FreightWaves

FreightWaves

One Long Trip: XPO Driver Achieves 4M Accident-Free Miles
Four million miles.
Covenant's Operating Numbers Mostly Hold Up in Challenging First Quarter
In what has been a difficult quarter for trucking companies, both truckload and to a lesser degree LTL, Covenant Logistics reported first-quarter operating earnings that held up relatively well. Covenant's adjusted earnings per share on a non-GAAP basis came in at 84 cents per share, down from 93 cents per share a year ago.
Knight-Swift Cutting Costs, Focuses on Asset Utilization
Knight-Swift Transportation (NYSE: KNX) said it is focused on reducing costs throughout the organization. That includes culling trailer counts, as well as tractor counts in some areas, to improve asset utilization.
Philadelphia CDL School Owner Sentenced to Prison for Licensing Scheme
A former CDL school owner in Philadelphia was sentenced to nearly five years in prison for bribing a CDL exam administrator to pass students who didn't take the exam. Vladimir Tsymbalenko, 53, who owned Vlad's CDL School, was sentenced to four years and nine months in federal prison and three years of supervised release by U.S. District Court Judge Jeffrey L. Schmehl.
Election-Year Politics Cuts Into Small-Trucker Priorities
Legislation and regulation affecting trucking is downshifting as the election year moves into full swing, but the most prominent lobby representing truck owner-operators is keeping the pressure on lawmakers and the administration to do right by its members. "The unfortunate reality is that this particular Congress is totally engaged in election season, and rather than focusin
EXO Closes Chattanooga Office to Focus on Managed Transportation Tech
Open-deck transportation marketplace EXO Freight closed its Chattanooga, Tennessee, office Tuesday, laying off 19 employees, including a few from its spot brokerage team in Royal Oak, Michigan, who were mainly operations-focused, co-founder and CEO Kurtis Tryber told FreightWaves. Tryber said it was an intentional move by the company to pivot from covering unprofitable spot market
US Postal Service to Migrate Air Cargo to UPS During Summer
The U.S.
Borderlands Mexico: U.S. Agricultural Imports from Mexico at $8B in 2024
Mexico recorded $9.06 billion in agricultural exports during the first two months of the year, according to the country's Ministry of Agriculture and Rural Development (SADER) and the Bank of Mexico. The total represents a 9% year-over-year increase from the same period in 2023. The U.S.
Benchmark Diesel Price Below $4 Again As War-Led Rally Fizzles
The benchmark diesel price used for most fuel surcharges is back below $4 a gallon. A decline of 2.3 cents a gallon from the prior week's number put the Department of Energy/Energy Information Agency price at $3.992. It's only the second time in the past 11 weeks that the price has been below $4.
Prologis Reports In-Line Q1, Slightly Trims 2024 Outlook
Logistics warehouse operator Prologis slightly lowered its 2024 guidance on Wednesday as it expects leasing activity to "stay competitive" in some markets.
Unifying Middle and Last Mile Can Deliver a Customer Experience Revolution
By Bart De Muynck The views expressed here are solely those of the author and do not necessarily represent the views of FreightWaves or its affiliates.
Borderlands Mexico: Experts Push Infrastructure to Boost Cross-Border Trade
Experts push infrastructure to boost cross-border trade MONTERREY, Mexico — With nearshoring accelerating trade growth between the U.S. and Mexico, experts said both countries need to focus on infrastructure, technology, policies and cargo security to keep goods flowing seamlessly.
Will Shein Help Propel Flexport's Future?
Global fashion retailer Shein's latest announcement on LinkedIn revealed that its U.S.
China E-Commerce Exports, Unreliable Red Sea Shipping Boost Air Cargo
Resurgent air cargo demand and rising rates, powered by the quasi-blockade of Red Sea shipping and continued growth in bookings by Chinese e-commerce platforms, during a normally slow shipping period is creating high expectations among air carriers for peak season and making logistics providers nervous about securing adequate capacity.  Air cargo demand has grown by double di
The Great Freight Recession Has Now Lasted Longer Than the COVID Bull Market
On March 31, 2022, FreightWaves declared that a freight recession was imminent. More than two years later, the freight market remains in one of its deepest and longest recessions in history. Our original conclusion was derived from signals from FreightWaves SONAR. Its high-frequency datasets, which track freight supply and demand in real time, indicated an imminent collapse.
Knight-Swift Slashes H1 2024 Expectation by More Than Half
Knight-Swift Transportation cut earnings expectations by 58% for the first half of the year on Wednesday, citing an oversupplied truck market, poor weather in January and a tough start to bid season. The company said adjusted earnings per share for the first quarter will range between 11 and 12 cents compared to a 39-cent outlook (at the midpoint of the guidance range) provided in
California Carrier and Freight Brokerage Ceasing Operations, Blames AB5
A family-owned trucking company and brokerage — California Intermodal Associates Inc. (CIA), headquartered in Commerce, California — is ceasing operations after nearly 25 years, citing the state's independent contractor law. CEO Gabriel Chaul said he recently notified customers that he is winding down operations.
Port of LA Opens Promenade to Connect Community to Waterfront
The Port of Los Angeles recently opened a waterfront promenade on its property, giving the nearby community unprecedented access to the water and sweeping views of the port's activities. The $77 million Wilmington Waterfront Promenade is the second phase of connecting the Wilmington community, located adjacent to the port, to the waterfront.
Scopelitis Seminar Delves Into Lease Purchase Deals, M&A, ESG and More
INDIANAPOLIS — The Scopelitis Transportation Law Seminar is a three-day parade of speakers and panels discussing everything from what states' license plates fleets should seek to slap on their trucks to the treatment of owner-operators whose trucks leave the road for maintenance.
CMA CGM Outsources New Trans-Pacific Service to Atlas Air
Ocean shipping giant CMA CGM's startup cargo airline has hired U.S.-based Atlas Air to provide crews for the launch this year of a trans-Pacific route with new Boeing 777 freighters that were not previously disclosed.