Freight wave news.

Nov 6, 2023 · 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. Dec 4, 2023 · On a day-to-day basis, friction is characterized by manual processes, inefficient workflows and high volumes of human effort. As supply chain leaders look to optimize operations and plan for the future in a down market, this friction stands in the way of transforming their supply chains from cost centers to revenue generators. 16 May 2023 ... News Home ABC News Homepage. WA truck driver shortage leaves freight ... When Hamas's hostages smile and wave, this is what's actually going on.Apr 7, 2023 · The “partial rivalry” scenario should sound very familiar to those following current developments in ocean shipping, most visibly in tanker shipping, but also in container and dry bulk shipping. Geopolitics is cleaving global shipping systems into two, with the U.S. and EU leading one side and China and Russia leading the other, and some ...

Americold Logistics of St. Louis, owed approximately $69,000, is also listed as a secured creditor. According to SAB, the meat importer’s gross revenues from Jan. 1 until its bankruptcy filing date are nearly $57 million. Its petition states the company made around $96 million in 2021 and approximately $68 million in 2020.

For exporters, container shipping still far from pre-COVID ‘normal’. The supply chain crisis is over, but exporters are still paying more — and facing more logistical challenges — than they did before the pandemic. Read More ». Greg Miller Friday, September 15, 2023.

The Shipper Rate Report—presented in partnership with U.S. Bank and BlueGrace Logistics —is a quarterly publication using freight payment data from U.S. Bank in conjunction with FreightWaves SONAR data sets to create the most in-depth rate and demand outlook for shippers. The insights within this paper are curated by the market experts at ...Hapag-Lloyd and Yang Ming: Germany’s Hapag-Lloyd, the fifth-largest liner operator, increased capacity by 1.8% last year and by 64,800 TEUs or 4% over the past three years. At No. 9, Taiwan’s Yang Ming upped capacity by 60,724 TEUs or 9% since pre-pandemic. It was the eighth-largest carrier in early 2020.Spot rates fall back again. The global composite of Drewry’s World Container Index (WCI) fell 6% in the week ending Thursday versus the prior week, to $1,384 per forty-foot equivalent unit. The global composite has given back all of its gains since the beginning of Q4 and is now down 1% versus Oct. 1. Spot rate in USD per FEU.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.Data from FreightWaves SONAR presented during the webinar showed that the net reduction in the number of approved authorities has been relatively muted given the weakness of the market. The market is not ready to bounce back, Fuller said. “This is the reason the carriers feel the way they do.

The FreightWaves TRAC spot rate from Los Angeles to Dallas, arguably one of the densest freight lanes in the country, was on an unstoppable decline since January but has finally leveled out. Over the past week, the TRAC rate held firm at $2.01, still a far cry from its year-to-date high of $2.39.

... cargo. “We don't know yet if the third lockdown wave will extend the peak because people stay at home and shop more on Amazon and Zalando or if it will ...

The siloed nature of the freight industry leads to confusion and speculation, two factors that worsen rate variability, according to Hamlin. “Shippers and their carriers or brokers are only conversing about one lane or one region at a time,” she said. “This transactional market today just really enhances this fragmentation in silos and ...Whether you’re expecting an important package or want to keep an eye on your business shipments, tracking your FedEx shipment is crucial. With the advancements in technology, tracking packages has become easier and more efficient than ever ...The drastic fall in ocean rates is pulling many shipments back to the ocean mode, contributing to the decline in air volumes. The average November air cargo spot rate on the trans-Pacific lane was down 32% versus last year, to $5.82 per kilogram, but still 139% above the 2019 level.Check Call the Show. News and Analysis for 3PLs and Freight Brokers. It’s Q4 and cargo theft is on the rise. It’s a down market and end of the year, and cargo thefts typically rise this time of year. However, this year CargoNet saw a 59% increase year over year in thefts and pilferage in the U.S. and Canada during the third quarter.Nov 5, 2023 · Pennsylvania brokerage lays off nearly 65 employees, sources say. Approximately 65 employees for Pittsburgh-based Elite Transit Solutions were laid off via Microsoft Teams on Friday. This is the second round of job cuts the freight brokerage has experienced over the past month; about 20 employees were let go on Oct. 20 because of the “current ...

The FreightWaves Trusted Rate Assessment Consortium (TRAC) spot rate from Los Angeles to Dallas, arguably one of the densest freight lanes in the country, is still securing its footing. Over the past week, the TRAC rate was left unchanged at $2.31 per mile — still some distance from its year-to-date high of $2.39.The latest report, released Friday, revised the September truck transportation total down by 900 jobs, but the August total was cut 5,500 jobs from a month earlier. After all the changes, October’s total truck transportation jobs of 1,578,600 is 30,600 fewer than the high-water mark of May, when the BLS reported 1,609,200 jobs.Parcel delivery is a cost-effective, efficient, and fast option for businesses shipping items up to 150 pounds. And, unlike freight shipping, packages are delivered directly to a residential or business address. Check back here for the latest parcel freight industry news. Mark Solomon Wednesday, November 15, 2023.Today, the same lane goes for $1,402/TEU. In May 2022, container imports handled at the U.S. port peaked at 2.6 million TEUs, the most recent month of imports data before FreightWaves’ article was published. Descartes reported that container import volumes in November were 1.95 million TEUs, a drop of 25%.Part of the ACF rule says fleets can only purchase ZEVs starting in January 2024 and must take ICE trucks out of their fleets by the start of 2025. But the ability to replace an ICE vehicle in a high-priority fleet after Jan. 1 is convoluted. One part of the ACF says that to keep in compliance, a fleet must have “no ICE vehicles added on or ...The freight industry has seen a wave of brokerage bankruptcies in recent months, and that surge is causing significant disruptions for carriers, undermining their financial and operational stability. Rachel Premack, editorial director at FreightWaves, and Clayton Griffin, chief strategy officer and EVP at OTR Solutions, spoke on current ...This special FreightWaves subscription service offers unparalleled deep research, analysis and insight on trends and conditions in the freight market. Passport clients have the best holistic transportation research available, based on high frequency datasets and deep networks in the freight industry. Passport provides the most up-to-date ...

Today, the same lane goes for $1,402/TEU. In May 2022, container imports handled at the U.S. port peaked at 2.6 million TEUs, the most recent month of imports data before FreightWaves’ article was published. Descartes reported that container import volumes in November were 1.95 million TEUs, a drop of 25%.The latest report, released Friday, revised the September truck transportation total down by 900 jobs, but the August total was cut 5,500 jobs from a month earlier. After all the changes, October’s total truck transportation jobs of 1,578,600 is 30,600 fewer than the high-water mark of May, when the BLS reported 1,609,200 jobs.

J.B. Hunt expects to receive up to 15,00 0 trailers from Wabash in a multiyear supply agreement. (Photo: Wabash) Wabash is following through on its attempt to smooth out the boom-and-bust cycles in trailer making. It has signed a multiyear supply deal with J.B. Hunt Transport that will cover 15,000 trailers over coming years.8 min. The video is worth a thousand words: A tube of mascara arrives in a box that’s multiple times its size and swaddled in layers of packing material to protect what is hardly a fragile product. James Malley, co-founder and CEO of Paccurate.io, a New York-based company founded in 2020 to help businesses optimize their packaging to reduce ...An order was entered in a Delaware bankruptcy court Thursday naming less-than-truckload carrier Estes Express Lines’ $1.525 billion stalking horse bid as the winning offer of Yellow Corp.’s portfolio of owned terminals. Bid protections for Estes were also approved, including a $7.5 million breakup fee and expense reimbursement up to $1.6 ...It’s also not as easy to fix trucking as a slide deck might make it seem. The recent shutdown of Convoy, a digital freight brokerage established in 2015, shows that. Convoy enjoyed all the trappings of a runaway tech success. Its two co-founders, Dan Lewis and Grant Goodale, had Amazon and Ivy League credentials.You can find the Standard Carrier Alpha Code for a freight company at SCACCodeLookup.com. An alphabetized list of the most common SCAC codes is available at EDIProvider.com.Instead of standing in front of the meme revolution, he has put a bounty out for creators to grab. He tweeted, “FreightWaves is going to launch the first-ever ‘Freight Creator Contest’ at F3 next year with over $100K in cash prices.”. X. Meme a little meme — While more details about the contest will be released soon, I’m happy to ...Feb 22, 2023 · The naming ceremony of the 24,188-TEU OOCL Spain was held at China’s NACKS shipyard on Feb. 16. (Photo: OOCL) FreightWaves. ‘Colossal’ tidal wave of new container ships about to strike. 8 min. Here it comes. An unprecedented flood of new container ships is about to enter service. The pace of deliveries will pick up in earnest next month ... Transportation capacity (56.7) continued to increase in October but at a rate that was 7.6 percentage points lower than in September. The October reading was the slowest growth rate registered since March 2022. The capacity reading was just 52.3 in the back half of October compared to 60.6 at the beginning of the month.Jan 16, 2023 · 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.

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.

Nov 3, 2023 · The latest report, released Friday, revised the September truck transportation total down by 900 jobs, but the August total was cut 5,500 jobs from a month earlier. After all the changes, October’s total truck transportation jobs of 1,578,600 is 30,600 fewer than the high-water mark of May, when the BLS reported 1,609,200 jobs.

3 min. (Editor’s note: this article has been revised to reflect the fact the company had negative EBITDA of $23 million in the first quarter of this year.) Uber Freight managed to record a slightly improved fiscal performance in the third quarter compared to the second, with a small reduction in its EBITDA loss and an increase in revenue.Coyote Logistics, a wholly owned subsidiary of UPS Inc. ( NYSE: UPS ), is expected to announce Friday that it will lay off approximately 200 people, according to people familiar with the matter. It was not immediately clear where the layoffs will occur. At the end of January, rumors spread that layoffs would be concentrated on Coyote’s Large ...20 Jun 2023 ... In November's roundup of top banking news: Citigroup approaches newest wave of job cuts and managerial shifts, Truist Financial nearly doubles ...CWT in freight is calculated by dividing the total weight of a shipment by 100, since CWT means “cents per hundred pounds.” To calculate freight charges, multiply the applicable rate per unit of weight by the weight of the shipment.Combining data streams to combat illicit trade in container shipping. Officials from Nexxiot and Deloitte talk with FreightWaves in this Q&A about how combining data on container movements and a container’s financial streams can help ward off illicit trade. Read More ». Greg Miller Tuesday, October 17, 2023.Apr 5, 2023 · Of that total, 58% were inactive because vessels were in shipyards, with only 42% commercially idle. The amount of commercially idle tonnage peaked in mid-February at 850,417 TEUs. As of late March, Alphaliner data showed commercially idle tonnage was down to 606,943 TEUs. That’s a six-week drop of 242,474 TEUs or 29%. 4 min. Forward Air reported third-quarter adjusted earnings per share of 99 cents Monday after the market closed. The result was 12 cents light of consensus and 94 cents lower year over year (y/y). Forward ( NASDAQ: FWRD) pinned the miss on soft demand for its noncore intermodal and truckload brokerage services. In an astounding turn of events, freight rates started shooting up to previously unheard of levels. On the Trans-Pacific trade from Shanghai to US East Coast, rates shot up from an average of USD 2,500/ FEU in 2019 to over USD 15,000 in September 2021, while there also were instances of Carriers charging more than USD 20,000. ‍.The drastic fall in ocean rates is pulling many shipments back to the ocean mode, contributing to the decline in air volumes. The average November air cargo spot rate on the trans-Pacific lane was down 32% versus last year, to $5.82 per kilogram, but still 139% above the 2019 level.

Subscribe to our Classic Newsletters Newsletters that never seem to go out of style. Freightwaves Tech Newsletter (Tuesday | Weekly) Stay up to speed on the latest technology and trends impacting the freight industry with this weekly newsletter. Air Cargo Newsletter (Monday | Weekly) Get news, analysis and exclusive insights about the movement ...Then the news broke that one of the most iconic freight brokers to come out of the venture era of freight tech funding would fail on the same morning. Convoy was a victim of a violent commoditized industry that is facing one of its deepest recessions in decades and a sudden change in investor appetite from risk to unit economics. The “partial rivalry” scenario should sound very familiar to those following current developments in ocean shipping, most visibly in tanker shipping, but also in container and dry bulk shipping. Geopolitics is cleaving global shipping systems into two, with the U.S. and EU leading one side and China and Russia leading the other, and some ...Instagram:https://instagram. forex taxationnasdaq sfmibond current ratesbest stock charting software Nov 22, 2023 · GlobalX Airlines defies cargo trend with fleet strategy. Global Crossing Airlines, a 2-year-old hybrid carrier that provides supplemental airlift to customers that rent the entire plane, is taking a long-term view toward cargo expansion at a time when freight demand is very soft. American Shipper. Air Cargo. Eric Kulisch Wednesday, November 15 ... FreightWaves’ Greg Miller reported, “The global composite of Drewry’s World Container Index (WCI) fell 6% in the week ending Thursday versus the prior week, to $1,384 per forty-foot equivalent unit. The global composite has given back all of its gains since the beginning of Q4 and is now down 1% versus Oct. 1.”. X. cheniere energy inc stockapextraderfunding review Approximately 65 employees for Pittsburgh-based Elite Transit Solutions were laid off via Microsoft Teams on Friday. This is the second round of job cuts the freight brokerage has experienced over the past month; about 20 employees were let go on Oct. 20 because of the “current economic situation,” according to sources familiar with the ... funded trading accounts for options The FreightWaves Trusted Rate Assessment Consortium (TRAC) spot rate from Los Angeles to Dallas, arguably one of the densest freight lanes in the country, has seen a slowdown in its prior momentum. Over the past week, the TRAC rate fell 1 cent per mile to $2.08 — still some distance from its year-to-date high of $2.39.Air cargo diverted from Shanghai is disrupting freight operations at other Chinese airports, causing a shortage of pallets for exports, Chicago-based AIT Worldwide Logistics reported. Meanwhile, Shenzhen International Airport imposed a daily import cap of 250 tons, including 125 tons for perishable and temperature-controlled cargo from April 21 ...Apr 25, 2023 · The indexes, which are derived from surveys of carriers, brokers and shippers, measure near-term and longer-term profitability, workforce and business investment sentiment. For the first time since we started tracking sentiment in Q4 2022, an overall score has fallen into the negative. FreightWaves SONAR: NTI.USA (white) and NTIF.USA (green).