It’s been a bruising year for the freight industry, battered by everything from bloated retail inventories and diesel prices to a barrage of bankruptcies. Some would say it’s been a trucking bloodbath.
In 2022, FreightWaves readers were captivated by these closures and bankruptcies of trucking companies, collapsing freight demand, regulations aimed at the trucking industry and much more.
Here’s a look at some of FreightWaves’ most-read news stories of 2022. It’s just a sample of the thousands of stories FreightWaves’ writers put out this year.
10. Chameleon carriers pose threat to nation’s roadways
Chameleon carriers have been a dangerous part of the transportation industry for decades, experts say. Read more.
9. C.H. Robinson lays off about 650 employees
Truck brokerage giant C.H. Robinson Worldwide Inc. laid off approximately 650 employees in November. The move came one week after the Eden Prairie, Minnesota-based company (NASDAQ: CHRW) reported weaker-than-expected, third-quarter results and strongly hinted at impending labor cost reductions to combat the impact of slowing demand and increased costs. Read more.
8. New legislation provides bathroom access for truck drivers
U.S. lawmakers are proposing a requirement that restrooms at commercial buildings and ports be available to truck drivers. Read more.
7. Get ready for the next supply chain shockwave
Earlier this year, a torrent of backlogged cargo in China was expected to overwhelm global ports once Chinese authorities end widespread COVID lockdowns. Read more.
6. Bank of America sounding the alarm on collapsing freight demand
In April, demand for truckers hit a 22-month low, according to Bank of America. It was the latest indicator that a trucking bloodbath was underway. Read more.
5. Bloated inventories hit Walmart, Target and other retailers’ profits, trucking demand
Truckers will need to be patient as retailers burn through their buffer stock. Read more.
4. FedEx Freight to begin driver furloughs
FedEx Freight, the less-than-truckload arm of FedEx Corp. and the nation’s largest LTL carrier, announced in November that it would furlough an undetermined number of drivers starting in early December. Read more.
3. California trucking company shuts down, files for bankruptcy
Navarro Trucking Group, which pulled intermodal containers out of the ports of Los Angeles and Long Beach, filed for Chapter 7 bankruptcy. Read more.
2. Truckers are filing coercion complaints with the feds at a record pace
Under pressure to move more cargo faster, truck drivers are filing complaints with the FMCSA at a record pace. Read more.
1. US import demand is dropping off a cliff
There’s no wave of containers coming to rescue U.S. freight markets. Booking data shows that U.S. imports are cratering. Read more.
Other top stories from 2022:
Lead FedEx Ground contractor says he may shut his business by Nov. 25
FMCSA revising guidance on freight brokers and agents
Falling freight rates shutter Iowa trucking company after 24 years
If the Teamsters union strikes, will UPS close its doors?
O/O for Schneider described as employee as appeals court kicks case back to lower court
Shippers ready to fight truck driver overtime pay bill in Congress
Illinois trucking company files for bankruptcy after $10M verdict
