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Nov 29, 2023 · Trucking and logistics companies are seeing a massive downturn. FreightWaves has reported on the biggest shutdowns and layoffs since 2022. 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.3 min. The two ways shippers could purchase trucking capacity were through contracts or the spot market. Until now. FreightWaves has introduced index-linked contracts as a third option for trucking capacity. Currently, 30 shippers — large consumer-brand companies — are in various stages of implementing this new product.FreightWaves trucking equipment news coverage is your leading source of commercial trucking news and information via freight data. Subscribe now for free. SONAR Demo | ... Looking for additional commercial trucking news? Visit our Trucking News archive. Alan Adler Tuesday, January 10, 2023Used 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 …

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...Mar 24, 2022 · A rash of trucking bankruptcies are on the way and it will be Bloodbath 2.0. Trucking has enjoyed the largest number of new entrants in its history over the past two years. New fleet registrations were up to 20,166 last month alone. This is unprecedented. The last peak was in August 2019; there were 9,511 new trucking fleets and that was in the ...

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 …

A third-generation family-owned trucking company and brokerage — Certified Freight Logistics, headquartered in Santa Maria, California — is ceasing operations on Saturday after 95 years. Scott Cramer, president of Certified Freight Logistics (CFL), said he notified employees on Aug. 22 that the trucking company and freight brokerage, which ...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 ...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 ...6 min. A predictive rate index released Tuesday showed truckload pricing “tumbling” further in the second quarter while less-than-truckload rates stabilize from a “sharp drop” in the first quarter. The TD Cowen/AFS Freight Index — a compilation of data from third-party logistics provider AFS Logistics and investment bank TD Cowen ...

When it comes to hiring a truck driver, there are certain qualities and traits that you can look for to increase the chances that your driver is reliable, responsible, and safe. Here are some of the key things to look for when hiring a truc...

FreightWaves. Axle aims to empower trucking companies using big data. 4 min. While digital highways are connecting more and more of the global supply chain — including linking every tractor-trailer in the U.S. to the internet — the founders of Axle said most trucking companies and logistics operators are still missing out on a wealth of data.Web

FreightTech 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.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.WebWhen it comes to selling your truck, you want to make sure you get the best possible price. But how can you know what your truck is worth? Fortunately, there are a few simple steps you can take to find out how much your truck is worth today...Jun 22, 2023 · 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 ... Aurora pushes toward driver-out in 2024. Aurora is the first to name the freight-dense corridor for hub-to-hub operations ahead of planned driver-out commercial freight runs on I-45 as soon as late 2024. It currently operates 75 autonomous runs a week with safety drivers. Terminals for launching and landing autonomous trucks are up and running ...

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.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 ...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 ... Its petition states the company made around $10.5 million in 2021 and more than $9 million in ’20. The trucking firm’s bankruptcy attorney, Timothy Kingcade, told FreightWaves earlier this week that the brothers’ for-profit CDL school, Soler & Soler CDL School Corp., also headquartered in Miami, is not part of the Chapter 11 proceedings.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. A federal judge has ordered a Mississippi trucking company and its owner, Xavier Bailey, to pay more than $482,000 after finding Bailey made false statements in order to obtain funds through the U.S. Small Business Administration’s Paycheck Protection Program (PPP).. The forgivable-loan program was enacted to help struggling businesses …A federal judge has ordered a Mississippi trucking company and its owner, Xavier Bailey, to pay more than $482,000 after finding Bailey made false statements in order to obtain funds through the U.S. Small Business Administration’s Paycheck Protection Program (PPP).. The forgivable-loan program was enacted to help struggling businesses …

John Gallagher. · Monday, August 29, 2022. Hemp loading onto back of truck. (Photo: 357 Hemp Logistics) Since passage of the 2018 Farm Bill legalizing the cultivation and sale of hemp and its derivatives, a lack of guidance governing how the cargo is transported has been a potential barrier for trucking companies looking to take advantage of ...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 …

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 …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...Morgan Stanley ( NYSE: MS) published a survey Monday of shippers, brokers and carriers either working with Yellow or involved in the LTL industry. Ninety-five percent of shippers tendering freight to Yellow said they were at least “somewhat concerned” about a potential strike or bankruptcy filing (55% were “very concerned”).WebTrucking company to pay $7.7 million in case of wheel coming loose, striking vehicle. Digital freight platform Convoy announces 2nd round of layoffs since June. FreightWaves Mid Continent Trucking Trucking. Family-owned Mid Continent Trucking of Denison, Iowa, notified drivers and employees recently that after 24 years, the refrigerated carrier ...Jul 25, 2023 · 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 Tuesday it was “limiting ... Jan 26, 2023 · At the end of 2020, only 12.5% of drivers who had tested positive had been cleared to drive again. In 2021 that number increased to 22.7%, and it increased again in 2022 to 27.6%. Garney also noted that starting on Jan. 6 — after three full years of clearinghouse operation — motor carriers were no longer required to query a driver’s ... FreightWaves. Axle aims to empower trucking companies using big data. 4 min. While digital highways are connecting more and more of the global supply chain — including linking every tractor-trailer in the U.S. to the internet — the founders of Axle said most trucking companies and logistics operators are still missing out on a wealth of data.WebA rash of trucking bankruptcies are on the way and it will be Bloodbath 2.0. Trucking has enjoyed the largest number of new entrants in its history over the past two years. New fleet registrations were up to 20,166 last month alone. This is unprecedented. The last peak was in August 2019; there were 9,511 new trucking fleets and that was in the ...

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.

FreightWaves, with its headquarters in Chattanooga, Tennessee, is the nerve center of the global supply chain, bringing together world-class news, insights and …

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.A spokesman for the New York City Department of Transportation said in an email to FreightWaves that the estimated truck traffic on the section of road is 11,700 vehicles per day. The number of trucks that are estimated to be overweight is 10%, based on the results of WIM technology that has been in place for a portion of the road since 2019.The 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 …Truck parking and storage can be a challenge for truckers. Finding the right spot to park and store your truck can be difficult, especially if you’re on the road for long periods of time. Fortunately, there are a few tips that can help you ...FreightWaves. Axle aims to empower trucking companies using big data. 4 min. While digital highways are connecting more and more of the global supply chain — including linking every tractor-trailer in the U.S. to the internet — the founders of Axle said most trucking companies and logistics operators are still missing out on a wealth of data.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.Oct 26, 2023 · The recent shutdown of Convoy, a digital freight brokerage established in 2015, shows that. Convoy enjoyed all the trappings of a runaway tech success. Its two co-founders, Dan Lewis and Grant Goodale, had Amazon and Ivy League credentials. Convoy counted Jeff Bezos, Bill Gates and (bizarrely) Bono among its investors. Indiana-based Elmer Buchta Trucking and its entities recently filed for Chapter 11 bankruptcy. Photo: Jim Allen/FreightWaves. An 85-year-old Indiana-based trucking and logistics company and its affiliates recently filed for Chapter 11 bankruptcy protection less than nine months after it was acquired by private-equity firm Transport Acquisitions.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].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 ...

If you own a box truck, you know that finding loads is crucial to keeping your business running smoothly. But with so many options out there, it can be challenging to know where to start.Nov 27, 2023 · FreightWaves provides award-winning trucking news coverage. Subscribe to your leading source of news for free! 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, …WebInstagram:https://instagram. does beagle cost moneywhat's a stockwestern asset core plustradingview pricing That makes it a fair, if imperfect, alternative to diesel trucks. By Dec. 31, drayage fleets are required to have their trucks registered in an online database. Any new trucks registered on or after Jan. 1, 2024, must be zero emissions. By 2035, the state of California will require all drayage trucks to be zero emissions. rklbstocklvs stocks Moving can be a stressful experience, but it doesn’t have to be. With the right preparation and planning, you can make your move as smooth and hassle-free as possible. Here is a guide to help you prepare for your move with 2 Men and a Truck...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 ... rm classic car auction 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.Jan 29, 2023 · In 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 ... Jun 22, 2023 · 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 ...