Freight waves news.

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 ...F3: Future of Freight Festival | Nov. 7-9, 2023. Join us in Chattanooga, TN for a festival like no other! 6 min. FedEx plans to remove 29 aircraft from its fleet this year through permanent retirement and temporary storage, fulfilling its new program to eliminate permanent costs and make its logistics network more flexible as global trade slows. CEO Raj Subramaniam said on Tuesday’s earnings briefing that the Express unit will park 20 aircraft in ...Truckload spot rates are falling – fast. Trucking spot rates are under massive pressure, caused by too many trucks and not enough freight. Truckstop.com’s truckload spot rates peaked at $3.83 per mile in January and are now down to $3.42 per mile. Spot rates will fall further and could hit $2.50 per mile by mid-year.

Freight container shipping is one of the ways that businesses move products across long distances at some of the lowest costs available. Check out this guide to freight container shipping at a glance, and learn more about moving cargo.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 ...

U.S. import numbers confirm that at least some of this rate gain is demand-driven. On Monday, Descartes reported that U.S. ports imported 2,196,268 twenty-foot equivalent units in August, up 0.4% from July and 5.5% from June. This August’s volumes were 2.5% higher than volumes in August 2019, pre-COVID. (Chart: Descartes.

Jul 10, 2023 · 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 ... You can find the Standard Carrier Alpha Code for a freight company at SCACCodeLookup.com. An alphabetized list of the most common SCAC codes is available at EDIProvider.com.Jun 20, 2023 · 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 ... An order was entered in a Delaware bankruptcy court Thursday naming less-than-truckload carrier Estes Express Lines’ $1.525 billion stalking horse bid as the winning offer of Yellow Corp.’s portfolio of owned terminals. Bid protections for Estes were also approved, including a $7.5 million breakup fee and expense reimbursement up to $1.6 ...The Teamsters and UPS Inc. came to terms on all noneconomic issues during national contract negotiations on Tuesday, the union said. “We have reached tentative agreement on well over 40 noneconomic issues that affect all our members at UPS, and we did it as a team. The Teamsters haven’t sacrificed a single concession in these negotiations ...

The global supply chain has seen more than its fair share of chaos for well over a year now. From global economic lockdowns and cancellations to historic port congestion as 100% …

Required fields are marked. The Freightos Baltic Index (FBX) is the world’s leading—and most accurate—index of market rates for 40' containers.

Subscribe to our Classic Newsletters Newsletters that never seem to go out of style. Freightwaves Tech Newsletter (Tuesday | Weekly) Stay up to speed on the latest technology and trends impacting the freight industry with this weekly newsletter. Air Cargo Newsletter (Monday | Weekly) Get news, analysis and exclusive insights about the movement ... 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 ...Freight could go 100 miles in the wrong direction, then back to where it would have gone. A Yellow truck driver based in Tacoma, Washington, said that following Reddaway’s integration with Yellow, it’s become more common for freight to be incorrectly shipped to Alaska, then return to the Lower 48, then back to Alaska.Refrigerated rail shipping and logistics company reportedly fell behind on loan payments. Overland Park-based Tiger Cool Express ceased operations after 10 years. (Photo: Jim Allen/FreightWaves) New details have emerged about Tiger Cool Express’ financial health leading up to the company’s abrupt closure on Tuesday.WebFreightWaves spoke with 17 current Yellow employees — one mechanic and 16 truck drivers, who work over-the-road or locally — to learn more about the rank and file’s reaction toward this brawl. Five drivers were connected to FreightWaves through Yellow’s spokesperson, who remained on the phone with each interview.WebSpot rates fall back again. The global composite of Drewry’s World Container Index (WCI) fell 6% in the week ending Thursday versus the prior week, to $1,384 per forty-foot equivalent unit. The global composite has given back all of its gains since the beginning of Q4 and is now down 1% versus Oct. 1. Spot rate in USD per FEU.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%.

UP ( NYSE: UNP) expects to open in the first quarter of 2024 a new international intermodal terminal in Phoenix, which the railway says will provide a rail option for those seeking a connection between the ports in the Los Angeles Basin and the U.S. Southwest. Although the terminal, which will be owned and operated by UP, will be …Nov 15, 2023 · Truckload Freight. Truckload shipping refers to the movement of freight in the amounts necessary to fill an entire semi-truck or intermodal container. This is in contrast to less than truckload (LTL) shipping, where freight from multiple sources is mixed and transported in one truck or shipping container. Trucking industry regulations change ... 6 min. Not a single container ship waited offshore of the ports of Los Angeles or Long Beach on Nov. 22-23. It was the first time the queue had gone to zero since October 2020, in the early days of the COVID-era consumer boom. “The container-ship backup for the ports of Los Angeles and Long Beach has ended,” declared Kip Louttit, executive ...Important dates. July 10, 2023: Nominations open for FreightTech 202 4. Sept. 1, 2023: Nominations close for FreightTech 202 4. Sept. 18, 2023: FreightTech 100 announced on freightwaves.com. Nov. 9, 2023: FreightTech 25 announced at F3: Future of Freight Festival. Click here to nominate a company for the 2024 FreightTech award.WebThen the news broke that one of the most iconic freight brokers to come out of the venture era of freight tech funding would fail on the same morning. Convoy was a victim of a violent commoditized industry that is facing one of its deepest recessions in decades and a sudden change in investor appetite from risk to unit economics.

Required fields are marked. The Freightos Baltic Index (FBX) is the world’s leading—and most accurate—index of market rates for 40' containers.

Monday, June 14, 2021 0 Even with inflationary pressures pervading nearly every aspect of the economy, consumer packaged goods (CPG) companies are somewhat uniquely exposed... Read more Retail disruption and K-shaped recovery highlight importance of freight data by Tony Mulvey Thursday, April 29, 2021 0Brielle is the deputy editor of Freight Waves and has a seven-year history in B2B publishing, tackling cutting edge stories in business, with more than two years specifically focused on the supply chain. She’s interviewed numerous CEOs and is adept at finding stories that matter to the industry. She believes in finding a new way forward in ...Darryn Garson, chief growth officer at Remcoda, talks about the logistics behind holiday stocking stuffers. We’ll find out how Remcoda/BluZen products, including massage guns, migraine head wraps, essential oils and more, are headed to over 8,000 Walgreens locations, 2,000 T.J. Maxx stores and various other retail checkout counters …Russia’s invasion of Ukraine buoyed rates for tanker companies. Now there’s a new geopolitical crisis — the Israel-Hamas war in response to Saturday’s terrorism attack by Hamas — and clear potential for escalation to a regional conflict. It may seem insensitive, but it’s the job of shipping analysts and shipowner executives to ...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 …Nov 5, 2023 · Pennsylvania brokerage lays off nearly 65 employees, sources say. Approximately 65 employees for Pittsburgh-based Elite Transit Solutions were laid off via Microsoft Teams on Friday. This is the second round of job cuts the freight brokerage has experienced over the past month; about 20 employees were let go on Oct. 20 because of the “current ... Cargo revenue at public passenger airlines and logistics companies, which serves as a proxy for financial conditions at Amerijet, was down 30% to 50% through the third quarter versus the nine-month period a year ago. Many cargo airlines have hit the brakes on adding new or converted freighters and reduced flight activity to manage costs.3.5M Unique Visitors Per Month 258K+ Social Followers 14 AWARDS FOR EXCELLENCE IN B2B JOURNALISM 2020 FINALIST, BEST WHITE PAPER INSIGHTS FROM …Dec 3, 2023 · 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. Larger container ships sailing from Asia to U.S. East and Gulf Coast ports already feel the effect of Panama’s drought, because they need more than 44 feet of draft when fully loaded. Vasquez said that for every foot of lost draft, container ships lose capacity for 350 twenty-foot equivalent units. Thus, this year’s loss of 6 feet of draft ...

The FreightWaves Trusted Rate Assessment Consortium (TRAC) spot rate from Los Angeles to Dallas, arguably one of the densest freight lanes in the country, has seen a slowdown in its prior momentum. Over the past week, the TRAC rate fell 1 cent per mile to $2.08 — still some distance from its year-to-date high of $2.39.

FreightWaves News 4+ Read, Watch and Listen FreightWaves, Inc. Designed for iPad 4.1 • 11 Ratings Free Screenshots iPad iPhone FreightWaves enables companies involved in …

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 ...Daily Infographic: EV Infrastructure: South Korea leads the charge. FreightWaves produces a daily infographic Monday through Friday. Stay tuned for the latest in illustrated content! FreightWaves is the number one source for freight and logistics news across the globe.Required fields are marked. The Freightos Baltic Index (FBX) is the world’s leading—and most accurate—index of market rates for 40' containers.The FreightTech 25 will be announced next month. FreightWaves – the industry-leading provider of news, data and analytics for the logistics markets – has announced the winners of the 2021 FreightTech 100 Awards. The world has faced significant collective hardship this year, throwing both the markets and people’s everyday lives for a …UP ( NYSE: UNP) expects to open in the first quarter of 2024 a new international intermodal terminal in Phoenix, which the railway says will provide a rail option for those seeking a connection between the ports in the Los Angeles Basin and the U.S. Southwest. Although the terminal, which will be owned and operated by UP, will be …Digital freight brokerage Surge Transportation filed for bankruptcy on July 24, as FreightWaves’ Hampstead first reported the following day. 2023 was a more …USA, TRISG.USA. The National Retail Federation says inventories are in balance with no apparent stockouts or overstocks as highlighted in Mark Solomon’s article. The SONAR chart above shows the seasonally adjusted retail inventory-to-sales ratio at 1.36 at the end of September (updated Nov. 15), up 2.3% y/y, which is roughly in line …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.

FreightWaves again named one of fastest-growing companies in North America. Chattanooga, Tennessee-based FreightWaves has been named to Deloitte’s Technology Fast 500 list. Read More ». Noi Mahoney Tuesday, November 7, 2023.Nov 14, 2023 · 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. Sep 13, 2023 · Chart: ( SONAR: NTIL.USA ). The National Truckload Index (linehaul only – NTIL) is based on an average of booked spot dry van loads from 250,000 lanes. The NTIL is a seven-day moving average of linehaul spot rates excluding fuel. Spot rates are still 15% lower year over year. Bruffett is seeing capacity exit as well. As of 2014, Harbor Freight Tools does not offer franchises. The company owns all of its stores and operates a real estate department that assesses potential locations for future stores.Instagram:https://instagram. td ameritrade metatrader 5mark stock priceexpedia sharesvanguard high yield tax exempt 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 Teamsters and UPS Inc. came to terms on all noneconomic issues during national contract negotiations on Tuesday, the union said. “We have reached tentative agreement on well over 40 noneconomic issues that affect all our members at UPS, and we did it as a team. The Teamsters haven’t sacrificed a single concession in these negotiations ... health and dental insurance indianapaper trading account fidelity Locally manufactured iPhone shipments in India grew 162% year-on-year by value in 2022, according to Counterpoint. India’s ongoing efforts to boost local manufacturing of iPhone devices seem to have paid off to some extent, as the locally m...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. atandt value A captain who works 40 years at FedEx can expect to make slightly more than $20 million in pay, benefits and retirement over his or her career compared to the industry average of about $18.8 million, according to analysis by aviation analyst Kit Darby. But the total compensation now lags Alaska Airlines, Hawaiian Airlines, Delta Air LInes ...Nikola Corp. is asking dealers and customers to return battery-electric trucks under recall for possible battery fires to its Coolidge, Arizona plant despite the company still working on a fix. “We’re bringing them back to Coolidge for repairs to be made instead of in the field,” spokesman Dan Passe told FreightWaves in an email Saturday.Web