Freightwaves trucking news.

Workers have also been unable to plant crops like tomatoes, one expert from the University of California’s farming extension center told FreightWaves. That’s bad news for the trucking industry. Truckers …Apr 11, 2023 · Cromex Inc. FreightWaves Trucking Trucking shutdown. F3: Future of Freight Festival 2023 Promo. 0:00 / 1:07. Team drivers for Cromex Inc. of Villa Park, Illinois, say they were stranded for three days in a hotel room, more than 1,000 miles from home, after the owner failed to deliver on his promise to pay drivers and set them up in a new truck. FreightWaves. See all of FreightWaves’s headline news. Compare how the top news stories are covered by left-wing and right-wing news sources. We’ve discovered 2,780 …Todd Maiden. · Wednesday, May 24, 2023. The Teamsters are currently negotiating several collective bargaining agreements that expire this summer. (Photo: Jim Allen/FreightWaves) The Teamsters union said Wednesday that a strike authorization had been approved by members covered under ABF Freight’s national master freight …Daimler Truck North America CEO John O’Leary sees a strong market for Class 8 trucks in 2023. (Photos: Daimler Truck North America) After a record 53,000 September orders, new bookings slowed …

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.Oct 19, 2023 · 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 ...

Feb 18, 2023 · In August 2021, a Florida jury awarded a record $1 billion verdict in a case involving two trucking companies for the death of an 18-year-old named Connor Dzion. Dzion’s family was awarded $100 million for pain and suffering and $900 million in punitive damages for negligent hiring and retention against one of the trucking companies. Nov 5, 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 ...

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 …Only 11% of loads are getting rejected right now, way down from 25% at this time last year. (FreightWaves SONAR) Through the end of 2020 and throughout 2021, trucking was “white-hot,” said Amit Mehrotra, managing director of transportation and shipping research at Deutsche Bank.WebTrucking 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 …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.

Todd Maiden. · Monday, January 09, 2023. The next stage of the trucking cycle could begin in early 2023. (Photo: Jim Allen/FreightWaves) Listen to this article. 9 min. Two transportation and logistics analysts placed lukewarm equity opinions on the broader transportation complex on Monday with one favoring ownership of asset-based …

Oct 30, 2023 · Data from FreightWaves SONAR presented during the webinar showed that the net reduction in the number of approved authorities has been relatively muted given the weakness of the market. The market is not ready to bounce back, Fuller said. “This is the reason the carriers feel the way they do.

Prior to founding FreightWaves, Fuller was the founder and CEO of TransCard, a fleet payment processor that was sold to US Bank. He also is a trucking industry veteran, having founded and managed the Xpress Direct division of US Xpress Enterprises, the largest provider of on-demand trucking services in North America.WebAccording to the U.S. Department of Transportation, there were more than 133 million total trucks in the United States in 2012. Of these trucks, more than 130 million were used for private or commercial purposes.Oct 29, 2023 · 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 ... 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, …WebThe CEO and founder of Stack AV is taking a shot at Class 8 autonomous trucking with the backing of Japan’s SoftBank Group Corp. Salesky is holding back on a lot of details of his new company, founded earlier this year with longtime collaborators Peter Rander and Brett Browning. The three oversaw Argo AI, a Level 4 autonomous vehicle …Web5 min. Truckload carriers and 3PLs have seen little change in demand halfway through the fourth quarter, and some are pointing deeper into 2024 before the market corrects. The comments came from heads of some of the largest publicly traded TL providers at Stephens 25th Annual Investment Conference in Nashville, Tennessee, on Tuesday.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 ...

Nov 5, 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 ... 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 …The California Trucking Association (CTA) lawsuit that dates back to 2019, which resulted in an injunction that kept AB5 at bay in trucking for 2 1/2 years until the U.S. Supreme Court declined to review a lower court ruling against the injunction, faced a deadline Wednesday for filing additional briefs. Those briefs were to be filed by the ...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.WebJul 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 ... 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.

Carriers place the economy first. Drivers listed it No. 7. Truck parking was No. 2 for drivers and No. 8 for carriers. Fuel prices were No. 3 for drivers and No. 5 for carriers, the closest to a matching priority.Motor carriers and commercial drivers agreed on just three of 10 critical issues facing the trucking industry.Diversification 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 …

FreightWaves supply chain news coverage is your leading source of global supply chain updates and information via freight data. Subscribe now for free ... Lowe’s has been changing the way it deploys trucks to deliver goods and has garnered a spot on FreightWaves’ annual list honoring shippers. Read More » Eric Kulisch ...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 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 ... Nov 27, 2023 · FreightWaves provides award-winning trucking news coverage. Subscribe to your leading source of news for free! The trucking industry has recently witnessed a steady rise in the number of women venturing into careers traditionally dominated by men. ... She is currently a staff writer, podcast producer and SiriusXM radio host for FreightWaves, a leading provider of news, data and analytics for the logistics industry.John Kingston. · Friday, November 03, 2023. Job totals in truck transportation declined for the fourth time in five months. (Photo: Jim Allen/FreightWaves) Employment in the truck transportation sector in October recorded its fourth decline in the past five months as total jobs in that classification are now down more than 30,000 since its ...Trucking Market Research - FreightIntel Group - FreightWaves Passport Home Category Trucking Trucking We publish coverage of Trucking Markets weekly and explore the …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.FreightWaves, with its headquarters in Chattanooga, Tennessee, is the nerve center of the global supply chain, bringing together world-class news, insights and …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 ...

Feb 21, 2023 · A Flourish data visualization. FreightWaves targeted the survey at owner-operators from Feb. 9-17 and heard from roughly 120 carriers in all. More than three-quarters of those identified as owner-operators, and another 6.7% answered “no, but I was for part of 2022.”. Only results from current owner-operators were considered in the analysis.

Plus. Another private player, Plus focuses most of its U.S. efforts on autonomous features that fall short of a full Level 4 system. But the high-autonomy system runs in the background of PlusDrive-enabled trucks. Plus had a big presence in China, including a joint venture with the state-owned First Auto Works.

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 …Jan 23, 2023 · The inventory level component fell from an all-time high of 80.18 — anything over 70 is extreme — last January to 54.8 in November, indicating that inventories went from growing at light speed to crawling. While December’s value of 57.3 is still not extreme, it is moving in the wrong direction for many shippers. 3 min. A Montana trucking company and freight brokerage has apparently shuttered operations, leaving nearly 275 truck drivers and office personnel without jobs, sources say. Meadow Lark Transport Inc., of Billings, Montana, had 273 drivers and 337 power units at the time of its closure, according to the Federal Motor Carrier Safety ...Photo: Jim Allen/FreightWaves. 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 ...Trucking is an extremely competitive market, long hauler or local it is brutal work, only the toughest and smartest survive. All this AI, robot trucks, Electric trucks are dangerous, unproven and a long way from replacing drivers. ... FreightWaves’ news, content, market data, insights, analytics, innovative engagement and risk management ...Expecting an increase in the volume of cross-border logistics across the U.S.-Mexico border, the Tecma Group of Companies recently acquired flatbed operator Omega Trucking. The acquisition of Santa Teresa, New Mexico-based Omega took effect Jan. 1. The Omega flatbed operations will be merged into Tecma’s Transportation Services …WebFY 2012-2023. Average per-mile spot rates for trucking fleets have hit $1.54, down 11.6% from 2022 and 34.4% from 2021, according to the FreightWaves National Truckload Index. At the same time, the costs of fuel, replacement parts, insurance and other key inputs have soared.FreightWaves is the most trusted provider of global supply chain market intelligence. Our high-frequency price, demand, and capacity data and analysis allow our customers to benchmark, analyze, monitor and forecast the global physical economy.Clarissa Hawes. · Monday, July 17, 2023. Georgia-based Big J Express filed for bankruptcy on Friday. (Photo Credit: Jim Allen/FreightWaves) Listen to this article. 4 min. A Georgia-based trucking company, which reported a significant drop in revenue this year compared with the previous two years, filed for bankruptcy liquidation on Friday.She’s especially interested in trucking news. Before joining FreightWaves in 2022, Rachel was a senior features reporter at Business Insider. She created the trucking news beat at Business Insider, and has appeared on NPR Marketplace, ABC News, NBC Nightly News, The Today Show, France24, and other major outlets to discuss her coverage.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].According to trucking industry data tracker DAT Solutions, the national average spot rate for freight trucking was $2.13 per mile in February, a 31 percent gain from $1.62 per mile during the same month a year ago. Fuel prices are also on the rise, up 1.3% over the past week, and 19% year-over-year between Feb. 2017 to Feb. 2018.

A typical monster truck event like Monster Jam lasts between two and two and a half hours. This also includes an intermission. After the show, there is generally a post-show autograph session.Dec 14, 2022 · The 2031 standards under Option 1 would lower truck emissions by 90% compared to current norms, and EPA estimates that NOx emissions from the total fleet of heavy-duty trucks on the road in 2045 would decrease by as much as 60%. Option 2 would achieve less overall NOx emissions reductions than Option 1, according to EPA. 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 ...Instagram:https://instagram. stock websites to usectm marocwhy is jnj down todaypure storage ceo In August 2021, a Florida jury awarded a record $1 billion verdict in a case involving two trucking companies for the death of an 18-year-old named Connor Dzion. Dzion’s family was awarded $100 million for pain and suffering and $900 million in punitive damages for negligent hiring and retention against one of the trucking companies.Web how to invest in startupsinvestorsobserver reviews 4 min. Morgan Stanley trimmed estimates Thursday ahead of earnings season. The firm sees the second quarter of 2023 as the point of “peak pain” for trucking companies and likely the bottom of the cycle. “The quarter began with most companies reporting on 1Q calls that there was virtually no spring seasonal pickup and while this improved ...Web who is cheaper uber or lyft 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].She’s especially interested in trucking news. Before joining FreightWaves in 2022, Rachel was a senior features reporter at Business Insider. She created the trucking news beat at Business Insider, and has appeared on NPR Marketplace, ABC News, NBC Nightly News, The Today Show, France24, and other major outlets to discuss her coverage.