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Trucking Regulation. Trucking regulations are determined by several government agencies in the United States. The Federal Motor Carrier Safety Administration (FMCSA) is the lead agency responsible for trucking laws, regulating and providing safety oversight of commercial motor vehicles (including over 500,000 commercial trucking companies.Today, the same lane goes for $1,402/TEU. In May 2022, container imports handled at the U.S. port peaked at 2.6 million TEUs, the most recent month of imports data before FreightWaves’ article was published. Descartes reported that container import volumes in November were 1.95 million TEUs, a drop of 25%.5 min. C.H. Robinson, one of the world’s largest 3PLs, is delaying the launch of a controversial program known internally as Project Infinity as the company’s IT department works out various bugs discovered during testing of new updates to its Navisphere platform for trucking companies, sources say.FreightWaves Infographics Infographics News Daily Infographic: US gasoline prices decline amid lower gasoline demand and falling crude oil prices Brandon Cafferky

Then the news broke that one of the most iconic freight brokers to come out of the venture era of freight tech funding would fail on the same morning. Convoy was a victim of a violent commoditized industry that is facing one of its deepest recessions in decades and a sudden change in investor appetite from risk to unit economics.

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.FreightWaves. 71,550 likes · 1,550 talking about this · 65 were here. FreightWaves is the most trusted provider of global supply chain market intelligence.

6 min. FreightWaves unveiled the winners of its 2024 FreightTech 25 awards on the final day of the F3: Future of Freight Festival. This sixth iteration of the award series was full of surprises. The 2024 list honors industry veterans and newcomers that have found a way to hang on in one of the most difficult environments for technology ...Nov 16, 2023 · Less than Truckload (LTL) 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 industry is cost efficiency. LTL trucking allows shippers to combine several loads going to the same facility ... 4 min. Forward Air reported third-quarter adjusted earnings per share of 99 cents Monday after the market closed. The result was 12 cents light of consensus and 94 cents lower year over year (y/y). Forward ( NASDAQ: FWRD) pinned the miss on soft demand for its noncore intermodal and truckload brokerage services.3 min. A Montana trucking company and freight brokerage has apparently shuttered operations, leaving nearly 275 truck drivers and office personnel without jobs, sources say. Meadow Lark Transport Inc., of Billings, Montana, had 273 drivers and 337 power units at the time of its closure, according to the Federal Motor Carrier Safety ...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.

The company’s (NYSE: FDX) first fiscal quarter results, released late Wednesday, demonstrated the benefits of the cost cuts. FedEx’s adjusted diluted earnings per share of $4.55 came in well ahead of consensus of $3.73 -$3.77 a share. Operating income, net income and operating margins rose well above levels of the prior fiscal year’s ...Web

According 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 ...

Atlas Air Worldwide on Tuesday announced the order of two 777 freighters from Boeing in response to strong demand for international e-commerce shipping, one of the few areas of strength in a freight market that has bottomed out after 18 months of decline and led airlines to reel in expansion plans. The two new 777 cargo jets, which were booked ...Demand keeps capacity tight – FreightWaves NOW. On today’s FreightWaves Now, Zach Strickland examines demand keeping capacity tight in the …Many carriers are already taking as much as they can, as Yellow’s freight bills per day have fallen by more than 30% in recent weeks, according to a source close to the carrier. When Celadon shut down in December 2019, the truckload industry readily absorbed the volume, but truckload networks are inherently more flexible than less-than …Cargo revenue at public passenger airlines and logistics companies, which serves as a proxy for financial conditions at Amerijet, was down 30% to 50% through the third quarter versus the nine-month period a year ago. Many cargo airlines have hit the brakes on adding new or converted freighters and reduced flight activity to manage costs.FreightWaves’ news, content, market data, insights, analytics, innovative engagement and risk management tools are unprecedented and unmatched in the industry. Prior to founding FreightWaves, Fuller was the founder and CEO of TransCard, a fleet payment processor that was sold to US Bank.Web5 min. Transportation prices fell in February at the fastest rate recorded in the six-and-a-half-year history of a monthly survey of supply chain executives. The Logistics Managers’ Index (LMI) registered a reading of 36.1 for transportation costs in February, 5.9 percentage points lower than in January and below the prior record, which was ...

Pennsylvania brokerage lays off nearly 65 employees, sources say. Approximately 65 employees for Pittsburgh-based Elite Transit Solutions were laid off via Microsoft Teams on Friday. This is the second round of job cuts the freight brokerage has experienced over the past month; about 20 employees were let go on Oct. 20 because of the “current ...Nov 16, 2023 · The global shipping industry is constantly evolving, and the COVID-19 pandemic began a marked shift in how container shipping operates. Disruption caused by the pandemic has forced the industry to expand its capacity and reduce costs to remain profitable. At the peak of the pandemic, containers essentially stopped moving. Central Freight Lines is the largest trucking company to close since Celadon ceased operations in 2019. Waco, Texas-based Central Freight Lines has notified drivers, employees and customers that the less-than-truckload carrier plans to wind down operations on Monday after 96 years, the company’s president told FreightWaves on Saturday.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 ...3 hours ago · Cargo revenue at public passenger airlines and logistics companies, which serves as a proxy for financial conditions at Amerijet, was down 30% to 50% through the third quarter versus the nine-month period a year ago. Many cargo airlines have hit the brakes on adding new or converted freighters and reduced flight activity to manage costs. Aug 2, 2023 · Investors are still awaiting news of Yellow's fate. (Photo: Jim Allen/FreightWaves) A class-action suit filed Tuesday against Yellow Corp. said the company failed to provide a required 60 days’ layoff notice to its 30,000 employees. The complaint was filed on behalf of California dockworker and union steward Armando Rivera and other ...

Of the 135 total markets, 75 reported weekly increases as freight demand stirs across the country. Volumes are up in the majority of Texas’ markets. Freight demand in Dallas, the third-largest market in the nation by outbound volume, is up by 4.6% w/w. Freight volumes in McAllen, an important cross-border market with Mexico, are up 28% w/w.

Nov 14, 2023 · Parcel delivery is a cost-effective, efficient, and fast option for businesses shipping items up to 150 pounds. And, unlike freight shipping, packages are delivered directly to a residential or business address. Check back here for the latest parcel freight industry news. Mark Solomon Wednesday, November 15, 2023. Nov 30, 2023 · 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 ... The company’s annual GRI is effective on the first Monday of February. Forward’s fourth-quarter guidance was also worse than expected. The company forecast revenue to decline 7% to 17% y/y, implying $423 million at the midpoint of the range. That was below the consensus estimate of $468 million at the time of the print.Nov 29, 2023 · This week in Borderlands: Eternity Group Mexico unveils a tool for shippers to monitor their carbon footprints; Finkargo closes a $20 million Series A funding round; cargo-partner launches a cross-border shipping solution; and SKU Distribution receives foreign trade zone status for its Arizona warehouse. 4 min. Amazon’s private airline that outsources cargo flying to third parties has ended its partnership with Silver Airways, a small regional carrier that operated five small ATR72-500 turboprop planes on small feeder routes, FreightWaves has confirmed. Silver Airways, a privately held regional airline based in Fort Lauderdale, Florida, that ...The freight brokerage industry began humming Meat Loaf’s 1977 power ballad “Two Out of Three Ain’t Bad” Tuesday when the U.S. Court of Appeals for the 7th Circuit became the third federal appellate court to consider the extent to which negligence claims against freight brokers are preempted by federal law.FedEx Freight said in late August that its 2024 GRI would average between 5.9% and 6.9%, 100 bps lower on both ends of the range than the 2023 increase.The new increase takes effect Jan. 1. Since the exit of Yellow, most carriers have seen an influx of freight into their networks, which has pushed analysts to raise estimates heading into …Nov 27, 2023 · 6 min. Following three attacks on vessels linked to Israel, a container ship operated by Israeli ocean carrier Zim has changed course and is taking the long way around Africa rather than transiting the Suez Canal and passing through the Bab el-Mandeb Strait off Yemen. Ship position data from MarineTraffic shows that the Zim Europe, en route ...

Nov 29, 2023 · This week in Borderlands: Eternity Group Mexico unveils a tool for shippers to monitor their carbon footprints; Finkargo closes a $20 million Series A funding round; cargo-partner launches a cross-border shipping solution; and SKU Distribution receives foreign trade zone status for its Arizona warehouse.

The freight market is suffering from very challenging conditions and few dispute that the freight market is in recession. The root cause of the current freight recession has been the imbalance of supply and demand. According to SONAR’s Outbound Tender Volume Index, or OTVI, freight volumes are currently up 16% over 2019 levels.

Central Freight Lines is the largest trucking company to close since Celadon ceased operations in 2019. Waco, Texas-based Central Freight Lines has notified drivers, employees and customers that the less-than-truckload carrier plans to wind down operations on Monday after 96 years, the company’s president told FreightWaves on Saturday.WebDec 3, 2023 · FreightWaves National Truckload Index (NTI) is a seven-day moving average of spot rates that measures the U.S. for-hire, over-the-road dry van trucking market: Representing 8.7 million loads. Published 365 days of the year. Over 1,200 days of historical data. Views aggregated weekly or moving 7 day averages. The FreightWaves Trusted Rate Assessment Consortium (TRAC) spot rate from Los Angeles to Dallas, arguably one of the densest freight lanes in the country, has seen a slowdown in its prior momentum. Over the past week, the TRAC rate fell 1 cent per mile to $2.08 — still some distance from its year-to-date high of $2.39.American Train Dispatchers Association becomes 4th union to approve deal. ATDA union members have ratified a new labor agreement by a 64% vote. (Photo: Jim Allen/FreightWaves) Members of the American Train Dispatchers Association (ATDA) have ratified the labor contract with the freight railroads, joining three other unions that have …Truckload spot rates are falling – fast. Trucking spot rates are under massive pressure, caused by too many trucks and not enough freight. Truckstop.com’s truckload spot rates peaked at $3.83 per mile in January and are now down to $3.42 per mile. Spot rates will fall further and could hit $2.50 per mile by mid-year.See all of FreightWaves’s headline news. Compare how the top news stories are covered by left-wing and right-wing news sources. We’ve discovered 2,780 headlines written by FreightWaves during the past 3 months. Ground News rates FreightWaves’s media bias as unknown.6 min. FreightWaves unveiled the winners of its 2024 FreightTech 25 awards on the final day of the F3: Future of Freight Festival. This sixth iteration of the award series was full of surprises. The 2024 list honors industry veterans and newcomers that have found a way to hang on in one of the most difficult environments for technology ...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, 2023.4 min. Forward Air reported third-quarter adjusted earnings per share of 99 cents Monday after the market closed. The result was 12 cents light of consensus and 94 cents lower year over year (y/y). Forward ( NASDAQ: FWRD) pinned the miss on soft demand for its noncore intermodal and truckload brokerage services.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 ...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. 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%.

FreightWaves is a platform that provides breaking news, data, and analysis on the supply chain, logistics, and trucking industries. You can watch SONAR, a high-frequency data tool that tracks the performance of various supply chain indexes, and get access to market updates, earnings reports, and more.The company’s annual GRI is effective on the first Monday of February. Forward’s fourth-quarter guidance was also worse than expected. The company forecast revenue to decline 7% to 17% y/y, implying $423 million at the midpoint of the range. That was below the consensus estimate of $468 million at the time of the print.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 ...Dec 4, 2023 · On a day-to-day basis, friction is characterized by manual processes, inefficient workflows and high volumes of human effort. As supply chain leaders look to optimize operations and plan for the future in a down market, this friction stands in the way of transforming their supply chains from cost centers to revenue generators. Instagram:https://instagram. boring company stockfisher investments minimum portfoliodividend etfs bestfdrrx Nov 29, 2023 · This week in Borderlands: Eternity Group Mexico unveils a tool for shippers to monitor their carbon footprints; Finkargo closes a $20 million Series A funding round; cargo-partner launches a cross-border shipping solution; and SKU Distribution receives foreign trade zone status for its Arizona warehouse. 5 min. Transportation prices fell in February at the fastest rate recorded in the six-and-a-half-year history of a monthly survey of supply chain executives. The Logistics Managers’ Index (LMI) registered a reading of 36.1 for transportation costs in February, 5.9 percentage points lower than in January and below the prior record, which was ... buy oilitot expense ratio FreightWaves National Truckload Index (NTI) is a seven-day moving average of spot rates that measures the U.S. for-hire, over-the-road dry van trucking market: Representing 8.7 million loads. Published 365 days of the year. Over 1,200 days of historical data. Views aggregated weekly or moving 7 day averages. syta stocks Nov 16, 2023 · The global shipping industry is constantly evolving, and the COVID-19 pandemic began a marked shift in how container shipping operates. Disruption caused by the pandemic has forced the industry to expand its capacity and reduce costs to remain profitable. At the peak of the pandemic, containers essentially stopped moving. 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 Q3 2023 Freight Sentiment Indexes show the freight market in this flux. For the first time since we began tracking in Q4 2022, shippers are the least positive group (though their overall score is still above 0), and this shift in sentiment could be a first indication of a market change. Shippers have enjoyed pricing power this year due to ...