In a financial development that shocked the trucking industry, 101-year-old New England Motor Freight and 10 related subsidiaries (including truckload giant Eastern Freightways) voluntarily filed for relief under Chapter 11 of the Bankruptcy Code in the U.S. Bankruptcy Court for the District of New Jersey in Newark on February 11. Source: logistics Mgmt
In advance of today’s House Committee on Transportation and Infrastructure’s (T&I) first full committee hearing of the 116th Congress, which is addressing the current state of United States transportation infrastructure, the Washington, D.C.-based Americans for Modern Transportation (AMT) wrote a letter to the committee’s leadership calling for Congress to increase the national twin-trailer standard as a “common sense” approach to augment the current state of U.S. infrastructure, which remains mired in a long period of decline. Source: logistics Mgmt
Taking a cue from its corporate sibling, the ubiquitous, ride-sharing service Uber, Uber Freight, the company’s app that matches trucking companies with loads to haul, announced today it has introduced Facility Ratings to its portfolio. Source: logistics Mgmt
Chattanooga, Tennessee-based truckload and full-service freight transportation provider U.S. Xpress recently announced that it plans to formally divest its U.S.-Mexico cross-border investment. The company said that this move is part of ongoing capital allocation and profit improvement efforts. And it explained that this initiative is expected to reduce current and planned invested capital by roughly $40 million, and also improve its consolidated operating margin, and provide customers with continued access to cross-border service through what it described as a variable...
The ATA’s advanced seasonally-adjusted (SA) For-Hire Truck Tonnage Index for December, at 111.9 dropped 4.3% compared to November’s 116.9 reading, whose sequential change compared to October (which was an all-time high at 122.8) was downwardly revised to -1.3% from +0.4%. Source: logistics Mgmt
Mixed economic signals are proving to be somewhat of a Rorschach Test for shippers trying to gauge freight demand levels heading into the strongest part of the 2019 freight season. Source: logistics Mgmt
YRC Worldwide, which controls the fourth- and eighth-largest less-than-truckload (LTL) units with its long-haul and regional trucking companies, is offering an early peak into its operating results for the fourth quarter 2018. Source: logistics Mgmt
For November, the most recent month for which data is available, the TCI rose 2.67% to 5.84 compared to October’s 3.17 reading. Source: logistics Mgmt
For October, the most recent month for which data is available, the TCI reading was 3.17, which is more than a point down from August’s 4.58. Source: logistics Mgmt
Seattle-based Convoy, a digital freight technology-enabled network, recently announced it secured $185 million in Series C funding. Source: logistics Mgmt
But plans to create a combined fleet of...
Multimodal Heavy Lift Freight Forwarding Operation Handled by...