Yellow ceases operations
Less-than-truckload carrier Yellow Corp. closed its gates at 12 p.m. Sunday.
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Less-than-truckload carrier Yellow Corp. closed its gates at 12 p.m. Sunday.
This week in Borderlands: BNSF Railway rethinks its plan to build a Texas logistics center after community opposition; Paschall Truck Lines adds a new cross-border terminal; Niagara Bottling will build a logistics center in Central Texas; and the Commerce Department honors three Texas-based export businesses.
An unseasonable upward trend in truckload tender volumes is giving domestic transportation providers the potential inflection point they have waiting for.
Because container liner profits plummeted off an extraordinarily high peak, some carriers are still posting hefty profits despite huge declines.
CPKC eyes opportunities for intermodal and for beefed-up business in Mexico to help recoup higher costs and lost revenue in the second quarter.
All Nippon Airways underperformed competitors by a wide margin in cargo during the last quarter as it prepares to invest in growing the cargo business.
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On an earnings call with analysts, Saia’s CEO and CFO tried to address the pending collapse of Yellow without mentioning the company’s name.
Universal Logistics reported revenue of $413 million and earnings per share of 90 cents during the second quarter.
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Against significant odds, the Federal Reserve might realize its once-unlikely goal of a “soft landing” — that is, taming inflation without also triggering a recession.
Yellow told nonunion employees that all locations are shutting down or seeing layoffs. The trucking company said regular operations cease Friday.
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Saia’s second-quarter earnings show a decline in volume but by a relatively small amount.
ArcBest reported an earnings miss Friday but that may not matter as its less-than-truckload unit is quickly taking on volume as a competitor winds down.
After experiencing two years of record growth during the COVID-19 pandemic, Jacksonville, Florida-based Surge Transportation, a digital freight brokerage, sought to find a buyer and slashed its rates nearly a year before it filed for Chapter 11 bankruptcy protection on Monday.
On Thursday, Yellow Corp. said it is seeking a buyer for its logistics business and the union said negotiations have been fruitless.
Hub Group reported $1 billion in revenue and earnings per share $1.44 during the second quarter.
CPKC released second-quarter earnings results as a merged company.
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Navistar saw a big drop in orders, but deliveries of new International trucks helped parent Traton to strong second-quarter results.
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Even truckload companies are being asked how a Yellow collapse might benefit them; Covenant had an answer on its second-quarter earnings call.
Rush Enterprises posted strong Q2 sales and profits, relying on its parts and services business amid trucking headwinds.
AFS Logistics CEO Tom Nightingale says that UPS’ efficiencies can’t offset “astronomical” cost increases alone.
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Truck broker Landstar issued worse-than-expected third-quarter guidance Thursday and said most metrics are still underperforming normal seasonal trends.
Revenue declines and a $416 million expense charge put pressure on Norfolk Southern’s second-quarter 2023 net profits.
Two of the top three global logistics powers took a big profit haircut during the second quarter and aren’t very optimistic about a seasonal upturn in shipping.
The Department of Transportation’s “supercharged” Freight Office will be tasked with overseeing and coordinating competitive grants and how they fit into a national freight strategy.
New sick leave agreements and other deals will increase Union Pacific’s labor costs. Investors on UP’s second-quarter 2023 earnings call wanted to know by how much.
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Covenant Logistics’ second-quarter earnings reflected, as expected, a weaker truckload market.
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At least two Yellow teams were given a prepared statement that “the company continues to prepare for a range of contingencies.”
Ryder’s second-quarter performance was mixed, but it forecast a much stronger second half, sending the stock climbing.
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Consumer demand is putting pressure on intermodal and lumber volumes and that is weighing on how CN views the back half of this year.
Old Dominion reported what will likely be best-in-class results for the second quarter and said recent turmoil at competitor Yellow Corp. hasn’t altered its strategy any.
Cargo volumes were a mixed bag for Gulf Coast ports in June, with Houston reporting container declines, while crude oil shipments boosted Corpus Christi.
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Former Union Pacific and CN executive Jim Vena will be UP’s next CEO, while sustainability and strategy EVP Beth Whited has been promoted to president.
Wabash reported record Q2 earnings because it was able to price its trailers and truck bodies higher than the cost of materials.
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A letter from the Teamsters negotiating committee on Tuesday showed it has been unable to come to terms with less-than-truckload carrier Yellow Corp.
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The Canadian wildfires and lower volumes for intermodal and crude oil put pressure on Canadian railway CN’s revenue for the second quarter of 2023.
A decline in loaded import volumes pulled the Georgia Ports Authority’s overall 2023 volumes lower.
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After rapidly expanding its fleet during the boom, ocean carrier Zim is backpedaling and shedding ships.
After experiencing record sales growth during the COVID-19 pandemic, digital freight brokerage Surge Transportation says it was forced to file for bankruptcy protection as it was unprepared for the abrupt decline in product demand and soaring shipping costs that rocked the transportation industry in April 2022.
PS Logistics said Tuesday it has acquired Jacksonville, Florida-based truckload carrier and broker Rinaudo Enterprises.
A new London-based airline called One Air has begun commercial freighter service. The odds for survival may be daunting unless it can expand beyond a single aircraft and the market improves significantly.
A tentative contract between UPS and the Teamsters doubles wage increases for part-time workers over the current pact.
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Paccar continued a string of record quarterly performances in Q2, posting a 70% gain in profits and a 24% increase in sales.
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Los Angeles International Airport has partnered with former NBA superstar “Magic” Johnson and others on planning a wholesale redevelopment of its extensive cargo facilities.
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The U.S. Chamber of Commerce is recommending a long list of fixes to the problem of large verdicts in truck accident litigation.
The 3rd-largest North American containerboard and box producer, Packaging Corp. of America, reported an eye-opening 10% box shipment decline.
The benchmark price of diesel used for most fuel surcharges went sharply higher this week, and it could signal the start of a broad increase.
Logistics real estate operator Link Logistics upgrades its portfolio in the second quarter, booking a 52% increase in leasing spreads.
Container lines did not manage post-boom vessel capacity as well as expected. In the trans-Pacific, they may be belatedly getting the hang of it.
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Stock analysts size up less-than-truckload market dynamics following weeks of turmoil at carrier Yellow Corp.
A Nikola truck damaged in a June 23 fire at company headquarters reignited, raising questions about a reported battery pack defect.
FedEx pilots have voted down an upgraded contract that would have raised pay scales by 30%.
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The Federal Railroad Administration wants more data on train lengths so that the agency can better assess what impact, if any, longer trains might have on operations.
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Central States extends health insurance coverage for Teamsters employees, averting a planned Monday strike at less-than-truckload carrier Yellow Corp.
This week in Borderlands: Mexico, Port Laredo remain on top for US trade; WeFreight expands operations into Mexico; cross-border carrier acquires 140 Navistar tractors; and nearly 50 pounds of cocaine seized from cargo ship in Texas.
The less-than-truckload sector has been disrupted by a very public dispute between Yellow and the Teamsters. Rates have already seemingly responded and may continue to see support.
As UPS labor negotiations are set to resume, the Teamsters gather for a rally Saturday in Atlanta.
Big-box facility leasing dropped 36% year over year, CBRE says.
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Expectations for peak season have waned, but container lines may have bounced off the bottom.
A Kansas judge on Friday denied Yellow Corp.’s request to halt a strike by the Teamsters, which the company says will force it into bankruptcy.
It will be difficult, if not impossible, to avoid a mess if shippers haven’t laid out contingencies for a Teamsters strike against UPS.
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Federal regulators have been asked to significantly revise — or scrap altogether — a rulemaking requiring side underride guards for new truck trailers.
Ocean carriers are steadily losing pricing power on the trans-Pacific as China to U.S. demand peaks for the second half of 2023.
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