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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.At the end of 2020, only 12.5% of drivers who had tested positive had been cleared to drive again. In 2021 that number increased to 22.7%, and it increased again in 2022 to 27.6%. Garney also noted that starting on Jan. 6 — after three full years of clearinghouse operation — motor carriers were no longer required to query a driver’s ...Jan 26, 2023 · At the end of 2020, only 12.5% of drivers who had tested positive had been cleared to drive again. In 2021 that number increased to 22.7%, and it increased again in 2022 to 27.6%. Garney also noted that starting on Jan. 6 — after three full years of clearinghouse operation — motor carriers were no longer required to query a driver’s ... 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 …

7 min. Cummins Inc. predicts its new 15-liter natural gas engine designed for heavy-duty and on-highway applications could lead to a five-fold growth in customers for the alternative powertrain. It overcomes complaints about low power and torque and can run on potentially net-zero carbon renewable natural gas (RNG).Web4 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 ...Truck drivers at Yellow fear the end is coming soon. (Photo: Jim Allen/FreightWaves) From the Great Recession to 2020, Yellow nearly went bankrupt four times. In each episode, the trucking giant was saved — thanks to concessions from lenders, the Teamsters union, the federal government or often all three. As a result, …Web

Oct 18, 2023 · 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 $260 million in a Series ...

Nov 5, 2023 · Citizens Bank of Sac City, Iowa, has failed, and it appears that its exposure to commercial trucking is the cause. Citizens Bank was a small state-chartered bank. Its loan portfolio was focused on “commercial and industrial loans,” according to Bank Reg Blog. The blog reported on Nov. 3 that the Federal Deposit Insurance Corporation (FDIC ... If you’re in the market for a used pickup truck, you may be wondering where to start your search. With so many options available, it can be hard to know where to look for the best deals.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 …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.Web

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].

Truck drivers at Yellow fear the end is coming soon. (Photo: Jim Allen/FreightWaves) From the Great Recession to 2020, Yellow nearly went bankrupt four times. In each episode, the trucking giant was saved — thanks to concessions from lenders, the Teamsters union, the federal government or often all three. As a result, …Web

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 ...The current spot rate (net fuel) is $1.95/mile. On a variable cost-adjusted basis, the trucking spot rates have matched 2019 since May 2022 – $2.16/mile and since have dropped $0.21/mile. It’s likely to get worse. The month of May typically has among the highest rates we’ll see all year, with July and August being some of the weakest months.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].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 ...WebFreightWaves released the National Trucking Index during Monday’s Day 1 of The Future Of Supply Chain event, providing a benchmark that is dedicated to measuring the direction of the domestic truckload market.The NTI is a seven-day moving average of spot rates that measures the U.S. for-hire, over-the-road dry van trucking market.WebNov 22, 2023 · 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.

7 min. On July 7, Yellow ( NASDAQ: YELL) narrowly avoided bankruptcy for the fifth time since 2009. The potential for collapse is still looming, though. That’s scaring some customers off, according to three brokers and two industry experts interviewed by FreightWaves. Recent notes from investment banks like Bank of America and Stifel have ...Todd Maiden. · Monday, January 09, 2023. The next stage of the trucking cycle could begin in early 2023. (Photo: Jim Allen/FreightWaves) Listen to this article. 9 min. Two transportation and logistics analysts placed lukewarm equity opinions on the broader transportation complex on Monday with one favoring ownership of asset-based …She’s especially interested in trucking news. Before joining FreightWaves in 2022, Rachel was a senior features reporter at Business Insider. She created the trucking news beat at Business Insider, and has appeared on NPR Marketplace, ABC News, NBC Nightly News, The Today Show, France24, and other major outlets to discuss her coverage.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 from a McDonald’s drive-thru in ...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 ...

November 29, 2023 at 8:51 AM · 5 min read. Former trucking company owner Franklin Ray, 52, of Canton, Michigan, was sentenced to more than 17 years in federal prison for his …

With so many food options finding the right food truck ideas can get overwhelming, here are some of the many options for you to consider. There are plenty of opportunities for small business owners in the food truck industry. Instead of inv...Six months later, U.S. Xpress was sold to Knight-Swift. Knight-Swift’s stock price has been largely flat to down since the acquisition. It was about $56.70 per share at the time of the deal and closed Friday at $55.75. Disclosure: FreightWaves founder and CEO Craig Fuller had retained ownership of U.S. Xpress shares through his family trust.FreightWaves provides award-winning trucking news coverage. Subscribe to your leading source of news for free!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.Nov 22, 2023 · 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. 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.Mexico exported 157,522 heavy-duty trucks to the U.S. in 2022, an 18% year-over-year increase. Read More » Brandon Cafferky Friday, October 7, 2022 Daily Infographic: Mexico truck makers break export record in August ... Download the FreightWaves app for unlimited access to news and insights (Android & iOS Available) …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.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 ...Web

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.

Nov 22, 2023 · 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.

In arguably one of the most important moves in its history, FedEx Corp. said Wednesday it will combine three of its operating units into one business known as Federal Express Corp. The transition will bring FedEx’s ( NYSE: FDX) air, ground parcel and FedEx Services businesses under one umbrella, effective June 1, 2024.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 demand is softening. (Photo: Jim Allen/FreightWaves) Trucking demand is “near freight recession levels,” according to Bank of America. Shippers’ outlook on rates, capacity and inventory levels are matching attitudes not seen since May and June 2020, when pandemic lockdowns sent freight volumes into a historic decline. In a Friday ...Truckload spot rates, according to the FreightWaves National Truckload Index, hit a low of $1.67 on Nov. 17, 2022, and have since bounced back to $1.98 per mile. FreightWaves SONAR: National Truckload Index. To learn more about SONAR, click here. Trucking tender volumes also suggest that the direst of predictions have not played out.Daimler Truck North America CEO John O’Leary sees a strong market for Class 8 trucks in 2023. (Photos: Daimler Truck North America) After a record 53,000 September orders, new bookings slowed …Feb 18, 2023 · In August 2021, a Florida jury awarded a record $1 billion verdict in a case involving two trucking companies for the death of an 18-year-old named Connor Dzion. Dzion’s family was awarded $100 million for pain and suffering and $900 million in punitive damages for negligent hiring and retention against one of the trucking companies. 3 min. The two ways shippers could purchase trucking capacity were through contracts or the spot market. Until now. FreightWaves has introduced index-linked contracts as a third option for trucking capacity. Currently, 30 shippers — large consumer-brand companies — are in various stages of implementing this new product.Oct 18, 2023 · Trucking Regulation. Trucking regulations are determined by several government agencies in the United States. The Federal Motor Carrier Safety Administration (FMCSA) is the lead agency responsible for trucking laws, regulating and providing safety oversight of commercial motor vehicles (including over 500,000 commercial trucking companies. 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 ...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 ...Nov 7, 2023 · 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 ...

November 29, 2023 at 8:51 AM · 5 min read. Former trucking company owner Franklin Ray, 52, of Canton, Michigan, was sentenced to more than 17 years in federal prison for his …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.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 ...Based in Chattanooga TN, Thomas is an Enterprise Trucking Carrier Expert at FreightWaves with a focus on news commentary, analysis and trucking insights. Before that, he worked at a digital trucking startup aifleet, Arrive Logistics as an Account Executive, and 5 years at U.S. Xpress Enterprises Inc. with an emphasis on fleet …Instagram:https://instagram. revology mustangswhat gold stock should i buybits etffree macd charts The addition of ReedTMS to Werner’s logistics unit pushes the division’s revenue to more than $1.1 billion. Both of Werner’s 2022 deals are expected to be accretive to earnings in year one. Werner acquires Baylor Trucking in latest deal. Werner acquires ReedTMS Logistics in $112M deal.WebIn under a year he helped build FreightCasts, the world’s largest logistics and supply chain podcast network in media. WTT is ranked in Apple Podcasts top-20 Business News podcasts. He also writes a newsletter of the same title with over 15k subscribers in the supply chain and trucking niche. Dooner has been in freight since 2005 and has held ... how much are jfk half dollars worthucle 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. 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 ... nasdaq rent FreightTech experts weren’t completely surprised by the news, with most detailing concerns for the initially drayage-focused freight marketplace from its inception. “I first learned about NEXT Trucking when Lidia [Yan, co-founder and former CEO] was on stage during a FreightWaves event in 2019.The National Truckload Index (linehaul only – NTIL) is based on an average of booked spot dry van loads from 250,000 lanes and 10,000 daily spot market transactions. The NTIL is a seven-day moving average of linehaul spot rates excluding fuel. Spot rates are currently 34% lower y/y. Mehrotra previously cut his first-quarter earnings-per-share ...The updated Navistar International LT arrives next July with up to 15% better fuel efficiency than the first generation of the current engine. (Photo: Alan Adler/FreightWaves) LAS VEGAS — Navistar Inc.’s S13 integrated powertrain for its on-highway trucks is the manufacturer’s last new internal combustion engine.