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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. The two ways shippers could purchase trucking capacity were through contracts or the spot market. Until now. FreightWaves has introduced index-linked contracts as a third option for trucking capacity. Currently, 30 shippers — large consumer-brand companies — are in various stages of implementing this new product.Meanwhile, spot rates in America’s $800 billion trucking industry have collapsed in 2022. According to the FreightWaves National Truckload Index, spot rates have declined by nearly 33% from the beginning of this year to the beginning of October. Meanwhile, the costs to run a trucking company, particularly fuel spending, have only …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 ...

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 ...Six months later, U.S. Xpress was sold to Knight-Swift. Knight-Swift’s stock price has been largely flat to down since the acquisition. It was about $56.70 per share at the time of the deal and closed Friday at $55.75. Disclosure: FreightWaves founder and CEO Craig Fuller had retained ownership of U.S. Xpress shares through his family trust.

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 ... Brokers and 3PLs began with a lower sentiment of 9.84 in Q4 2022, which dipped further in Q1 2023 to 6.97. Their sentiment saw a fluctuation, climbing to 9.39 in Q2 2023 and peaking at 12.55 in Q3 2023, indicating a resurgence of confidence, before descending again to 8.78 in Q4 2023.

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.Web18 min. Yellow, the third-largest trucking company in the less-than-truckload sector, filed for bankruptcy on Aug. 7. Now its former competitors are in a bidding war for its terminals and trucks. The company’s collapse put some 30,000 employees out of work, including 22,000 Teamsters members. That’s an uncomfortable reality for those ...FMCSA granted the trucking company’s operating authority in September 2019. Navarro Trucking Group filed its petition in the U.S. Bankruptcy Court for the Central District of California on Oct. 13. In the filing, Navarro, which also hauled refrigerated food and fresh produce, lists assets of $500,000 to $1 million and liabilities up to $10 ...WebA 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.

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.

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].

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 ...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 …WebIn 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.This week in Borderlands: A stronger Mexican peso could pose challenges for U.S.-Mexico trucking; Tesla seeks $100 million to build Semi truck charging stations; …Class 8 truck orders hit their highest level in six months in August. (Photo: Jim Allen/FreightWaves) Preliminary net Class 8 truck orders reached 19,000 units in August, 9% below a year ago. But they were the highest in six months. Bookings should begin to rise in September as the 2024 order season accelerates.

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 ...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.The battle over whether to allow heavy-duty autonomous trucks on highways in California is coming to an end. It would be premature to call the outcome, but Gov. Gavin Newsom is lining up behind advanced technology over organized labor. Both are major constituent groups of the Democratic governor. Assembly Bill 316 would effectively …Oct 18, 2023 · 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. 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’ price, demand, and capacity data allow customers to benchmark, analyze, monitor, and forecast the global physical economy. Without logistics, the supply chains that keep ...WebMar 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 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 data and actionable intelligence.

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 ...

Any of these three agencies may create new rules and regulations for general freight trucking throughout the year. In addition, states can also issue their own general freight trucking regulations. View our truckload freight indexes or learn more about the future of truckload freight.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 ...Nov 14, 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. 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.Why I believe a freight recession is imminent. Craig Fuller, CEO at FreightWaves. · Thursday, March 31, 2022. Listen to this article. 11 min. Last week, I published an article entitled “ Just 3 years after 2019’s …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: …Borderlands is a weekly rundown of developments in the world of United States-Mexico cross-border trucking and trade. This week: Mexico’s truckers plan nationwide strike, blockades; $142B announced for Texas transportation infrastructure; Fresh Del Monte Produce moving to Port Freeport; and border airport adds commercial cargo operations.5 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.3 min. The two ways shippers could purchase trucking capacity were through contracts or the spot market. Until now. FreightWaves has introduced index-linked contracts as a third option for trucking capacity. Currently, 30 shippers — large consumer-brand companies — are in various stages of implementing this new product.

Oct 15, 2023 · 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 ...

Uber Freight works with Aurora Innovation and Volvo Autonomous Solutions. It recently signed a 10-year agreement with Waabi, a newer entry to the Level 4, high-autonomy space, to schedule loads on its digital freight network. Before Waymo Via put its autonomous trucking business into hibernation, Uber Freight had big plans with them, too.

Trucking and logistics companies are seeing a massive downturn. FreightWaves has reported on the biggest shutdowns and layoffs since 2022.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. Trucks generally aren’t the cheapest vehicles on the market. In fact, you’ll often find yourself looking at a price tag of at least $30,000 for a new or lightly used truck with the latest features.6 min. A predictive rate index released Tuesday showed truckload pricing “tumbling” further in the second quarter while less-than-truckload rates stabilize from a “sharp drop” in the first quarter. The TD Cowen/AFS Freight Index — a compilation of data from third-party logistics provider AFS Logistics and investment bank TD Cowen ...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 …WebNov 29, 2023 · Judge orders Ray to forfeit more than $42 million and assets that include a 1968 Chevy Camaro. Clarissa Hawes. · Wednesday, November 29, 2023. Former trucking company owner Franklin Ray, 52, of Canton, Michigan, was sentenced to more than 17 years in federal prison for his role in a $40 million Ponzi scheme. (Photo credit: Jim Allen/FreightWaves) 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 …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 ...WebJun 22, 2023 · 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 ... Trucking 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 …

Class 8 truck orders hit their highest level in six months in August. (Photo: Jim Allen/FreightWaves) Preliminary net Class 8 truck orders reached 19,000 units in August, 9% below a year ago. But they were the highest in six months. Bookings should begin to rise in September as the 2024 order season accelerates.7 min. On July 7, Yellow ( NASDAQ: YELL) narrowly avoided bankruptcy for the fifth time since 2009. The potential for collapse is still looming, though. That’s scaring some customers off, according to three brokers and two industry experts interviewed by FreightWaves. Recent notes from investment banks like Bank of America and Stifel have ...WebUnless there is an acceleration in revocations (i.e. trucking companies shuttering their authorities), FreightWaves models suggest the trucking market has 78 weeks to go before capacity is back in balance with historical trends. ... FreightWaves’ news, content, market data, insights, analytics, innovative engagement and risk …WebInstagram:https://instagram. dividends for fordtrusted investment companiesalexandria real estate stockvdhg Unless there is an acceleration in revocations (i.e. trucking companies shuttering their authorities), FreightWaves models suggest the trucking market has 78 weeks to go before capacity is back in balance with historical trends. ... FreightWaves’ news, content, market data, insights, analytics, innovative engagement and risk …WebPhoto: Jim Allen/FreightWaves. An online auction is slated for Tuesday to sell the assets of Minnesota-based Twin Express Inc., which had a reported 72 power units and 73 drivers, after the trucking company defaulted on a $19 million loan. The move comes nearly three months after Judge Jamie L. Anderson in Hennepin County District Court in ... best mortgage lenders in ohio for first time buyerswhere to invest 100k in 2023 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]. mirati therapeutics stock 4 min. Less-than-truckload carrier Yellow Corp. sent a letter to President Biden on Thursday asking for help negotiating with the Teamsters. The letter said the company is “on the verge of closing its doors due to an ongoing, intractable labor dispute with the International Brotherhood of Teamsters (IBT).”.WebAccording 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.