Freightwaves trucking news.

A bobtail truck is a semi truck that travels from one point to another without a trailer. Sometimes a trucker has to drop off an entire trailer at his destination and travel elsewhere to pick up another trailer. Truckers are often paid roun...Citizens Bank of Sac City, Iowa, has failed, and it appears that its exposure to commercial trucking is the cause. Citizens Bank was a small state-chartered bank. Its loan portfolio was focused on “commercial and industrial loans,” according to Bank Reg Blog. The blog reported on Nov. 3 that the Federal Deposit Insurance Corporation (FDIC ...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 is the most trusted provider of global supply chain market intelligence. Our high-frequency price, demand, and capacity data and analysis allow our customers to benchmark, analyze, monitor and forecast the global physical economy.Intermodal volume begins to dig out while network challenges remain. In last week’s Passport intermodal weekly, we discussed the very visible impact that the snowstorm in …

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.WebPlus. Another private player, Plus focuses most of its U.S. efforts on autonomous features that fall short of a full Level 4 system. But the high-autonomy system runs in the background of PlusDrive-enabled trucks. Plus had a big presence in China, including a joint venture with the state-owned First Auto Works.

Uber Freight works with Aurora Innovation and Volvo Autonomous Solutions. 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. Before Waymo Via put its autonomous trucking business into hibernation, Uber Freight had big plans with them, too.Louie, the California truck driver, said that from 2008 to today, his terminal (previously Roadway) has seen eight terminal managers. It was the same person from 1999 to 2008. An Oregon-based truck driver connected to FreightWaves through Yellow PR said around 60 drivers worked at his terminal as of 2019. Now, it’s around 30.

Truckload spot rates tank fast thanks to fuel costs. The truckload spot market has fallen apart over the past two months. Larger fleets are in far better shape for weathering the storm. Read More ». Zach Strickland, FW Market Expert & Market Analyst Saturday, May 14, 2022.7 min. On July 7, Yellow ( NASDAQ: YELL) narrowly avoided bankruptcy for the fifth time since 2009. The potential for collapse is still looming, though. That’s scaring some customers off, according to three brokers and two industry experts interviewed by FreightWaves. Recent notes from investment banks like Bank of America and Stifel have ...WebWhy I believe a freight recession is imminent. Craig Fuller, CEO at FreightWaves. · Thursday, March 31, 2022. Listen to this article. 11 min. Last week, I published an article entitled “ Just 3 years after 2019’s …Judge orders Ray to forfeit more than $42 million and assets that include a 1968 Chevy Camaro. Clarissa Hawes. · Wednesday, November 29, 2023. Former …

Todd Maiden. · Wednesday, May 24, 2023. The Teamsters are currently negotiating several collective bargaining agreements that expire this summer. (Photo: Jim Allen/FreightWaves) The Teamsters union said Wednesday that a strike authorization had been approved by members covered under ABF Freight’s national master freight …

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 ...

That’s not the carrier taking advantage. That’s the market dictating what the cost should be over time.”. The key is preparing leadership for the trends that inevitably drive transport pricing, Banfield told Craig Fuller, FreightWaves founder and CEO. “For the past 12 years, there has been a 2.8% to 3.2% increase in truckload costs.Commercial truck insurance is important because there are many truck accidents every year. It is not only mandatory for truckers to have insurance, it’s mandatory for them to maintain it as well.If you’re interested in becoming a truck dispatcher but don’t have the resources to attend a traditional classroom setting, an online course may be the perfect option for you. Before we dive into the online course options, it’s important to...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.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 ... FreightWaves supply chain news coverage is your leading source of global supply chain updates and information via freight data. Subscribe now for free ... Lowe’s has been changing the way it deploys trucks to deliver goods and has garnered a spot on FreightWaves’ annual list honoring shippers. Read More » Eric Kulisch ...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.

STG Logistics’ acquisition of Best Dedicated Solutions will add expedited, dry van, temperature-controlled and flatbed OTR transportation to STG’s existing services. ... Read the latest logistics news and insights from FreightWaves covering multi-modal transportation. Award winning news coverage at your fingertips.Used truck prices reversed year-over-year gains in November for the first time since 2020, suggesting a normalized environment is returning after a year of unprecedented high prices. “Following the once-in-a-lifetime pricing boom in 2021, the used-truck market in 2022 started coming back down to Earth as the freight environment …In under a year he helped build FreightCasts, the world’s largest logistics and supply chain podcast network in media. WTT is ranked in Apple Podcasts top-20 Business News podcasts. He also writes a newsletter of the same title with over 15k subscribers in the supply chain and trucking niche. Dooner has been in freight since 2005 and has held ...FreightWaves. Trucking bloodbath snares fleets large and small. 9 min. America’s $875 billion trucking industry is struggling. The number of authorized interstate trucking fleets in the U.S. declined by nearly 9,000 in the first quarter of 2023, according to federal data analyzed by Motive, a fleet management technology company.For example, trucker issues contributed to the driver shortage, as qualified drivers leave the industry because of low pay and difficult working conditions. Other truck driver challenges include issues related to health and wellness. Truckers must deal with a lack of exercise, poor diet, extended periods without bathroom breaks, eye strain ...Web

Clarissa has covered all aspects of the trucking industry for 14 years. She is an award-winning journalist known for her investigative and business reporting. Before joining FreightWaves, she wrote for Land Line Magazine and Trucks.com. If you have a news tip or story idea, send her an email to [email protected].

Jul 21, 2023 · 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, some of Yellow’s ... 8 min. California has filed its legal arguments opposing the request for a preliminary injunction that would block imposition of independent contractor law AB5 in the state’s trucking sector and was able to cite developments in the sector since the law went into effect last year. Both the California Trucking Association (CTA) and the Owner ...WebWhy I believe a freight recession is imminent. Craig Fuller, CEO at FreightWaves. · Thursday, March 31, 2022. Listen to this article. 11 min. Last week, I published an article entitled “ Just 3 years after 2019’s …Trucking and logistics companies are seeing a massive downturn. FreightWaves has reported on the biggest shutdowns and layoffs since 2022.Consulting firm FTR Transportation Intelligence expects rail intermodal to face a tough year in 2023 amid weaker demand, a competitive truck market and a shift in U.S. port activity away from the West Coast to East and Gulf ports that utilize shorter inland hauls. All of the rail intermodal segments — domestic and international — “are ...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. Todd Maiden. · Wednesday, May 24, 2023. The Teamsters are currently negotiating several collective bargaining agreements that expire this summer. (Photo: Jim Allen/FreightWaves) The Teamsters union said Wednesday that a strike authorization had been approved by members covered under ABF Freight’s national master freight …According to a recent Trucking Alliance survey, 98% of the 62,000 trucks operated by the group’s member carriers use speed limiter technology, they told lawmakers, with maximum speed settings ranging from 61 mph to 70 mph. In addition to safety benefits, members of the coalition point to economic advantages of installing speed limiters on fleets.Clarissa has covered all aspects of the trucking industry for 14 years. She is an award-winning journalist known for her investigative and business reporting. Before joining FreightWaves, she wrote for Land Line Magazine and Trucks.com. If you have a news tip or story idea, send her an email to [email protected].

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 …

The 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 ...

Nov 16, 2023 · 5 min. Truckload carriers and 3PLs have seen little change in demand halfway through the fourth quarter, and some are pointing deeper into 2024 before the market corrects. The comments came from heads of some of the largest publicly traded TL providers at Stephens 25th Annual Investment Conference in Nashville, Tennessee, on Tuesday. Aug 27, 2023 · (Photo: Jim Allen/FreightWaves) Borderlands is a weekly rundown of developments in the world of United States-Mexico cross-border trucking and trade. This week: Mexico’s truckers plan nationwide strike, blockades; $142B announced for Texas transportation infrastructure; Fresh Del Monte Produce moving to Port Freeport; and border airport adds ... The CEO and founder of Stack AV is taking a shot at Class 8 autonomous trucking with the backing of Japan’s SoftBank Group Corp. Salesky is holding back on a lot of details of his new company, founded earlier this year with longtime collaborators Peter Rander and Brett Browning. The three oversaw Argo AI, a Level 4 autonomous vehicle …Web0:00 / 1:07. Former truck drivers and employees of Falcon Transport of Youngtown, Ohio, admit there were warning signs that the company was experiencing financial problems, but few said they expected the company to cease operations abruptly on Saturday, April 27, stranding truckers hauling loads without working fuel cards or further …They were arraigned Friday. The trio are accused of fraudulently obtaining immigration permits to hire undocumented migrants to work for their firm, Gonmor Inc., a Laredo-based commercial trucking company. Gonmor Inc., founded in 2015, operates 27 trucks and employs 38 drivers, according to the Federal Motor Carrier Safety …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 …Family-owned Art Mulder & Sons ceased operations in November. An online auction is slated for Tuesday to sell the assets of family-owned Art Mulder & Sons Trucking (AMST) of Holland, Michigan. The move comes two months after the refrigerated less-than-truckload (LTL) carrier ceased operations in late November after more than 50 years. Two reports released Tuesday convey just how bad things got in the trucking industry this fall. FTR Transportation Intelligence said trucking conditions hit an 18-month low in October 2022. High diesel costs and sinking rates pushed the firm’s Trucking Conditions Index to its lowest point since April 2020, when it hit a record bottom.7 min. Cummins Inc. predicts its new 15-liter natural gas engine designed for heavy-duty and on-highway applications could lead to a five-fold growth in customers for the alternative powertrain. It overcomes complaints about low power and torque and can run on potentially net-zero carbon renewable natural gas (RNG).WebNov 19, 2023 · The 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 ... 7 min. Cummins Inc. predicts its new 15-liter natural gas engine designed for heavy-duty and on-highway applications could lead to a five-fold growth in customers for the alternative powertrain. It overcomes complaints about low power and torque and can run on potentially net-zero carbon renewable natural gas (RNG).Web

Sep 25, 2023 · 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 from ... Trucking companies rejected unusually high amounts of freight in 2021. Around 27% of all contract freight was getting rejected last spring. Even in late December 2021 and early January 2022, the rejection rate was more than 20%. The spike in spot rates meant more capacity on the small trucker side.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.Instagram:https://instagram. fx trading signalsgood sectors to invest inbest place to sell my iphoneindependent vanguard advisor Truckload spot rates, according to the FreightWaves National Truckload Index, hit a low of $1.67 on Nov. 17, 2022, and have since bounced back to $1.98 per mile. FreightWaves SONAR: National Truckload Index. To learn more about SONAR, click here. Trucking tender volumes also suggest that the direst of predictions have not played out. saudi executionschina economy collapse This fireside chat recap is from FreightWaves’ Net-Zero Carbon Summit on Thursday. FIRESIDE CHAT TOPIC: Revolutionizing procurement to decarbonize trucking. DETAILS: Rik Arends, director of the Sustainable Freight Buyers Alliance (SFBA) at Smart Freight Centre, explains the importance of collaborative efforts between customers and …Web smh stock forecast This week in Borderlands: A stronger Mexican peso could pose challenges for U.S.-Mexico trucking; Tesla seeks $100 million to build Semi truck charging stations; …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.She’s especially interested in trucking news. Before joining FreightWaves in 2022, Rachel was a senior features reporter at Business Insider. She created the trucking news beat at Business Insider, and has appeared on NPR Marketplace, ABC News, NBC Nightly News, The Today Show, France24, and other major outlets to discuss her coverage.