Preliminary North American Class 8 truck orders see declines

FTR reported that preliminary North American Class 8 orders, at 17,300 units, was down 21% compared to October, representing the lowest November tally going back to 2015, while marking a 39% annual decline. ACT’s data was in line with FTR’s, with the firm reporting that preliminary Class 8 net orders, for November, at 17,500, were off 20% compared to October. Source: logistics Mgmt

Read More

Convoy secures an additional $400 million in funding, with a focus on eliminating waste in trucking

Seattle-based digital freight broker Convoy said it has made continued inroads on the investment front in securing $400 million in Series D funding. Company officials said that a key objective with this round of funding is to eliminate hundreds of billions of dollars of waste in the trucking industry. Source: logistics Mgmt

Read More

New direct-from-shipper loads from Convoy helps carriers take deeper dive into spot freight access

A new offering released today by Seattle-based digital freight broker Convoy offers motor carriers access to ten times the amount of spot freight from the biggest shippers in the United States. Entitled direct-from-shipper loads, Convoy said this offering removes the need for shippers to work with multiple brokers and subsequently provide each carrier with a small fraction of their spot loads that is typically at 10% or less. Source: logistics Mgmt

Read More

YRC dips into red ink in Q3, posting $16 million loss in quarter

After earning $2.9 million in the 2018 third quarter, YRC sustained a $16 million net loss in the most recent quarter. The quarterly loss was exacerbated by an $11.2 million loss on extinguishment of debt associated with a refinancing of the term loan agreement, which resulted in a negative impact of $0.34 cents per share for the third quarter 2019. Source: logistics Mgmt

Read More