News

OOIL reports record revenue but has “legitimate concerns about the impact of inflation and interest rate rises on consumer spending.”

Heartland Express’ big deal with CFI; broker sentiment survey; retail logistics; a Fall review; future of freight and more on WTT

Spencer Patton said he can no longer operate his business past Black Friday unless the FedEx unit renegotiates his contract.

A week after Apex Capital Corp., and its subsidiary, TCS Fuel, were targeted in a ransomware attack, Apex said Monday that it’s business as usual.

Oak Brook, Illinois-based Hub Group announced that it has acquired Tagg Logistics for $103 million in cash.

Many facets of trucking used to be highly regulated. But recently, Washington has kept its distance from the $800 billion industry.

Heartland Express announced Monday the acquisition of CFI’s non-dedicated dry van and temperature-controlled fleet in the U.S. and its logistics operation in Mexico.

The Surface Transportation Board wants to know how the seven Class I railroads expect to meet demand for rail service during the harvest season running from September into the new year.

Our sentiment survey of 166 freight brokers on their outlook for the third quarter of 2022 shows they are pessimistic about acquiring and retaining customers.

A new research paper found that no delivery method can match the energy efficiency of drones or small robots, but package delivery efficiency may be best left to vans.

Levi Strauss & Co. has developed a new technology that balances the consumer experience with business objectives when fulfilling e-commerce orders.

The Class 8 Tesla Semi electric truck created the market for battery-powered freight movement. Is production edging closer?

Spot rates on most global shipping routes continue to fall. The trans-Atlantic market is the exception: It’s holding firm near its high.

This week in Borderlands: Canada remains top US trading partner; Flexport executive joins Nuvocargo; PLA opens Houston pallet facility; and North Texas Trailers acquired by Ehrsam Enterprises.

Middle-market private equity firm Red Arts Capital announces its latest investment in the supply chain.

Used trucks commanded lower prices at auction and retail in July as the overheated equipment market continued to cool.

The worst may be over for low water levels on the Rhine, but the impact on the supply chain will take time to fully ease.

Federal regulators are inviting the public to comment on a truck driver’s request to be exempt from hours-of-service rules.

The discrepancy between inbound and outbound volumes in Louisville, Kentucky, is the greatest it has been on record. Philadelphia continues to see an increase in the Headhaul Index.

Since the pandemic started, many shippers found their existing contracts unable to ensure carrier compliance. Supply and demand were especially volatile, and so spot rates, which are more sensitive to changing market conditions, handily outpaced contract rates.

On WTT: The fantasy sports supply chain; inside the world of double brokers; brake safety week; Tesla Semi updated

TuSimple told federal officials about the crash of one of its supervised autonomous trucks and temporarily grounded its fleet. But it neglected to inform its partner, Navistar.

A partnership between DHL Express and Singapore Airlines is taking off following the delivery of a new Boeing 777 freighter.

FMCSA’s Safe Driver Apprenticeship Pilot Program will analyze the safety benefits or hazards that young drivers pose to interstate commerce.

Three delivery contractors acknowledge that some of their peers are struggling. But they maintain the contractor model remains on solid ground.

Like others, Amazon sees a large opportunity in business-to-business e-commerce, and it is positioning its Amazon Business unit to take advantage.

Ports in Houston, Corpus Christi, Texas, and Mobile, Alabama, continued to see increased cargo volume in July.

In this issue of the WHAT THE TRUCK?!? newsletter: ocean rates sink; Walmart inventory woes; Amazon adds peak season fee; and more.

U.S. imports accelerated in July, with inbound cargo from China reaching a year-to-date high, according to Descartes.

CEO Craig Knight has been ousted as Hyzon Motors CEO as financial issues heightened the trucking fuel cell maker’s risk of Nasdaq delisting.

Flexport has tapped another Amazon veteran for its leadership ranks as the logistics company moves to the next level of growth.

Outbound tender volumes are driving down the Headhaul Index in Baltimore, while volumes in Detroit continue to soar.

Attracting and retaining a younger workforce.

Daimler Truck is exerting greater influence over independent subsidiary Torc Robotics by bringing in its own CEO.

July was a record month at the Port of Virginia. At SC Ports, July’s volumes were up from June as the Port of Charleston sought to improve port flows.

Canadian midstream operator Keyera and CN are considering creating an energy terminal that would serve the production-rich region.

FreightWaves interviewed an expert to learn more about what it will take to adapt supply chains to a circular economy.

Narvar is teaming with logistics-as-a-service platform Fillogic to create a new option for retailers to handle e-commerce returns.

Tom Barone, who helped lead e-commerce operations at eBay Enterprise and CommerceHub, joins Stord as the company’s first president.

Management from J.B. Hunt Transport Services doubles down on long-term growth initiatives in its intermodal unit.

With East Coast ship queues high, port executive Gene Seroka says: “For cargo owners looking to rechart their course, come to Los Angeles.”

How well will consumer packaged goods (CPG) purchases ultimately hold up?  Not only is CPG demand forecasting arguably more difficult than ever, it is also more critical than normal since […]

Mark Hanchett, CEO of Atlis Motor Vehicles, has taken an unusual path to fundraising for his electric truck company, which soon plans to go public. Hear how he did it.

The Headhaul Index in Denver dropped to its lowest score since June, and both inbound and outbound volumes in New Orleans remain undecided on which direction to take.

Solvento CEO Jaime Tabachnik explains how his fintech startup expedites payments for the trucking industry in Latinamerica.

After initially blaming an “unplanned system outage” for its computer networks being knocked offline since early Monday, Apex Capital Corp. and its subsidiary, TCS Fuel, confirmed late Tuesday that both companies’ systems were targeted in a malware attack.

Pymnts CEO Karen Webster chats with Bryzos founder and CEO Shep Hickey about the challenges and opportunities involved in creating an online marketplace to sell steel for industrial uses.

Crowley Solutions CPO Shashank Panchangam explains how siloed data will stall the industry’s fintech future.

This fireside chat recap is from FreightWaves’ Supply Chain Meets FinTech event on Wednesday. FIRESIDE CHAT TOPIC: The future of getting paid from shippers DETAILS: Everyone wants to know how […]

Jake Lawson, the chief commercial officer of truckload carrier U.S. Xpress, is leaving the company, the second key departure in eight months.

The trucking industry has seen a wave of new digital payment options connecting shippers, brokers and carriers.

Trans-Pacific spot container shipping rates continue to head lower. Zim appears more at risk than some of its rivals.

X Delivery’s Mark Lavelle chats customer expectations for e-commerce costs at FreightWaves’ Supply Chain Meets FinTech event on Wednesday.

Digital ledger technology creates more transparency in the freight payment process, reducing disputes between parties and speeding up payment.

Hellmann Worldwide Logistics took another step in its drive for global expansion by buying out its partner in Peru.

Developing the next generation of liquidity and velocity of payments in the supply chain will require lesson from across other industries.

U.S. Bank and J.B. Hunt are working together on payments solutions. In this fireside chat, leaders from both companies talk about the state of the financial supply chain.

Karen Webster, CEO of PYMNTS.com, discussed the importance of cross-border e-commerce businesses using embedded payment platforms with LianLian Global’s David Messenger and David Emerson of Seko Logistics at FreightWaves’ Supply Chain Meets FinTech event on Wednesday

The presidential emergency board is charged with examining the sticking points in the stalled contract negotiations between U.S. freight railroads and their unions.

Melissa Forman chats with Anne Reinke and Mark Baxa about how important it is for there to be communication across all platforms in order to create a more efficient payment process for carriers.

Trucking fintech AtoB on Wednesday announced raising $155M in a Series B round.

Chemicals and logistics experts discuss the impacts of using payments technology during FreightWaves’ Supply Chain Meets FinTech event.

Vaclav Smil, author of “How the World Really Works,” joins FreightWaves’ Supply Chain Meets FinTech event to talk about supply chain frictions.

JOOR CCO Jennifer Rosado and The Fision CTO Tom Kanach discuss how upscaling tech and sales works in the business of fasion.

Tyson Foods was chosen as a Shipper of Choice — an award that recognizes retailers and distributors that value their carrier relationships.

Love’s has killed plans to build a truck stop on Interstate 90 in Montana, with local opposition winning out despite government approval.

HyperTrack has raised $25 million as it looks to build an API-first approach to routing the final mile.

Hong Kong’s COVID rules have handcuffed Cathay Pacific’s pandemic recovery, and typhoons last month wreaked havoc with freighter deployments.

Navistar’s S13 integrated powertrain will be the truck manufacturer’s last internal combustion engine as the trucking industry decarbonizes.

Walmart pulls back on its order activity to align its inventory levels with projected demand.

Rates and sentiment in dry bulk shipping have fallen hard. Economic pressures in China appear to be a major culprit.

Federal regulators are issuing new guidance for truck driver medical qualifications, and sleep apnea regulations could be a next step.

Canadian Pacific has won clearance from U.S. regulators for its KCS acquisition and has reached a labor agreement with union leaders for train and engine employees.

The latest whammy? A U.K. port strike could delay deliveries of Guinness.

A report by S&P Ratings keeps Penske’s debt ratings at its current level, but the outlook is improved.

The freight market in Lexington, Kentucky, continues to heat up, as Jacksonville, Florida, cools down.

Leases of mega-warehouse facilities rose 50% in the first half of 2022, CBRE study says. But leasing by e-commerce companies declined dramatically.

Netradyne’s Ryan Knight says fleets should identify their pain points before choosing a camera solution.

The logistics industry is collaborative by nature and leaning into that fact is one of the most effective ways carriers can ward against turmoil during market shifts.

Geodis is acquiring Need It Now Delivers, adding 300 locations to its U.S. e-commerce network.

Inland port projects and rail cargo handling facilities are among the projects awarded grants through the Department of Transportation’s RAISE program.

BigCommerce will offer Affirm buy-now, pay-later payment options to its merchants.

Brokerages that already have customer contracts allow agents more rate stability

With fuel costs rising and a potential recession looming, providers need to be find a better way to optimize delivery instead of just passing along costs.

Pete Zimmerman of enterprise resource planning software firm VAI explains why AI can be the cornerstone of food distribution.

When the 2023 orderbooks for trailers finally open, the suppressed booking numbers will flip in a hurry, but that isn’t happening yet.

The benchmark diesel price published by the Department of Energy has now dropped for eight straight weeks.

The latest shipping company poised to delist has a market cap of $3.5 billion. The latest new entrant’s market cap is under $20 million.

FedEx Ground contractor Spencer Patton has backed off a request for a 50-cent increase per stop and a 20-cent-per-mile hike for solo and team runs by contractors between hubs.

Precision scheduled railroading again took center stage during a roundtable concerning rail service.

An annual ATRI survey reflects the weakening correlation between retail diesel prices and actual trucking fuel costs.

Outbound tender rejection rates in Memphis fell hard to the lowest value since April 2020, while outbound volumes in Philadelphia continue to rise.

Supply chain shortfalls continue to hamper retailers; Peloton’s pivot; protecting peak season cargo; UPS contract talk heats up now on demand on WHAT THE TRUCK?!?

Experts discuss the different scopes of emissions in supply chains and how warehouse operators and fleets can take advantage of efficiency gains to lower emissions.

Walmart announced a new high-tech consolidation center in Pennsylvania, creating up to 1,000 jobs, will open soon.

A FreightWaves survey of carriers suggests most believe California’s AB5 independent contractor law will affect their business.

Pitt Ohio initiates direct service into and out of New York state.

Cass data shows changes in freight shipments and expenditures during July were less volatile when compared to prior months.

DoorDash continues expanding its grocery delivery business, adding 420 locations through Grocery Outlet Holding Corp.

Airbus is so pleased with its first three Airbus A321 freighter conversions that it plans to add six more of the jets.