Werner’s Q2 earnings saw worsening financial conditions but improving freight market conditions and signs of capacity tightening.
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.
Media outlet TMZ reported that singer-songwriter Taylor Swift gave each truck driver who worked as part of her Eras Tour a bonus check of $100,000 before her Santa Clara, California, show last Saturday.
SONAR ocean container booking data suggests that the predicted freight rebound in the second half of 2023 may be increasingly unlikely. Import and ocean container booking data is typically used as a leading indicator for future truckload volumes, as containers are offloaded in ports and transferred into intermodal or truckload orders.
Christopher Thornycroft, executive vice president at Redwood, joined us to talk about the Lunar New Year and what it means for freight demand. For those unaware, the Chinese Lunar New Year holiday began Jan. 22 and typically lasts two weeks. This year, it will end with the Lantern Festival on Sunday.
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.
Freight payments data from U.S. Bank showed sequential increases in volumes and costs during the second quarter.
U.S. Bank, a major lender to the supply chain, has brought in LiquidX as its fintech partner to speed up its digitization process.
Every region except the Southwest moved less volume than in Q3.
U.S. Bank’s Spend Index does include the price of fuel, which has helped to drive it higher.
“In times of natural disasters, you find an increase in purchases of fuel, maintenance, food and hotels for drivers. … Many of our current customers need help routing their fleets during those times.”
Also on the podcast: the flat market in diesel of the past few weeks may be disappearing.
This white paper details how carriers can work to gain better visibility into their financial status and strengthen relationships with their customers.
Declines in trucking shipments and spend, current and future, highlight the takeaways from U.S. Bank’s first-quarter Freight Payment Index report.
Court filings show that FTI, the Canadian sibling of HVH, had more than C$18 million in debts including C$16 million to U.S. Bank in one of the country’s few documented trucking failures of 2019.
