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Less-than-truckload carrier Yellow Corp. closes after 99 years in business. (Photo: Jim Allen/FreightWaves) The biggest bankruptcy in U.S. trucking history could occur in the coming days when the nation’s third-largest less-than-truckload carrier, Yellow Corp., files. The company ceased all operations at noon on Sunday, and leadership ...Web4 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).”.Web4 min. The fiscal fourth-quarter earnings of major trucking lender BMO, the former Bank of Montreal, appear to show a sudden and significant weakening of trucking credit metrics. BMO’s transportation bank of business — its gross loans and acceptances — rose to approximately CA$15.7 billion ($11.6 billion) in the quarter, its highest on ...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. The Canadian Trucking Alliance (CTA) is taking steps to crack down on a business model known as Driver Inc., a tax avoidance scheme that abuses workers and hurts the transportation industry, according to CTA President Stephen Laskowski. “Federal and provincial entities have said they stand with CTA in eliminating the abuse by the …

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Sep 25, 2023 · Indiana-based Elmer Buchta Trucking and its entities recently filed for Chapter 11 bankruptcy. Photo: Jim Allen/FreightWaves. An 85-year-old Indiana-based trucking and logistics company and its affiliates recently filed for Chapter 11 bankruptcy protection less than nine months after it was acquired by private-equity firm Transport Acquisitions. 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).”.Web

Sep 25, 2023 · Indiana-based Elmer Buchta Trucking and its entities recently filed for Chapter 11 bankruptcy. Photo: Jim Allen/FreightWaves. An 85-year-old Indiana-based trucking and logistics company and its affiliates recently filed for Chapter 11 bankruptcy protection less than nine months after it was acquired by private-equity firm Transport Acquisitions. 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 …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 …When it comes to selling your truck, you want to make sure you get the best possible price. But how can you know what your truck is worth? Fortunately, there are a few simple steps you can take to find out how much your truck is worth today...Meadow Lark Agency and its affiliate, Meadow Lark Transport, filed for bankruptcy liquidation Monday, owing around 120 former employees almost $800,000 and nearly 1,300 trucking companies about $2.7 million. Read More ». Eric Kulisch Monday, November 6, 2023.Web

Todd Maiden. · Wednesday, May 24, 2023. The Teamsters are currently negotiating several collective bargaining agreements that expire this summer. (Photo: Jim Allen/FreightWaves) The Teamsters union said Wednesday that a strike authorization had been approved by members covered under ABF Freight’s national master freight …

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 …Web

Nov 10, 2023 · 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. Rachel Premack. · Monday, August 22, 2022. Peeved as heck. In this photo, driver Dixon Smetz joins a rally at a Harrisburg, Pa. truck stop to protest high fuel prices in 2008. (AP Photo/Carolyn Kaster) Earlier this summer, the U.S. Supreme Court decided not to weigh in on two major issues that have roiled trucking for years.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 ... Cromex Inc. FreightWaves Trucking Trucking shutdown. F3: Future of Freight Festival 2023 Promo. 0:00 / 1:07. Team drivers for Cromex Inc. of Villa Park, Illinois, say they were stranded for three days in a hotel room, more than 1,000 miles from home, after the owner failed to deliver on his promise to pay drivers and set them up in a new truck.The trucking industry has recently witnessed a steady rise in the number of women venturing into careers traditionally dominated by men. ... She is currently a staff writer, podcast producer and SiriusXM radio host for FreightWaves, a leading provider of news, data and analytics for the logistics industry.Buying a used truck can be a great way to save money and still get the vehicle you need. But if you’re looking for a used truck for sale by owner, it can be a bit of a challenge to find the perfect one. Here are some tips to help you find t...

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.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 …WebAug 29, 2023 · 18 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 ... 3 min. A Montana trucking company and freight brokerage has apparently shuttered operations, leaving nearly 275 truck drivers and office personnel without jobs, sources say. Meadow Lark Transport Inc., of Billings, Montana, had 273 drivers and 337 power units at the time of its closure, according to the Federal Motor Carrier Safety ...Dec 14, 2022 · 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. Buying a used truck can be a great way to save money and still get the vehicle you need. But if you’re looking for a used truck for sale by owner, it can be a bit of a challenge to find the perfect one. Here are some tips to help you find t...Less-than-truckload carrier Yellow Corp. closes after 99 years in business. (Photo: Jim Allen/FreightWaves) The biggest bankruptcy in U.S. trucking history could occur in the coming days when the nation’s third-largest less-than-truckload carrier, Yellow Corp., files. The company ceased all operations at noon on Sunday, and leadership ...

Jan 29, 2023 · In spite of increasing volume since the start of 2023, truckload spot rates (net of fuel) dropped from $2.02 per mile on Jan. 9 to $1.82 per mile on Jan. 25. While this is certainly above the lowest rate in the current cycle ($1.67 per mile on Nov. 17, 2022), the downward trend isn’t instilling hope for truckload carriers that the market has ...

Trucking company to pay $7.7 million in case of wheel coming loose, striking vehicle. Digital freight platform Convoy announces 2nd round of layoffs since June. FreightWaves Mid Continent Trucking Trucking. Family-owned Mid Continent Trucking of Denison, Iowa, notified drivers and employees recently that after 24 years, the refrigerated carrier ...Jan 29, 2023 · In spite of increasing volume since the start of 2023, truckload spot rates (net of fuel) dropped from $2.02 per mile on Jan. 9 to $1.82 per mile on Jan. 25. While this is certainly above the lowest rate in the current cycle ($1.67 per mile on Nov. 17, 2022), the downward trend isn’t instilling hope for truckload carriers that the market has ... Stay up to date on your No. 1 source for the latest logistics, freight and transportation news from FreightWaves, your award-winning source for …The Bureau of Transportation Statistics reports that freight between the U.S. and Mexico totaled $69.0B in March 2022, up 21% from March 2021. Stay up to date on key developments related to U.S.-Mexico cross-border trucking, freight, and supply chain news here, or visit our cross-border trucking archive to find additional news, information and ...OEM Trucking. In terms of the trucking industry, original equipment manufacturer (OEM) refers to parts made by the same company that makes the vehicle (as opposed to aftermarket parts, which are produced by different companies and designed to be compatible with as many vehicles as possible). While OEM products may cost more than aftermarket ...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 Deutsche ...New truck deliveries pushed used truck prices lower. New truck sales rose 18% to 29,172 compared with 24,716 a year earlier, swamping the 23,581 sold in August, which had been the peak for the year. They also were the highest since data collection began in 1998. Full-year sales rose 14.6% to 254,206 compared with 221,889 in 2021.

Trucks at docks. (Photo: Shutterstock) ... FreightWaves’ news, content, market data, insights, analytics, innovative engagement and risk management tools are unprecedented and unmatched in the industry. Prior to founding FreightWaves, Fuller was the founder and CEO of TransCard, a fleet payment processor that was sold to US Bank. ...

4 min. 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 ...

2 min. The U.S. District Court for the District of Kansas ruled Friday against less-than-truckload carrier Yellow Corp.’s request for an injunction, which would have kept its Teamsters employees from engaging in a work stoppage. In her decision, Senior Judge Julie Robinson denied a motion for a temporary restraining order and injunction.18 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 ...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 ...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 ...Truck parking and storage can be a challenge for truckers. Finding the right spot to park and store your truck can be difficult, especially if you’re on the road for long periods of time. Fortunately, there are a few tips that can help you ...The FreightWaves (NTI), is a seven-day moving average of spot rates that measures the U.S. for-hire, over-the-road dry van trucking market. NTI is calculated on a composite national aggregated level of the Rate Per Mile for fully enclosed, non-refrigerated, 48- or 53-foot trailers moved by Class 8 tractors. The index is based on eligible spot ...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.WebFreight Industry News & Trends. The Future of Freight is a collaboration between FreightWaves and Convoy to highlight the businesses and individuals who are leading this change. ... USPS is interested in drone operators, Rivian wants people to subscribe to its trucks, and Virgin Atlantic pushes for more air cargo marketshare in …CEO Martin Daum told FreightWaves last week that Waymo and Torc, which Daimler purchased in March 2019, were the best bets to lead in autonomous trucking. “We are well on our way to developing the redundant, autonomous-ready Freightliner Cascadia as a platform for various virtual driver systems,” a Daimler spokesperson told …Prior to founding FreightWaves, Fuller was the founder and CEO of TransCard, a fleet payment processor that was sold to US Bank. He also is a trucking industry veteran, having founded and managed the Xpress Direct division of US Xpress Enterprises, the largest provider of on-demand trucking services in North America.Web

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 …Dec 9, 2022 · A federal district court in California won’t hold a hearing for a new preliminary injunction blocking independent contractor law AB5 until May. That means that any hope the state’s trucking sector had that a new preliminary injunction stopping AB5 from enforcement in the state might be handed down by a federal judge is dashed for five more ... After bottoming around 7.8% in early July, the intermodal savings index recovered to 9.8% in early October. During J.B. Hunt’s recent earnings call, EVP and President of Intermodal Operations Darren Field stated September had the best volume week ever as volumes improved throughout the quarter. Revenues were down 15% but volume was up 1% year ...The length of a pickup truck varies by style and manufacturer, but a typical traditional pickup is about 17 feet long, according to GMC. Both cabs and boxes come in longer and shorter sizes.Instagram:https://instagram. avidartunity software stock forecaststock market map livekathy warden northrop grumman Rachel Premack. · Monday, August 22, 2022. Peeved as heck. In this photo, driver Dixon Smetz joins a rally at a Harrisburg, Pa. truck stop to protest high fuel prices in 2008. (AP Photo/Carolyn Kaster) Earlier this summer, the U.S. Supreme Court decided not to weigh in on two major issues that have roiled trucking for years.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. best stocks to pay dividendsjohnson outdoors inc. Only 11% of loads are getting rejected right now, way down from 25% at this time last year. (FreightWaves SONAR) Through the end of 2020 and throughout 2021, trucking was “white-hot,” said Amit Mehrotra, managing director of transportation and shipping research at Deutsche Bank. stock pru Photo: Jim Allen/FreightWaves. Trucking companies, logistics firms and suppliers may be left in a lurch after an Illinois auto parts supplier folded and filed Chapter 7 in early October. JD Norman Industries, headquartered in Addison, Illinois, filed its bankruptcy petition in the U.S. Bankruptcy Court for the Western District of Michigan on ...Truckload volumes match 2018 levels, a good year for trucking. ... FreightWaves’ news, content, market data, insights, analytics, innovative engagement and risk management tools are unprecedented and unmatched in the industry. Prior to founding FreightWaves, Fuller was the founder and CEO of TransCard, a fleet payment …Web5 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 ...