2024 Freight waves news - 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.

 
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.. Freight waves news

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.3.5M Unique Visitors Per Month 258K+ Social Followers 14 AWARDS FOR EXCELLENCE IN B2B JOURNALISM 2020 FINALIST, BEST WHITE PAPER INSIGHTS FROM …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 …GlobalX Airlines defies cargo trend with fleet strategy. Global Crossing Airlines, a 2-year-old hybrid carrier that provides supplemental airlift to customers that rent the entire plane, is taking a long-term view toward cargo expansion at a time when freight demand is very soft. American Shipper. Air Cargo. Eric Kulisch Wednesday, November 15 ...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.3 min. Logistics and freight-forwarding giant Expeditors International has shut down most of its operations systems after being targeted in a cyberattack, the company said. The effects on the Seattle-based company’s operations have been widespread. “While our systems are shut down we will have limited ability to conduct operations ...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 ...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 ...FreightWaves. Amazon Air’s new reliance on hub airports increases efficiency. 8 min. Amazon’s in-house cargo airline is strategically concentrating more traffic at its Cincinnati hub and three regional bases while deemphasizing point-to-point flying, according to a report released on Tuesday that also showed it increased flight activity in ...The Journal reported that the bankruptcy filing would come this week. All these reports sent shares of Yellow plunging 40% in early trading Thursday. Asked about reports of an imminent bankruptcy ...WebNov 17, 2023 · 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. Spot rates fall back again. The global composite of Drewry’s World Container Index (WCI) fell 6% in the week ending Thursday versus the prior week, to $1,384 per forty-foot equivalent unit. The global composite has given back all of its gains since the beginning of Q4 and is now down 1% versus Oct. 1. Spot rate in USD per FEU.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 ... Oct 31, 2023 · 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. 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.1 min. The December 2023 “State of the Industry Report” — presented in affiliation with Ryder — shares an in-depth overview across the trucking, maritime and intermodal markets, as well as what to expect in the coming weeks. The data contained within the report provides breakdowns of capacity, volumes and rates. In this report, you will ...WebNoi 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 …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 ...Are you in the market for new furniture? Look no further than American Freight. With a wide selection of quality pieces at affordable prices, American Freight is the go-to destination for all your furniture needs.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.Trucking companies have different operating costs, but none of them can survive long on low rates. Throughout this year, truckload spot rates have hovered between $1.50 and as high as $2.10 a mile. Meanwhile, the average breakeven cost per mile for truckload ranges from $1.56 to $1.90 per mile, according to a recent J.P. Morgan study.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.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 ...Given the mounting economic headwinds facing U.S. import demand for the remainder of 2023, a second-half rebound not only seems increasingly unlikely, but we could see U.S. import demand further deteriorate. The industry should be prepared for the growing likelihood of U.S. import demand potentially declining further in the back half of the year.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 ...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 ...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 ...Dec 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. 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.”.WebThe 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.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 ...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, …WebDarryn 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 …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 …WebNov 24, 2023 · Jan. 23: Uber Freight, approximately 3% of workforce. FreightWaves’ John Kingston first reported on Jan. 23 that Uber Freight, the Chicago-based freight brokerage arm of ride-sharing giant Uber, would cut about 150 jobs from its digital brokerage division. That’s 3% of Uber Freight’s total workforce. 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 ... 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 was... Read more. 1 2 … 9. Stay up-to-date on your #1 source for the latest transport, freight and logistics news from FreightWaves. 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 ... Ground News shows the latest headlines from FreightWaves, a freight transportation data and analysis platform, and compares them with left-wing and right-wing news sources. …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.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 ...WebDiversification will be key in 2024. With 2024 expected by many to see a swing in pricing power back in carriers’ favor, Carrillo emphasized the need for shippers …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.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.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.WebFreightWaves is the leader in non-biased, user-generated reviews and feedback to help carriers find the best technology partner for their fleet. Konexial is honored to be a FreightWaves Trusted Partner and to showcase the benefits of edge computing technology and our live supply chain™ ecosystem. Kristin Rakoczy, Marketing Director. As one of ...6 min. Not a single container ship waited offshore of the ports of Los Angeles or Long Beach on Nov. 22-23. It was the first time the queue had gone to zero since October 2020, in the early days of the COVID-era consumer boom. “The container-ship backup for the ports of Los Angeles and Long Beach has ended,” declared Kip Louttit, executive ...WebThe 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 ...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 ... 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 …15 min. The biggest bankruptcy in U.S. trucking history could occur in the coming days when the nation’s third-largest less-than-truckload carrier, Yellow Corp., files. The company ceased all operations at noon on Sunday, and leadership representing its Teamsters workforce said it had been notified of a pending bankruptcy filing.1 min. Robotics firm Dexterity AI said Tuesday it has partnered with FedEx Corp. (NYSE: FDX) to have robots load FedEx Ground trailers by leveraging AI-powered technology. The first robotic truck was unveiled Tuesday at a joint event, called Unlock the Dock, held in San Francisco. FedEx is testing the technology with FedEx Ground trailers …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 ...3 min. Teamsters at less-than-truckload carrier Yellow Corp. will not be on strike Monday as previously planned. Central States Funds agreed Sunday to extend health care benefits for employees at YRC Freight and Holland. Yellow ( NASDAQ: YELL) now has 30 days to pay $50 million to catch up on its benefits payments.Jul 18, 2023 · 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 ... Canada’s dockworkers strike impacts freight rail operations. As the labor strike continues at the ports of Vancouver and Prince Rupert, Class I railroads are taking steps to ensure that their networks face minimal disruptions. Read More ». Noi Mahoney Wednesday, July 5, 2023.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 economic situation,” according to sources familiar with the layoffs.WebAn order was entered in a Delaware bankruptcy court Thursday naming less-than-truckload carrier Estes Express Lines’ $1.525 billion stalking horse bid as the winning offer of Yellow Corp.’s portfolio of owned terminals. Bid protections for Estes were also approved, including a $7.5 million breakup fee and expense reimbursement up to $1.6 ...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 …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 ...Sep 13, 2023 · 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. The naming ceremony of the 24,188-TEU OOCL Spain was held at China’s NACKS shipyard on Feb. 16. (Photo: OOCL) FreightWaves. ‘Colossal’ tidal wave of new container ships about to strike. 8 min. Here it comes. An unprecedented flood of new container ships is about to enter service. The pace of deliveries will pick up in earnest …WebFreight 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 …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 ...West Coast queues. According to the Friday 7 a.m. queuing list from the Marine Exchange of Southern California, 24 container ships were waiting for berths in Los Angeles/Long Beach, with a total capacity of 208,903 TEUs (average size: 8,704 TEUs). This backlog is down sharply from a high of 109 ships on Jan. 9, but it’s still the second ...Web7 min. The conventional wisdom at this time is that most of the world has moved on from the pandemic (except for China); therefore, supply chains will return to “normal.”. Unfortunately, this is not the case. The world has permanently changed and supply chains are going to face continuing challenges for decades to come. Among those ...UPS Inc. (NYSE: UPS) said late Thursday that it will raise 2024 tariff rates 5.9% on all air, ground and international services, effective Dec. 26.The move matches rival FedEx Corp. (NYSE: FDX), which announced a 5.9% increase late last month.Both carriers have thus reduced their tariff rate increases by 1 full percentage point from 2023’s record …WebSep 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. 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 ...Other truck driver challenges include issues related to health and wellness. Truckers must deal with a lack of exercise, poor diet, extended periods without bathroom breaks, eye strain, cramped conditions, poor sleep — not to mention the mental toll of being away from home and family for days at a time. Though many drivers earn good wages ...WebOct 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 ... Discuss general economic news, banking malfeasance, paper bug gestalt. Threads 743 Messages 8.6K. Threads 743 Messages 8.6K. Fed will overshoot rate increases. Yesterday at 12:50 PM; pmbug; Other Markets. Stocks, bonds, crypto and other investment markets. Threads 83 Messages 8.4K. Threads 83 Messages 8.4K.WebDigital freight brokerage Surge Transportation filed for bankruptcy on July 24, as FreightWaves’ Hampstead first reported the following day. 2023 was a more …Jul 19, 2023 · In Ying Ye v. GlobalTranz Enterprises Inc., a shipper tendered a load to GlobalTranz Enterprises, a freight broker, requesting that it arrange for the transportation of the load from Illinois to Texas. GlobalTranz retained an unrelated motor carrier, Global Sunrise, to perform the actual transportation. While transporting the load, Sunrise was ... FRA issued two safety advisories in 2014 and 2020, and in the years 2018, 2021 and 2022, just one safety advisory was issued. In 2017 and 2019, no safety advisories were issued. Transport Canada has been requiring Canadian Pacific Kansas City and CN since 2022 to submit plans about how they expect to conduct rail operations in winter.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.CWT in freight is calculated by dividing the total weight of a shipment by 100, since CWT means “cents per hundred pounds.” To calculate freight charges, multiply the applicable rate per unit of weight by the weight of the shipment.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 ».The combination drove transportation prices to a level of 27.9, 8.9 points worse sequentially and the fastest rate of contraction ever recorded. The index’s pricing measure was more than 37 points worse y/y and 63 points lower than two years ago. Further, respondents reported weaker trends in the last two weeks of the month, returning a ...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.News that moves you. Our award-winning team combines the best in broadcast journalism with the diesel in our veins as we bring you the inside scoop on what’s happening in freight right now. From deep dives to fast facts, FreightWavesTV covers the world of freight like no one else. Start Watching Now On Demand Content Whether you like to watch ...WebApproximately 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 economic situation,” according to sources familiar with the layoffs.WebFreight waves news

Important dates. July 10, 2023: Nominations open for FreightTech 202 4. Sept. 1, 2023: Nominations close for FreightTech 202 4. Sept. 18, 2023: FreightTech 100 announced on freightwaves.com. Nov. 9, 2023: FreightTech 25 announced at F3: Future of Freight Festival. Click here to nominate a company for the 2024 FreightTech award.Web. Freight waves news

freight waves news

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.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 ...Dec 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. 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 ...Sustainability News from FreightWavesPennsylvania 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 ...15 min. The biggest bankruptcy in U.S. trucking history could occur in the coming days when the nation’s third-largest less-than-truckload carrier, Yellow Corp., files. The company ceased all operations at noon on Sunday, and leadership representing its Teamsters workforce said it had been notified of a pending bankruptcy filing.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' …Nov 13, 2023 · 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%. 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 …Given the mounting economic headwinds facing U.S. import demand for the remainder of 2023, a second-half rebound not only seems increasingly unlikely, but we could see U.S. import demand further deteriorate. The industry should be prepared for the growing likelihood of U.S. import demand potentially declining further in the back half of the year.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 ...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).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 ...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 ... FreightWaves provides thought leadership and editorial content focused on the Global Supply Chain. At the core of each article or content piece is a focus on...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.Dec 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. 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.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 …Nov 29, 2023 · 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. 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 ... 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 economic situation,” according to sources familiar with the layoffs.WebImportant dates. July 10, 2023: Nominations open for FreightTech 202 4. Sept. 1, 2023: Nominations close for FreightTech 202 4. Sept. 18, 2023: FreightTech 100 announced on freightwaves.com. Nov. 9, 2023: FreightTech 25 announced at F3: Future of Freight Festival. Click here to nominate a company for the 2024 FreightTech award.WebJul 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. 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.15 min. The biggest bankruptcy in U.S. trucking history could occur in the coming days when the nation’s third-largest less-than-truckload carrier, Yellow Corp., files. The company ceased all operations at noon on Sunday, and leadership representing its Teamsters workforce said it had been notified of a pending bankruptcy filing.Jun 1, 2023 · As we see in the chart below, the floor that has been established so far in 2023 puts ocean container spot rates currently between $1,000 and $1,700 from China/East Asia to the U.S. West Coast and $2,000-$2,550 from China/East Asia to the U.S. East Coast, according to the Freightos Baltic Index. So, if volumes were to remain relatively flat for ... 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 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 …It will take some time for other LTL carriers to absorb Yellow’s volume if the carrier shuts down abruptly. 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 ...WebDomestic Supply Chain Summit | December 13, 2023. Join us as we explore how to make disruptions a thing of the past and look at emerging trends.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 ...Freight factoring, also known as transportation factoring or trucking factoring, is a service option that can help trucking companies streamline their cash flow. One of the easiest ways to understand freight factoring is to understand the p...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 ...5 min. Union leaders representing Federal Express pilots said late Friday they will seek authority from members to call a strike when legally permissible. But no imminent work action can happen because the federally controlled negotiating process still has a long way to go. The Air Line Pilots Association said voting for strike authorization ...Nikola refuted its skeptics on Wednesday, lining up nearly a dozen regular production battery-electric Class 8 trucks for shipment to customers from the first phase of a $600 million plant in the desert between Phoenix and Tucson. “We’ve been a pre-revenue startup for years,” CEO Mark Russell said at a production launch event.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 ...Required fields are marked. The Freightos Baltic Index (FBX) is the world’s leading—and most accurate—index of market rates for 40' containers.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. 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.Freight allowed describes an agreement between a buyer and a seller, in which the buyer pays for the cost of shipping, and the seller deducts this from the invoice. This means that the obligation of the seller is to ensure that the goods ar...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. Dec 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. 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 …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.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. 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 …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 ... 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 ... . Llc delaware benefits