Freightwaves trucking news.

The current spot rate (net fuel) is $1.95/mile. On a variable cost-adjusted basis, the trucking spot rates have matched 2019 since May 2022 – $2.16/mile and since have dropped $0.21/mile. It’s likely to get worse. The month of May typically has among the highest rates we’ll see all year, with July and August being some of the weakest months.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 …WebThe average retail price of diesel ( DTS ), the primary fuel for Class 8 trucks, has increased 16% since the end of July — the largest and fastest increase since October of last year. The rapid jump in fuel costs is masking the fact the trucking market is still deteriorating. Rising diesel prices have propped up truckload spot rates in ... A Yellow truck leaving a terminal in Houston, Texas. (Jim Allen/FreightWaves) Abdul Jaludi knows his job as a driver at Yellow Corp., one of the largest trucking fleets in the United States, is better than most trucking gigs. He’s home most nights, gets paid vacation and sick leave, and “doesn’t pay a penny” for his medical benefits.In August 2021, a Florida jury awarded a record $1 billion verdict in a case involving two trucking companies for the death of an 18-year-old named Connor Dzion. Dzion’s family was awarded $100 million for pain and suffering and $900 million in punitive damages for negligent hiring and retention against one of the trucking companies.

Dec 14, 2022 · The 2031 standards under Option 1 would lower truck emissions by 90% compared to current norms, and EPA estimates that NOx emissions from the total fleet of heavy-duty trucks on the road in 2045 would decrease by as much as 60%. Option 2 would achieve less overall NOx emissions reductions than Option 1, according to EPA. Correll told lawmakers that based on his research team’s analysis of trucker ELDs, he estimated that American long-haul, full-truckload drivers spend an average of 6.5 hours of their maximum 11-hour federally regulated working day driving their trucks. “This implies that 40% of America’s trucking capacity is left on the table every day ...

Only 11% of loads are getting rejected right now, way down from 25% at this time last year. (FreightWaves SONAR) Through the end of 2020 and throughout 2021, trucking was “white-hot,” said Amit Mehrotra, managing director of transportation and shipping research at Deutsche Bank.WebFreightTech experts weren’t completely surprised by the news, with most detailing concerns for the initially drayage-focused freight marketplace from its inception. “I first learned about NEXT Trucking when Lidia [Yan, co-founder and former CEO] was on stage during a FreightWaves event in 2019.

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’ price, demand, and capacity data allow customers to benchmark, analyze, monitor, and forecast the global physical economy. Without logistics, the supply chains that keep ...WebMay 6, 2022 · A Missouri-based trucking company, which contracted with the U.S. Postal Service to haul mail, recently ceased operations and filed Chapter 7 bankruptcy. Family-owned Rooney Trucking Inc., headquartered in Polo, filed its petition in the U.S. Bankruptcy Court for the Western District of Missouri on Monday. Attorney Ryan Blay told FreightWaves ... In the 2008 freight recession, freight brokerages were a much smaller percentage of the overall trucking market, representing just 10% of the total freight in the market. This number has doubled since then, along with the quality of freight. When I was working the freight desk at U.S. Xpress in the early 2000s, freight brokerages weren’t a ...Mar 20, 2023 · The National Truckload Index (linehaul only – NTIL) is based on an average of booked spot dry van loads from 250,000 lanes and 10,000 daily spot market transactions. The NTIL is a seven-day moving average of linehaul spot rates excluding fuel. Spot rates are currently 34% lower y/y. Mehrotra previously cut his first-quarter earnings-per-share ... Trucking payments platform AtoB announced Wednesday it has raised $155 million in a Series B round led by Elad Gil and General Catalyst.. The funding is a combination of equity to scale its services over the next year, along with debt and customer acquisition cost financing to provide working capital to small fleet businesses, the …

Judge orders Ray to forfeit more than $42 million and assets that include a 1968 Chevy Camaro. Clarissa Hawes. · Wednesday, November 29, 2023. Former trucking company owner Franklin Ray, 52, of Canton, Michigan, was sentenced to more than 17 years in federal prison for his role in a $40 million Ponzi scheme. (Photo credit: Jim …Web

Nov 30, 2023 · Michigan trucking fraudster sentenced to 17 years for $40M Ponzi scheme. Franklin Ray was sentenced to 212 months in federal prison for his role in multiple fraud schemes, including bilking investors out of $40 million in a truck investment venture. Read More ». FreightWaves Staff Wednesday, November 29, 2023.

Yellow, a 99-year-old company headquartered in Nashville, Tennessee, employs some 30,000 workers. About 22,000 of them are represented by the Teamsters union.Teamsters and Yellow have been locked in a monthslong strife over changing key work rules at the trucking fleet.After bottoming around 7.8% in early July, the intermodal savings index recovered to 9.8% in early October. During J.B. Hunt’s recent earnings call, EVP and President of Intermodal Operations Darren Field stated September had the best volume week ever as volumes improved throughout the quarter. Revenues were down 15% but volume was up 1% year ...Clarissa Hawes. · Monday, July 17, 2023. Georgia-based Big J Express filed for bankruptcy on Friday. (Photo Credit: Jim Allen/FreightWaves) Listen to this article. 4 min. 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.Rachel Premack. · Monday, August 22, 2022. Peeved as heck. In this photo, driver Dixon Smetz joins a rally at a Harrisburg, Pa. truck stop to protest high fuel prices in 2008. (AP Photo/Carolyn Kaster) Earlier this summer, the U.S. Supreme Court decided not to weigh in on two major issues that have roiled trucking for years.Truck drivers at Yellow fear the end is coming soon. (Photo: Jim Allen/FreightWaves) From the Great Recession to 2020, Yellow nearly went bankrupt four times. In each episode, the trucking giant was saved — thanks to concessions from lenders, the Teamsters union, the federal government or often all three. As a result, …WebThe Bureau of Transportation Statistics reports that freight between the U.S. and Mexico totaled $69.0B in March 2022, up 21% from March 2021. Stay up to date on key developments related to U.S.-Mexico cross-border trucking, freight, and supply chain news here, or visit our cross-border trucking archive to find additional news, information and ...Apr 11, 2023 · Cromex Inc. FreightWaves Trucking Trucking shutdown. F3: Future of Freight Festival 2023 Promo. 0:00 / 1:07. Team drivers for Cromex Inc. of Villa Park, Illinois, say they were stranded for three days in a hotel room, more than 1,000 miles from home, after the owner failed to deliver on his promise to pay drivers and set them up in a new truck.

4 min. Nikola Corp. is asking dealers and customers to return battery-electric trucks under recall for possible battery fires to its Coolidge, Arizona plant despite the company still working on a fix. “We’re bringing them back to Coolidge for repairs to be made instead of in the field,” spokesman Dan Passe told FreightWaves in an email ...Ex-Celadon executives Eric Meek and Bobby Lee Peavler had been indicted on nine counts of fraud for an alleged accounting scheme. (Photo: Jim Allen/FreightWaves) The Securities and Exchange Commission has agreed to settle an accounting fraud case against two former Celadon Group Inc. executives accused of engaging in a scheme to hide millions ...Prior to founding FreightWaves, Fuller was the founder and CEO of TransCard, a fleet payment processor that was sold to US Bank. He also is a trucking industry veteran, having founded and managed the Xpress Direct division of US Xpress Enterprises, the largest provider of on-demand trucking services in North America.Trucking industry undergoing ‘bust’ cycle in post-Covid economy, says FreightWaves’ Craig Fuller. Craig Fuller, Freightwaves founder and CEO, joins ‘The …Trucking Market Research - FreightIntel Group - FreightWaves Passport Home Category Trucking Trucking We publish coverage of Trucking Markets weekly and explore the …2 min. Yellow’s senior vice president of sales informed her staff on Wednesday that their last day would be Friday and the less-than-truckload carrier will file bankruptcy on Monday, according to three employees who attended the video call. Yellow ( NASDAQ: YELL) is the third-largest LTL company and employs some 30,000 workers, including ...

FreightWaves provides award-winning trucking news coverage. Subscribe to your leading source of news for free!

November 29, 2023 at 8:51 AM · 5 min read. Former trucking company owner Franklin Ray, 52, of Canton, Michigan, was sentenced to more than 17 years in federal prison for his …Oct 13, 2023 · Last-Mile Delivery. Final mile (also called “last mile”) is a term used to refer to the last leg of a delivery route (it is not a mode of transportation). Businesses can define last mile in different ways, depending on what is most relevant to their business and their customers’ expectations. Final mile delivery falls into two categories ... Part of the ACF rule says fleets can only purchase ZEVs starting in January 2024 and must take ICE trucks out of their fleets by the start of 2025. But the ability to replace an ICE vehicle in a high-priority fleet after Jan. 1 is convoluted. One part of the ACF says that to keep in compliance, a fleet must have “no ICE vehicles added on or ...The battle over whether to allow heavy-duty autonomous trucks on highways in California is coming to an end. It would be premature to call the outcome, but Gov. Gavin Newsom is lining up behind advanced technology over organized labor. Both are major constituent groups of the Democratic governor. Assembly Bill 316 would effectively …In August 2021, a Florida jury awarded a record $1 billion verdict in a case involving two trucking companies for the death of an 18-year-old named Connor Dzion. Dzion’s family was awarded $100 million for pain and suffering and $900 million in punitive damages for negligent hiring and retention against one of the trucking companies.CEO Martin Daum told FreightWaves last week that Waymo and Torc, which Daimler purchased in March 2019, were the best bets to lead in autonomous trucking. “We are well on our way to developing the redundant, autonomous-ready Freightliner Cascadia as a platform for various virtual driver systems,” a Daimler spokesperson told …Apr 13, 2022 · The freight cycle. The freight cycle is a market cycle that describes the boom to bust cycle of the trucking freight market. A typical freight cycle lasts for three to four years and is more cyclical than a broader economic cycle. In the early part of the cycle, the freight market is balanced. When it comes to moving, renting a U Haul truck is a great option for transporting your belongings. However, there are some important things to consider before you make the decision to rent one. Here are some tips on what to know before ren...Carriers place the economy first. Drivers listed it No. 7. Truck parking was No. 2 for drivers and No. 8 for carriers. Fuel prices were No. 3 for drivers and No. 5 for carriers, the closest to a matching priority.Motor carriers and commercial drivers agreed on just three of 10 critical issues facing the trucking industry.2 days ago · FMCSA’s own statistics red-flags the problem. Of 690,091 interstate freight carriers eligible for an FMCSA safety rating in 2021, 646,777 — roughly 94% — did not have a rating, according to the agency’s most recent annual safety data, published in December 2022. “A system that rates less than 10% of the eligible population is ...

Failure to do so puts the trucking industry — and the economy — in danger. Holmbäck was driven to create Lanefinder by the conviction that the trucking industry deserves its own jobs marketplace — a space entirely dedicated to drivers and carriers, taking their unique and nuanced needs into account. “Everybody knows the job search ...

Trucking Equipment. Throughout the pandemic, the commercial trucking industry struggled with a shortage of drivers. As the effects of the pandemic lessen and more drivers are hired, however, the industry is now facing a shortage of vehicles and other trucking equipment instead. Check back here for news and information related to trucking fleet ...

2 min. Yellow’s senior vice president of sales informed her staff on Wednesday that their last day would be Friday and the less-than-truckload carrier will file bankruptcy on Monday, according to three employees who attended the video call. Yellow ( NASDAQ: YELL) is the third-largest LTL company and employs some 30,000 workers, including ...Michigan trucking fraudster sentenced to 17 years for $40M Ponzi scheme. Franklin Ray was sentenced to 212 months in federal prison for his role in multiple fraud schemes, including bilking investors out of $40 million in a truck investment venture. Read More ». FreightWaves Staff Wednesday, November 29, 2023.4 min. Fraud rates are on the rise, increasing significantly in 2022 and continuing to climb throughout 2023. In fact, the total annual impact of stolen freight …In August 2021, a Florida jury awarded a record $1 billion verdict in a case involving two trucking companies for the death of an 18-year-old named Connor Dzion. Dzion’s family was awarded $100 million for pain and suffering and $900 million in punitive damages for negligent hiring and retention against one of the trucking companies.WebTrucking demand is softening. (Photo: Jim Allen/FreightWaves) Trucking demand is “near freight recession levels,” according to Bank of America. Shippers’ outlook on rates, capacity and inventory levels are matching attitudes not seen since May and June 2020, when pandemic lockdowns sent freight volumes into a historic decline. In a Friday ...FreightWaves released the National Trucking Index during Monday’s Day 1 of The Future Of Supply Chain event, providing a benchmark that is dedicated to measuring the direction of the domestic truckload market.The NTI is a seven-day moving average of spot rates that measures the U.S. for-hire, over-the-road dry van trucking market.WebThe impact of deregulation on the trucking industry. Before deregulation, trucking rates were fixed and approved by the Interstate Commerce Commission (ICC). President Jimmy Carter deregulated the airline industry in 1978 and then the trucking and railroad industries, both in 1980. ... FreightWaves’ news, content, market data, insights ...WebThe Canadian Trucking Alliance (CTA) is taking steps to crack down on a business model known as Driver Inc., a tax avoidance scheme that abuses workers and hurts the transportation industry, according to CTA President Stephen Laskowski. “Federal and provincial entities have said they stand with CTA in eliminating the abuse by the …4 min. Morgan Stanley trimmed estimates Thursday ahead of earnings season. The firm sees the second quarter of 2023 as the point of “peak pain” for trucking companies and likely the bottom of the cycle. “The quarter began with most companies reporting on 1Q calls that there was virtually no spring seasonal pickup and while this improved ...WebRachel Premack. · Monday, August 22, 2022. Peeved as heck. In this photo, driver Dixon Smetz joins a rally at a Harrisburg, Pa. truck stop to protest high fuel prices in 2008. (AP Photo/Carolyn Kaster) Earlier this summer, the U.S. Supreme Court decided not to weigh in on two major issues that have roiled trucking for years.

A Yellow truck leaving a terminal in Houston, Texas. (Jim Allen/FreightWaves) Abdul Jaludi knows his job as a driver at Yellow Corp., one of the largest trucking fleets in the United States, is better than most trucking gigs. He’s home most nights, gets paid vacation and sick leave, and “doesn’t pay a penny” for his medical …WebIn spite of increasing volume since the start of 2023, truckload spot rates (net of fuel) dropped from $2.02 per mile on Jan. 9 to $1.82 per mile on Jan. 25. While this is certainly above the lowest rate in the current cycle ($1.67 per mile on Nov. 17, 2022), the downward trend isn’t instilling hope for truckload carriers that the market has ...Sep 6 Sep 06, 2023 FreightWaves CEO Craig Fuller calls the truck driver shortage a “myth” in a recent piece of self-promotion, but his assertion collapses under the weight of …Instagram:https://instagram. f dividend historywhat is a 1964 silver half dollar worthpsgonatera blood test Failure to do so puts the trucking industry — and the economy — in danger. Holmbäck was driven to create Lanefinder by the conviction that the trucking industry deserves its own jobs marketplace — a space entirely dedicated to drivers and carriers, taking their unique and nuanced needs into account. “Everybody knows the job search ...Web hawkishnesshow to buy stocks on etrade for beginners Brokers and 3PLs began with a lower sentiment of 9.84 in Q4 2022, which dipped further in Q1 2023 to 6.97. Their sentiment saw a fluctuation, climbing to 9.39 in Q2 2023 and peaking at 12.55 in Q3 2023, indicating a resurgence of confidence, before descending again to 8.78 in Q4 2023. quarters worth alot of money Clarissa Hawes. · Monday, July 17, 2023. Georgia-based Big J Express filed for bankruptcy on Friday. (Photo Credit: Jim Allen/FreightWaves) Listen to this article. 4 min. 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.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 …Web