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Flock Freight confirmed to FreightWaves that in all, it had “parted ways” with 45 employees — or about 8% of its workforce — on April 10. “It felt like a gut punch because we weren’t given any reason why we were being let go,” said one former employee. “A lot of us are angry, but I think the majority of us are just really sad.”.Web
Old Dominion trumps Estes' offer for Yellow's terminals. (Photo: Jim Allen/FreightWaves) Less-than-truckload carrier Old Dominion Freight Line entered a $1.5 billion bid for Yellow Corp.’s terminals, according to a Friday filing in a Delaware bankruptcy court. The new offer exceeds the $1.3 billion bid from LTL peer Estes Express Lines, …WebMany 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 …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 ...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 …
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.
Old Dominion trumps Estes' offer for Yellow's terminals. (Photo: Jim Allen/FreightWaves) Less-than-truckload carrier Old Dominion Freight Line entered a $1.5 billion bid for Yellow Corp.’s terminals, according to a Friday filing in a Delaware bankruptcy court. The new offer exceeds the $1.3 billion bid from LTL peer Estes Express Lines, …Web
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 ...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 …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.4 min. CHATTANOOGA, Tenn. — From his position as CFO and chief revenue officer of one of the largest truck-specific insurance companies, Thom Albrecht can see trucking capacity bleeding out of the market. In one of the final fireside chats at FreightWaves’ F3: Future of Freight Festival in Chattanooga, Tennessee, on Thursday, …
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 ...
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.
Freight could go 100 miles in the wrong direction, then back to where it would have gone. A Yellow truck driver based in Tacoma, Washington, said that following Reddaway’s integration with Yellow, it’s become more common for freight to be incorrectly shipped to Alaska, then return to the Lower 48, then back to Alaska.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 ... 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 ...The smooth debut of Hawaiian Airlines’ first freighter aircraft this month and the cash it, and sister aircraft, will generate from Amazon is a shot in the arm for an airline with losses that widened to $48.7 million in the third quarter from $9.3 million a year ago. Hawaiian Airlines (NASDAQ: HA) began flying the Airbus A330-300 converted ...Digital freight brokerage Surge Transportation filed for bankruptcy on July 24, as FreightWaves’ Hampstead first reported the following day. 2023 was a more …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 ...
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 ... Dec 16, 2022 · 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 ... ArcBest’s ( NASDAQ: ARCB) shares jumped 16% on its third-quarter report . Yellow’s trailers parked along a fence at a shuttered Houston terminal. (Photo: Jim Allen/FreightWaves) The company’s asset-based segment, which includes LTL carrier ABF Freight, saw shipments decline 2.7% from the second quarter.Formerly the Executive Editor at DC Velocity, Mark Solomon joined FreightWaves as Managing Editor of Freight Markets. Solomon began his journalistic career in 1982 at Traffic World magazine, ran his own public relations firm (Media Based Solutions) from 1994 to 2008, and has been at DC Velocity since then.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 ...Nov 5, 2023 · 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 ... 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 ...
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.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 …
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.Russia’s invasion of Ukraine buoyed rates for tanker companies. Now there’s a new geopolitical crisis — the Israel-Hamas war in response to Saturday’s terrorism attack by Hamas — and clear potential for escalation to a regional conflict. It may seem insensitive, but it’s the job of shipping analysts and shipowner executives to ...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 ... 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 ...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 …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 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 ...If you are looking for affordable tools, then Harbor Freight Tools is a great place to start. With more than 900 stores across the United States, chances are there is one near you. In this beginner’s guide, we will walk you through some tip...The FreightTech 25 will be announced next month. FreightWaves – the industry-leading provider of news, data and analytics for the logistics markets – has announced the winners of the 2021 FreightTech 100 Awards. The world has faced significant collective hardship this year, throwing both the markets and people’s everyday lives for a …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 …
Daily Infographic: Top-funded online Food delivery companies. Brandon Cafferky. · Thursday, November 30, 2023. Listen to this article.
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 ...
Jul 20, 2023 · 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-truckload. Jul 30, 2023 · 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 ... The smooth debut of Hawaiian Airlines’ first freighter aircraft this month and the cash it, and sister aircraft, will generate from Amazon is a shot in the arm for an airline with losses that widened to $48.7 million in the third quarter from $9.3 million a year ago. Hawaiian Airlines (NASDAQ: HA) began flying the Airbus A330-300 converted ...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, 2022.5 min. Yellow Corp. expects to reduce the number of terminals in its network from 316 to 300 by year-end as the less-than-truckload carrier looks to further cut costs, company executives told analysts. Speaking after Yellow reported first quarter financial results Tuesday, chief operating officer Darrel Harris said the terminal reduction would ...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. Darryn Garson, chief growth officer at Remcoda, talks about the logistics behind holiday stocking stuffers. We’ll find out how Remcoda/BluZen products, including massage guns, migraine head wraps, essential oils and more, are headed to over 8,000 Walgreens locations, 2,000 T.J. Maxx stores and various other retail checkout counters …Demand keeps capacity tight – FreightWaves NOW. On today’s FreightWaves Now, Zach Strickland examines demand keeping capacity tight in the …Chattanooga, Tennessee—the heart of Freight Alley and home to FreightWaves—will come alive once again with the largest festival in freight November 7-9, 2023. The second annual F3: Future of Freight Festival will converge in the Scenic City at the Chattanooga Convention Center, bringing together experts, entrepreneurs, industry leaders ...Oct 30, 2023 · The smooth debut of Hawaiian Airlines’ first freighter aircraft this month and the cash it, and sister aircraft, will generate from Amazon is a shot in the arm for an airline with losses that widened to $48.7 million in the third quarter from $9.3 million a year ago. Hawaiian Airlines (NASDAQ: HA) began flying the Airbus A330-300 converted ...
Carriers ‘swiping right’ on tenders faster than any point in the past 20 months. OTRI continues to fall, finally dropping beneath 16% and rapidly approaching 15%. Major shockwaves will soon be felt by carriers, particularly by those that are new to the industry. Rejection rates fall nearer to 15%.Dec 16, 2022 · 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 ... 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 …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.Instagram:https://instagram. sandp sector etfssqm mining stockbest way to trade cryptocurrencybest mobile device insurance Morgan Stanley sees an upturn. The Cass report’s suggestion that the market has begun to bottom had some overlap with a Morgan Stanley report that projects that truck rates as measured by the Wall Street company will increase to $2.02 per mile in six months from the current $1.68, and will be $2.33 in 12 months.Web property tax increase californiatop gold stocks 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. cwbfx Whether you’re expecting an important package or want to keep an eye on your business shipments, tracking your FedEx shipment is crucial. With the advancements in technology, tracking packages has become easier and more efficient than ever ...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 ... 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.