The Daily Dash is a quick look at what’s happening in the freight ecosystem. In today’s edition, we highlight a strong report for Old Dominion, an interesting sustainability study and more.
The High Five
1. Old Dominion Freight Line reported Thursday that the high-demand environment continued through May. The less-than-truckload carrier said May revenue per day was up 47.6% year-over-year, which followed a more than 50% increase in April. Todd Maiden’s report
2. Shippo, an e-commerce shipping platform, has raised $50 million in new funding led by Bessemer Venture Partners. The company has raised a total of $154.3 million since 2014, with this round pushing Shippo to unicorn status, now valued at $1 billion. Grace Sharkey’s story
3. Skyrocketing demand for e-commerce has supply chains scrambling to adapt and transition to more sustainable operations. A DHL white paper released Thursday explores the technologies that need to be further developed and the ways that e-commerce has a net-positive impact on the environment. Alyssa Sporrer’s story
4. The U.S. Department of Transportation says the estimated cost of weather-related delays to trucking companies ranges from $2.2 billion to $3.5 billion annually. Improving road condition forecasting could not only save lives but help the bottom line of the vital trucking industry. Nick Austin’s story
5. Demand for rail equipment and railcars is likely to grow in 2022 and 2023 as customers become more confident about economic recovery in North America, according to rail experts with consulting firm FTR Transportation Intelligence. Joanna Marsh’s report
Five more to check out
Flash Group raises $150M, becomes Thailand’s first unicorn
15-minute grocery delivery is real — and in New York, it’s free
Heat wave still scorching Western freight markets