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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.WebJudge 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 …WebInvestors 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 …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 …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 ...

Speed limiters. A notice of intent issued this year by FMCSA to propose in 2023 electronic engine devices to set and limit truck speeds have truckers on high alert. The notice of FMCSA’s intent alone generated more than 15,000 responses, and at least that many is expected once the actual proposal is issued.

Failure to do so puts the trucking industry — and the economy — in danger. Holmbäck was driven to create Lanefinder by the conviction that the trucking industry deserves its own jobs marketplace — a space entirely dedicated to drivers and carriers, taking their unique and nuanced needs into account. “Everybody knows the job search ...WebSep 26, 2022 · FreightWaves is the most trusted provider of global supply chain market intelligence. Our high-frequency price, demand, and capacity data and analysis allow our customers to benchmark, analyze, monitor and forecast the global physical economy.

FreightWaves supply chain news coverage is your leading source of global supply chain updates and information via freight data. Subscribe now for free ... Lowe’s has been changing the way it deploys trucks to deliver goods and has garnered a spot on FreightWaves’ annual list honoring shippers. Read More » Eric Kulisch ...Fuller and Strickland noted that during much of 2023, forecasts from the trucking industry — at least from many of the larger public companies — reflected the relatively strong data points used by economists to measure the health of the economy, such as 4.9% GDP growth and low unemployment. However, “that data suggests that the market isn ...The chart is measuring the market in weeks; green is expansion, red is contraction. As capacity continues to correct, the freight rate cycle will begin to move at a faster pace (perhaps later this year; more likely late in the first quarter of 2024). Rates will move higher. Generally speaking, this helps carriers and is detrimental to shippers.In 2019, ATRI released a study on recreational marijuana laws’ possible effects on the trucking industry. At the time, 11 states had legalized marijuana. Since then, that number has nearly doubled to 20, prompting the new study. The original study specifically looked at safety issues brought on by an increase in passenger vehicles …Feb 21, 2023 · A 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.

Jan 23, 2023 · 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.

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 …

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 ... 4 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 ...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 …Digital freight brokerage Surge Transportation filed for bankruptcy on July 24, as FreightWaves’ Hampstead first reported the following day. 2023 was a more severe …Apr 13, 2022 · The freight cycle. The freight cycle is a market cycle that describes the boom to bust cycle of the trucking freight market. A typical freight cycle lasts for three to four years and is more cyclical than a broader economic cycle. In the early part of the cycle, the freight market is balanced. 2018 was a good year for trucking, but with so much capacity added over the past five years, a reset to those levels is not cause for celebration. According to the Federal Motor Carrier Safety Administration, the number of trucks in the for-hire market is up 29% since early 2018. It will take time to bleed off excess capacity.Fuller and Strickland noted that during much of 2023, forecasts from the trucking industry — at least from many of the larger public companies — reflected the relatively strong data points used by economists to measure the health of the economy, such as 4.9% GDP growth and low unemployment. However, “that data suggests that the market isn ...

May 6, 2022 · A Missouri-based trucking company, which contracted with the U.S. Postal Service to haul mail, recently ceased operations and filed Chapter 7 bankruptcy. Family-owned Rooney Trucking Inc., headquartered in Polo, filed its petition in the U.S. Bankruptcy Court for the Western District of Missouri on Monday. Attorney Ryan Blay told FreightWaves ... 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 …Jun 15, 2023 · A Yellow truck leaving a terminal in Houston, Texas. (Jim Allen/FreightWaves) Abdul Jaludi knows his job as a driver at Yellow Corp., one of the largest trucking fleets in the United States, is better than most trucking gigs. He’s home most nights, gets paid vacation and sick leave, and “doesn’t pay a penny” for his medical benefits. Dec 20, 2022 · Two reports released Tuesday convey just how bad things got in the trucking industry this fall. FTR Transportation Intelligence said trucking conditions hit an 18-month low in October 2022. High diesel costs and sinking rates pushed the firm’s Trucking Conditions Index to its lowest point since April 2020, when it hit a record bottom. Sep 26, 2022 · FreightWaves is the most trusted provider of global supply chain market intelligence. Our high-frequency price, demand, and capacity data and analysis allow our customers to benchmark, analyze, monitor and forecast the global physical economy. According to a recent Trucking Alliance survey, 98% of the 62,000 trucks operated by the group’s member carriers use speed limiter technology, they told lawmakers, with maximum speed settings ranging from 61 mph to 70 mph. In addition to safety benefits, members of the coalition point to economic advantages of installing speed limiters on fleets.

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 ...

Photo: 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 ...FreightWaves provides award-winning trucking news coverage. Subscribe to your leading source of news for free!Trucking Market Research - FreightIntel Group - FreightWaves Passport Home Category Trucking Trucking We publish coverage of Trucking Markets weekly and explore the …However, industry misconceptions continue to discourage generations of women from participating, making recruiting and retaining women a concern for fleet operators. On Wednesday during FreightWaves’ Enterprise Fleet Summit, Jennifer Hedrick, the president and CEO of the Women In Trucking Association, shed light on these …Apr 28, 2023 · FreightWaves. Trucking bloodbath snares fleets large and small. 9 min. America’s $875 billion trucking industry is struggling. The number of authorized interstate trucking fleets in the U.S. declined by nearly 9,000 in the first quarter of 2023, according to federal data analyzed by Motive, a fleet management technology company. There’s some discrepancy on what a truck driver typically earns. According to Bureau of Labor Statistics data, heavy and tractor-trailer truck drivers earned a median annual salary of $49,920 in 2022. Data from the ATA found that average pay for truckload drivers was about $70,000, before benefits, in 2021.

Aug 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 ...

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.

3 min. Social media exploded over the weekend with reports of truck drivers planning to boycott moving freight into or out of Florida in response to the state’s new law regarding migrants. The state government recently passed a bill targeting undocumented immigrants by requiring employers to check that workers are authorized to work in the U.S.STG Logistics’ acquisition of Best Dedicated Solutions will add expedited, dry van, temperature-controlled and flatbed OTR transportation to STG’s existing services. ... Read the latest logistics news and insights from FreightWaves covering multi-modal transportation. Award winning news coverage at your fingertips.John Kingston. · Friday, November 03, 2023. Job totals in truck transportation declined for the fourth time in five months. (Photo: Jim Allen/FreightWaves) Employment in the truck transportation sector in October recorded its fourth decline in the past five months as total jobs in that classification are now down more than 30,000 since its ...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 …WebThe CEO and founder of Stack AV is taking a shot at Class 8 autonomous trucking with the backing of Japan’s SoftBank Group Corp. Salesky is holding back on a lot of details of his new company, founded earlier this year with longtime collaborators Peter Rander and Brett Browning. The three oversaw Argo AI, a Level 4 autonomous vehicle company ...Truck dispatchers are responsible for managing the daily operations of trucking companies. They are responsible for coordinating the movement of trucks and drivers, ensuring that shipments are delivered on time and in good condition.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 ...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 …Truckload spot rates tank fast thanks to fuel costs. The truckload spot market has fallen apart over the past two months. Larger fleets are in far better shape for weathering the storm. Read More ». Zach Strickland, FW Market Expert & Market Analyst Saturday, May 14, 2022.A bobtail truck is a semi truck that travels from one point to another without a trailer. Sometimes a trucker has to drop off an entire trailer at his destination and travel elsewhere to pick up another trailer. Truckers are often paid roun...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 ...Ex-Celadon executives Eric Meek and Bobby Lee Peavler had been indicted on nine counts of fraud for an alleged accounting scheme. (Photo: Jim Allen/FreightWaves) The Securities and Exchange Commission has agreed to settle an accounting fraud case against two former Celadon Group Inc. executives accused of engaging in a scheme to hide millions ...

Clarissa Hawes. · Monday, July 17, 2023. Georgia-based Big J Express filed for bankruptcy on Friday. (Photo Credit: Jim Allen/FreightWaves) Listen to this article. 4 min. A Georgia-based trucking company, which reported a significant drop in revenue this year compared with the previous two years, filed for bankruptcy liquidation on Friday.4 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 ...5 min. The seemingly perpetual marketwide truck driver shortage is not real, nor is it marketwide. While specific fleets can and do have driver shortages — i.e., unseated trucks — the trucking market quickly corrects. There also are periods of capacity shortages, but those get addressed very quickly by the market.Instagram:https://instagram. lilly eli stockfemale financial advisor near medental insurance in azbest insurance for diabetics Aug 27, 2023 · (Photo: Jim Allen/FreightWaves) 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 ... competitors of teslanew inherited ira rules 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 ... best loans for physicians John Gallagher. · Monday, August 29, 2022. Hemp loading onto back of truck. (Photo: 357 Hemp Logistics) Since passage of the 2018 Farm Bill legalizing the cultivation and sale of hemp and its derivatives, a lack of guidance governing how the cargo is transported has been a potential barrier for trucking companies looking to take advantage of ...According to research firm Pitchbook, the company has raised over $262 million to date. In response to The Information’s claims, NEXT Trucking told FreightWaves it is not at liberty to discuss its financial and investment matters. “The article is speculative and inaccurate and misrepresents information acquired through inappropriate means.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].