U.S. Bank

Loaded and Rolling: Flexport acquires Convoy tech stack

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Flexport acquires Convoy tech stack for undisclosed sum

(Photo: Jim Allen/FreightWaves)

The Convoy...

https://www.freightwaves.com/news/loaded-and-rolling-flexport-acquires-convoy-tech-stack

Loaded and Rolling: The Taylor Swift $100,000 driver bonus

The Taylor Swift $100,000 driver bonus

(Image: Craig Fuller via X, formerly Twitter)

Media outlet TMZ reported that singer-songwriter Taylor Swift gave each truck driver who worked as part of her Eras Tour a bonus check of $100,000 before her Santa Clara, California, show last Saturday. The article on Tuesday notes there are around 50 drivers associated with her current U.S. tour and the bonuses totaled about $5 million. This end-of-tour bonus pales in comparison to the estimated $1 billion in...

https://www.freightwaves.com/news/loaded-and-rolling-the-taylor-swift-100000-driver-bonus

Loaded and Rolling: Inbound container volumes cloud freight rebound, FMCSA task force on truck leasing

Inbound container volumes cloud freight rebound

(Source: FreightWaves SONAR)

SONAR ocean container booking data suggests that the predicted freight rebound in the second half of 2023 may be increasingly unlikely. Import and ocean container booking data is typically used as a leading indicator for future truckload volumes, as containers are offloaded in ports and transferred into intermodal or truckload orders. FreightWaves’ Henry Byers, head of ocean intelligence, notes that 2023 container...

https://www.freightwaves.com/news/loaded-and-rolling-inbound-container-volumes-cloud-freight-rebound-fmcsa-task-force-on-truck-leasing

Loaded and Rolling: Lunar New Year outlook; boxpocalypse now

Lunar New Year outlook with Christopher Thornycroft
(Image: FreightWaves)

In Tuesday’s episode of FreightWaves’ Loaded and Rolling show, Christopher Thornycroft, executive vice president at Redwood, joined us to talk about the Lunar New Year and what it means for freight demand. For those unaware, the Chinese Lunar New Year holiday began Jan. 22 and typically lasts two weeks. This year, it will end with the Lantern Festival on Sunday. This holiday, which involves fireworks and gift giving, can...

https://www.freightwaves.com/news/loaded-and-rolling-lunar-new-year-outlook-boxpocalypse-now

Modernizing the payments process at J.B. Hunt

This fireside chat recap is from FreightWaves’ Supply Chain Meets FinTech event on Wednesday.

FIRESIDE CHAT TOPIC: The financial supply chain.

DETAILS: J.B. Hunt and U.S. Bank are working together to provide a better payments solution for Hunt customers. Jeff Pape of U.S. Bank sits down with Amy Horn of J.B. Hunt to discuss the changing market for payments solutions. 

INTERVIEWER AND SPEAKER: Amy Horn, director of intermodal pricing at J.B. Hunt, is interviewed by Jeff Pape, general manager of...

https://www.freightwaves.com/news/scmft-modernizing-the-payments-process-at-j-b-hunt

U.S. Bank: Freight shipments and costs step higher in Q2

A yellow tractor pulling a white trailer on highway

Freight payments data released Wednesday showed a sequential uptick in trucking shipments during the second quarter, reversing the declining trend seen in the prior two quarters. Freight spending advanced again in the period as elevated fuel costs continue to push up all-in rates.

A national trucking index published by U.S. Bank (NYSE: USB) showed volumes were up 2.3% from the first quarter with spending up 3.3%. Shipments in the quarter were slightly higher than the historical average “as...

https://www.freightwaves.com/news/us-bank-freight-shipments-and-costs-step-higher-in-q2

U.S. Bank’s supply chain group teams up with LiquidX as fintech partner

U.S. Bank, a major processor of transportation payables as well as a significant lender to supply chain operations, is teaming up with LiquidX to more fully digitize its supply chain financing.

“One of my strategies early on was to try and build a much more scalable business model, and that included being able to build a solutions set that was much more digitized and automated,” Dan Son, the head of global trade and supply chain finance at U.S. Bank (NYSE: USB), said in an interview with...

https://www.freightwaves.com/news/u-s-banks-supply-chain-group-teams-up-with-liquidx-as-fintech-partner

Fewer shipments, higher trucking costs in 4th quarter: U.S. Bank

U.S. truck shipment totals slowed in the fourth quarter, but the cost of moving those goods increased, according to the quarterly report by U.S. Bank.

The bank is a major processor of invoices. It has data on the cost of moving freight, the number of shipments moved and how long it took to move them.

Fourth-quarter freight shipments were down 5.1% compared to the corresponding quarter of 2020. But U.S. Bank (NYSE: USB) also reported that sequentially, fourth-quarter shipments were down 2.4% from...

https://www.freightwaves.com/news/fewer-shipments-higher-trucking-costs-in-4th-quarter-u-s-bank

U.S. Bank’s Q3 Spend Index up 3.7x more than Shipments Index

Two key measures of freight demand rose in the third quarter, according to U.S. Bank, but at significantly different rates.

The U.S. Bank National Shipments Index, which measures volume, rose 1.5% from the second quarter, according to just-released data. (NYSE: USB)

But the bank’s National Spend Index, which measures expenditures, climbed 5.6% in the same period.

The data on year-on-year figures is striking as well. For all the focus on the supply chain now, including backups at major ports, the...

https://www.freightwaves.com/news/u-s-banks-q3-spend-index-up-3-7x-more-than-shipments-index

US Bank partners with Mastercard for international fleet card acceptance

The U.S. Bank Voyager card program has been a resource for fleet operations since the 1980s, gaining acceptance at 97% of all U.S. gas stations and locations for maintenance, food and hotels.

“When you think about all the purchase decisions drivers need to make on the road, their financial provider needs to be a part of a network that is accessible wherever that fleet is moving shipments,” said Jeff Pape, senior vice president and director of product and marketing for transportation at U.S. Bank...

https://www.freightwaves.com/news/us-bank-partners-with-mastercard-for-international-fleet-card-acceptance

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