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The heart of the Haslam complaint — filed as an action by Pilot Corp. — is that in violation of an earlier agreement, Berkshire Hathaway, upon taking control of Pilot Travel Centers (PTC), switched its accounting to a “pushdown” method. Haslam says this is reducing the value of Pilot, which would impact what Berkshire Hathaway would pay ...Craig Fuller is CEO and Founder of FreightWaves, the only freight-focused organization that delivers a complete and comprehensive view of the freight and logistics market. FreightWaves’ news, content, market data, insights, analytics, innovative engagement and risk management tools are unprecedented and unmatched in the industry.5 min. Transportation prices fell in February at the fastest rate recorded in the six-and-a-half-year history of a monthly survey of supply chain executives. The Logistics Managers’ Index (LMI) registered a reading of 36.1 for transportation costs in February, 5.9 percentage points lower than in January and below the prior record, which was ...View our truckload freight indexes or learn more about the future of truckload freight. FreightWaves Staff Tuesday, November 21, 2023 Could J.B. Hunt, …

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%. 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 ...Trucking companies rejected unusually high amounts of freight in 2021. Around 27% of all contract freight was getting rejected last spring. Even in late December 2021 and early January 2022, the rejection rate was more than 20%. The spike in spot rates meant more capacity on the small trucker side.

9 min. Less-than-truckload carrier Yellow Corp. announced Tuesday that it has filed a $137 million breach of contract lawsuit against the International Brotherhood of Teamsters for blocking proposed changes to modernize how the carrier operates. Yellow ( NASDAQ: YELL) said the union doesn’t have the authority to stop a proposed change of ...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 ...

Nov 27, 2023 · 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 ... Sep 25, 2023 · 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 from ... 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 ...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.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 headlines written by FreightWaves during the past 3 months. Ground News rates FreightWaves’s media bias as unknown.

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 ...

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 ...

3 min. Lessons From Across the Pond and The Passenger Ground Transportation Industry. Share. Watch on. On this week’s episode of Taking the Hire Road, Jeremy Reymer, founder of DriverReach, is joined by Simon Curtis, CEO of Career Driver as well as founder and director of Curtis Gabriel, a leading digital marketing agency based …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.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.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 to diversify their logistics networks. This aligns with the white paper’s findings, which reveal a heavy reliance on over-the-road trucking, used by 87% of survey participants.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. FreightWaves …

The freight market is suffering from very challenging conditions and few dispute that the freight market is in recession. The root cause of the current freight recession has been the imbalance of supply and demand. According to SONAR’s Outbound Tender Volume Index, or OTVI, freight volumes are currently up 16% over 2019 levels.Oct 28, 2023 · Freight boom is not without downsides for carriers. One of the results of the 2017-18 freight market boom was an increase in the cost of operating that held over into a slower 2019 when capacity became abundant. Costs are on the rise once again as carriers struggle to find drivers to capture market share. Read More ». View our truckload freight indexes or learn more about the future of truckload freight. FreightWaves Staff Tuesday, November 21, 2023 Could J.B. Hunt, …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.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 …

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).

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 ... 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.WebThe Company is shutting down its regular operations on July 28, 2023, closing and/or laying off employees at all of its locations, including yours (the ‘Shut Down’).”. The company on Friday morning laid off an unknown number of office employees, most of which were nonunion. It said in a memo to the laid-off employees that it was unable to ...F3: Future of Freight Festival | Nov. 7-9, 2023. Join us in Chattanooga, TN for a festival like no other!Oct 18, 2023 · 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 ... 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 headlines written by FreightWaves during the past 3 months. Ground News rates FreightWaves’s media bias as unknown.Nov 16, 2023 · 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 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. FreightWaves …

Of the 135 total markets, 75 reported weekly increases as freight demand stirs across the country. Volumes are up in the majority of Texas’ markets. Freight demand in Dallas, the third-largest market in the nation by outbound volume, is up by 4.6% w/w. Freight volumes in McAllen, an important cross-border market with Mexico, are up 28% w/w.

Sep 25, 2023 · 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 from ...

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 ...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 ... 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 ...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.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 ...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.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 ...In those years, the freight transportation market has enjoyed prosperous times and periods of pain and misery. The freight market undergoes boom-and-bust cycles, like all commoditized industries. FreightWaves SONAR correctly predicted the start of a drop in the freight market in March 2022. Since then, the overcapacity spurred by the pandemic ...John Kingston. · Monday, October 23, 2023. The bad guys in cybersecurity are getting bolder and that was the subject of the NMFTA conference in Houston. (Photo: Jim Allen/FreightWaves) Listen to this article. 7 min. HOUSTON — One hundred and seventy five million dollars. That’s the figure Shelly Thomas of the cyber practice at …Parcel delivery is a cost-effective, efficient, and fast option for businesses shipping items up to 150 pounds. And, unlike freight shipping, packages are delivered directly to a residential or business address. Check back here for the latest parcel freight industry news. Mark Solomon Wednesday, November 15, 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.

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 ...The company’s (NYSE: FDX) first fiscal quarter results, released late Wednesday, demonstrated the benefits of the cost cuts. FedEx’s adjusted diluted earnings per share of $4.55 came in well ahead of consensus of $3.73 -$3.77 a share. Operating income, net income and operating margins rose well above levels of the prior fiscal year’s ...WebSamsung overtook Apple to secure the top spot in smartphone shipment volumes during the first quarter of 2023. Samsung overtook Apple through a slender 1% lead to secure the top spot in smartphone shipment volumes during the first quarter o...Instagram:https://instagram. forex automationtesla powerwall dollar500 rebatevanguard visis beagle legit 401k Truckload carrier’s operating loss deepened in Q1 to nearly $30M. John Kingston. · Thursday, May 11, 2023. U.S. Xpress has laid off about 125 workers. (Photo: Jim Allen/FreightWaves) Listen to this article. 6 min. U.S. Xpress, on the verge of being acquired by Knight-Swift, recently laid off about 150 employees as its earnings report filed ... barbie stocksautomotive stocks 6 min. Air Transport Services Group, a diversified provider of cargo aircraft and transportation services, has fired CEO Rich Corrado and replaced him with Joe Hete, the current chairman of the board who previously ran the company for 17 years. The announcement late Monday afternoon coincided with the company’s publication of third … block chain companies 5 min. Transportation prices fell in February at the fastest rate recorded in the six-and-a-half-year history of a monthly survey of supply chain executives. The Logistics Managers’ Index (LMI) registered a reading of 36.1 for transportation costs in February, 5.9 percentage points lower than in January and below the prior record, which was ...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.Domestic 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.