Less than truckload freight

LTL carriers urged to prepare for peak season, pandemic, political tension

Less-than-truckload (LTL) carriers are holding their breath as the stage has been set for a challenging conclusion to 2020. A perfect storm of macro-level factors is expected to rock the final two months of the year, which may impact business continuity for both domestic and internationally focused carriers.

Donna Kintop, senior vice president of client experience in North America at DDC FPO, urges LTL carriers to plan wisely and prepare for anything. For starters, she recommends solidifying a...

https://www.freightwaves.com/news/ltl-carriers-urged-to-prepare-for-peak-season-pandemic-political-tension

Flock Freight fills empty spaces in ‘full’ truckloads

Flock Freight fills empty spaces in ‘full’ truckloads (Photo: Jim Allen/FreightWaves)

The less-than-truckload (LTL) segment is a $65 billion-a-year industry in the U.S., with roughly 165 million LTL shipments hauled across the country. However, what is strikingly evident to every shipper within the market is that LTL movement is vastly more inefficient than the much larger truckload industry. 

This is apparent when the segments are compared across key service parameters. LTL’s on-time pickup rate is around 70%, whereas the truckload segment achieves on-time pickup over 96% of the...

https://s29755.pcdn.co/news/flock-freight-fills-empty-spaces-in-full-truckloads

Forward’s less-than-truckload service added to more terminals

Forward Air truck on highway

Forward Air (NASDAQ: FWRD) continues to make good on its pledge to “not wait” and “remove ceilings” on the advancement of its growth initiatives.

In a Monday press release, the Greeneville, Tennessee-based trucking company said it was expanding its traditional less-than-truckload (LTL) offering to include Columbia, Missouri, and Roanoke, Virginia. The company plans to offer the service out of its existing final-mile terminals in those two markets.

The carrier first laid out plans to offer LTL...

https://s29755.pcdn.co/news/forwards-less-than-truckload-service-added-to-more-terminals

Less-than-truckload turning positive in August

Unidentified LTL rig on highway

A couple of reports from less-than-truckload carriers show trends are beginning to turn positive on a year-over-year comparison.

Old Dominion Freight Line (NASDAQ: ODFL) reported a modest increase in revenue per day for the month of August. The Thomasville, North Carolina-based carrier said in a Thursday press release the metric was up 1.3% compared to August 2019. In its second-quarter filing, the company reported a 2.9% year-over-year revenue decline during July, following an 11.4% drop in...

https://s29755.pcdn.co/news/less-than-truckload-turning-positive-in-august

LTL carriers should improve efficiency in times of uncertainty

It’s already been a year chock-full of uncertainty for less-than-truckload carriers as each month has presented its own sets of challenges. Truckload capacity in August continues to tighten, as outlined in SONAR’s U.S. Outbound Reject Index (OTRI.USA), an upward trend that has subsisted since late April. 

In fact, entering August, U.S. capacity tightened beyond what was seen in March when consumers flocked to stores in anticipation of the health crisis. As of Monday, outbound tender rejects...

https://s29755.pcdn.co/news/ltl-carriers-should-improve-efficiency-in-times-of-uncertainty

Carriers may face penalties, shutdowns under Virginia COVID-19 regs

Virginia recently became the first state to impose enforceable COVID-19 safety requirements in the workplace — not just guidelines — which has the trucking industry scrambling to figure out how the new law will affect drivers and operations.

The final rule, made public July 17 by the Virginia Department of Labor and Industry (DOLI), applies to broad sections of private industry, including trucking.

All companies based in Virginia will be required to classify employees by risk level (very high,...

https://s29755.pcdn.co/news/carriers-may-face-penalties-shutdowns-under-virginia-covid-19-regs

FreightWaves Flashback 1955: Shipside to Chicago in three nights

The many industries that make up the world of freight have undergone tremendous change over the past several decades. Each Friday, FreightWaves explores the archives of American Shipper’s nearly 70-year-old collection of shipping and maritime publications to showcase interesting freight stories of long ago.

The following is an excerpt from the July 1955 edition of The Jacksonville Seafarer.

Shipside to Chicago in three nights

New and stronger ties between the Port of Jacksonville and the fertile...

https://s29755.pcdn.co/news/freightwaves-flashback-1955-shipside-to-chicago-in-three-nights

Shares of YRC Worldwide sink on weak midquarter report

YRC LTL rig on highway

YRC Worldwide (NASDAQ: YRCW) has provided a brief update on shipping and yield metrics for the first two months of the second quarter of 2020, and the numbers raise concerns.

In a press release, the Overland Park, Kansas-based less-than-truckload (LTL) carrier reported an 18.6% year-over-year tonnage-per-day decline through the first two months of the quarter with revenue per hundredweight, or yield, declining 6.3%.

The carrier reported a 22.6% year-over-year decline in April tonnage with yield...

https://s29755.pcdn.co/news/shares-of-yrc-worldwide-sink-on-weak-midquarter-report

April the bottom for less-than-truckload?

Old Dominion triple on highway

Old Dominion Freight Line (NASDAQ: ODFL) reported a 16.2% year-over-year decline in revenue per day during May as tonnage declined 12.1% and revenue per hundredweight, or yield, moved lower.

The less-than-truckload (LTL) carrier reported the May tonnage decline was the combination of a 16.7% decline in shipments, partially offset by a 5.4% increase in weight per shipment.

So far through the second quarter of 2020, revenue per hundredweight is down 4.7% year-over-year, 1.4% lower excluding fuel...

https://s29755.pcdn.co/news/april-the-bottom-for-less-than-truckload

Today’s Pickup: Flock Freight reaches 12,000 pooled shipments

Good day,

Flock Freight, a logistics tech company that enables scaled freight pooling (the process of combining multiple loads onto one truck), today announced it has pooled more than 12,000 total shipments.

Additionally, Flock Freight’s hubless pooling product, FlockDirect, attracted new customers in 2020, including Berlin Packaging, Blue Diamond Almonds, Mueller Industries, Nature’s Bounty, and Tuft & Needle.  

Founded in 2015,  Flock Freight’s hubless pooling technology utilizes proprietary...

https://s29755.pcdn.co/news/today

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