Freight waves news.
Nov 30, 2023 · Loaded and Rolling: Trucking turnover and retention debate rages on. FreightWaves’ Rachel Premack wrote an article on Wednesday outlining her experience attending a truck driver training conference in Corpus Christi, Texas, by the National Association of Publicly-Funded Truck Driving Schools (NAPFTDS). Premack sought to get more information ... The firm titled its June 3 report “Watching the China Freight Wave,” which covered the slowdown in container markets and forewarned about a slowing U.S. domestic freight market. Using the same data, on June 7, FreightWaves wrote an article titled “U.S. import demand is dropping off a cliff.” We saw container flows out of China to the U ...Jun 7, 2022 · 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. The indexes, which are derived from surveys of carriers, brokers and shippers, measure near-term and longer-term profitability, workforce and business investment sentiment. For the first time since we started tracking sentiment in Q4 2022, an overall score has fallen into the negative. FreightWaves SONAR: NTI.USA (white) and NTIF.USA (green).
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 ...Freight brokers handle a large amount of the truck transport business in the United States. A freight broker company provides a link between a shipper who has goods to transport and a carrier who has trucks to move those goods. The company ...
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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. 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 market conditions are a function of the balance of supply and demand and the build-up of excess capacity is the most probable cause of the trucking boom-and-bust cycle. As we enter the second quarter of 2023, it appears that the freight market may be worse than the freight recession of 2019, as tender rejections are on the verge of …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 ... 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.
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 ...
The chart is measuring the market in weeks; green is expansion, red is contraction. As capacity continues to correct, the freight rate cycle will begin to move at a faster pace (perhaps later this year; more likely late in the first quarter of 2024). Rates will move higher. Generally speaking, this helps carriers and is detrimental to shippers.
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 …As of 2014, Harbor Freight Tools does not offer franchises. The company owns all of its stores and operates a real estate department that assesses potential locations for future stores.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 in between.The Teamsters and UPS Inc. came to terms on all noneconomic issues during national contract negotiations on Tuesday, the union said. “We have reached tentative agreement on well over 40 noneconomic issues that affect all our members at UPS, and we did it as a team. The Teamsters haven’t sacrificed a single concession in these negotiations ...FreightWaves again named one of fastest-growing companies in North America. Chattanooga, Tennessee-based FreightWaves has been named to Deloitte’s Technology Fast 500 list. Read More ». Noi Mahoney Tuesday, November 7, 2023.FedEx (NYSE: FDX) has cut salaries by $12,600 for each inside sales worker, according to Adi Karamcheti, a professional services consultant at Shipware LLC who spent nearly 13 years in FedEx’s inside sales operation. A sales employee who had been making the minimum base of $50,000 a year will now be making $38,000 a year, …Brokers and 3PLs began with a lower sentiment of 9.84 in Q4 2022, which dipped further in Q1 2023 to 6.97. Their sentiment saw a fluctuation, climbing to 9.39 in Q2 2023 and peaking at 12.55 in Q3 2023, indicating a resurgence of confidence, before descending again to 8.78 in Q4 2023.
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 ...WebTruckload 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 ...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 ...7 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 ...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 ...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 ...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.
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.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.
Oct 28, 2023 · Freight boom is not without downsides for carriers. One of the results of the 2017-18 freight market boom was an increase in the cost of operating that held over into a slower 2019 when capacity became abundant. Costs are on the rise once again as carriers struggle to find drivers to capture market share. Read More ». 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, …WebUSA, 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 …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.Oct 30, 2023 · 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. 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.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 ...Chart: ( SONAR: NTIL.USA ). The National Truckload Index (linehaul only – NTIL) is based on an average of booked spot dry van loads from 250,000 lanes. The NTIL is a seven-day moving average of linehaul spot rates excluding fuel. Spot rates are still 15% lower year over year. Bruffett is seeing capacity exit as well.
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 …Web
You may have heard about freight shipping, but you weren’t exactly sure exactly what it meant. How did it differ from regular shipping? Is it more expensive, or is it cheaper? Check out below for information on what freight shipping is and ...
Daily Infographic: Top-funded online Food delivery companies. Brandon Cafferky. · Thursday, November 30, 2023. Listen to this article.Nov 5, 2023 · 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 ... FreightWaves Infographics Infographics News Daily Infographic: US gasoline prices decline amid lower gasoline demand and falling crude oil prices Brandon CafferkyNov 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 ... 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.Apr 13, 2022 · 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. 6 min. Air Transport Services Group, a diversified provider of cargo aircraft and transportation services, has fired CEO Rich Corrado and replaced him with Joe Hete, the current chairman of the board who previously ran the company for 17 years. The announcement late Monday afternoon coincided with the company’s publication of third …Freight Industry News & Trends. ... Riding a wave of innovations, the digital freight services startup ranked No. 3 on the FreightTech 25 list of most disruptive companies. Read More » Brian Straight Thursday, October 10, 2019 Convoy touts 45% reduction in empty-mile emissions as its Automated Reloads program grows Convoy …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.A captain who works 40 years at FedEx can expect to make slightly more than $20 million in pay, benefits and retirement over his or her career compared to the industry average of about $18.8 million, according to analysis by aviation analyst Kit Darby. But the total compensation now lags Alaska Airlines, Hawaiian Airlines, Delta Air LInes ...
You can find the Standard Carrier Alpha Code for a freight company at SCACCodeLookup.com. An alphabetized list of the most common SCAC codes is available at EDIProvider.com.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 data and actionable intelligence.Seed producers are highly integrated shippers, meaning that they are not only moving test seeds globally, but also transporting large volumes of seeds across continents to meet different planting seasons. For example, between 10% and 25% of corn and soybean seed planted each spring in the U.S. Midwest originates in South America …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 ... Instagram:https://instagram. stocks making the biggest moves after hoursa.i prhybrid telluridenatera test cost 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 ... spacex symbolhealth insurance companies in oklahoma 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 … utility vehicles electric The ¥13.2 trillion extra budget is largely aimed at trying to ease the pain of the strongest inflation in decades. Almost 30% of firms surveyed by the Japan Trucking Association in 2022 said they ...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 ...