Freightwaves trucking news.
The average retail price of diesel ( DTS ), the primary fuel for Class 8 trucks, has increased 16% since the end of July — the largest and fastest increase since October of last year. The rapid jump in fuel costs is masking the fact the trucking market is still deteriorating. Rising diesel prices have propped up truckload spot rates in ...
Family-owned Art Mulder & Sons ceased operations in November. An online auction is slated for Tuesday to sell the assets of family-owned Art Mulder & Sons Trucking (AMST) of Holland, Michigan. The move comes two months after the refrigerated less-than-truckload (LTL) carrier ceased operations in late November after more than 50 years.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.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.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.Family-owned Art Mulder & Sons ceased operations in November. An online auction is slated for Tuesday to sell the assets of family-owned Art Mulder & Sons Trucking (AMST) of Holland, Michigan. The move comes two months after the refrigerated less-than-truckload (LTL) carrier ceased operations in late November after more than 50 years.
Nov 20, 2023 · Trucking Equipment. Throughout the pandemic, the commercial trucking industry struggled with a shortage of drivers. As the effects of the pandemic lessen and more drivers are hired, however, the industry is now facing a shortage of vehicles and other trucking equipment instead. Check back here for news and information related to trucking fleet ... The watershed moment in trucking-related nuclear verdicts came in 2011, when a jury in Cobb County, Georgia, awarded $40 million in a wrongful death suit, according to the American Transportation Research Institute. (Photo: Jim Allen/FreightWaves) On Feb. 27, 1992, Stella Liebeck ordered a 49 cent cup of coffee from a McDonald’s drive-thru in ...
The 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 company ...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.
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.Trucking demand is softening. (Photo: Jim Allen/FreightWaves) Trucking demand is “near freight recession levels,” according to Bank of America. Shippers’ outlook on rates, capacity and inventory levels are matching attitudes not seen since May and June 2020, when pandemic lockdowns sent freight volumes into a historic decline. In a Friday ...Dec 20, 2022 · Two reports released Tuesday convey just how bad things got in the trucking industry this fall. FTR Transportation Intelligence said trucking conditions hit an 18-month low in October 2022. High diesel costs and sinking rates pushed the firm’s Trucking Conditions Index to its lowest point since April 2020, when it hit a record bottom. FreightWaves less than truckload news coverage is your leading source of LTL industry news and information via freight data. Subscribe now for free.
June 28: More than 60 small trucking companies are collectively owed millions of dollars after Transplus Freight System Inc. (Transplus), a Mississippi-based …
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.
The impact of deregulation on the trucking industry. Before deregulation, trucking rates were fixed and approved by the Interstate Commerce Commission (ICC). President Jimmy Carter deregulated the airline industry in 1978 and then the trucking and railroad industries, both in 1980. ... FreightWaves’ news, content, market data, insights ...WebEx-Celadon executives Eric Meek and Bobby Lee Peavler had been indicted on nine counts of fraud for an alleged accounting scheme. (Photo: Jim Allen/FreightWaves) The Securities and Exchange Commission has agreed to settle an accounting fraud case against two former Celadon Group Inc. executives accused of engaging in a scheme to hide millions ...Saia opened two new terminals in the first quarter, one near Chicago and the other near Parkersburg, West Virginia. It opened seven new terminals in 2021. In the prepared statement released with the earnings, Holzgrefe said he anticipates four terminal openings this quarter. In a note to investors, the transportation research team at …WebThe 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 ...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.Trucking Market Research - FreightIntel Group - FreightWaves Passport Home Category Trucking Trucking We publish coverage of Trucking Markets weekly and explore the …Freight Industry News & Trends. The Future of Freight is a collaboration between FreightWaves and Convoy to highlight the businesses and individuals who are leading this change. Here you’ll find stories about supply chain professionals who are modernizing their operations, the technologies enabling the change, and best practices …
Craig Fuller, CEO at FreightWaves Thursday, August 10, 2023. Truck drivers, construction workers and other manual workers are getting a huge pay raise. Get used to it. UPS’ CEO announced that drivers will be making $170,000 a year in pay and benefits by the end of a five-year employment contract.The updated Navistar International LT arrives next July with up to 15% better fuel efficiency than the first generation of the current engine. (Photo: Alan Adler/FreightWaves) LAS VEGAS — Navistar Inc.’s S13 integrated powertrain for its on-highway trucks is the manufacturer’s last new internal combustion engine.Aug 21, 2023 · Craig Fuller, CEO at FreightWaves Thursday, August 10, 2023. Truck drivers, construction workers and other manual workers are getting a huge pay raise. Get used to it. UPS’ CEO announced that drivers will be making $170,000 a year in pay and benefits by the end of a five-year employment contract. 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.Web2 days ago · FMCSA’s own statistics red-flags the problem. Of 690,091 interstate freight carriers eligible for an FMCSA safety rating in 2021, 646,777 — roughly 94% — did not have a rating, according to the agency’s most recent annual safety data, published in December 2022. “A system that rates less than 10% of the eligible population is ... 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 ...
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 ...Web
Here are some of the small trucking companies that went bankrupt this year: Freon Logistics, 10 drivers. Navarro Trucking Group, 15 drivers. JCB Trucking Enterprises, 16 drivers. McClellan Trucking and Duran Transfer, 21 drivers. Elite Transportation, 25 drivers. Rooney Trucking, 37 drivers.Jul 28, 2023 · Yellow, a 99-year-old company headquartered in Nashville, Tennessee, employs some 30,000 workers. About 22,000 of them are represented by the Teamsters union.Teamsters and Yellow have been locked in a monthslong strife over changing key work rules at the trucking fleet. 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 …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 …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.The impact of deregulation on the trucking industry. Before deregulation, trucking rates were fixed and approved by the Interstate Commerce Commission (ICC). President Jimmy Carter deregulated the airline industry in 1978 and then the trucking and railroad industries, both in 1980. ... FreightWaves’ news, content, market data, insights ...Web
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.
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 ...
Jul 21, 2023 · 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, some of Yellow’s ... Aug 21, 2023 · Craig Fuller, CEO at FreightWaves Thursday, August 10, 2023. Truck drivers, construction workers and other manual workers are getting a huge pay raise. Get used to it. UPS’ CEO announced that drivers will be making $170,000 a year in pay and benefits by the end of a five-year employment contract. 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.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 ...Judge orders Ray to forfeit more than $42 million and assets that include a 1968 Chevy Camaro. Clarissa Hawes. · Wednesday, November 29, 2023. Former …Sep 6 Sep 06, 2023 FreightWaves CEO Craig Fuller calls the truck driver shortage a “myth” in a recent piece of self-promotion, but his assertion collapses under the weight of …Jul 4, 2023 · Correll told lawmakers that based on his research team’s analysis of trucker ELDs, he estimated that American long-haul, full-truckload drivers spend an average of 6.5 hours of their maximum 11-hour federally regulated working day driving their trucks. “This implies that 40% of America’s trucking capacity is left on the table every day ... June 28: More than 60 small trucking companies are collectively owed millions of dollars after Transplus Freight System Inc. (Transplus), a Mississippi-based …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 ...Two reports released Tuesday convey just how bad things got in the trucking industry this fall. FTR Transportation Intelligence said trucking conditions hit an 18-month low in October 2022. High diesel costs and sinking rates pushed the firm’s Trucking Conditions Index to its lowest point since April 2020, when it hit a record bottom.Driver earnings. A company truck driver in Poland can expect to earn 5000-8000 PLN ($1,200-$1,900 USD) per month. The amount is calculated per kilometer, the average rate being 50 groszy/km (19 US cents per mile). In the US, company truck drivers are paid per mile in the region of 50-60 cents per mile.FreightWaves Daily; FreightWaves Best Of; AS Daily; AS Week In Review; Modern Shipper; Supply Chains. The Stockout (CPG & Retail) Running on Ice (Cold Chain) Must Reads. What The Truck; MODES Newsletter; Net-Zero Carbon; Truck Tech; Check Call (3PL News/Analysis) Loaded & Rolling (Enterprise Fleet News/Analysis) Trending Now. Ocean Cargo ...
Port of Boston connects the globe, battling back against fraud and liquor logistics – WTT. Now on demand on WHAT THE TRUCK?!? Dooner is joined by Port of Boston’s Lauren Gleason; Highway’s Jordan Graft and A. Duie Pyle’s John Luciani.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 …Jul 21, 2023 · 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, some of Yellow’s ... 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. mackenzie scott open call30 year annuity rateshow to open a paper trading account with td ameritradesemtech stock 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 ...Family-owned Art Mulder & Sons ceased operations in November. An online auction is slated for Tuesday to sell the assets of family-owned Art Mulder & Sons Trucking (AMST) of Holland, Michigan. The move comes two months after the refrigerated less-than-truckload (LTL) carrier ceased operations in late November after more than 50 years. top rated gold stockspractice trading stocks 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.Michigan trucking fraudster sentenced to 17 years for $40M Ponzi scheme. Franklin Ray was sentenced to 212 months in federal prison for his role in multiple fraud schemes, including bilking investors out of $40 million in a truck investment venture. Read More ». FreightWaves Staff Wednesday, November 29, 2023. cheapest motorcycle insurance az The watershed moment in trucking-related nuclear verdicts came in 2011, when a jury in Cobb County, Georgia, awarded $40 million in a wrongful death suit, according to the American Transportation Research Institute. (Photo: Jim Allen/FreightWaves) On Feb. 27, 1992, Stella Liebeck ordered a 49 cent cup of coffee from a McDonald’s drive-thru in ...This fireside chat recap is from FreightWaves’ Net-Zero Carbon Summit on Thursday. FIRESIDE CHAT TOPIC: Revolutionizing procurement to decarbonize trucking. DETAILS: Rik Arends, director of the Sustainable Freight Buyers Alliance (SFBA) at Smart Freight Centre, explains the importance of collaborative efforts between customers and …Web