Open-deck transportation marketplace EXO Freight closed its Chattanooga, Tennessee, office Tuesday, laying off 19 employees, including a few from its spot brokerage team in Royal Oak, Michigan, who were mainly operations-focused, co-founder and CEO Kurtis Tryber told FreightWaves.
Tryber said it was an intentional move by the company to pivot from covering unprofitable spot market freight through its brokerage to utilizing its specialized marketplace and fintech solutions for managed...
After severe storms and tornadoes ripped through Texas on Monday, other parts of the South were next in line. Building back in heavily damaged areas will increase demand for construction materials and flatbed capacity to truck those goods.
#Tornado damage on Rose St in Arabi. pic.twitter.com/OwyEpNtOA0
— St. Bernard Parish (@StBGov) March 23, 2022
People continue to pick through debris after tornadoes struck the New Orleans area Wednesday, killing at least one person and leaving thousands...
https://www.freightwaves.com/news/tornadoes-across-south-may-further-strain-flatbed-capacity
Flatbed truckload provider Daseke (NASDAQ: DSKE) announced Wednesday it has favorably refinanced its term loan. The transaction lowers the outstanding balance, reduces annual interest payments and extends the maturity.
The $484 million loan was paid down to $400 million with available cash on hand and the maturity has been extended by four years to March 2028. The new loan has an interest rate of LIBOR plus 400 basis points, 100 bps lower than the previous loan. The interest rate floor was also...
https://s29755.pcdn.co/news/daseke-turnaround-brings-loan-refi-interest-expense-reduction