Freight

Over the last year, there has been a visible increase in the number of trucking fleets shutting down, owing in part to the sliding spot market prices and a general economic downturn, leaving thousands of drivers jobless. However, it is not just market conditions that contribute to such a fiasco....

Good day, Mobile carpooling service Scoop has raised $60 million at a $250 million valuation in a round led by Activate Capital, with participation from NGP Capital, BNP Paribas and Total Ventures.  The raise brings Scoop's total funding to $106 million.  Founded in 2015, the company works with...

Image Sourced from Pixabay

American Trucking Associations (ATA) praised the fact that 53-foot intermodal containers won't be subject to the next round of Section 301 tariffs on China. The Office of the U.S. Trade Representative deleted the goods from the next planned tranches of trade measures to take effect September 1 and...

Nigerian digital freight marketplace startup Kobo360 raised $20 million in a Series A funding round led by Goldman Sachs (NYSE: GS) while pocketing another $10 million in working capital financing from Nigerian commercial banks. Kobo360 is one of the most recognized FreightTech players in Africa,...

FreightWaves, the industry-leading provider of 24/7 news, data and analytics for the global freight and logistics markets, announces the start of the nomination process for the 2020 FreightTech 100 Awards. "The 2019 FreightTech 100 Awards were a great success," stated FreightWaves CEO Craig Fuller...

Trucking carriers continue to exit the market, citing a variety of reasons including the regulatory environment, low rates, inflated wages and high insurance costs. To date, there is little to suggest that capacity has bled off enough to materially affect spot rates – most of the discussion with...

Rupert Hogg, CEO of airline Cathay Pacific (HKEX: 00293) has resigned from his positions as CEO and executive director with effect from Monday August 19. Paul Loo, Chief Customer and Commercial Officer and executive director, has also resigned his positions with effect from Monday August 19. The...

The Port of Vancouver handled a record amount of cargo in volumes and containers during the first half of 2019 as Canada's largest maritime trade hub showed resilience but not immunity to economic headwinds. Cargo volumes increased by 0.5 percent to 72.5 million metric tons compared to the first...

Navistar International Inc. (NYSE: NAV) is the first major truck maker to confirm a reduction in production rates in the current economic cycle.   "Due to the cyclical nature of the business, we will be reducing line rates at our Springfield [Ohio] Assembly Plant," spokeswoman Lyndi McMillan told...

Federal regulators highlighted an estimated $275 million saved by the trucking industry as a result of productivity gains from just one of the one of the proposed changes to hours-of-service HOS regulations, but the industry could see even bigger productivity and capacity gains if all the revisions...

The July Cass Information Systems Inc. Freight Shipments Index sounded dire warnings for an economic contraction following the eighth consecutive month of negative year-over-year numbers. "The shipments index has gone from ‘warning of a potential slowdown' to ‘signaling an economic contraction,'"...

While trade uncertainty is a dominant theme in the rail demand outlook for moving grain this fall, other factors such as global market competition come into play when considering how much grain volume could be moved by U.S. rail operations in the 2019-2020 season. "The question is what feeds what...

Effectively immediately, Will Sehestedt has been appointed as Vice President of Association and University Development for FreightWaves. He will be based in Washington, D.C.  FreightWaves founder and CEO Craig Fuller said, "We welcome Will to the FreightWaves family. He will be responsible for...

Walmart (NYSE: WMT) released strong earnings for the second quarter of 2019, injecting a dose of positive news into a worrisome economic situation. As the world's largest retailer, the company is often seen as a bellwether for the overall retail landscape. Walmart posted adjusted earnings per...