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. #1 Logistics, Freight and Transportation News - FreightWaves Heartland executives used the UBS transportation conference to boast about the success of the companys driver pay protection program. 2022 Driver Pay Guide - FreightWaves Ratings Transport company RXO, coming off a solid performance in its first quarter as a stand-alone entity, is positioning ourselves for the inflection, according to CEO Drew Wilkerson. Andrew Cox and Anthony Smith discuss stagnate indices and carriers [], In the Carrier Update presented by PowerFleet, Zach Strickland talks about disruptions caused by the latest hurricane to hit the gulf, and Andrew Cox discusses consumer spending in the DHL []. Long-term pricing trends dont budge much, a LOral executive says. Marten Transport had a mostly steady quarter, with some improvements and some softness. Reefer markets: Coin-flip compliance prevails, Taiwan semiconductor shortage remains type-A issue, Asset operators: Its good to be a trucker, Shippers facing nightmarish game of chicken on the ocean, Intermodal volume begins to dig out while network challenges remain. Freight consultant Chris Jolly and Shannon Breen of FreightVana discuss strategies to help transportation companies develop long-term relationships with clients. Click On The Logos Below To Learn More About The Companies, The Future of Logistics Real Estate Summit, Executive Director and Chief Logistics Officer, Director, Head of International Transportation. Most recently, the company introduced a new email feature helping brokers write emails. Werner Enterprises CEO said Tuesday that the worst of the cycle is in the rearview and that he will remember which shippers stood by the company during the recent freight recession. On todays FreightWaves NOW, Zach Strickland discusses van and reefer capacity diverging on the Carrier Update presented by Powerfleet. Perch is a leader in a burgeoning segment of e-commerce: Amazon aggregators. Global Supply Chain Week - FreightWaves Copyright 2021 | FreightWaves, Inc. | All Rights Reserved, Copyright 2020 | FreightWaves, Inc. | All Rights Reserved, Mo inflation, mo problems for CPG companies, Retail disruption and K-shaped recovery highlight importance of freight data, Not easy being green: Finding truckloads to convert to intermodal when the low-hanging fruit is already picked, Smaller fleets leading the charge in terms of industry growth. Trucking executives are hopeful the first half of 2023 brings a cycle recovery. (This index measures departing container volumes at the port of origin). Ive just subscribed some news from the link, excited to get the news updatehave a great day:))). Cant wait for the next one to drop. googletag.pubads().enableSingleRequest(); While late March through the beginning of May is historically (pre-trade war/pre-pandemic) a softer period for volumes on this trade lane, it is important to realize that this decline in volumes has also been amplified by the COVID restrictions and lockdowns implemented by the Chinese government in Shanghai as well as other important manufacturing regions in China (most notably around Beijing and its major nearby port of Tianjin). F3: Future of Freight Festival 2023 | Global Freight Conference googletag.cmd.push(function() { Zach Strickland discusses tightening reefer markets in the Carrier Update presented by PowerFleet, and Michael Vincent talks to shippers. Daseke said Monday that supply constraints and cost inflation will again push flatbed rates to new highs in 2025. Join us for the biggest virtual freight conference of the year, with an extended lineup of amazing speakers and innovative companies planned. Truckload rates will continue falling at a steep rate in the second quarter while less-than-truckload rates level, a report from a large 3PL asserts. }); googletag.cmd.push(function() { googletag.cmd.push(function() { Data published Monday from freight payments provider Cass says the industry may be close to entering a new cycle. Zach Strickland highlights another rise in rejections across the U.S. in the Carrier Update presented by PowerFleet and Michael Vincent discusses holiday season volatility in the Shipper Update. From global economic lockdowns and cancellations to historic port congestion as 100% of capacity is reached, international maritime trade has seen it all in a short period of time. Thursday, April 29, 2021 0 The pandemic has sent the retail industry on a K-shaped trajectory the final straw that has sent many retail. window.googletag = window.googletag || {cmd: []}; Before joining FreightWaves in 2022, Rachel was a senior features reporter at Business Insider. In a first-quarter earnings preview, Deutsche Bank analyst Amit Mehrotra said he expects an in-line type quarter but voiced some concerns. googletag.cmd.push(function() { Zach Strickland brings you the Carrier Update presented by PowerFleet. We never got a notice in the mail. Volume declines ate into TFI Internationals revenue in the second quarter. Prior to that, Rachel was a journalist in Seoul, South Korea. Approximately 23,000 of those workers are represented by the Teamsters, according to its Monday bankruptcy filing. googletag.enableServices(); Teamsters voting on UPS contract could conclude Tuesday - Yahoo Finance And his employee portal access was shut down. Kevin welcomes Ryan Schreiber, CGO, of Metaphora on the show to talk about the latest trends in freight sales.#sales #PutThatCoffeeDown #marketing #freightsales #freightwaves #sonarFollow the Put That Coffee Down PodcastOther FreightWaves ShowsLearn more about your ad choices. DATs breach-of-contract claim against Convoy will also proceed. U.S. Xpress has laid off about 150 staffers and reported a hefty loss to the SEC. window.googletag = window.googletag || {cmd: []}; Zach Strickland examines a bounce back in rejection rates after a 10-day drop in the Carrier Update presented by PowerFleet, and Andrew Cox discusses the most recent quarterly shipper survey [], Zach Strickland takes a look at the attention the large markets are getting in the Carrier Update presented by PowerFleet. 4 min read Yellow Corp. will file bankruptcy according to the International Brotherhood of Teamsters. Pam Transportation Services reported a sharp decline in earnings during the second quarter. Truckload carrier Heartland Express missed fourth-quarter expectations Friday. }); Unfortunately, inflationary pressures in energy and food dont know or care that American consumers are out of money inflation in those sectors was caused by supply shocks, not artificially stimulated demand. FreightWaves (@FreightWaves) / Twitter Yellow revealed in a Monday bankruptcy filing that it would seek $92.9 million to pay outstanding PTO. Kevin Hill and Anthony Smith dive into which markets are showing tightening capacity in the Carrier Update presented by PowerFleet, Luke Falasca examines where volumes are beginning to gain steam [], Zach Strickland delivers the Carrier Update presented by PowerFleet, Luke Falasca talks to brokers about truckload volume levels across the U.S., and Andrew Cox analyzes consumer spending now that stimulus [], Zach Strickland examines where volumes are increasing for a second day straight in the Carrier Update presented by PowerFleet, Luke Falasca dives into which areas are slightly rising in volumes [], Zach Strickland examines howOntario, California, is accelerating recoveryin the Carrier Update presented by PowerFleet, Luke Falasca dives into how theHarrisburg, Pennsylvania, market is performing better year-over-yearin the Broker Update, andMike [], Zach Strickland examines a decline in market volatility in the Carrier Update presented by PowerFleet, Luke Falasca dives into the Allentown, Pennsylvania, and Ontario, California, markets in the Broker Update, [], Zach Strickland identifies volume increases in several key markets in the Carrier Update presented by PowerFleet and Andrew Cox discusses record drops in key economic data sets with Anthony Smith [], Zach Strickland shows which markets are going down and which markets are bouncing back up in the Carrier Update presented by PowerFleet, and then on the DHL Supply Chain Pricing [], Zach Strickland details a further decline in volumes in the Carrier Update presented by PowerFleet, Luke Falasca discusses changes in several markets across the country in the Broker Update, and [], Zach Strickland examines a dramatic loosening in capacity in the Carrier Update presented by PowerFleet, Luke Falasca highlights a year to date low for tender rejections in the Broker Update, [], Zach Strickland discusses import volumes in the Carrier Update presented by PowerFleet, Luke Falasca discusses a slow down in the fall of volumes and rejections in the Broker Update, and [], Zach Strickland discusses a drop in volumes before diving into the El Paso, Texas, and Atlanta, Georgia, markets in the Carrier Update presented by PowerFleet, Luke Falasca examines year over [], Zach Strickland shows which markets have been resilient this week in the Carrier Update presented by PowerFleet, Luke Falasca talks about freight volumes being at their lowest levels in three [], Zach Strickland looks at how market load balances are impacting capacity in the Carrier Update presented by PowerFleet, Luke Falasca talks about looking to reefer rejections in key markets for [], Zach Strickland looks at volumes dropping unevenly within the freight market in the Carrier Update presented by PowerFleet, then in the Rail and Intermodal Update, Mike Baudendistel and Anthony Smith [], Zach Strickland looks at volumes dropping along with tender rejections across the U.S. in the Carrier Update presented by PowerFleet, and in the Shipper Update, Andrew Cox and Anthony Smith [], Zach Strickland looks at van outbound tender rejection rates falling rapidly in the Carrier Update presented by PowerFleet, Luke Falasca talks about volume levels almost reaching seasonal norms, and then [], Zach Strickland looks at the market volatility map in the Carrier Update presented by PowerFleet, and Andrew Cox brings us the DHL Supply Chain Pricing Power Index. Its just disappointing you would think a big company like that would at least notify you that you dont have a job anymore.. Alterna Equity Partners announced Wednesday the acquisition of waste and industrial materials carriers Attaway Hauling and Choice Bulk Carriers. Multimodal provider Schneider National reeled in its 2023 earnings outlook by roughly 13% on Thursday. Services and tech companies will also be under pressure in the coming months, and sell-offs could lead to layoffs. She said she learned she was out of a job from a piece of paper taped to a stop sign at her terminal stating company operations had ceased. I missed the autocorrect. Knight-Swift Transportations 2023 outlook comes in as expected, potentially establishing a higher earnings trough for the carrier. Truckload carrier Marten had a first quarter in which it drove more miles than last year but made less money. FreightWaves - Facebook FreightWaves State of Freight for July focused on a potential Yellow shutdown and a looming strike at UPS. Meanwhile, Michael Vincent looks at the outbound/inbound market ripple effect in the Shipper Update. A confluence of events, including Russias invasion of Ukraine and the resulting fuel embargoes, have rejiggered the global supply chain, says John Harms of Brown Brothers Harriman. Yellow fought until the end to save employees jobs. In last weeks Passport intermodal weekly, we discussed the very visible impact that the snowstorm in the central states was Research built for present and future c-suite executives. November 5-6, 2020 // Virtual Event. The organization noted that it would support members through the bankruptcy proceedings. Perch recently brought on Wayfair alum John Esborn to build out its ocean transport division. Flatbed hauler Daseke said its trucks remain booked solid and that it will look to use cost and efficiency initiatives to improve results again in 2023. His experience includes leadership roles within multiple 3PLs that each possessed different operating models in the domestic and international markets. Zach Strickland highlights climbing volumes in the Carrier Update presented by PowerFleet, and Andrew Cox discusses blank sailings with Anthony Smith in the Shipper Update. We went to work and saw the gates locked. I guess all that vacation time and sick pay we didnt use just evaporates 34.6K Followers. Credit card spending has been accelerating at a time when personal savings rates have continued to decrease and move toward some of their lowest rates (last reading 4.4) since the Great Financial Crisis (4.5 in August 2009). googletag.pubads().enableSingleRequest(); Trucking company Rapid Response has been sold to its employees, investment banking firm ButcherJoseph announced Friday. TFI International reported first-quarter revenue declines in all four main operating segments. googletag.enableServices(); She created the trucking beat at Business Insider, and has appeared on ABC News, NBC Nightly News, The Today Show, France24, and other major outlets to discuss her coverage. Morgan Stanley said trucking fundamentals could be bottoming in a Monday note to clients while Susquehanna called it quits on several stocks. In just a few short months, FreightWaves will host its biggest event yet, F3: Future of Freight Festival, packed with world-renowned speakers, educational sessions, award-winning musicians and. Excuse me on my last comment: I was addressing Yellow employee not Yellow employment. Check out all of our newsletters here: https://www.freightwaves.com/subscribe, If you have any issues, please dont hesitate to reach out to our support team here: https://www.freightwaves.com/contact, My dear friend, thank you so much for your reply and giving me the link! Home / News / Trucking / Truckload Freight Truckload Freight Stay Up to Date on the Truckload Industry Truckload shipping refers to the movement of freight in the amounts necessary to fill an entire semi-truck or intermodal container. We're taking it virtual! . IBT leadership is solely responsible for destroying 30,000 jobs, the spokesperson said. Freight broker Landstar System sees a big earnings falloff from the all-time high established a year ago. Consecutive rounds of COVID lockdowns in China only exacerbated those fears, but after the war between Russia and Ukraine broke out more than 100 days ago, the geopolitical risks seem to only be escalating, and for better or for worse, companies decided that they would rather have the inventory safely here in the U.S. than risk having it abroad should there be a sudden surge in consumer demand. Sr. Retail Analyst Andrew Cox highlights the 2022 FreightWaves FreightTech Top 100. The second annual F3: Future of Freight Festival will be held in Chattanooga, The Scenic City, this November. Our members loss of work at Yellow was no fault of their own. Working within these varying 3PL models allowed him to see and understand the strengths and pitfalls of each, and where there is still opportunity for improvement within each industry. A Tuesday report from Cass Information Systems showed freight shipments in January were flat with December on a seasonally adjusted basis. When will a more substantial correction be posted? googletag.pubads().enableSingleRequest(); Virtual Live Logistics Events & Freight Conferences | FreightWaves Walter Kemmsies, a prominent economic and strategic advisor to the public and private sector, will discuss supply and demand dynamics, infrastructure challenges, and other factors behind the ocean freight slowdown, as well as what could make the situation better or worse in the next year. Robinson, Uber Freight and Convoy have all cut staff in recent months. The outgoing head of U.S. Xpress is joining a Chattanooga, Tennessee-based nonprofit that focuses on sustainable mobility entrepreneurs. Meanwhile, the Teamsters wrote in a statement on Sunday that Yellow abandoned its entire workforce with its Chapter 11 filing. Hes here to talk about the job market for supply chain employees, whats good at CDL1000, marketing tips and the power of supply chain meetups.Plus, tender rejects reach yearly highs; Cruises rough ride in San Francisco; how merging works; how not to use hammocks; and a terrible way to fix a hole in a wall.Watch on YouTubeVisit our sponsorSubscribe to the WTT newsletterApple PodcastsSpotifyMore FreightWaves PodcastsLearn more about your ad choices. Freight forwarders will enjoy expanding margins on ocean freight, while U.S. trucking carriers and intermodal volume providers may start to see volume risks. More than half of the Inc. 5000 companies in Chattanooga this year are freight brokers, but others such as Freightwaves, Workhound and Reliance Partners serve the trucking and logistics. Business gain new appreciation for outsourcing post-COVID, DDC FPO executive says. Werner Enterprises has built a model to perform on the downside of the cycle. googletag.defineSlot('/21776187881/FW_Super_Leaderboard', [[300, 50], [970, 90], [300, 100], [728, 90]], 'div-gpt-ad-1668097889433-0').defineSizeMapping(gptSizeMaps.banner2).addService(googletag.pubads()); Carrier Pam Transportation saw margin pressure in the fourth quarter as peak season didnt materialize. Truck driver William Stephens is one of those laid-off employees represented by Teamsters. Goods-producing companies will not be alone. If rates start dropping quickly, it is reasonable to suspect that the ocean carriers that have not locked in a majority of their allocations in longer-term contracts may begin aggressively undercutting one another as they compete in the spot market. Teamsters estimates that, since 2009, its members have given away more than $5 billion in wage and benefit concessions to support Yellow. FreightWaves is a price reporting agency (PRA) focused on the global freight market and the leading provider of high-frequency data for the global supply chain. Daseke pulled in its full-year 2023 outlook on Tuesday as the freight market has failed to yield normal springtime demand improvements. googletag.defineSlot('/21776187881/fw-responsive-main_content-slot2', [[468, 60], [728, 90], [300, 100], [320, 50]], 'div-gpt-ad-1665767472470-0').defineSizeMapping(gptSizeMaps.banner1).addService(googletag.pubads()); This freight podcast has quickly risen to "must-listen" status in the world of freight. Its been over three weeks now. Consumer buying patterns are rapidly normalizing to pre-COVID levels, and U.S. retailers are stuck with too much inventory. Tai has been working on email improvements utilizing AI and machine learning for over three years now. They should be the first in line for real relief as bankruptcy moves forward, said John A. Murphy, Teamsters national freight director. FreightWaves Kevin Hill and Teclo Garcia, economic development director for the city of Laredo, discuss supply chain bottlenecks during FreightWaves Global Supply Chain Week. Top 18 Freight Podcasts to Subscribe to Now - SONAR She writes the newsletter MODES. TFI posted in-line fourth-quarter EPS. 1 min read Outcome of UPS contract could be announced Tuesday (Photo: Jim Allen/FreightWaves) The Teamsters union said it plans to conclude by midafternoon Tuesday. Trimac Transportation said Thursday it has completed the acquisition of AIP Logistics. Now some industry observers are calling for a container surge as China reopens, but it seems that the demand destruction has already spilled over into this trade lane in a big way. googletag.pubads().collapseEmptyDivs(); Freight booking platform Freightos is working to reduce its cash burn as it continues to grow and add new products. Any of these three agencies may create new rules and regulations for general freight trucking throughout the year. Loaded & Rolling (Enterprise Fleet News/Analysis). googletag.pubads().enableSingleRequest(); Zach Strickland discusses a continuing surge in outbound tender volumes in the Carrier Update presented by PowerFleet and Mike Baudendistel discusses the latest Rail and Intermodal Update with Anthony Smith. PS Logistics said Tuesday it has acquired Jacksonville, Florida-based truckload carrier and broker Rinaudo Enterprises. Zach Strickland discusses a disruption in national reefer capacity in the Carrier Update presented by PowerFleet and Andrew Cox discusses new truck orders with Anthony Smith in the Shipper Update. googletag.pubads().enableSingleRequest(); googletag.cmd.push(function() { Demand for 3PL services to handle last-mile shipments of heavy goods will grow by double digits annually through 2025, according to a report by Armstrong & Associates and the National Home Delivery Association. googletag.cmd.push(function() { Dcouvrez comment nous utilisons vos donnes personnelles dans notre Politique de confidentialit et notre Politique relative aux cookies. While this has been a welcome downturn in spot rates for shippers that battled the record-setting spot rates of 2021, we should also keep in mind that these spot rates remain elevated on a y/y basis (73% to the West Coast and 59% to the East Coast). }); Stay Up to Date on the Truckload Industry gptAdSlots.push(gptSlot); Visit megaphone.fm/adchoices, Check Call EP87 Detention Dilemma Decoded: Navigating Efficient Shipper-Carrier Partnerships, In this episode we delve into the intricacies of detention times and how they impact the delicate balance between shippers and carriers. Visit megaphone.fm/adchoices, The Stockout EP85 Freight service standards rise as retailers promote convenience, FreightWaves Mike Baudendistel discusses last weeks retail earnings and interviews Guillermo Garcia, Co-Founder and CEO of SmartHop, a fleet management software company.Follow The Stockout PodcastOther FreightWaves ShowsLearn more about your ad choices. OceanWaves examines the processes, procedures, and technology that have all been created on the fly during this crisis to address not only the capacity crunch the world is seeing today, but also the long-standing challenges that maritime trade has dealt with for decades. We have multiple newsletters you can subscribe to for consistent updates. All of that has led to sustained volatility, and it is not abating anytime soon. Harry Broadman said during a presentation at FreightWaves' F3: Future of Freight Festival that technology can create jobs, just not the same type of jobs. Shippers are seeing relief in freight costs for the first time in more than two years, according to the December Cass Freight Index. googletag.pubads().collapseEmptyDivs(); This could easily change within our bookings data for the weeks ahead, and if there is pent-up demand, it will undoubtedly show up in the bookings data, but as of Tuesday, it has not yet materialized in any significant way. In the Carrier Update presented by PowerFleet, Zach Strickland notes that the freight market softening, and in the Broker Update, Luke Falasca shows that tender rejections are holding. Yellow wrote in its separation agreement dated July 28 that laid-off employees would receive payment for unused vacation [a]s soon as administratively practicable.. Covenant Logistics Group missed fourth-quarter expectations even when excluding expenses incurred onboarding equipment. These use to entertaining and interesting, what happened?!? There are two ways to read very low savings rates: either consumers are exceptionally confident and exuberantly spending their money or consumers are spending every last dollar they have in an attempt to keep their heads above water in a high-inflation environment. 2022 Driver Pay Guide Take a look at the top paying trucking companies state by state. Has the global container market had you saying WTRATES?! Sadly, Teamster leaders did not care enough about Yellows union employees to discuss their contract until after the IBT had driven away all business and it was too late. Trappers Transport announced Wednesday it has acquired Plett Trucking in a deal that combines two Winnipeg, Canada-based temperature-controlled transportation and logistics providers. The pandemic has sent the retail industry on a K-shaped trajectory the final straw that has sent many retail With shippers ramping up sustainability efforts, the conversion of truckloads into intermodal units seems like a natural place to start. Last week we took an in-depth look at capacity and what a mosaic was saying about how the supply side What are the chances that this deal gets approved? Gordon Downes, CEO of the New York Shipping Exchange (NYSHEX), speaks with Patrick Duffy, President of the Blockchain in Transport Alliance (BiTA), about the challenges facing stakeholders on both sides of the ocean shipping marketplace shippers and ocean carriers. Andrew Clarke, the ex-C.H. Lean Solutions Group is seeking to revolutionize the way the U.S. logistics industry operates by providing staffing and nearshoring services in South America. Temperature-controlled carrier R.E. FourKites Glenn Koepke discusses how technology combined with different capacity strategies can help supply chains stay resilient during these harsh conditions. FreightWaves SONAR's price,. 62 were here. Truckload carrier Heartland Express reported worse-than-expected second-quarter results on Monday. Bank of America analyst Ken Hoexter now has a buy rating on most of the truckload carriers he follows. The biggest semiconductor shortage in history is rippling through global supply chains (and has been for months now). From what I can see, they are doing little more than milking the clock until somebody at corporate figures out that they arent doing anything and tells them to terminate themselves. 10/6/21 9:35 am Lars Jensen and Kevin Hill discuss how the bullwhip effect for ocean carriers started during the abyss of the pandemic and is still reverberating through supply chains. Bankrupt trucking company Yellow has struck a deal to sell its real estate to rival Estes Express Lines for a minimum of $1.3 billion, enough to roughly cover the loans the company accumulated . As of the latest data points, if this is the container surge from Shanghai to U.S. ports upon its reopening last Wednesday, then right now, it is barely a blip on the radar compared to the volumes from Shanghai to the U.S. that what we have seen over the last 18 to 22 months. FreightCasts on Apple Podcasts Zach Strickland talks about capacity on the coasts in the Carrier Update presented by PowerFleet, and Anthony Smith gives a macro update for shippers. Her reporting on the logistics industry has been featured in the New York Times, the Wall Street Journal, Bloomberg, Vox, and additional digital and print media. US import demand is dropping off a cliff - FreightWaves Now he is running the day-to-day operations as the third CEO in less than a year. He has spent most of his career working for domestic and international 3PLs right here in the heart of Freight Alley, in Chattanooga, TN. How much freight do the top 100 shippers in the U.S. control? Visit megaphone.fm/adchoices, WHAT THE TRUCK?!? Robinsons near-term outlook, arguing that the companys culture needs to change. Latest Headlines Railroad Port-bound rail volumes approach prestrike levels in Canada Gig Workers Minneapolis council OKs bill mandating minimum compensation for gig drivers Logistics/Supply Chains Spam joins recovery efforts in Maui WATCH FWTV IN HD SONAR High-Frequency Supply Chain Data Trucking Financial Ocean Rail Most recently, the trucking company received a $700 million loan from the U.S. Treasury in 2020 to avoid collapse.
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