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3PL Summit keynote: ‘Cat is out of the bag’ on supply chain importance

With barely six months behind her as president and CEO of the Transportation Intermediaries Association, Anne Reinke has a major goal in front of her: to “amplify” advocacy at TIA.

“The pandemic did a lot of things for a lot of people, but one of the unintended consequences is that it made the supply chain somehow known and understood better,” Reinke said during her keynote address at FreightWaves’ 3PL Summit on Wednesday.

“I think TIA and brokerage generally flew under the radar for a long time,...

https://s29755.pcdn.co/news/reinke-reveals-drive-to-expand-advocacy-for-brokers-and-3pls

Interest in visibility solutions fuels $100M funding round for FourKites

FourKites’ rapid growth in 2020 and demand for its real-time supply chain visibility products has enabled it to land a new round of funding. The company on Wednesday announced a $100 million Series D round with financing led by Thomas H. Lee Partners L.P., with participation from Qualcomm Ventures LLC, Volvo Group Venture Capital AB and Zebra Technologies, as well as existing investors August Capital, CEAS Investments, Hyde Park Angels, Hyde Park Venture Partners and Bain Capital Ventures.

Its...

https://www.freightwaves.com/news/interest-in-visibility-solutions-fuels-100m-funding-round-for-fourkites

Will US Uber drivers benefit from UK reclassification decision?

Uber reclassifies UK drivers as workers

Uber’s (NYSE: UBER) decision on March 17 to reclassify approximately 70,000 Uber Rides drivers in the U.K. as “workers” — a step closer to what U.S. businesses would consider employees and away from the independent contractor category — was not unexpected, but it leaves plenty of unanswered questions for the rideshare community on both sides of the Atlantic.

The decision by the global ride-hailing giant followed a February ruling by the U.K. Supreme Court upholding a lower court’s decision that...

https://s29755.pcdn.co/news/will-us-uber-drivers-benefit-from-uk-reclassification-decision

Self-driving truck startup TuSimple files for public ownership

Self-driving truck startup TuSimple filed on Tuesday to become a public company. It is seeking to sell at least $100 million in shares.

Tu Simple filed its paperwork confidentially with the Securities and Exchange Commission (SEC) in December. The SEC completed its review, clearing the way for TuSimple to list on the NASDAQ Global Select Market under the ticker TSP as soon as next month. The filing left blank how many shares would be issued and at what price.

TuSimple chose to go public through a...

https://s29755.pcdn.co/news/self-driving-truck-startup-tusimple-files-for-public-ownership

Evergreen container ship blocks Suez Canal traffic

Tweets of a ship “stuck sideways” in the Suez Canal may prompt skepticism. And then one sees the images. Indeed, a container ship is stuck sideways in the Suez Canal blocking both northbound and southbound traffic. 

The Ever Given is blocking traffic in the Suez Canal. (Image: MarineTraffic)

The ultra large container ship Ever Given has a carrying capacity of 20,000 twenty-foot equivalent units (TEUs) and was en route from Yantian, China, to the Port of Rotterdam in the Netherlands when it...

https://s29755.pcdn.co/news/evergreen-container-ship-blocks-suez-canal-traffic

Could America’s historic import crunch get even worse?

import containers

The number of container ships at anchor off California is down from the all-time high, but that doesn’t necessarily mean the U.S. import boom is winding down.

“If you think the worst is over, be cautious,” warned Michael Braun, vice president of customer solutions at Norway-based Xeneta, a company that tracks container contract rates. “In some cases, it could stay as difficult or get worse — especially in the U.S.,” said Braun during an online presentation Tuesday.

“It is more and more clear that...

https://www.freightwaves.com/news/could-americas-historic-import-crunch-get-even-worse

BorgWarner plans 15X growth in electrification revenue by 2030

BorgWarner Inc. (NYSE:BWA) plans to grow its electric vehicle revenue from less than 3% to about 45% of its top line by 2030. The Tier 1 supplier will shed existing businesses worth up to $4 billion to get there.

The Michigan-based supplier last October completed a $3.3 billion acquisition of Delphi Technologies, once part of the world’s largest automotive supplier. In February, it announced an $880 million takeover of European battery maker AKASOL.

“Now is the time to move away from a balanced...

https://www.freightwaves.com/news/borgwarner-plans-15x-growth-in-electrification-revenue-by-2030

Port of Los Angeles outlines spending plans for new tax funds

The Port of Los Angeles plans to take advantage of changes made to a tax aimed at maintaining harbor depths by using it to fund upgrades needed to accommodate the port’s growing cargo and cruise ship business.

Testifying Tuesday at a subcommittee of the House Transportation and Infrastructure Committee, Port of Los Angeles Executive Director Gene Seroka said that the historical defined uses of the Harbor Maintenance Trust Fund (HMTF) prevented the port from accessing those monies – even though...

https://www.freightwaves.com/news/port-of-los-angeles-outlines-spending-plans-for-new-tax-funds

Is Carol robbing Peter to pay Paul?

In her first 10 months as UPS Inc.’s (NYSE:UPS) CEO, Carol Tomé has shaken the Big Brown oak with a ferocity unprecedented in the company’s history. Her moves have been wide-ranging, quick-hitting and counter to the “all-deliberate-speed” and paternalistic mentality that characterized UPS’ culture for nearly 114 years.

The early results of Tomè’s stress test have been positive. UPS has reported two blowout quarters since she took over June 1. UPS’ share price, which has been a major...

https://s29755.pcdn.co/news/is-carol-robbing-peter-to-pay-paul

Truckstop.com acquires carrier compliance firm RMIS

Online load board and digital freight marketplace Truckstop.com announced Monday the acquisition of RMIS, the Westlake Village, California-based carrier compliance automator.

RMIS’ capabilities — the most important of which is fulfilling 98% of freight brokers’ requests for carrier certificates of insurance within 60 seconds — will augment SaferWatch, a similar carrier onboarding solution acquired by Truckstop in 2018.

“There are two primary reasons why we did the deal and why we’re excited about...

https://s29755.pcdn.co/news/truckstop-com-acquires-carrier-compliance-firm-rmis

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