The Daily Dash is a quick look at what is happening in the freight ecosystem. In today’s edition, executives at Landstar System see a strong truckload market through midyear, but a cooling could happen in the second half of the year. Plus, at least one consultant believes the Biden administration will take a look at regulating driver detention, and Werner has sold its freight forwarding business.
End of the runStrength in truckload demand has held up through the first few weeks of 2021,...
The Daily Dash is a quick look at what is happening in the freight ecosystem. In today’s edition, TFI International CEO Alain Bedard praised the Teamsters long before the company announced the acquisition of the unionized UPS Freight. Plus, Marten and Knight-Swift both posted strong earnings results in Q4, and the Biden administration has revoked a Department of Labor opinion letter on employee classification.
Laying the groundworkTFI International (NYSE:TFII) CEO Alain Bedard may have been...
https://www.freightwaves.com/news/the-daily-dash-tfi-the-teamsters-and-their-new-relationship
A proposal to make drug testing using hair mandatory in trucking is nearly ready for public comment after being reviewed and approved by the White House Office of Management and Budget, regulators have confirmed.
“It has been a pretty lengthy review process, but I think we are at a point now where it is at the Federal Register, hopefully with publication dates being set,” said Ron Flegel, chairman of the Drug Testing Advisory Board (DTAB) within the Substance Abuse and Mental Health Services...
https://s29755.pcdn.co/news/mandatory-hair-testing-proposal-almost-ready-for-rollout
The Daily Dash is a quick look at what is happening today in the state of freight.
Freight volumes continue to rip through the summer
The outbound tender volume index (OTVI) continues to rip higher. Last week freight volumes were up 25% from 2019. Load volumes ramped up again this week another 2.4% and are now up over 27% from last year. No one knows how long freight will continue to break new records; only time will tell.
Seth Holm has more in his weekly freight market wrap-up:Volumes just...
https://s29755.pcdn.co/news/the-daily-dash-freight-volumes-paint-picture-of-a-stronger-third-quarter
The Daily Dash is a quick look at what is happening in the freight ecosystem. In today’s edition, reports suggest that autonomous truck startup TuSimple is not meeting revenue projections, Knight-Swift continues a trend of better-than-expected second-quarter earnings results, a long-running court battle concludes, and how innovative fleets are benefiting from open technology platforms.
Just a little short
Autonomous truck startup TuSimple is not meeting its revenue projections, according to a...
The transportation team at Bank of America Merrill Lynch (BOAML) is bullish on trucking stocks, raising the price objectives on a handful of them by several dollars per share.
The team led by Ken Hoexter based its increase in price objective (PO) on “the inflecting demand and spot rate environment.” It did not increase its buy/neutral/sell recommendation on any stocks.
Getting an upward kick from the BOAML team was Knight-Swift (PO now $49, was $46, stock closed earlier this week at $43.05);...
https://s29755.pcdn.co/news/merrill-lynch-boosts-knight-swift-j-b-hunt-and-arcbest