Truckload

The Log Book: J.B. Hunt awards $250,000 in scholarships to employees’ relatives

The Log Book is a weekly rundown of human-interest stories related to the transportation industry. This week: J.B. Hunt launches a scholarship program for employee dependents and grandchildren, Maersk’s rainbow container is enjoyed by employees in Cape Town, South Africa, and Schneider receives its 14th Ride of Pride truck.

J.B. Hunt awards $250,000 in scholarships to employees’ relatives

J.B. Hunt Transport Services Inc. announced Tuesday it has started a company scholarship program, the J.B....

https://www.freightwaves.com/news/the-log-book-jb-hunt-awards-250000-in-scholarships-to-employees-relatives

Cass: September increase in shipments a head fake

Multiple trucks on the highway

Both freight shipments and costs stepped higher year over year (y/y) in September, according to Cass Information Systems. However, the comps become more formidable moving forward as the freight economy distances from record levels.

Shipments increased 4.8% y/y in September but were 2.9% lower than August levels. The shipments component of the Cass Freight Index reached a more than four-year high in August.

“U.S. freight volumes continued to exceed low expectations in September with more buoyant...

https://www.freightwaves.com/news/cass-september-increase-in-shipments-a-head-fake

Truckload market loosens again as tender rejections touch new low

By now, most industry observers and analysts agree that the U.S. truckload market has slowed significantly, part of a broader goods normalization and hangover in our COVID-recovery. Multiple spot rate benchmarks have been falling for months; capacity metrics have loosened. Accepted contract loads (CLAV.USA) peaked in October 2021 and just took a sharper turn downward. 

National outbound tender rejections (OTRI.USA), which measure the percentage of truckload shipments tendered by shippers that...

https://www.freightwaves.com/news/truckload-market-loosens-again-as-tender-rejections-touch-new-low

Bison Transport acquires 2nd Maine-based carrier

A Bison Transport tractor-trailer on the highway.

Canadian carrier Bison Transport announced Wednesday it will be acquiring Pottle’s Transportation on Oct. 31. Financial terms of the transaction were not provided.

Hermon, Maine-based Pottle’s operates a truckload fleet of more than 200 tractors and 750 trailers through the U.S. Northeast. It also has a logistics offering and provides yard management and warehousing services. The more than 60-year-old company is a second-generation family-owned business.

“We are excited about the next step in our...

https://www.freightwaves.com/news/bison-transport-acquires-2nd-maine-based-carrier

TA Services adds West Coast brokerage in latest deal

A red tractor pulling an unidentified trailer on the highway

Texas-based 3PL TA Services announced it has acquired California-based KPI Logistics. Financial terms of the deal were not provided.

KPI is a multimodal 3PL focused on truckload, less-than-truckload and flatbed brokerage services throughout North America. The 12-year-old company also provides managed transportation services.

“KPI’s highly experienced leadership and dedicated employees are a great fit for TA Services,” said TA Services CEO and President Scott Schell in a news release. “This...

https://www.freightwaves.com/news/ta-services-adds-west-coast-brokerage-in-latest-deal1

Transportation market loosened as September progressed

Multiple trucks on the highway

Transportation capacity increased for a sixth consecutive month in September with prices falling for a third straight time, according to data released Tuesday.

The Logistics Managers’ Index (LMI), which is produced using responses from a monthly survey measuring supply chain activity, showed the transportation capacity subindex jumped 7.5 percentage points to 71.8 in the recent month. This was the second-highest level recorded in the six-year history of the data set and 48 points higher than the...

https://www.freightwaves.com/news/transportation-market-loosens-as-september-progresses

Werner acquires Baylor Trucking in latest deal

A white Werner tractor-trailer on the highway

Werner Enterprises announced Monday the acquisition of Indiana-based truckload carrier Baylor Trucking. Financial terms of the transaction were not provided but a news release outlining the deal showed Baylor generated $81.5 million in revenue for the 12 months ended Aug. 31.

Baylor is a 75-year-old company operating 200 trucks, 980 trailers and two terminals throughout the eastern and southern parts of the central U.S. The carrier’s 234 drivers haul mostly dry van freight through one-way and...

https://www.freightwaves.com/news/werner-acquires-baylor-trucking-in-latest-deal

Daseke announces share buyback following activist’s encouragement

A flatbed rig on the highway

After sagging performance in its shares, flatbed truckload operator Daseke announced Friday that it would repurchase up to $40 million of its stock.

The stock will be repurchased from “time to time” in the open market or by using a Securities and Exchange Commission Rule 10b5-1 plan, which sets the schedule and amount of trading in advance. The company said it will use cash on hand to fund the program.

Shares of Daseke (NASDAQ: DSKE) were up 14.6% on Friday at 12:41 p.m. EDT compared to the S&P...

https://www.freightwaves.com/news/daseke-announces-share-buyback-following-activists-encouragement

The Log Book: Driver receives renovated rig, hopes for more trucker salutes

The Log Book is a weekly rundown of human-interest stories related to the transportation industry. This week: A Georgia driver fighting for more women in the industry receives a renovated cab from Transfix and a safety nonprofit teaches pedestrians and drivers about the dangers of trespassing onto train tracks.

Real Women in Trucking member receives rig makeover

In honor of National Truck Driver Appreciation Week, freight platform Transfix announced last week it was holding its second annual...

https://www.freightwaves.com/news/the-log-book-driver-receives-renovated-rig-hopes-for-more-trucker-salutes

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