Plus scores SPAC deal as Wall Street sizes up TuSimple prospects

Self-driving truck software developer Plus signed a definitive agreement Monday to merge with special purpose acquisition company (SPAC) Hennessey Capital V in a deal expected to bring $500 million in cash and a $3.3 billion valuation to Plus in Q3.

Hennessey is a veteran creator of shell companies funded by “blank check” investors seeking to profit from merging with a startup or early-stage company. Hennessey sponsored the public debuts of flatbed logistics company Daseke Inc. (NASDAQ: DSKE) in...

https://www.freightwaves.com/news/plus-scores-spac-deal-as-wall-street-sizes-up-tusimple-prospects

New air cargo service connects China to Mexico City

Aeroméxico Cargo launched a route Saturday between Wuhan, China, and Mexico City, becoming the first regular service from the Chinese mainland to Latin America, according to a release.

The twice-a-week service could handle as much as 3,500 metric tons of cargo annually between Wuhan-Tianhe International Airport and Mexico City International Airport.

“The growth of e-commerce, the transport of medical supplies and high-technology products from [Wuhan] to the rest of the world has been exponential...

https://s29755.pcdn.co/news/new-air-cargo-service-connects-china-to-mexico-city

EKA Solutions adds functionality to Omni-TMS platform

For growing third-party logistics (3PLs) companies, the ability to quickly onboard personnel is critical to continued success. That includes getting up to speed quickly on various technologies.

For Yeti Logistics, a Women’s Business Enterprise National Conference-certified 3PL based in Iowa City, Iowa, that means working with technology partners that offer solutions that can be implemented quickly and are easy to train on. Yeti has found that combination with EKA Solutions’ Omni-TMS platform.

“We...

https://s29755.pcdn.co/news/eka-solutions-adds-functionality-to-omni-tms-platform

Colonial Pipeline outage: What to watch for in diesel markets Monday

As the oil markets enter day three of the shutdown of the Colonial Pipeline following a cyberattack, here’s a Monday morning catch-up primer on what is going on.

— The price of ultra low sulfur diesel (ULSD) on the CME commodity exchange is higher Monday morning, but not by a large amount. At approximately 7:45 a.m. Eastern time, it was up 2.56 cents per gallon, or 1.27%, to $203.62/g. It had been as high as $2.0776/g since trading kicked off Sunday evening U.S. time.

–The Federal Motor Carrier...

https://s29755.pcdn.co/news/colonial-pipeline-outage-what-to-watch-for-in-diesel-markets-monday

Borderlands: Descartes Datamyne report sheds light on USMCA impact

Borderlands is a weekly rundown of developments in the world of United States-Mexico cross-border trucking and trade. This week: Descartes Datamyne report sheds light on USMCA impact; Germany’s Bosch to invest $100M in Mexico operations; Chinese auto parts maker begins construction of Mexico plant; and Kimberly-Clark de México acquires 65 trucks.

Descartes Datamyne report sheds light on USMCA impact

Implementation of the United States-Mexico-Canada Agreement (USMCA) largely took a back seat to...

https://s29755.pcdn.co/news/descartes-datamyne-report-sheds-light-on-usmca-impact

What will CVSA inspectors be checking during Operation Safe Driver Week?

Truck drivers and fleets have two months to prepare for the Commercial Vehicle Safety Alliance’s (CVSA) annual Operation Safe Driver Week, which is set for July 11-17.

CVSA said inspectors throughout North America will focus on speeding and unsafe driving, including distracted driving, making improper lane changes, failing to use a seat belt and driving while impaired.

“Data shows that traffic stops and interactions with law enforcement help reduce problematic driving behaviors,” CVSA President...

https://s29755.pcdn.co/news/what-will-cvsa-inspectors-be-checking-during-operation-safe-driver-week

Colonial Pipeline, key source of diesel for eastern seaboard, closed due to cyberattack

Diesel markets could be on the verge of a significant upward move when trading kicks off Sunday evening in the U.S. following the closure of the Colonial Pipeline.

The pipeline, which carries diesel, gasoline and jet fuel from the U.S. Gulf Coast area through the Southeast and Mid-Atlantic on their way to a terminus in New York, was closed Friday because of a cyberattack, according to media reports.

A statement released midday Saturday, updating an earlier statement released Friday, said the...

https://s29755.pcdn.co/news/colonial-pipeline-key-source-of-diesel-for-eastern-seaboard-closed-due-to-cyberattack

Newly public Lion Electric will build electric trucks in Illinois

On its first day of public trading, Canada’s Lion Electric Co. made good on a pledge to expand manufacturing in the U.S., investing  $70 million to convert a partially finished warehouse in Joliet, Illinois, into a plant to build electric trucks and buses.

At least 745 new jobs are expected to be created over the next three years.

Lion, based in St. Jerome, Quebec, is expected to receive about $490 million after expenses in a business combination completed Thursday with Northern Genesis...

https://s29755.pcdn.co/news/newly-public-lion-electric-will-build-electric-trucks-in-illinois

Going farther: Nikola claims superior Class 8 electric driving range

Nikola Corp. (NASDAQ: NKLA) is showing its battery-electric Class 8 Tre prototype to fleets, seeking launch customers who want more than one or two trucks to test.

The Phoenix-based startup is sticking with its estimate of delivering 50 to 100 Class 8 battery-electric trucks in the fourth quarter. But CEO Mark Russell, speaking on a Q1 earnings call Friday, said supply constraints for a variety of parts could reduce that number. Microchips  and touchscreens are particular concerns.

“We’ve...

https://www.freightwaves.com/news/going-farther-nikola-claims-superior-class-8-electric-driving-range

FreightWaves Classics: I-5 runs from Mexico to Canada (Part 1 – California)

Traffic on I-5. (Photo: Shutterstock)

Overview

There are 70 primary interstate highways in the Dwight D. Eisenhower National System of Interstate and Defense Highways (commonly known as the Interstate Highway System, or IHS) is a network of freeways in the United States. The oldest parts of the interstate system date back to the 1950s, and the planning for the system began prior to World War II. To learn more about their history, read previous FreightWaves Classics articles here, here and here.

In this article and future articles,...

https://www.freightwaves.com/news/freightwaves-classics-i-5-runs-from-mexico-to-canada-part-1-california

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