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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.Aug 31, 2022 · SONAR’s van contract rate index, which is derived as the national average contract rate from over $40 billion of actual contracted loads between shippers and carriers, is currently at $2.74/mile, down from a high of $2.98/mile set on June 3, 2022. The drop of $0.24/mile represents a 9% drop in two months — and reverses all of the contracted ... 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 …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.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.

U.S. parcel shipping activity is expected to grow 5% per year over the next five years, continuing what is expected to be an increase over pre-pandemic volume projections despite a slowdown in 2022, according to an annual parcel shipping index published Tuesday by global shipping and mailing company Pitney Bowes Inc.. By 2028, …WebCombining 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.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 …

Dayton Freight Company is a leading logistics provider that has been in business for over 30 years. They specialize in providing transportation and logistics services to businesses of all sizes, from small businesses to Fortune 500 companie...May 11, 2023 · Truckload carrier’s operating loss deepened in Q1 to nearly $30M. John Kingston. · Thursday, May 11, 2023. U.S. Xpress has laid off about 125 workers. (Photo: Jim Allen/FreightWaves) Listen to this article. 6 min. U.S. Xpress, on the verge of being acquired by Knight-Swift, recently laid off about 150 employees as its earnings report filed ...

Oct 18, 2023 · 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. In April 2022, Convoy was valued at $3.8 billion after an investment of $260 million in a Series ... 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. USA, TRISG.USA. The National Retail Federation says inventories are in balance with no apparent stockouts or overstocks as highlighted in Mark Solomon’s article. The SONAR chart above shows the seasonally adjusted retail inventory-to-sales ratio at 1.36 at the end of September (updated Nov. 15), up 2.3% y/y, which is roughly in line …A bankruptcy filing could be announced Monday. (Photo: Jim Allen/FreightWaves) Less-than-truckload carrier Yellow Corp. ceased all operations at 12 p.m. Sunday, according to a notice on the gates at its terminals. Separate internal documents showed the procedures for closing the facilities as well as “talking points” to be used when ...

Nov 16, 2022 · Get the Latest Freight Market News & Trends. Stay informed with timely updates on freight trends that could impact your business. 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 ...

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 ...

1 day ago · Borderlands 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 ... Sep 26, 2022 · 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. 3.5M Unique Visitors Per Month 258K+ Social Followers 14 AWARDS FOR EXCELLENCE IN B2B JOURNALISM 2020 FINALIST, BEST WHITE PAPER INSIGHTS FROM …Dayton Freight Company is a leading logistics provider that has been in business for over 30 years. They specialize in providing transportation and logistics services to businesses of all sizes, from small businesses to Fortune 500 companie...The Montreal-based company’s adjusted net income of $138.9 million, or $1.46 per diluted share, increased 60% compared to a year ago and beat analysts’ estimates by seven cents, according to Seeking Alpha. Revenue came in at just under $2.1 billion, in line with estimates. TFI’s (NYSE:TFII) U.S. LTL operation, rebranded as TForce …WebFreightWaves. 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, …WebFreightWaves News 4+ Read, Watch and Listen FreightWaves, Inc. Designed for iPad 4.1 • 11 Ratings Free Screenshots iPad iPhone FreightWaves enables companies involved in …

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 ...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.The Montreal-based company’s adjusted net income of $138.9 million, or $1.46 per diluted share, increased 60% compared to a year ago and beat analysts’ estimates by seven cents, according to Seeking Alpha. Revenue came in at just under $2.1 billion, in line with estimates. TFI’s (NYSE:TFII) U.S. LTL operation, rebranded as TForce …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 ...Here you’ll find stories about supply chain professionals who are modernizing their operations, the technologies enabling the change, and best practices you can apply …Jun 22, 2023 · 6 min. FedEx plans to remove 29 aircraft from its fleet this year through permanent retirement and temporary storage, fulfilling its new program to eliminate permanent costs and make its logistics network more flexible as global trade slows. CEO Raj Subramaniam said on Tuesday’s earnings briefing that the Express unit will park 20 aircraft in ... Subscribe to our Classic Newsletters Newsletters that never seem to go out of style. Freightwaves Tech Newsletter (Tuesday | Weekly) Stay up to speed on the latest technology and trends impacting the freight industry with this weekly newsletter. Air Cargo Newsletter (Monday | Weekly) Get news, analysis and exclusive insights about the movement ...

Nov 15, 2023 · Truckload Freight. Truckload shipping refers to the movement of freight in the amounts necessary to fill an entire semi-truck or intermodal container. This is in contrast to less than truckload (LTL) shipping, where freight from multiple sources is mixed and transported in one truck or shipping container. Trucking industry regulations change ... FreightWaves SONAR Outbound Tender Volume Index (OTVI) is a measurement of electronic offers from shippers to truckload carriers for the transport of goods. OTVI is an indicator of raw demand for trucking capacity. Truckload freight volume is a barometer for business activity around physical goods required by businesses and consumers.

Jul 10, 2023 · As part of the waiver agreement, the lenders will require Yellow (NASDAQ: YELL) to provide its lenders with regular reports on the state of its finances. Beginning Wednesday, Yellow will be required to provide the lenders with a weekly “liquidity report.”. In that report will be the total amount of liquidity at Yellow, including ... The biggest food brands have cooled it on price inflation.That’s good news for consumers — and trucking companies. Two freight brokers told FreightWaves that truckers have had to reorganize their routes to grocers in the past year due to reduced volumes, though they haven’t experienced the fallout of business that other firms have …Oct 18, 2023 · 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. In April 2022, Convoy was valued at $3.8 billion after an investment of $260 million in a Series ... Nov 13, 2023 · 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. Craig Fuller is CEO and Founder of FreightWaves, the only freight-focused organization that delivers a complete and comprehensive view of the freight and logistics market. FreightWaves’ news, content, market data, insights, analytics, innovative engagement and risk management tools are unprecedented and unmatched in the industry.Stay up to date on the latest news from FreightWaves, your award-winning source for transportation news. Read stories about XPO's earnings, Hawaiian Airlines' Amazon Air contract, Cummins' natural gas engines, intermodal's gains and losses, and more.Get a near real-time, 360-degree view of your fleet’s daily operations, so you can help reduce costs, increase productivity, stay on top of vehicle maintenance, and make the most of every business day.

6 min. FedEx plans to remove 29 aircraft from its fleet this year through permanent retirement and temporary storage, fulfilling its new program to eliminate permanent costs and make its logistics network more flexible as global trade slows. CEO Raj Subramaniam said on Tuesday’s earnings briefing that the Express unit will park 20 aircraft in ...

FedEx operates 125 Boeing 767 medium widebody freighters like this one. (Photo: Jim Allen/FreightWaves) FedEx will reduce flight hours by more than 10% and park more aircraft this quarter because of continued low demand for parcel and freight shipping, executives said Thursday. An 8% cut in aircraft utilization, sidelining nine cargo jets and ...Web

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 experts said. Before the pandemic, carriers usually charged about $1,000 and up for northbound freight from central Mexico to Laredo ...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.Brielle is the deputy editor of Freight Waves and has a seven-year history in B2B publishing, tackling cutting edge stories in business, with more than two years specifically focused on the supply chain. She’s interviewed numerous CEOs and is adept at finding stories that matter to the industry. She believes in finding a new way forward in ...by Tony Mulvey. Wednesday, February 24, 2021. 0. In last week’s Passport intermodal weekly, we discussed the very visible impact that the snowstorm in the central states …For all intents and purposes, the month of December has only three weeks of freight activity, as the final week from Christmas to New Year’s is effectively null. In years prior, freight demand has fallen throughout the month before bottoming out in that final week. So far, December looks to be following seasonal trends, which is to say that, while shippers’ activity is winding down, this ...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.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 …The global supply chain has seen more than its fair share of chaos for well over a year now. From global economic lockdowns and cancellations to historic port congestion as 100% …Minnesota-based Commodity Services Inc. specializes in ag products like potash and sand. Ex-officer manager Vickie Greiner and her son, Brandon Greiner, both of Fairmont, Minnesota, have been charged with stealing over $600,000 from the freight brokerage where they both worked. (Photos: Bill Oxford/Unsplash and Jim …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.

9 min. Millions of FedEx Corp. stakeholders are still digesting the Thursday night’s 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. The question is whether the news signals a larger ...Web3 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 ...7 min. Maersk, the world’s second-largest ocean carrier, revealed Friday that it is “intensifying” job cuts in light of the “worsening market conditions” in ocean shipping. “Given the challenging times ahead, we accelerated several cost and cash containment measures,” said Vincent Clerc, CEO of A.P. Moller-Maersk (Copenhagen ...Instagram:https://instagram. nasdaq forecastaptvlist of mobile banking apps in usapublicly traded lithium battery recycling companies 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. bkd nysewhat is the most rare quarter 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 ... pet insurance with no waiting period for illness Xeneta tracks both contract rates and spot rates. Its short-term index put North Europe-U.S. East Coast rates at $6,086 per FEU as of Wednesday. Long-term rates for this trade were under $6,000 per FEU as of mid-January. Spot rates have fallen below contract rates in almost all of the world’s container trades — but not yet in the trans ...WebMeadow Lark Agency and its affiliate, Meadow Lark Transport, filed for bankruptcy liquidation Monday, owing around 120 former employees almost $800,000 and nearly 1,300 trucking companies about $2.7 million. Read More ». Eric Kulisch Monday, November 6, 2023.