The original injunction from the lower court was based on its conclusion that AB5 was in conflict with. For logistics and transportation, it will have a bigger impact promising to shake up the 8T industry. &183; Thursday, December 14, 2023. Learn More. Prior to founding FreightWaves, Fuller was the founder and CEO of TransCard, a fleet payment processor that was sold to US Bank. CMA CGM is investing 600 million in the Port of Cape Liberty in New Jersey. The FreightWaves TRAC spot rate from Los Angeles to Dallas, arguably one of the densest freight lanes in the country, is loosing its grip over prior gains. 1 above the 2019 level. CMA CGM is the latest carrier to report on the challenging environment and the massive loss of revenues. Total funding. Carlos Abrams-Rivera, Kraft Heinz executive vice president, announced the deal at the annual Consumer Analyst Group of New York (CAGNY). Compared to China, the U. This is the reason the carriers feel the way they do. FreightWaves proporciona evaluacin comparativa, anlisis, monitoreo y pronstico de la industria logstica global de 9. Noi Mahoney Wednesday, November 2, 2022. Postal Service contractor Matheson Flight Extenders (MFE) filed paperwork Thursday stating that it plans to eliminate 305 jobs and close its sorting facility in Chicopee, Massachusetts, by the end of October, bringing to about 1,000 the total job cuts it has announced in recent days. In addition, says the FRA, the almost 80 billion rail freight industry creates more than. The largest overhaul of shipping regulations since 1998, the legislation broadens the regulatory powers of the Federal Maritime Commission with the goal of. That figure is 18 more than the average compensation from 2019. Subscribe to our Classic Newsletters Newsletters that never seem to go out of style. For the first time ever, a sitting president is even supporting strikes. But generally speaking, cargo payloads for big rigs or 18-wheelers are as follows Refrigerated trailers or reefers. CMA CGM is the latest carrier to report on the challenging environment and the massive loss of revenues. 1 min. The Cass reports suggestion that the market has begun to bottom had some overlap with a Morgan Stanley report that projects that truck rates as measured by the Wall Street company will increase to 2. Dec 13, 2023 According to the United Nations Conference on Trade and Development (UNCTAD), maritime shipping industry growth will likely slow or remain flat in 2023, driven by inflation and the ongoing war in Ukraine. The teams experience spans every area of the supply chain, helping the company create unique solutions for the freight community. Morgan Stanleys (NYSE MS) Freight Pulse showed sentiment among the group improved slightly even as data points have yet to point to an upward trajectory for freight markets. If the Teamsters strike against UPS, Amazon would bring that business in-house for delivery via its delivery partners, according to Satish Jindel, head of consultancy ShipMatrix. Of shippers polled, 38 said they will likely maintain current inventory levels, which was a 10-percentage-point increase from the fourth-quarter report. Convincing consumers may be trickier, however. According to the U. 1 million. (Photo Jim AllenFreightWaves) Listen to this article. 6 to a record 2. Join us June 21-22, 2023, to learn first-hand how companies are digitally transforming the management of their supply chains. Our freight market updates are brought to you by FreightWaves SONAR , our high-frequency freight market intelligence platform that provides near real-time trucking, railroad, ocean, and air freight transportation data and actionable intelligence. Freight shipments and expenditures dipped further in November, according to data compiled in the Cass Freight Index. Without logistics, the supply chains that keep. Nearshoring has the potential to boost the growth of Mexican manufacturing exports to the U. , correspondent for Automotive News, where he focused on regulatory and policy issues surrounding autonomous vehicles, mobility,. 86 per week through July 29, increasing to 507. A letter obtained by FreightWaves shows less-than-truckload carrier Yellow Corp. Freight broker Coyote Logistics is looking to again reduce its workforce as it struggles with a dramatic freight downturn that has squeezed revenue across the brokerage sector. Freightwaves Tech Newsletter (Tuesday Weekly) Stay up to speed on the latest technology and trends impacting the freight industry with this weekly newsletter. Among the former Polar executives indicted by the Justice Department is Lars Winkelbauer who was chief operating officer for. Although the market was filled with rumors of bankruptcy at Convoy Wednesday morning not surprising when all loads are summarily canceled there has been no bankruptcy filing by Convoy, according to a check of public records by FreightWaves. Port Houston sets annual record with 3. Federal regulators plan to propose setting a truck speed limit using electronic engine devices in a proposed rule anticipated in 2023. imports since at least the early 1980s. One of the biggest issues that the U. even further from 455 billion today to an estimated 609 billion over the next several years, according to a recent report from Morgan Stanley, Mexico Is Poised to Ride the Nearshoring Wave. America shipped, received and returned 21. He is also the CEO of FLYING Magazine, the world&x27;s most widely read aviation magazine. You can access market trends, analysis, charts, and videos on topics such as maritime, technology, pricing, regulation, and more. This is not a diet. Dec 13, 2021 Central Freight Lines is the largest trucking company to close since Celadon ceased operations in 2019. On the other side of the country, the Ontario, California, market has recovered over 14 of its share of the outbound trucking market. , correspondent for Automotive News, where he focused on regulatory and policy issues surrounding autonomous vehicles, mobility,. Borderlands is a weekly rundown of developments in the world of United States-Mexico cross-border trucking and trade. The air freight forwarding industry is responsible for making sure shipments from one country to another are fully completed. Hawaiian Airlines will deliver packages to Amazons hub at CincinnatiNorth. The new system has a new look and feel and user interface that is super intuitive, super easy to use. 3 from the pre-COVID years of 2018 and 2019, respectively. 525 billion stalking horse bid as the winning offer of Yellow Corp. 2 min. They can be incentivized by carrier pricing that skirts residential delivery surcharges. We narrowed in on telematics for a couple of reasons, said Midha. In arguably one of the most important moves in its history, FedEx Corp. She is currently a staff writer, podcast producer and SiriusXM radio host for FreightWaves, a leading. He has spent most of his career working for domestic and international 3PLs right here in the heart of Freight Alley, in Chattanooga, TN. Clarissa Hawes. Box demand normally sees modest upticks of 1 to 2 each year. This marks the third Worker Adjustment and. The new master agreement consolidates all existing DHL contracts and represents up to CA2. 2 billion parcels last year, 1. FreightWaves and Convoy recently teamed up to present the first annual Shipper of Choice Award to a top-notch manufacturer, distributor or retailer. Listen to this article. Transportation infrastructure across the U. 67 per mile on average). FMCSAs guidance should explicitly reinforce that electronic load boards do not provide regulated brokerage and thus are not brokers. Disruption caused by the pandemic has forced the industry to expand its capacity and reduce costs to remain profitable. Asked about the likelihood of a work stoppage if the payment isnt made, Yellow declined further. At one point, FreightWaves reported on 10 trucking bankruptcies in a single week. 1 million short tons. One study found that American companies. Read More. s National Health Service (NHS) in collaboration with Apian which, interestingly, partnered with Wing in August. 9 min. Our FreightWaves TV events and freight conferences give you the opportunity to make connections, stay up-to-date and prepare. Cargojet to sell off new B757 freighters, pause 767 conversions. This is the reason the carriers feel the way they do. Knight-Swift Transportation (NYSE KNX) announced Monday further expansion into the less-than-truckload market. Roughly half of Yellows Teamster employees are covered by Central States. 1 min. Over the past three months, the spread has fallen 60. In an exclusive interview with FreightWaves, Martin, CEO of SEL Supply Chain Solutions (SELSCS) of Fort Worth, Texas, said his year started off. John Kingston. Eric is the Supply Chain and Air Cargo Editor at FreightWaves. The integrated parcel and logistics giant confirmed Thursday it wants to trim senior pilots from. Congress will soon schedule a vote as early as next week on the Ocean Shipping Reform Act of 2022. The air freight forwarding industry is responsible for making sure shipments from one country to another are fully completed. (Source Freightos Air Index on FreightWaves SONAR platform) All the components or accessories that circle around those tech releases . 7, while prices for warehousing services increased 20. 2, 2020. Prior to founding FreightWaves, Fuller was the founder and CEO of TransCard, a fleet payment processor that was sold to US Bank. Todd began his career in banking and finance before moving over to transportation equity research where he provided stock recommendations for publicly. trucking history could occur in the coming days when the nations third-largest less-than-truckload carrier, Yellow Corp. (Photo Credit Jim AllenFreightWaves) Listen to this article. FreightWaves is the most trusted provider of global supply chain market intelligence. The global shipping industry is constantly evolving, and the COVID-19 pandemic began a marked shift in how container shipping operates. The company ranked No. Oct 10, 2023 The NRF and Port Tracker previously predicted full-year imports for the ports it covers of 22. Our high-frequency price, demand, and capacity data and analysis allow our customers to benchmark, analyze. FreightWaves John Kingston first reported on Jan. , correspondent for Automotive News, where he focused on regulatory and policy issues surrounding autonomous vehicles, mobility, fuel economy and safety. However, the high-low substantiation. Jorge Canavati, a principal at J. Eric is the Supply Chain and Air Cargo Editor at FreightWaves. 68, and will be 2. They handle everything from storage and inventory management, to customs clearance, international export, import documentation, and more. Monday, July 31, 2023. For every General Motors job, theres six. Marston said future convoy efforts may become a state-level thing. In arguably one of the most important moves in its history, FedEx Corp. imports since at least the early 1980s. Our award-winning team combines the best in broadcast journalism with the diesel in our veins as we bring you the inside scoop on what&x27;s happening in freight right now. An award-winning business journalist with extensive experience covering the logistics sector, Eric spent nearly two years as the Washington, D. Our high-frequency price, demand, and capacity data and analysis allow our customers to benchmark, analyze. Unionized LTL carriers market share dropped from 42 in 2002 to 22 in 2022. Maersk began the year with 110,000 global employees. A Wednesday report showed the LMI. Subscribe now. 19 shutdown paid the vast majority of carriers. The transition will bring FedExs (NYSE FDX) air, ground parcel and FedEx Services businesses under one umbrella, effective June 1, 2024. In this fireside chat, FreightWaves chief economist Anthony Smith talks with Union Pacifics Matt Gloeb about how collaboration between the railroad and truck carriers in the intermodal space can help customers reach sustainability goals. Thats an uncomfortable reality for those. 86 per week through July 29, increasing to 507. 15 to 18. FreightWaves news, content, market data, insights, analytics, innovative engagement and risk management tools are unprecedented and unmatched in the industry. Today, 3,000-pound gas vehicles driven by humans are used to. FreightWaves news, content, market data, insights, analytics, innovative engagement and risk management tools are unprecedented and unmatched in the industry. Edge Worldwide CEO on how attacks in the Red Sea are impacting operations and the supply chain. Ocean shipping giant Maersk has quietly ordered three new 767-300 freighters from Boeing and arranged with Miami-based cargo airline Amerijet to fly them on trans-Pacific routes as the companys air cargo division moves to gain a strategic foothold in the U. FreightWaves&x27; price, demand, and capacity data allow customers to benchmark, analyze, monitor, and forecast the global physical economy. 34 million TEUs in 2023 and 2. Joanna Marsh Tuesday, December 5, 2023. EST Monday, cross-border freight rail operations at. Formerly the Executive Editor at DC Velocity, Mark Solomon joined FreightWaves as Managing Editor of Freight Markets. The biggest festival in freight FreightWaves F3 Future of Freight Festival kicks off in a week, and it promises to be the best one yet. , correspondent for Automotive News, where he focused on regulatory and policy issues surrounding autonomous vehicles, mobility,. freight market volume has fallen more than 11 over the past year, according to FreightWaves tender volume data. &183; Tuesday, June 20, 2023. Formerly the Executive Editor at DC Velocity, Mark Solomon joined FreightWaves as Managing Editor of Freight Markets. Nov - 2023 -. Distraction topped the list among law enforcement, which made up about 5 of the 4,000 trucking industry stakeholders who participated in the survey. It recently signed a 10-year agreement with Waabi, a newer entry to the Level 4, high-autonomy space, to schedule loads on its digital freight network. The article is speculative and inaccurate and misrepresents information acquired through inappropriate means. Without logistics, the supply chains that keep. We narrowed in on telematics for a couple of reasons, said Midha. Atlantas percent of total U. Prior to founding FreightWaves, Fuller was the founder and CEO of TransCard, a fleet payment processor that was sold to US Bank. EST Monday, cross-border freight rail operations at. NTI is a seven-day moving average of spot rates that measures the U. FreightWaves news, content, market data, insights, analytics, innovative engagement and risk management tools are unprecedented and unmatched in the industry. She is currently a staff. This is the reason the carriers feel the way they do. and Canada plan to form a joint task force aimed at developing and integrating zero-emissions technologies for locomotives at a wider and accelerated scale. Dec 12, 2023 US, Canada to form task force to get locomotive emissions to net zero. 23, 2023 Uber Freight, approximately 3 of workforce. He also is a trucking industry veteran,. freight market volume has fallen more than 11 over the past year, according to FreightWaves tender volume data. Oct 18, 2023 FreightWaves has confirmed that the Convoy load board went blank on Wednesday. Chidester can stay home and refuse cheap freight, but he knows hes in a unique position. 7 in its fiscal 2024 second quarter, paced by a 6. You can access market trends, analysis, charts, and videos on topics such as maritime, technology, pricing, regulation, and more. s announcement Wednesday that it will integrate its two largest operating units June 1, 2024, in an effort to kick-start its way to as much as 6 billion in savings through 2027. 5 min. Company scaling back warehouse footprint amid e-commerce slowdown. Dec 19, 2023 &0183; At the most recent Future of Freight Festival (F3) hosted by FreightWaves, Trimble presented a rapid-fire demo of its newly enhanced back office and driver workflow, which combines several Trimble solutions via the Trimble Transportation Cloud to deliver. Join us as we explore how to make disruptions a thing of the past and look at emerging trends. 1 limit for total Neopanamax reservation slots (for all ship types) and its just an average, meaning that on many days over the past two fiscal years, there were more than five container ship transits. One of the biggest issues that the U. He also is a trucking industry veteran,. The letter said the company is on the verge of closing its. Congress will soon schedule a vote as early as next week on the Ocean Shipping Reform Act of 2022. They can be incentivized by carrier pricing that skirts residential delivery surcharges. Oct 19, 2023 A third-generation family-owned trucking company and brokerage Certified Freight Logistics, headquartered in Santa Maria, California is ceasing operations on Saturday after 95 years. Rates for larger modern-built product tankers known as LR2s averaged 36,700 per day as of Monday, less than half the 88,100-per-day high in early December. 9 min. Without logistics, the supply chains that keep. FreightWaves news, content, market data, insights, analytics, innovative engagement and risk management tools are unprecedented and unmatched in the industry. Jul 30, 2023 A bankruptcy filing could be announced Monday. The companys collapse put some 30,000 employees out of work, including 22,000 Teamsters members. (Photo Jim AllenFreightWaves) Listen to this article. FreightWaves announced on Wednesday the latest FreightTech 100 a selection of the most innovative companies in the freight technology space. 3 million TEUs. Air Canada remains committed to growing its startup freighter division despite canceling an order with Boeing last month for two 777 freighters, said CEO Michael Rousseau on Monday. 3 billion in 2022, an 8 increase compared to 2021. (Photo Jim AllenFreightWaves) A couple of truckload carriers said the bottom of the cycle has likely occurred but acknowledged that any material positive inflection in fundamentals wont happen until sometime. Eric is the Supply Chain and Air Cargo Editor at FreightWaves. After several years of volatility, freight rates in Mexico for transporting goods north to the U. The 33rd annual State of Logistics Report, the year-over-year report card of the U. The FreightWaves executive team has over 75 years of freight experience, founded or helped build 10 start-ups, raised over 1 billion in private capital and completed over 5 billion of M&A. authorities have shifted customs personnel to immigration. Less-than-truckload carrier Yellow Corp. Plans call for four freighters by the end of March 2024, according to a quarterly filing. The spread then collapsed during the first year of COVID, sinking to a mere 45 per ton on Nov. Thursday, May 11, 2023. The spread then collapsed during the first year of COVID, sinking to a mere 45 per ton on Nov. authorities have shifted customs personnel to immigration. Conagra Brands (NYSE CAG) ranked number 4 out Read More &187;. Monday, July 31, 2023. In the first nine months of 2023, compared to the previous year, income from operations dropped from 421 million to 63 million, an 85 decline. This huge and ambitious claim was made because of the transformative nature of the technology and the effect it will have on society. Merchants need to be conditioned to ship to alternate locations. 02 per mile in six months from the current 1. She is currently a staff writer, podcast producer and SiriusXM radio host for FreightWaves, a leading. 1 min. Millions of FedEx Corp. Distraction topped the list among law enforcement, which made up about 5 of the 4,000 trucking industry stakeholders who participated in the survey. The president of Estes Express went online Tuesday to announce all the companys operations are back to normal and it has overcome a massive cyberattack. Trucking caught in crossfire of Feds war on inflation. 6 billones. Join us June 21-22, 2023, to learn first-hand how companies are digitally transforming the management of their supply chains. is woefully underprepared to support manufacturers, retailers and logistics companies in navigating this new consumer landscape. 17 hours ago &0183; 3 min. The air freight forwarding industry is responsible for making sure shipments from one country to another are fully completed. Less than truckload (LTL) refers to shipping services for relatively small loads of freight (typically between 150 and 15,000 pounds). The number of excess pilots is likely more than that now given the continued deterioration in. The NRF and Port Tracker previously predicted full-year imports for the ports it covers of 22. It will shift the maintenance functions to its Indianapolis regional hub because the transition to a more modern fleet requires less maintenance capacity. UPS is gradually removing MD-11 aircraft (pictured) from its fleet because they are expensive to operate. The unified carrier, which has yet to announce a new name, will expand into Texas in the first quarter and will add Chicago at an undetermined time. Over the past week, the TRAC rate fell 3 cents per mile ww to 2. Mark Solomon. Coyote Logistics offers voluntary separation packages (Photo Jim AllenFreightWaves) Listen to this article. FreightWaves news, content, market data, insights, analytics, innovative engagement and risk management tools are unprecedented and unmatched in the industry. FreightWaves is a leading source of news and analysis on the truckload freight industry, covering topics such as trucking regulations, market trends, carrier performance, and industry events. It is much more painful than what it was during. The inspections overseen by the Texas Department of Public Safety (DPS) resumed Wednesday at the Ysleta-Zaragoza International Bridge in. The Logistics Managers Index tanks as May progresses. Inflation is up 22 in the last 3yrs. 83 million TEUs in 2024, compared to around 1. She is currently a staff. Nearshoring is a business strategy in which a. Knight-Swift Transportation (NYSE KNX) announced Monday further expansion into the less-than-truckload market. Dec 13, 2023 &0183; Top 10 FreightWaves Classics of 2023 - FreightWaves. (Photo Bob CampbellGreat Lakes Shipwreck Museum) Logistics and transportation have a long,. on Nov. He started setting up rail cars hauling soybeans, corn, chemicals and other commodities from the rural town. Freightwaves Tech Newsletter (Tuesday Weekly) Stay up to speed on the latest technology and trends impacting the freight industry with this weekly newsletter. Prior to founding FreightWaves, Fuller was the founder and CEO of TransCard, a fleet payment processor that was sold to US Bank. Without logistics, the supply chains that keep. 10 min. According to John McCown, author of the Container Volume Observer, August marked the West Coast ports lowest share of U. Stay updated on the latest changes and challenges in the truckload market with articles, videos, and data from FreightWaves. Before Waymo Via put its autonomous trucking business into hibernation, Uber Freight had big plans with them, too. provides a seasonality view that compares 2023 volumes thus far (white line) with volumes over the past four years. Its petition states the company made around 96 million in 2021 and approximately 68 million in 2020. Eric is the Supply Chain and Air Cargo Editor at FreightWaves. stakeholders are still digesting the Thursday nights calamitous announcement of a massive quarterly income shortfall at its largest unit and the withdrawal of financial guidance for the rest of its fiscal year a bit more than a quarter of the way through it. 18, 2017, federal law required truck drivers to digitally log their working hours in their cabs. UPS pilots are allowed under their collective bargaining agreement to honor. CMA CGM is investing 600 million in the Port of Cape Liberty in New Jersey. Deal expected to create 8th-largest US truckload fleet. 7 min. (Photo Jim AllenFreightWaves) A couple of truckload carriers said the bottom of the cycle has likely occurred but acknowledged that any material positive inflection in fundamentals wont happen until sometime. 19 shutdown paid the vast majority of carriers. Founded by Craig Fuller, a former trucking executive and journalist, FreightWaves offers a futures market based on US trucking spot rates, as well as news, data, and analysis on the industry. 50 per ton on Jan. Heartland Express announced Monday the acquisition of Contract Freighters Inc. Without logistics, the supply chains that keep. FreightWaves news, content, market data, insights, analytics, innovative engagement and risk management tools are unprecedented and unmatched in the industry. The billion-dollar verdict was split as a 100 million payment to Dzions parents, who brought the suit, and a 900 million punitive damages verdict. The forced relocation is adding costs and operational complexity for carriers even though the deadline was. Distraction topped the list among law enforcement, which made up about 5 of the 4,000 trucking industry stakeholders who participated in the survey. (Outstanding credit levels in billions of dollars. Zipline on Monday announced plans to significantly expand a medical drone delivery initiative within the U. But government stimulus and the shift from service to goods demand through 2020 and 2021 shocked box demand into some of its fastest growth in history. and Canada plan to form a joint task force aimed at developing and integrating zero-emissions technologies for locomotives at a wider and accelerated scale. Among the former Polar executives indicted by the Justice Department is Lars Winkelbauer who was chief operating officer for. Thats 3 of Uber Freights total workforce. NTI is a seven-day moving average of spot rates that measures the U. Joe Howard, a 20-year logistics industry veteran, warns of load-board scammers popping up in Southern California. same-store sales. 3 million TEUs. FreightWaves is the most trusted provider of global supply chain market intelligence. Shipments were down 8. In addition to China, the U. 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FreightWaves Clarissa Hawes reported that Illinois-based Marvin Keller Trucking filed for Chapter 11 bankruptcy on April 22. . Freightwaves
Jul 31, 2023 Company shuts down, bankruptcy filing expected. Founded by Craig Fuller, a former Wall Street trader, SONAR aims to bring transparency and intelligence to the freight marketplace with a technical analysis dashboard and API suite. Less-than-truckload carrier Yellow Corp. 4 min. 3 from the pre-COVID years of 2018 and 2019, respectively. Noi Mahoney. FreightWaves news, content, market data, insights, analytics, innovative engagement and risk management tools are unprecedented and unmatched in the industry. 23, 2023 Uber Freight, approximately 3 of workforce. A week ago, Patterson, who worked at TQL from August 2007 to April 2021, filed a lawsuit against TQL seeking damages and injunctive relief. Subscribe now. Over the past four days, the deterioration in truckload van spot rates has accelerated, falling over . May 22-23, 2018. announced Tuesday that it has filed a 137 million breach of contract lawsuit against the International Brotherhood of Teamsters for blocking proposed changes to modernize how the carrier operates. Listen to this article. UPS is gradually removing MD-11 aircraft (pictured) from its fleet because they are expensive to operate. (Photo Jim AllenFreightWaves) Listen to this article. The lawsuit, filed Monday in the U. Census Bureau. Starting Dec. 7, 2020, amid the IMO rule transition. Cross-border truck drivers are facing hourslong wait times at two Texas ports of entry as an influx of migrants and renewed state-run truck inspections are disrupting trade flows between Mexico and the U. 6 min. 15 per mile up 23 from May 1. A Georgia-based trucking company, which reported a significant drop in revenue this year compared with the previous two years, filed for bankruptcy liquidation on Friday. Five drivers were connected to FreightWaves through Yellows spokesperson, who remained on the phone with each interview. (Chart FreightWaves based on data from Ship & Bunker) The decline has been precipitous. (Photo Jim AllenFreightWaves) New legislation would for the first time require commercial warehouses, retailers and ports to allow truck drivers to use their restroom facilities when picking up or dropping off freight. 1 million TEUs still up 1. 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 and workforce nearly a year before it filed for Chapter 11 bankruptcy protection on Monday. SONAR provides high-level freight market visibility and market conditions and enables financial professionals to stay ahead of any potential issues. Wednesday, September 13, 2023. Freight broker Coyote Logistics is looking to again reduce its workforce as it struggles with a dramatic freight downturn that has squeezed revenue across the brokerage sector. (Photo Jim AllenFreightWaves) Listen to this article. Founded by Craig Fuller, a former Wall Street trader, SONAR aims to bring transparency and intelligence to the freight marketplace with a technical analysis dashboard and API suite. 3, 2022, when rail conductor Brian Raleigh got the call from Norfolk Southern that he would need to come into work. Nov 16, 2022 Stay informed with timely updates on freight trends that could impact your business. The company ranked No. One barge has the carrying capacity of 16 railcars or 70 tractor trailer trucks. Midwest Motor Express adds another link to national less-than-truckload presence. Deal expected to create 8th-largest US truckload fleet. It was the third best October ever for the U. A bankruptcy filing could be announced Monday. At the heart of it is a control tower that Ron said will have a super deep understanding of the. The West Coast ports share of the total sank to 45. Federal law requires employers of more than 100 workers to report mass layoffs to state. 3 min. 49 to 0. The FreightWaves Chart of the Week is a chart selection from SONAR that provides an interesting data point to describe the state of the freight markets. Todd began his career in banking and finance before moving over to transportation equity research where he provided stock recommendations. FreightWaves news, content, market data, insights, analytics, innovative engagement and risk management tools are unprecedented and unmatched in the industry. Uber Freight economist Mazan Danaf previously told FreightWaves that this spring saw the fastest declines in spot market pay in recent history. If the Teamsters are on strike, we will honor that strike and we will not fly, IPA spokesman Brian Gaudet told FreightWaves. Kehoe, Slyncs former chief of staff and retired U. 1 limit for total Neopanamax reservation slots (for all ship types) and its just an average, meaning that on many days over the past two fiscal years, there were more than five container ship transits. Dec 12, 2023 Total funding. Over the past few months, FreightWaves has received more than 1,500 nominations for 423 companies. You can access market trends, analysis, charts, and videos on topics such as maritime, technology, pricing, regulation, and more. Thats 3 of Uber Freights total workforce. With an all-Teamsters labor force and no plans to call in replacement workers to deliver goods, UPS shuttered its massive ground network rather than risk permanently damaging its reputation with customers. Customs and Border Protection announced Sunday that effective at 9 a. is offering pilots an early retirement package to reduce payroll amid declining package volumes. It was late Marchearly April of 2022 (green line) when the Chinese government. It has now decided to cut a further 3,500 jobs, including 2,500 by year-end and 1,000 in 2024. 23 hours ago Eric is the Supply Chain and Air Cargo Editor at FreightWaves. A Friday letter penned by Yellow Chief Financial Officer Dan Olivier is asking for a deferral for plan contributions for the months of July and August. FreightWaves SONAR MerQube FreightWaves Supply Chain Tech Index (Total Returns, white; and Price Returns, green). brokerage operations. Since an allied group of protesters launched their cross-country trek from California to Washington on Feb. for-hire, over-the-road dry van trucking market. imports, with the exception of the boom-inflated months in 2020 and 2021. Octobers inbound volumes were the highest since August 2022, back when volumes were still inflated by the one-off pandemic boom. Nov 13, 2023 FreightWaves news, content, market data, insights, analytics, innovative engagement and risk management tools are unprecedented and unmatched in the industry. By 2028, annual U. The president of Estes Express went online Tuesday to announce all the companys operations are back to normal and it has overcome a massive cyberattack. The billion-dollar verdict was split as a 100 million payment to Dzions parents, who brought the suit, and a 900 million punitive damages verdict. Robinsons board deliberated for months, it seems, on who. 5 times higher than in the most recent week. In an exclusive interview with FreightWaves, Martin, CEO of SEL Supply Chain Solutions (SELSCS) of Fort Worth, Texas, said his year started off. Inflation is up 22 in the last 3yrs. Join us June 21-22, 2023, to learn first-hand how companies are digitally transforming the management of their supply chains. 83 million TEUs in 2024, compared to around 1. Xpress is coming to an end with the announcement Tuesday that it is being bought by Knight-Swift at a significant premium to the companys closing stock price Monday. The West Coast ports share of the total sank to 45. A federal study estimated that the ELD rule would prevent 1,844 crashes and 26 deaths annually. trucking history could occur in the coming days when the nations third-largest less-than-truckload carrier, Yellow. Logistics costs as a percentage of GDP hit highest level in 13 years, State of Logistics Report says. Dec 15, 2023 &0183; Mark Solomon. 23, the AFCLF has collected more than 1. Everything was good. OOIDA and SBTC filed their petitions at the beginning of the COVID-19 pandemic amid accusations that brokers were colluding on prices. 3 million TEUs. The Port of New Orleans has been awarded a 73. Over the past three months, the spread has fallen 60. -Mexico border crossings at El Paso and Eagle Pass, Texas. Convoy counted Jeff Bezos, Bill Gates and (bizarrely) Bono among its investors. , correspondent for Automotive News, where he focused on regulatory and policy issues surrounding autonomous vehicles, mobility, fuel economy and safety. (Photo Jim AllenFreightWaves) The biggest bankruptcy in U. The key IRS per diem rate is staying steady in the upcoming fiscal year. (Chart FreightWaves based on data from Ship & Bunker) The key takeaway Just because a new ship is designed to use LNG or methanol, it doesnt mean the ship will actually burn LNG or methanol. for-hire, over-the-road dry van trucking market. CMA CGM is the latest carrier to report on the challenging environment and the massive loss of revenues. A Tuesday report aggregating responses from supply chain executives showed the index stood at 47. (Source Freightos Air Index on FreightWaves SONAR platform) All the components or accessories that circle around those tech releases think. You can access market trends, analysis, charts, and videos on topics such as maritime, technology, pricing, regulation, and more. Prior to founding FreightWaves, Fuller was the founder and CEO of TransCard, a fleet payment processor that was sold to US Bank. Shipments were down 8. FreightWaves SONAR is the world&x27;s first high-frequency market intelligence platform, offering a technical analysis dashboard and API suite that empowers clients with access to freight market developments, often weeks or months before competitors. , correspondent for Automotive News, where he focused on regulatory and policy issues surrounding autonomous vehicles, mobility,. FedEx Corp. 19 shutdown paid the vast majority of carriers. Nearshoring is a business strategy in which a. Logistics and supply chain experts are sounding the horn warning that the ripple effects of the targeted United Auto Workers strike manufacturing strikes against the Detroit Three will hit the trucking industry hard and could leave the smaller tier 2 and 3 suppliers filing for bankruptcy. Teslas new electric vehicle plant in Mexico could increase cross-border trade with the U. Listen to this article. Read More . With the first requirements of Californias Advanced Clean Fleets (ACF) rule set to go in effect in just a few weeks, the California Trucking Association (CTA) has asked a federal court to block the regulations implementation. He also is a trucking industry veteran,. trucking history could occur in the coming days when the nations third-largest less-than-truckload carrier, Yellow. There is a rebalancing act taking place that is pushing rates back into equilibrium. Landstar CEO Jim Gattoni to retire; Saia holds on to Yellows freight; Auction for Yellows terminals remains ongoing. More FreightWaves articles by Todd Maiden. Jul 31, 2023 Company shuts down, bankruptcy filing expected. After a year of headlines lamenting a congested supply chain, a report ranking port efficiency made it official Southern Californias ports were the least efficient in 2021. 83 million TEUs in 2024, compared to around 1. Millions of FedEx Corp. A Tuesday report aggregating responses from supply chain executives showed the index stood at 47. At the peak of the pandemic, containers essentially stopped moving. Eric is the Supply Chain and Air Cargo Editor at FreightWaves. The article is speculative and inaccurate and misrepresents information acquired through inappropriate means. On Tuesday, it pared that forecast slightly, to 22. The key federal per diem rate for transportation companies will be unchanged in the federal fiscal year that begins Sunday. Note FreightWaves occasionally publishes commentary from industry sources with expertise, information and opinion on current transportation topics. FreightWaves is a price reporting agency (PRA) focused on the global freight market and the leading provider of high-frequency data for the global supply chain. He started setting up rail cars hauling soybeans, corn, chemicals and other commodities from the rural town. Cross-border truckload freight rates could stabilize in 2023. Mark Solomon. These strategies tend to self-reinforce, as in the case of The Home Depots. Air Canada (TO AC) reported a 24 drop in third-quarter cargo revenue compared to the same period last year, to 155. Separate internal documents showed the procedures for closing the facilities as well as talking points to be used when. Kehoe, Slyncs former chief of staff and retired U. Thursday, December 14, 2023. . scrolller cum