risk.

An attorney speaks on the case of a driver fired after objecting to driving a truck he considered unsafe. His award didn’t even reach $5,000.

Sponsored by LaunchIt Public Relations…Tom McLeod, president of McLeod Software, outlines several recent developments and how they will require us to make decisions that will shape a new future.

Uber Freight is poised to rise quickly in the fragmented freight brokerage business, but there are some factors that could hinder its growth: limited market penetration of digital apps, the Uber Freight app’s weak intelligence into routes and hours of service, and incumbents’ tech investments.

Introducing the latest additions to our SONAR platform: DAT lane pricing / Lane Tender Rejection Rates

The Chinese shipping firm reports its network applications in the Americas have been fully recovered.

The 444-page document outlines how the agency intends to treat controversial alcoholic beverage procedure under modernized process.

The global third-party logistics provider said the previously announced refinancing, including the offering of the notes, is expected to close this Friday.

Gregory Zikos, CFO of the Athens-based containership lessor, attributed the decline primarily to a seasonal softening of demand.

The results were not enough to offset declines in other segments, which pushed first-half profits for parent Deutsche Bahn down 27.9 percent.

The Swiss freight forwarder says using the blockchain-backed electronic bill of lading will give it a leg up on the competition.

Tender rejections continue to fall towards the May 2nd low, indicating that capacity is loosening in the market. If it reaches the critical level of 19.12%, it could mean that the rest of the summer will be disappointing for carriers that reported a bullish summer outlook.

Ruest and Owens named CEOs; Krishnamoorthy hired as VP of engineering.

More than 800,000 container orders are initiated through the ocean shipping information portal each week.

The SCFI jumped 8.8 percent last week, but is still lagging behind the index reading from this time last year.

New research is underway regarding one of the transportation industry’s most prevalent concerns: the lack of safe and available parking.

The U.S. truckload operations of TFI are mostly at CFI and Truckload America, and both had stronger quarters.

A driver was fired after objecting to driving a truck he considered unsafe. His award didn’t even reach $5,000.

ShipChain, a South Carolina-based blockchain logistics startup, successfully resolved a dispute with the Securities Division of the South Carolina Attorney General’s office. A cease and desist order entered in May was vacated yesterday.

FreightWaves spoke to GlobalTranz Chairman and CEO Bob Farrell about what made the tech-oriented 3PL attractive to The Jordan Company, the outlook for the current M&A environment, and staying disciplined in a period of “stupid multiples.”

Ready or not, truck platooning is inching closer to reality. Our latest infographic highlights the primary benefits of platooning technology.

USA Truck had an aggressive plan to add trucks to its fleet, but delays at the OEMs are falling short of the targets.

After setting one record high after another in the early weeks of 2018, the weekly DAT Dry Van and Reefer Barometers have pulled back but remain in a strong growth range.

The Environmental Protection Agency reversed Former EPA Administrator Scott Pruitt’s July 6 decision to give glider kit manufacturers relief from a key limitation after fierce push back from environmentalists.

Oil production faces volatile times, as multiple OPEC countries witness geopolitical problems and unstable governments, leading to the possibility of yet another rise in fuel prices.

Growth in the US economy improved considerably in the second quarter of the year, as a rebound in consumer spending helped drive the strongest quarter of growth in nearly four years.

COSCO shipping came under a cyber attack this week, which reinforces the need for comprehensive cybersecurity regulations within the maritime industry as the future moves towards port automation and autonomous shipping.

Fuel remains among the largest costs for both carriers and shippers but based on the current practice of using a fuel surcharge to mitigate volatility in pricing, both parties remain at risk of ending up on the losing end of the deal.

The global third-party logistics provider said continued efforts to cut costs and increase productivity resulted in an 11.6 percent year-over-year increase in adjusted EBITDA.

The Chinese ocean carrier’s operations were disrupted throughout the Americas.

The rate is the fastest since the second quarter of 2014, but analysts warn trade tensions could weigh down growth in the near future.

Raising of Bayonne Bridge helped drive increase in container volumes.

The asset-light trucking company’s second-quarter net income jumped up 67 percent from last year.

Shareholders agree to COSCO acquisition of parent company.

Cargoes may be moved to Europe via the Trans-Siberian Railway.

The tank barge operator posted consolidated revenues jump of nearly 70 percent.

The German government also will promote the shift of freight traffic from road to rail.

CEO says outlook “promising, thanks to growing customer demand for rail shipments across most commodity groups, particularly in North America.”

Tennison promoted, Coleman hired and Egoscue elected.

It’s the first time LTL carrier Old Dominion has ever posted an OR under 80, even as it added more than 900 new employees.

The asset light logistics provider had financial records across the board and in a driver squeeze, added capacity.

Covenant Transportation Group (NASDAQ: CVTI) reported a total revenue jump of 19.5 percent to $196.3 million in the second quarter of 2018 during its earnings call Thursday. The company also posted a 17.2 percent increase in freight revenue to $170.6 million year-over-year.

The asset-light expedited LTL carrier posted strong volume and yield growth, and is tacking on intermodal businesses by M&A, but playing catch up with its truckload brokerage.

Amazon spent $21.7 billion in shipping last year – a number which could be reduced if the company took control of its supply chain instead of partnering with 3PLs.

Used truck prices in June were changed little month-over-month, but posted a 15% increase over June 2017, according to ACT Research.

The Chinese shipping line said all of its vessels are operating as normal.

Georgia Ports Authority and South Carolina Ports Authority say their goal is to increase supply and quality of chassis.

The Miami-based supply chain solutions provider saw earnings fall 16.9 percent year-over-year to $42.3 million for the second quarter.

The South Korean ocean carrier is the latest to use NYSHEX’s platform for enforceable container freight contracts.

The less-than-truckload carrier had Q2 net income of $163.4 million on revenues of $1.03 billion.

The 3PL company saw its revenue climb in both its key units, with its services in demand in a tight market.

Agreement provides for wage increases, benefit improvements and increased job protection.

North America’s largest truckload transportation company posted a second-quarter net income of $91.6 million.

The Chicago-based third-party logistics provider reported a net income of $7.7 million in Q2 compared to a $200,000 loss in the same quarter a year ago.

The Norfolk, Va.-based Class I railway posted diluted EPS of $2.50 per share, beating consensus estimate by $0.19 per share.

Knight-Swift Transportation Holdings (NYSE: KNX) reported revenue growth and rising income across much of the company, with the notable exception of Swift’s refrigerated segment, during its second quarter 2018 earnings call.

CEO, SVP, sales director and consultants appointed.

House Transportation and Infrastructure Committee Chairman Bill Shuster seeks bipartisan legislation to keep nation’s Highway Trust Fund solvent.

Rush Enterprises posted an increase in second-quarter revenue buoyed by strong used-truck sales and significant growth in its aftermarket business, which accounts for 64.8% of the company’s gross profits.

UPS reported strong revenue supported by pricing and targeted growth initiatives during its second quarter earnings call Wednesday. Adjusted earnings per share climbed 23 percent to $1.94, and total revenue was up nearly 10 percent.

Growth in its dedicated and ChoiceLease programs drove a strong second quarter for Ryder System (NYSE: R), helping the leasing and rental giant surpass earnings expectations for the second straight quarter.

The truckload carrier is relatively small, but it had a tremendous second quarter.

FreightWaves data scientists are using GPS data to better understand truck movements through the busiest ports in North America—origin and destination, lanes, and the time it takes to get freight into retailers’ DC networks.

The improved Operating Ratio posted by Norfolk Southern wasn’t enough to stop analysts from asking about its comparison to that of CSX.

According to CB Insights, “the maritime shipping industry accounts for 90% of global trade and is only now beginning to leverage technology. This shift could have far-reaching impact on retailers, consumer goods companies, manufacturers, and more.” With this important industry in mind, CB Insights hosted a July 24 webinar to “explore how shipping companies and global ports are utilizing automation and blockchain technology to revolutionize the shipping industry,” taking a look at various aspects of the supply chain along the way.

NAFTA trade talks are back on the table, with Canada and Mexico hoping to ward off potential auto tariffs that could be levied by the U.S. if the agreement turns out to be unfavorable to its interests.

Beyond the Technology presented by LaunchIt Public Relations …Whether they are ordering brand new trucks or deciding which tires to purchase, fleet managers have a lot of choices to make. They are often making these choices while working to meet particular fuel efficiency objectives. That is where Vnomics comes in.

Freight markets continued to cool last week, but have stalled for the moment. Isolated markets showed increased activity around the international borders. What we should be looking at moving forward as we move into August?

Chassis lessors had raised objections to the agreement.

CN had a strong quarter as it comes out of system problems that stretch back into 2017.

Apology issued for emails falsely reporting potential bankruptcy.

Despite repeated efforts, confusion still reigns when it comes to hours-of-service compliance and when drivers can use personal conveyance or the agriculture exemptions available.

Supply chain software company awarded damages of $14.4 million.

Costs related to shutting down stand-alone container liner operation, grounding air cargo fleet cited.

Foreign affairs minister says businesses and workers on both sides of border impacted.

The Federal Maritime Commission has completed compromise agreements with eight non-vessel-operating common carriers, resulting in the recovery of $618,000 in civil penalties.

The Class I railroad will pay $1.2 million to the U.S. government and $1 million to West Virginia for the environmental damage caused by the derailment.

The Atlanta-based parcel giant saw its net income rise 7.3 percent year-over-year to $1.5 billion during the quarter.

Arrival of first magenta ship at Port of New York and New Jersey sign of “strong connectivity” with Asia.

The Class I railway also declared its third-quarter dividend to be paid to shareholders on Sept. 28.

Preliminary numbers on the American Trucking Associations’ (ATA) June For-Hire Truck Tonnage Index shows a slight downturn in tonnage carried despite the generally robust economic numbers that should fuel freight demand. 

There is a fear on the part of some investors in the trucking space that a peak may have been reached.

Demand in the economy continues to grow at a solid pace at the start of the 3rd quarter, but a myriad of government survey results suggests that trucking capacity and concerns over tariffs have limited the performance of several sectors.

Among today’s highlights: a drop in spot rates, Werner comments on driver availability, Rhode Island collects more than expected

Hyperloop Transportation Technologies (HTT) has inked a deal with the province of Guizhou for creating China’s first commercial hyperloop track.

Cashflow Corner presented by TriumphPay …During a period of crisis in their lives, truck drivers often have nowhere to turn. But, there are several charities available to assist during these emotional times.

Leaders from several different safety advocacy groups came together to ask the U.S. Senate to add safeguards to the AV START Act (S. 1885), a bill that addresses autonomous vehicles.

Werner Enterprises had a strong second quarter, trouncing analyst consensus on its expected performance. Here are some of the highlights from its earnings release.

LxRoadFreight is the first customer relationship management solution designed specifically for U.S. trucking carriers and brokerage firms.

The Makassar Highway ran aground Tuesday while en route to the Port of Södertälje in Sweden.

Driver turnover percentage the lowest in 20 years.

CEO says company is well positioned despite uncertainties from “geopolitical headwinds and recent changes in trade policies.”

Irish port reports volumes increased by 5.2 percent in the first half of the year.

Aircraft manufacturer said the industry will need to double its current pilot pool between 2018 and 2037 to keep the world’s commercial aircraft fleet flying.

Company wants to add foreign components to gift sets packaged in Florida.

Forwarders will have instant access to contracted rates and capacity availability and will be able to book their cargo on specific flights.

Comments, objections and requests for hearings must be filed by Aug. 22.

The U.S. Council for International Business has formed a special committee within its membership to address the threat that illegal trade poses to global markets and industries.