News

Truck leasing giant Ryder posted total revenue of $2.9 billion and earnings per share of $3.58 during the third quarter.

This is CargoX’s second sizable partnership aimed at bringing more efficient import and export practices to global markets.

Now on demand on WHAT THE TRUCK?!? Dooner is joined by Rachel Premack; Alan Adler; Andrew Haun; Justin Martin

Old Dominion sees a 6% uptick in shipments following Yellow’s closure but says the industry’s freight reshuffle hasn’t been permanently settled.

Electric vehicle manufacturing efforts have been marching south. In fact, EV manufacturing investments in the Southeast alone reached $54.6 billion in 2022 –– a 128% year-over-year increase, according to the Southern Alliance for Clean Energy.

Wabash’s reorganization is continuing to pay off as service revenue rises as trailer sales fall amid improved profits.

Short-term pain will lead to long-term gain for Norfolk Southern, the railway’s CEO said when asked about his company’s higher margins amid plans to continue improvements to rail service.

UPS has set holiday shipping deadlines for deliveries on Dec. 23 or earlier.

Consistent with its rivals, Traton sees orders slowing but strong deliveries across its brands including Navistar.

Convoy Inc. has found a buyer for its tech stack, which would include the digital freight company’s driver app and automated freight matching and pricing engines.

A company can “go through all your tests, due diligence, cyber resilience and everything, but if you don’t know what to do when something happens, then all bets are off,” IT exec Steve Hankel said during the Digital Solutions Conference.

NS’ third-quarter net income fell 50% amid a $163 million incident charge related to the East Palestine, Ohio, train derailment in February.

Old Dominion Freight Line reported better-than-expected third-quarter results as Yellow’s departure provided a tailwind.

Israel won’t be able to produce as many goods for its economy because of the war it is waging. Some logistics providers are increasing their capability to deliver imports to the country by air and ocean.

Partnerships with other Class I railroads will help the freight rail industry gain market share, CN executives said during the Canadian railway’s third-quarter 2023 earnings call Tuesday.

President and COO Webb Estes reviews restored functions, praises customers that stuck around.

Cargo volumes showed mixed results for Gulf Coast ports in September, with Houston reporting container declines, New Orleans seeing gains and Corpus Christi getting a boost from crude oil shipments.

“The table is set to scale up as demand increases,” said Port of LA Executive Director Gene Seroka.

Less-than-truckload carrier Saia will implement a 7.5% general rate increase in early December.

TFI’s overall third-quarter results reflect a weak macro environment.

Nikola Corp. has won $165 million in arbitration from convicted founder Trevor Milton, but it wants to recover attorney fees, too.

Edge continues to win new business on the back of a regional carrier strategy.

“When you see fleets double in size in a very short period of time, typically they haven’t grown on the inside as well as the outside, and that’s a very dangerous combination,” Reliance Partners’ Brian Runnels said.

Yard management needs a technology overhaul, with more automation to drive efficiency. Right now, manual processes slow down operations.

Companies are evaluating their warehouse footprint, assessing consolidation and not ruling out relocation, WarehouseQuote executive says.

Paccar Inc. posted record third-quarter net income and continued to build on a streak of beating analyst estimates.

Experts say Mexico must take big steps to capitalize on nearshoring by improving road security and freight infrastructure, while stabilizing the peso.

While logistics visibility platform provider Slync had hoped that new management and a $24 million cash infusion in February would be enough to save the FreightTech company after its former CEO was indicted on fraud charges, the company is proceeding with an alternative option to a traditional bankruptcy and plans to wind down operations and sell off its technology.

Coming on the heels of the hack against LTL carrier Estes, an industry meeting maps out ways to battle cyberattacks.

The decision to prioritize technology in a business so reliant on people to cover loads and deal with exceptions is poignant in the wake of the past week’s events. 

The semiconductor industry is a new vertical that logistics provider Kuehne+Nagel has identified as a growth area. Toward that end, it is using two large freighters it controls to transport shipments from Taiwan to Europe.

Now on demand on WHAT THE TRUCK?!? Dooner is joined by Matt McLelland; Evan Shelley; Phil Hyland; Estifanos Estifanos; Frederic Kauffmann

Ryder System Inc. is acquiring contract manufacturing and packing company Impact Fulfillment Services in a deal involving operations in 15 states.

Averitt Express received the highest overall ranking, with Old Dominion Freight Line voted top national less-than-truckload carrier in a value and loyalty survey.

The Prince Rupert Port Authority is starting construction on a project that will increase rail-to-container transloading at the Canadian port, particularly for agricultural, forestry and plastic resin products.

Convoy’s story, while tragic for investors and insiders, should prove cautionary for other founders.

Amerijet, a mid-tier cargo airline based in Miami, is trying to block a startup operator of business jets owned by Korean Air from gaining flight access to the U.S. because it says the Korean flag carrier is undermining its expansion into Korea.

This week in Borderlands: Cargo theft trends are changing as supply chains shift to border regions; a $65 million cold storage facility could be headed to Central Texas; Gebrüder Weiss opens a logistics operation in Laredo; and a truck driver is stopped at the border with $12 million in cocaine.

It may not seem or read like it, but the trucking market is slowly tightening. The question is how much time till it is noticeable?

Less-than-truckload carrier XPO Inc. (NYSE: XPO) says it has launched an over-the-road operation for team drivers. Only existing teams can currently qualify for the program, which has not been formally […]

Soy Transportation Coalition director says farmers diverting product from weak export market.

FMCSA’s latest crash data is a hopeful sign for safety as trucking regulators consider new rules to reduce deaths and injuries.

New economic demands from striking UAW employees at Mack Trucks brings a strong retort from the truck maker.

Now on demand on WHAT THE TRUCK?!? Dooner is joined by Craig Fuller; JP Hampstead; Chace Barber; Ryan Schreiber; Daniel Stanton

Outside of the holiday rush periods, the fundamental lack of freight demand will continue to expose the lingering overcapacity in the market.

The Brotherhood of Railroad Signalmen and Norfolk Southern, with technical input from the Federal Railroad Administration, will conduct a one-year pilot program to identify best safety practices.

Deputy Editor Brielle Jaekel and 3PL expert Mary O’Connell tell stories of haunted highways to celebrate Halloween on the latest episode of Tracks Through Time.

Carriers expect muted peak season with few spot opportunities.

Enabling information sharing between departments will help CSX not only cut costs but discover new business opportunities, COO Mike Cory said on the railway’s third-quarter earnings call.

Can Hyliion pivot to make stationary generators the base of its business as it decides whether to pursue the Hypertruck ERX?

Five years after the first multistory warehouse was delivered, questions still remain about the model’s viability in the U.S.

The first Airbus A321 converted freighter has been cleared by authorities to begin commercial service in China.

Knight-Swift Transportation beat lowered third-quarter expectations Thursday and said the market appears close to a tipping point.

Triumph Financial’s earnings saw a tighter EBITDA loss at TriumphPay and a largely flat average invoice price in its transportation factoring business.

Eastern U.S. Class I railroad said its third-quarter net profit fell 24% amid lower operating revenues.

Aspects of freight and transportation are prominent as some of the most-loved horror classics. We polled the FreightWaves’ staff to see what their favorites are.

The cross-border trucking industry is recovering from a migrant surge and Texas inspections, trade officials said.

On his first earnings call as Union Pacific’s CEO, Jim Vena said his goal for the railway is to “win and be the best in the industry.”

“We look forward to a moderate rebound in cargo volume through the end of the year,” said Port of Long Beach CEO Mario Cordero.

American Airlines Cargo had a disappointing, but expected, third quarter. Management says new aircraft and operational enhancements should help attract customers as the market improves.

On this episode of Taking The Hire Road, Jeremy Reymer, founder of DriverReach, is joined by a great industry friend and partner, Max Farrell, co-founder and CEO of WorkHound.

Transfix has closed a $40 million Series F funding round during “one of the most challenging markets in freight history,” company officials said.

Prospective acquirers are looking at Convoy’s platform and engineering and product teams.

Seattle-based digital freight broker Convoy on Wednesday canceled all shipments from its marketplace and company representatives promised more details of a business transition were forthcoming. By Thursday, company employees were told in a meeting that Convoy was “closing down its core business operations.”

Digital brokerage Convoy is closing, with no buyer coming in to rescue its operations.

Pam Transportation Services sees truckload fundamentals weaken further during the third quarter.

Mega-forwarder Kuehne+Nagel is working with one of its top air logistics vendors to make airport cargo transfers faster.

Austin, Texas-based Tank Payments, a trucking fintech company, has received Airbnb’s Economic Empowerment Award.

The impacts of double brokering are felt by carriers and brokers alike, disrupting operations and causing financial and liability risks for everyone involved.

A third-generation family-owned trucking company and brokerage — Certified Freight Logistics, headquartered in Santa Maria, California — is ceasing operations on Saturday after 95 years, citing “falling freight rates and reduced volume.”

Lower revenues dented Union Pacific’s earnings for the third quarter of 2023.

Omnichannel fulfillment provider Stord’s new service is designed to make delivery to retail DCs more affordable for smaller merchants.

Proterra Inc. has extended the bankruptcy auction dates for its three electrification business units while it continues in business.

Nikola will replace battery packs in its electric trucks following several fires. The pack is a high-cost component.

Officials from Nexxiot and Deloitte talk with FreightWaves in this Q&A about how combining data on container movements and a container’s financial streams can help ward off illicit trade.

Automaker Tesla’s plan to build a factory in Mexico could be delayed past 2025, CEO Elon Musk said Wednesday.

Industry could see more freight brokerage closures amid a changing financial climate.

Truckload carrier Marten saw its earnings fall from a year ago and detailed how much of that was caused by higher fuel prices. 

Volvo Group reported strong third-quarter results but reported slowing orders as trucking demand returns to normal.

Shippers aren’t paying freight forwarders because their cargo was delayed. Now those forwarders want Qantas Airways to eliminate their handling charges because of a self-inflicted operational breakdown.

On demand on WHAT THE TRUCK?!? Dooner is joined by Craig Fuller; Brittain Ladd; Lee Brittain; Thomas Wasson; Justin Martin

Digital brokerage Convoy has canceled all shipments and shut its load board, with an announcement of its future upcoming.

U.S. Rep. Doug LaMalfa, R-Calif., argues that a long-standing tax on new trucks is an inefficient way to sustain the ailing Highway Trust Fund.

Cass’ shipment data was up sequentially for a second straight month in September and the truckload linehaul index was positive for the first time in more than a year.

Patrick Whitehead and Derek Taylor will lead different aspects of CN’s operations as the Canadian railway seeks to make its operations more “innovative” and “modern.”

FreightTech company Flock Freight’s chief revenue officer has departed after eight months. The company also is cutting positions on its social and creative teams.

Chemical distributor benefits from close relationships with its carrier partners.

Lingong Machinery Group is investing $5 billion to build a plant and industrial park in northern Mexico

Activist investor Ancora said it will move to remove Forward Air’s board and CEO if a Tennessee court rules a shareholder vote on the Omi merger is warranted.

J.B. Hunt’s overall financial performance in the third quarter was weak, but slight strengthening in intermodal volumes was celebrated.

United Airlines had a weak quarter for cargo revenue, but it’s on par with the rest of the industry.

Cosco earned more than $800 million in the third quarter, while one analyst expects Zim to lose more than $200 million.

Global Crossing Airlines is using its small regional jets to airlift aid to Israel. Other U.S. carriers are more cautious and have canceled flights to Israel until further notice.

Welcome to the WHAT THE TRUCK?!? Newsletter presented by AIT. In this issue, ATA revises driver shortage numbers; CEVA gets robots; and record out-of-service orders. ATA gets it wrong on […]