NEW YORK – The Benesch private equity in transportation conference held each December brings together a huge swath of key private equity, venture capital and general dealmakers focused for a full day of discussion on the state of the market for buying and selling logistics companies.
Formally the “Investing in the Transportation & Logistics Industry Conference,” the event has witnessed in its four years of existence (it informally succeeded a similar New York gathering) the strongest freight...
Steam Logistics is offering employees $2,000 to quit the company, avoiding the costs of layoffs even as it continues hiring new workers for its U.S. network.
The Chattanooga, Tennessee-based 3PL said it has offered the cash-for-quits program periodically for several years. But it usually attracts few takers. Employees received the latest offer via email this week.
“It’s simply an offer to anyone in the company, and it’s meant to help people move on if their heart is not in it for the long term at...
https://www.freightwaves.com/news/steam-logistics-offering-2000-cash-for-quits
On this episode of Rising Tides, Matt McLelland, vice president of innovation and sustainability at Covenant Transport, tries to figure out where everyone’s freight is.
He welcomes Joe Saggio, COO at Steam Logistics, to talk all about the current issues ports are facing. They hit on the question...
https://www.freightwaves.com/news/dude-wheres-my-freight-rising-tides
On this episode of Midday Market Update, Kaylee Nix and Michael Vincent dive into the deep possibilities of disruption in the maritime shipping world.
Starting with headlines, they outline a massive acquisition by TriumphPay, which CEO Jordan Graft says will fill out the company by adding a settlement process. Another trucking company has released details of planned driver pay raises, and two tanker companies have merged, pushing shipping stock prices down.
Market Expert Zach Strickland...
https://www.freightwaves.com/news/could-the-panama-canal-be-the-next-suez-midday-market-update
The Daily Dash is a quick look at what is happening in the freight ecosystem. In today’s edition, Schneider National plans to invest in new equipment in 2021 as it seeks to lower the age of its tractors. Plus, UPS CEO Carol Tomé talks about the sale of UPS Freight, and the world reacts to Jeff Bezos stepping down as CEO of Amazon.
Youth movementSchneider National (NYSE: SNDR) plans to invest in new equipment to lower the age of its trucks in 2021, using a cash balance to help fund the initiative.
Access America team reunited and ready to roll out domestic offering
Jason Provonsha and Steve Cox are getting the band back together. Provonsha, the chief executive officer at Chattanooga, Tennessee-based international freight forwarder Steam Logistics, and Cox, the company’s president, have been busy recruiting old teammates from their days at freight brokerage Access America as Steam prepares to launch its own domestic brokerage operation on April 1.
Steam was founded in late 2012 as the...
What maritime markets look like right now
Headlines
The Port of Los Angeles is willing to pay terminals for turning trucks quickly in order to get freight moved through the market. Currently imports far outweigh exports in the Port of LA and Micheal Vincent says this imbalance is a major efficiency killer for port operations.
U.S. Xpress has released its 2021 economic outlook and the company is forecasting fundamentals from 2020...
https://www.freightwaves.com/news/congestion-on-the-high-seas-midday-market-update