Less than Truckload (LTL) News

NMFTA names Ray West COO

The National Motor Freight Traffic Association Inc. (NMFTA) the group representing the less-than-truckload industry, said Wednesday it has named Ray West its chief operating officer.

As head of NMFTA’s daily operations, West will oversee the group’s four main functions: digital operations, cybersecurity, management of the long-standing model that determines LTL prices by the commodity’s classification, and administration of the Standard Carrier Alpha Codes, four-digit codes that are generally...

https://www.freightwaves.com/news/nmfta-names-ray-west-coo

Truckload rates ‘tumbling’ in Q2, report says

A predictive rate index released Tuesday showed truckload pricing “tumbling” further in the second quarter while less-than-truckload rates stabilize from a “sharp drop” in the first quarter.

The TD Cowen/AFS Freight Index — a compilation of data from third-party logistics provider AFS Logistics and investment bank TD Cowen (NYSE: TD) — showed excess truck capacity and soft demand had carriers competing for loads, driving rates lower during the first quarter.

The index captures trends from AFS...

XPO positive on LTL focus, investments amid rocky market

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XPO has seen some major growth over the last year since the company announced its plan to divide its tech-enabled brokerage services into its own business, with the core of its business evolving to a stand-alone, purely less-than-truckload carrier serving 99% of ZIP codes in North America.

During April 3’s WHAT THE TRUCK!?! Ali Faghri, chief strategy officer at XPO, shared how the move has already brought value to its...

https://www.freightwaves.com/news/xpo-positive-on-ltl-focus-investments-amid-rocky-market

1 analyst cautious, 1 optimistic following One FedEx announcement

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Not every analyst is head over heels over FedEx Corp.’s announcement Wednesday that it will...

https://www.freightwaves.com/news/strong1-analyst-cautious-1-optimistic-following-one-fedex-announcementstrong

ArcBest names new CFO

Transportation and logistics provider ArcBest announced Thursday that finance veteran Matt Beasley will take over as chief financial officer on May 14. He will also retain his current role as the company’s treasurer.

Beasley has more than 20 years of experience in areas including investor relations, risk management and financial planning and analysis. Prior to joining ArcBest (NASDAQ: ARCB) a year ago, he held executive leadership positions in the energy infrastructure sector.

“Matt is a...

FedEx combining main units — except LTL — into 1 organization

In unarguably one of the most important moves in its history, FedEx Corp. said Wednesday it will combine three of its operating units, including its two largest, into one business known as Federal Express Corp.

The transition will bring FedEx’s (NYSE: FDX) air, ground parcel and FedEx Services businesses under one umbrella, effective June 1, 2024. FedEx Freight, the company’s LTL operation, will continue to operate as a stand-alone entity within the new corporation. The company didn’t explain...

https://www.freightwaves.com/news/fedex-combining-main-units-except-ltl-into-1-organization

FedEx to combine all but LTL into 1 organization

In arguably one of the most important moves in its history, FedEx Corp. said Wednesday it will combine most of its operating units into one business known as Federal Express Corp.

The transition will bring FedEx’s air, ground parcel and other operating business under one umbrella, effective June 1, 2024. FedEx Freight, the company’s LTL operation, will continue to operate as a stand-alone entity within the new corporation.

FedEx Corp.’s CEO Raj Subramaniam will run the new enterprise, the company...

https://www.freightwaves.com/news/fedex-to-combine-all-but-ltl-into-one-organization

Yellow blames Teamsters leadership for negotiating in ‘bad faith’

In a letter to the International Brotherhood of Teamsters, less-than-truckload carrier Yellow Corp. called on union officials to “dispense with the posturing” and engage in a “serious discussion” about a planned change of operations (COO).

The Thursday letter, obtained by FreightWaves, from Yellow’s head of trucker relations Bryan Reifsnyder to Teamsters National Freight Director John Murphy, cried foul on a recent communication from Teamsters leadership to the rank and file. A Wednesday letter...

Teamsters tell Yellow no more purchased transportation

The Teamsters union has notified less-than-truckload carrier Yellow Corp. that it can no longer use outside transportation capacity to move its freight, according to a document obtained by FreightWaves.

Friday’s letter from John Murphy, Teamsters National Freight Industry Negotiating Committee co-chair and Teamsters national freight director, to Bryan Reifsnyder, Yellow’s head of trucker relations, said required 30-day notice was being given “that the use of purchased transportation is no longer...

What is NMFTA and what does it do?

The National Motor Freight Traffic Association (NMFTA) is a nonprofit trade group that publishes the National Motor Freight Classification (NMFC). The NMFC is essentially a coding system that universally identifies differences in commodities for freight shipments being transported interstate, intrastate and abroad.

Freight classes and codes are determined by “density, handling, stow-ability and liability,” establishing the “transportability” of a commodity, the organization states.

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