Freight waves news.

Discuss general economic news, banking malfeasance, paper bug gestalt. Threads 743 Messages 8.6K. Threads 743 Messages 8.6K. Fed will overshoot rate increases. Yesterday at 12:50 PM; pmbug; Other Markets. Stocks, bonds, crypto and other investment markets. Threads 83 Messages 8.4K. Threads 83 Messages 8.4K.WebA captain who works 40 years at FedEx can expect to make slightly more than $20 million in pay, benefits and retirement over his or her career compared to the industry average of about $18.8 million, according to analysis by aviation analyst Kit Darby. But the total compensation now lags Alaska Airlines, Hawaiian Airlines, Delta Air LInes ...Jul 25, 2023 · 3 min. Yellow appears to be halting pickups in some areas of the Northeast, as well as Ohio, California and Texas, according to account executives who spoke to FreightWaves anonymously and company communication shared with FreightWaves. Nationwide, Yellow said in a memo sent to employees and shared to FreightWaves on Tuesday it was “limiting ... Seed producers are highly integrated shippers, meaning that they are not only moving test seeds globally, but also transporting large volumes of seeds across continents to meet different planting seasons. For example, between 10% and 25% of corn and soybean seed planted each spring in the U.S. Midwest originates in South America …California is next, adopting ELD use for drivers at the turn of the year. The California Highway Patrol has issued a final rule requiring ELD use by intrastate drivers on and after Jan. 1, 2024. The rule requires the use of devices that meet the requirements in Part 395, Subpart B of the Federal Motor Carrier Safety Regulations (FMCSRs) by ...

U.S. import numbers confirm that at least some of this rate gain is demand-driven. On Monday, Descartes reported that U.S. ports imported 2,196,268 twenty-foot equivalent units in August, up 0.4% from July and 5.5% from June. This August’s volumes were 2.5% higher than volumes in August 2019, pre-COVID. (Chart: Descartes.

The heart of the Haslam complaint — filed as an action by Pilot Corp. — is that in violation of an earlier agreement, Berkshire Hathaway, upon taking control of Pilot Travel Centers (PTC), switched its accounting to a “pushdown” method. Haslam says this is reducing the value of Pilot, which would impact what Berkshire Hathaway would pay ...

Jul 21, 2023 · 2 min. The U.S. District Court for the District of Kansas ruled Friday against less-than-truckload carrier Yellow Corp.’s request for an injunction, which would have kept its Teamsters employees from engaging in a work stoppage. In her decision, Senior Judge Julie Robinson denied a motion for a temporary restraining order and injunction. The air freight forwarding industry is responsible for making sure shipments from one country to another are fully completed. They handle everything from storage and inventory management, to customs clearance, international export, import documentation, and more. Because of their expertise in international shipping, air freight forwarders also ...Nov 28, 2023 · Combining data streams to combat illicit trade in container shipping. Officials from Nexxiot and Deloitte talk with FreightWaves in this Q&A about how combining data on container movements and a container’s financial streams can help ward off illicit trade. Read More ». Greg Miller Tuesday, October 17, 2023. FedEx (NYSE: FDX) has cut salaries by $12,600 for each inside sales worker, according to Adi Karamcheti, a professional services consultant at Shipware LLC who spent nearly 13 years in FedEx’s inside sales operation. A sales employee who had been making the minimum base of $50,000 a year will now be making $38,000 a year, …7 min. A letter obtained by FreightWaves shows less-than-truckload carrier Yellow Corp. is seeking to defer health and welfare as well as pension contribution payments for the next two months. 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.Web

3 min. Lessons From Across the Pond and The Passenger Ground Transportation Industry. Share. Watch on. On this week’s episode of Taking the Hire Road, Jeremy Reymer, founder of DriverReach, is joined by Simon Curtis, CEO of Career Driver as well as founder and director of Curtis Gabriel, a leading digital marketing agency based …Web

The heart of the Haslam complaint — filed as an action by Pilot Corp. — is that in violation of an earlier agreement, Berkshire Hathaway, upon taking control of Pilot Travel Centers (PTC), switched its accounting to a “pushdown” method. Haslam says this is reducing the value of Pilot, which would impact what Berkshire Hathaway would pay ...

Oct 13, 2023 · Push to reshore US manufacturing motivated by global supply chain issues. Rosemary Coates, executive director of the Reshoring Institute, offers insights into supply chain issues during a keynote address Thursday at the FreightWaves F3: Future of Freight Festival. Read More ». Noi Mahoney Wednesday, November 2, 2022. The Journal reported that the bankruptcy filing would come this week. All these reports sent shares of Yellow plunging 40% in early trading Thursday. Asked about reports of an imminent bankruptcy ...WebTOP THREE TRENDS WORTH NOTING FOR Q1 2023. 1. Spot Market Rates. While we did see spot market rates increase slightly over the holiday season, we are now seeing normalization in Q1 against the high rates of last year, with spot rates continuing to decrease, and riding under contract rates. Tender rejections remain historically low, …WebHere are some of the small trucking companies that went bankrupt this year: Freon Logistics, 10 drivers. Navarro Trucking Group, 15 drivers. JCB Trucking Enterprises, 16 drivers. McClellan Trucking and …West Coast queues. According to the Friday 7 a.m. queuing list from the Marine Exchange of Southern California, 24 container ships were waiting for berths in Los Angeles/Long Beach, with a total capacity of 208,903 TEUs (average size: 8,704 TEUs). This backlog is down sharply from a high of 109 ships on Jan. 9, but it’s still the second ...Web7 min. In 2022, U.S. business logistics costs, or what is spent to keep the nation’s logistics network humming, grew by an astounding 19.6% to a record $2.3 trillion, representing 9.1% of national gross domestic product, according to the 34th annual State of Logistics Report. On a percentage basis, financial cost of inventory led the way with ...Container imports bound for the U.S. have dropped over 36% since May 24. (This index measures departing container volumes at the port of origin). This is a troubling sign for domestic U.S. freight markets that have been benefiting from an unprecedented surge of containerized import volumes over the last 18 months.

4 min. FreightWaves has unveiled its sixth annual FreightTech 100 list, spotlighting the most innovative companies in the freight technology sector. This announcement sets the stage for the FreightTech 25, which will be revealed in November at the F3: Future of Freight Festival in Chattanooga, Tennessee. The 2024 FreightTech …UP ( NYSE: UNP) expects to open in the first quarter of 2024 a new international intermodal terminal in Phoenix, which the railway says will provide a rail option for those seeking a connection between the ports in the Los Angeles Basin and the U.S. Southwest. Although the terminal, which will be owned and operated by UP, will be …UPS Inc. (NYSE: UPS) said late Thursday that it will raise 2024 tariff rates 5.9% on all air, ground and international services, effective Dec. 26.The move matches rival FedEx Corp. (NYSE: FDX), which announced a 5.9% increase late last month.Both carriers have thus reduced their tariff rate increases by 1 full percentage point from 2023’s record …WebPhoto: Jim Allen/FreightWaves. A federal judge has ordered a Mississippi trucking company and its owner, Xavier Bailey, to pay more than $482,000 after finding Bailey made false statements in order to obtain funds through the U.S. Small Business Administration’s Paycheck Protection Program (PPP).WebBorderlands is a weekly rundown of developments in the world of United States-Mexico cross-border trucking and trade. This week: The logistics boom drives an e-commerce firm’s relocation in Texas; MercuryGate acquires customs software provider International Trade Systems; New Mexico announces two logistics hubs in Santa Teresa; and a Texas city receives approval for a Foreign Trade Zone program.

Digital freight brokerage Surge Transportation filed for bankruptcy on July 24, as FreightWaves’ Hampstead first reported the following day. 2023 was a more severe downturn than expected. Surge booked $135 million in gross revenues during one period in 2023, according to its bankruptcy filing. That same period last year, Surge posted $200 ...Sep 3, 2023 · The chart is measuring the market in weeks; green is expansion, red is contraction. As capacity continues to correct, the freight rate cycle will begin to move at a faster pace (perhaps later this year; more likely late in the first quarter of 2024). Rates will move higher. Generally speaking, this helps carriers and is detrimental to shippers.

Greg Miller Wednesday, November 15, 2023 Massive impairment charge drags shipping line Zim to $2.3B loss Zim’s headline loss looks ugly, but most of the …Sep 5, 2023 · 5 min. The seemingly perpetual marketwide truck driver shortage is not real, nor is it marketwide. While specific fleets can and do have driver shortages — i.e., unseated trucks — the trucking market quickly corrects. There also are periods of capacity shortages, but those get addressed very quickly by the market. 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. For the overall 2023–2027 period, UNCTAD predicts growth at an annual average rate of 2.1%, slower than the previous 30-year average of 3.3%.Intentional growth strategies. XPO is continuing to expand its physical footprint to meet customer demand. The company has added more than 500 net new doors to its service centers nationwide since the end of 2021, with the intention of adding a total of 900 net new doors by early 2024. Additionally, it has added 2,000 new tractors and 8,000 …GlobalX Airlines defies cargo trend with fleet strategy. Global Crossing Airlines, a 2-year-old hybrid carrier that provides supplemental airlift to customers that rent the entire plane, is taking a long-term view toward cargo expansion at a time when freight demand is very soft. American Shipper. Air Cargo. Eric Kulisch Wednesday, November 15 ...Private-equity-owned trucking company had 135 drivers and 148 power units. Vermont-based LTL LandAir reportedly closed its doors on Tuesday. Photo credit: Jim Allen/FreightWaves. Employees of Williston, Vermont-based LandAir, an LTL carrier that serviced the Northeast and parts of Canada, say they were blindsided when they were …Web

FreightWaves spoke with 17 current Yellow employees — one mechanic and 16 truck drivers, who work over-the-road or locally — to learn more about the rank and file’s reaction toward this brawl. Five drivers were connected to FreightWaves through Yellow’s spokesperson, who remained on the phone with each interview.Web

FreightWaves. Estes Express confirms cyberattack. 2 min. Estes Express on Tuesday confirmed that it has been the target of a cyberattack. The Richmond, Virginia-based LTL carrier did not share details about the attack or what areas of the company have been impacted. In a statement posted Tuesday morning on X, formerly known as Twitter, …Web

The latest tweets from @FreightWaves9 min. Less-than-truckload carrier Yellow Corp. 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. Yellow ( NASDAQ: YELL) said the union doesn’t have the authority to stop a proposed change of ...Greg Miller. · Monday, October 30, 2023. Negative trends at West Coast ports are starting to reverse. (Photo: Jim Allen/FreightWaves) In the perennial tug-of-war between West Coast and East Coast ports, the momentum has shifted yet again. Imports from Asia are starting to head back to America’s Pacific gateways.WebAccording to the U.S. Department of Transportation Federal Railroad Administration, the U.S. rail freight network covers almost 140,000 route miles and is generally considered the largest, safest, and most cost-efficient freight system in the world. In addition, says the FRA, the almost $80 billion rail freight industry creates more than ...Noi Mahoney. · Monday, September 25, 2023. There were 582 cargo thefts in Canada and the U.S. during the second quarter, according to CargoNet. (Photo: Jim Allen/FreightWaves) Listen to this article. 6 min. Truckload carriers across the U.S. saw a sharp rise in cargo thefts during the second quarter — with thieves targeting everything …Stay Up to Date on the LTL Industry. Less than truckload (LTL) refers to shipping services for relatively small loads of freight (typically between 150 and 15,000 pounds). One of the main benefits of the LTL …Cross-border truckload freight rates could stabilize in 2023. After several years of volatility, freight rates in Mexico for transporting goods north to the U.S. should remain steady for most of the year, trade …WebCross-border truckload freight rates could stabilize in 2023. After several years of volatility, freight rates in Mexico for transporting goods north to the U.S. should remain steady for most of the year, trade …Web

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. FreightWaves …The Teamsters union has threatened to strike by Monday if this is not resolved and the pension contributions remain in default. The company owes $50 million, a large sum for a company in financial distress. Yellow currently has in excess of $100 million in cash reserves, according to an 8-K filed on July 7. If a strike comes to pass, this would ...The FreightWaves TRAC spot rate from Los Angeles to Dallas, arguably one of the densest freight lanes in the country, was on an unstoppable decline since January but has finally leveled out. Over the past week, the TRAC rate fell 1 cent per mile to $2, still a far cry from its year-to-date high of $2.39.4 min. Flexport announced Wednesday that it has acquired Convoy’s technology stack. FreightWaves reported on Friday that the two freight startups were in talks for Flexport, a venture-funded freight forwarder, to acquire Convoy, a freight brokerage that shut down on Oct. 19. “Flexport’s strategy will be to offer a full range of trucking ...Instagram:https://instagram. smddbest dividend reitrobinhood vs ameritradealternative energy stocks June 28: More than 60 small trucking companies are collectively owed millions of dollars after Transplus Freight System Inc. (Transplus), a Mississippi-based logistics firm, filed for bankruptcy liquidation in the U.S. Bankruptcy Court for the Northern District of Mississippi. FreightWaves’ Hawes reported the story.Jun 6, 2023 · The combination drove transportation prices to a level of 27.9, 8.9 points worse sequentially and the fastest rate of contraction ever recorded. The index’s pricing measure was more than 37 points worse y/y and 63 points lower than two years ago. Further, respondents reported weaker trends in the last two weeks of the month, returning a ... bug etf holdingshydroponics weed grow The worst trucking market prior to the current one was in 2019, the “Trucking Bloodbath.”. At one point, FreightWaves reported on 10 trucking bankruptcies in a single week. New England Motor Freight’s (NEMF’s) bankruptcy opened the year (3,000 employees) and Celadon’s shuttering (5,500 employees) ended it. There were hundreds in between. best portfolio manager In the joint prepared news release announcing the deal, the companies said U.S. Xpress will add about $2.2 billion in total revenue to Knight-Swift, with about $1.8 billion of that being in truckload. It will also add 7,200 tractors and 14,400 trailers to Knight-Swift. ... Posting loses in an freight rich environment points toward poor management of fleet …Editor’s note: This story has been updated to reflect the number of layoffs confirmed by the company. Truck brokerage giant C.H. Robinson Worldwide Inc. laid off approximately 650 employees this week, the company confirmed Thursday. Sources close to the situation originally estimated the number would be closer to 1,000, possibly up to …