News

Cargojet wants to dump eight aircraft that were part of of its growth strategy and postpone converting two more aircraft into cargo jets as the weak cargo market shrinks profit margins.

The pandemic hype about $4-per-mile truck rates lasting forever crashed to earth in the past year, leaving disillusioned small carriers looking to get out.

Reliance’s Thom Albrecht provided his company’s perspective on how fast capacity is disappearing from truck markets during FreightWaves’ F3: Future of Freight Festival. 

At the F3: Future of Freight Festival, strategic adviser Alan Gershenhorn explained how market changes are affecting different transport modes.

Flatbed carrier Daseke reported an in-line third-quarter result Thursday but reduced its full-year guidance.

On Thursday FreightWaves presented the FreightTech 25 awards, which were chosen independently by a panel of CEOs, industry leaders, academics and investors who scored the companies. Chattanooga, Tennessee-based accounting and auditing firm HHM administered the vote. The awards recognize the most innovative and disruptive companies in the freight technology sector.

Now on demand on WHAT THE TRUCK?!? Dooner is joined by Dan Curtis; John Baird; Joe Petosa; Michael Beelar; Michael Unruh; Prasad Gollapalli

The National Transportation Safety Board wants freight and passenger railroads to incorporate new technologies that boost the effectiveness of existing positive train control technologies.

Improving road safety and public health is the goal of a new push to help teen drivers learn to share the road.

Consumer spending is likely to decline in the coming months, adding to weak freight conditions.

A fireside chat with Emerge CEO Andrew Leto discussed leadership, planning and resilience at FreightWaves’ F3: Future of Freight Festival.

FreightWise has acquired Kuebix from Trimble with the aim of creating one of the top transportation management system platforms in the country.

Striking United Auto Workers will vote again next week on a Mack Trucks offer it earlier rejected after the company declined more sweeteners.

U.S. agribulk exports to Asia are taking the longer route via the Suez Canal due to Panama transit restrictions.

This year’s list saw a sizable shake-up, with 17 newcomers and a high number of mainstays being left off the FreightTech 25.

As more and more companies partner with FreightWaves to revolutionize the way they look at their supply chains, new and unique applications arise that create growth opportunities. The SONAR team […]

Cargo volumes are holding up, but rising transport capacity is outpacing demand, pushing container shipping rates even lower.

Air Transport Services Group is slowing investment in converted freighters as a weak shipping market leads cargo airlines to pause fleet expansion.

Greater speed is a highlight of the new interface for FreightWaves SONAR introduced at the F3: Future of Freight Festival in Chattanooga. 

Leland Miller, CEO of China Beige Book, spoke with FreightWaves CEO Craig Fuller about ongoing supply chain issues, geopolitical tensions and financial risks in China at F3: Future of Freight Festival on Wednesday.

Hyliion Holdings is throwing in the towel on its Hypertruck ERX natural gas-electric powertrain to focus on generator technology.

XPO Executive Chairman Brad Jacobs participated in a town hall on Day 2 of the F3: Future of Freight Festival in Chattanooga, Tennessee.

High numbers of migrant crossings in September disrupted freight rail operations, including Trinity Industries’ and FreightCar America’s ability to send new rail cars into the U.S., executives said on recent earnings calls.

In 1980, maritime workers became enraged by the maritime omnibus bill, resulting in the Boilermakers’ international president threatening to stop building ships in the United States.

FreightWaves showcases SONAR flatbed data at the F3: Future of Freight Festival.

In a keynote address to the F3 conference, Alex Epstein laid out the case for continued fossil fuel use.

The state of Georgia has suspended diesel and gasoline taxes for the third time since early summer.

Canadian railway CN, the Mississippi State Port Authority and Ports America have signed a memorandum of understanding for an intermodal service at the Port of Gulfport.

A weaker-than-expected peak period leads GXO to cut its organic revenue growth guidance.

Venture capitalists have plenty of dry powder but they’re being choosier.

Supply chain metrics for October showed fundamentals for transportation providers may be improving.

Truck Sail has set out to help trucking companies do just that by installing aerodynamic, drag-reducing devices on their trucks. This not only saves fuel costs, but also extends the working life of trucks and trailers through energy demand.

Cincinnati voters on Tuesday approved selling Cincinnati Southern Railway to Norfolk Southern for $1.62 billion.

More than a dozen logistics firms have been recognized among North America’s fastest-growing companies.

Revenue and earnings fell sharply at DHL’s Express and Global Forwarding units.

Embedding existing warehouses with new automation offers great potential as well as some risks, according to experts.

Chattanooga, Tennessee-based FreightWaves has been named to Deloitte’s Technology Fast 500 list.

A fireside chat about Convoy’s demise and impact helped kick off FreightWaves’ three-day F3: Future of Freight Festival in Chattanooga, Tennessee.

FreightWaves’ Innovation Alley at the Future of Freight Festival featured a demo by customer support automation platform Kodif.

Trucking technology company ConMet has acquired Truck Labs, whose aerodynamic TruckWings save 3%-6% on a fleet’s fuel bill.

FreightWaves CEO Craig Fuller sees bad signs from banks — and trouble ahead for brokers — as he looks to the first quarter of next year.

Meadow Lark Agency and its affiliate, Meadow Lark Transport, filed for bankruptcy liquidation Monday, owing around 120 former employees almost $800,000 and nearly 1,300 trucking companies about $2.7 million.

DSI Assignments, which is overseeing the auction, is seeking a buyer for all of Slync’s platform assets.

In a tough quarter, Uber Freight showed small signs of improvement in both EBITDA and revenue.

Daimler Truck reported lower deliveries in Q3, a contrast to its major competitors who reported higher sales but warned of a coming slowdown.

Containerized imports have rebounded strongly in 2023, with October volumes up 33% from February’s low.

Truck brokerage RXO beat third-quarter estimates Tuesday and said it will continue to expand its platform and take market share on the downside of the cycle.

The rail industry continues to streamline operations and realign rail car fleet management via acquisitions.

J.B. Hunt and BNSF Railway announce the launch of a new customized intermodal offering at FreightWaves’ F3: Future of Freight Festival 2023.

Burdened by recall expenses for its battery-electric trucks, Nikola is counting on California’s incentive largesse to make a go of fuel cells.

Air Transport Services Group’s underperformance cost CEO Rich Corrado his job on Monday.

The benchmark diesel price used for most fuel surcharges has declined for the fourth time in five weeks.

UPS has bought out a small contingent of senior pilots. An American Airlines regional partner is trying to attract them to fly small jets.

Daimler Truck North America awards Hexagon Purus the work of electrifying its Freightliner eM2 vocational medium-duty trucks.

Shippers have rebounded in Q4 2023 to once again be the most positive segment. Carriers and brokers have lost some of the steam that led to relative optimism in Q3.

The Federal Railroad Administration has awarded $16.4 billion to 25 passenger rail projects, many of which are in the busy Northeast corridor. Freight rail may also benefit from the projects.

The union representing East and Gulf Coast dockworkers warned members to prepare for a possible strike starting Oct. 1, 2024.

The U.S. Supreme Court let stand a lower court ruling denying a driver’s request to allow him to operate a smaller vehicle with a softer suspension.

An online auction is slated for Tuesday to sell the assets of Minnesota-based Twin Express Inc., which had more than 70 power units, after the trucking company defaulted on a $19 million loan.

EFW said Monday it has closed on the acquisition of Superior Brokerage Services, which doubles its revenue and warehousing capacity.

A 13% decline in total revenues dented BNSF’s net profit for the third quarter.

A white paper by factoring company OTR Solutions highlights risks it sees from the combination of 3PL bankruptcies and asset-based lending.

FreightWaves is hosting its biggest event yet, F3: Future of Freight Festival, Nov. 7-9, packed with world-renowned speakers, educational sessions, music and more.

FedEx pilots are experiencing significant pay decreases because there isn’t enough flying to go around. The company is pushing cockpit crews to take jobs at a regional passenger airline.

Trucking bloodbath expands to lenders as industry experiences one of the sharpest downturns in history.

Fleets waited two years for back-ordered Class 8 trucks. Now largely met, demand has shifted to replacement needs.

This week in Borderlands: Three Texas seaports are awarded a combined $37 million in federal upgrade grants; Arcadia Cold Storage opens a Phoenix-area facility; an investment firm acquires California-based Source Logistics; and Fictiv opens a facility in Monterrey.

The overall freight transportation market may be soft but the natural imbalance in the flow of freight is still able to create pockets of tightness.

Approximately 65 employees for Pittsburgh-based Elite Transit Solutions were laid off via Microsoft Teams on Friday. This is the second round of job cuts the freight brokerage has experienced over the past month; about 20 employees were let go on Oct. 20 because of the “current economic situation,” according to sources familiar with the layoffs.

Military veterans are closer to gaining more access to a CDL with the passage of legislation aimed at cutting GI Bill red tape.

By providing door-to-door visibility capabilities — and paving the way for stronger connections between industry players — project44 can help shippers and logistics service providers more from reactive to proactive.

It is crucial for shippers to build flexibility into their transportation plans. This ongoing volatile environment has created an opportunity — and a necessity — for companies to take another look at how they move freight.

Jeremy Reymer, founder of DriverReach, is joined by industry friend and ally Yvonne Glover, director of operations at Tyler Technologies, an organization that builds solutions aimed at helping the public sector operate more efficiently.

Domestic manufacturers fail to inspire optimism, since they foresee major headwinds on output in the first half of 2024.

Now on demand on WHAT THE TRUCK?!? Dooner is joined by Tyler Robertson; Beth Flippo; Jay Silva; KJ McMasters

In 1979, South Korea — officially the Republic of Korea — imposed a law reserving 100% of cargo in the country for Korean-only vessels. The decree sparked protests organized by U.S. shippers nervous that the monopoly would raise freight rates.

Total employed in the sector now more than 30,000 fewer than at May peak

Improper cargo securement can result in out-of-service violations and fines. Further, unsecured cargo can fall onto the road, causing significant risk of injury or even death to motorists.

Innovation in freight goes beyond technology. While many major FreightTech companies have gone bankrupt, it does not mean that innovation is lacking or that every tech company is doomed to fail.

Who is leading, following, emerging or out of the game in autonomous trucking? Here’s an assessment of shifts among the players.

The family who founded Pilot Travel Centers and sold 80% of it to Berkshire Hathaway has filed suit over valuing the final 20%.

This monthly report analyzes the current state of the freight market based on critical insights from our SONAR platform.

“This is not a diet. This is a resetting of the baseline,” said Maersk CEO Vincent Clerc on his company’s job cuts.

The Utah Department of Transportation’s Aeronautics Division released a report on how drones, electric air taxis and other new aircraft may fit into the state’s skies.

Teamsters union leadership may be willing to accept lost rank-and-file jobs in return for increases in new positions, a labor expert says.

Trucks are featured heavily in projects reaping $653 million worth of port infrastructure grants announced Friday by the Biden administration.

Online sales are expected to grow between 7% and 9% over 2022 levels, the National Retail Federation says.

Mail delivery by airplane started in 1918, if you can believe it. It was dangerous work but cut down delivery time by a day.

The Convoy saga has taken another turn as venture-backed freight forwarder Flexport announced Wednesday that it has acquired Convoy’s technology stack for an undisclosed sum. This comes after Convoy, which was valued at $3.8 billion from its final funding round 18 months ago, shuttered operations on Oct. 19.

Zipline is growing its presence in the medical space, enabling patients to get their prescriptions delivered by drone.

Logixboard’s best-in-class customer experience allows freight forwarders and logistics service providers to tie their internal systems into a single easy-to-navigate platform.

Lufthansa Cargo didn’t make a profit in the third quarter as revenues fell more than 40% from last year.

Schneider National missed third-quarter estimates Thursday and cut its outlook for the year by more than 20%.

The Canadian Trucking Alliance has created a tip sheet and reporting guide to root out fraudulent carriers in the trucking industry.