The logistics industry has undergone a technological revolution in recent years, leading to a whirlwind of innovation and modernization. The freight industry’s options for shipping goods on pallets, however, have remained largely unchanged for the past several decades.
Historically, companies have had two shipping options: less-than-truckload or truckload. Both tend to require some level of sacrifice from the shipper.
When moving goods via LTL, shippers accept that unpredictable fees and...
Universal Logistics Holdings Inc. surpassed Wall Street expectations in the fourth quarter, despite revenue decreases across the firm’s trucking, intermodal and brokerage segments.
“The outlook for 2024 remains a bit murky with a variety of signals from various market verticals,” Tim Phillips, CEO of Universal Logistics Holdings, said in a call with analysts on Friday. “We’re not ready to predict a rise in volume from the current environment. We can explore potential pathways through the lens of...
googletag.cmd.push(function() { var gptSlot = googletag.defineSlot(‘/21776187881/FW-Responsive-Main_Content-Slot1’, [[728, 90], [468, 60], [300, 100], [320, 50]], ‘div-gpt-ad-b1-i-fw-ad-1’).defineSizeMapping(gptSizeMaps.banner1).setCollapseEmptyDiv(true).addService(googletag.pubads());
gptAdSlots.push(gptSlot);
});
googletag.cmd.push(function() { googletag.display(‘div-gpt-ad-b1-i-fw-ad-1’); });
Covenant Logistics Group reported adjusted earnings per share of $1.07 for the fourth quarter...
https://www.freightwaves.com/news/covenant-logistics-optimistic-despite-7-4-drop-in-q4-revenue
Amazon Freight has pivoted to a more regionalized network model in response to the changing consumer landscape, Amazon Freight Director Rebecca Salt told Rachel Premack, FreightWaves editorial director, at the F3: Future of Freight Festival.
This shift means products are closer to customers, enabling quicker deliveries and a reduction in transportation miles — a win for both service efficiency and environmental impact.
The company has also significantly expanded its network, now boasting more...
https://www.freightwaves.com/news/how-amazon-freights-customer-first-ethos-is-changing-the-industry
The transportation industry is plagued with waste. In fact, nearly half of the heavy-duty trucks on the road at any given time are carrying less than half the inventory they were designed to hold. This means that about 25% of available truck space is wasted on a day-to-day basis.
This year has been financially precarious for the transportation industry, and these high percentages of wasted space contribute to ongoing economic headwinds for shippers and carriers alike. When a truck is running...
As the trucking industry continues to slog through its toughest downturn since the 2008 financial crisis, analysts have pointed out a slow shift in market trends. Hard-hit carriers have been buoyed by these glimmers of hope in recent months, but the timing of a true market upswing remains difficult to pin down.
This much-anticipated market shift is likely inevitable, although its timing and shape is still unclear.
Some experts expected to see a significant rate jump by the fourth quarter of 2023,...
Covenant Logistics Group said its third quarter results were hampered by a weak freight market, but executives said they remain optimistic about the company’s “resilient operating model.”
Chattanooga, Tennessee-based Covenant (NASDAQ: CVLG) reported adjusted earnings per share of $1.13 in the quarter, 1 cent shy of the consensus estimate.
The truckload transportation services provider posted third-quarter revenue of $288.7 million, missing analysts’ revenue prediction of $293 million for the...
One of the freight industry’s most unique startups just got a major cash injection.
Less-than-truckload booking platform MyCarrier on Tuesday announced that it had raised $22 million in a Series B funding round led by NewRoad Capital Partners.
The Scottsdale, Arizona-based company plans to use the money to expand its services beyond LTL and full-truckload shipments, targeting the multimodal space.
“From the beginning, our vision and approach were based on strong partnering, working hand in hand...
https://www.freightwaves.com/news/freight-shipping-platform-mycarrier-raises-22m-in-series-b
This fireside chat recap is from Day 2 of FreightWaves LIVE @HOME.
FIRESIDE CHAT TOPIC: How sustainability initiatives are driving shipper strategies
DETAILS: Jim Nicholson and FreightWaves’ Zach Strickland discuss how shippers have modified their strategies over the past year with an increasing focus on sustainability and improving compliance.
SPEAKER: Nicholson is the vice president of operations at Loadsmart.
BIO: Nicholson leads the carrier team in servicing partnerships with more than 30,000...
https://www.freightwaves.com/news/freightwaves-live-recap-sustainability-shapes-shipper-strategies
Flock Freight’s business model is built on sustainability and reducing greenhouse gas (GHG) emissions in the freight industry. The company announced Tuesday that it will offset 100% of carbon emissions for FlockDirect customers for free in 2021 to achieve carbon neutrality.
“We are the only company in the world that uses technology to fundamentally change the way freight moves,” Oren Zaslansky, founder and CEO, said in an interview with FreightWaves.
While many companies use technology to...
https://www.freightwaves.com/news/flock-freight-to-offset-100%-of-flockdirect-carbon-emissions