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FreightWaves


    • Jul 28, 2025 LATEST EPISODE
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    Latest episodes from FreightWaves NOW

    Morning Minute | July 28, 2025

    Play Episode Listen Later Jul 28, 2025 2:06


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    Morning Minute | July 25, 2025

    Play Episode Listen Later Jul 25, 2025 1:59


    NATO has issued a dire warning, stating that global ports face unprecedented cyber threats from state-linked actors, with attacks frequently traced back to Russia, Iran, and China. These sophisticated assaults target critical systems like access control and vessel traffic management, posing a severe risk to global supply chains and military logistics. In rail news, Union Pacific and Norfolk Southern have confirmed advanced discussions for a potential merger that would create the first U.S. transcontinental railroad. While no assurance of a final agreement exists, Union Pacific's CEO emphasized that the railroad industry cannot stand still and requires change. On the trucking front, Heartland Express reported its eighth consecutive net loss in the second quarter, totaling nearly $11 million, or 14 cents per share. This performance was worse than analyst expectations and the prior year's loss, despite the company noting some sequential improvement from the first quarter. Looking ahead, FreightWaves TV has new episodes of WHAT THE TRUCK?!? at noon and Running on Ice at 2 PM today. You can also catch the replay of WHAT THE TRUCK?!? this evening on SiriusXM channel 146. Learn more about your ad choices. Visit megaphone.fm/adchoices

    Morning Minute | July 24, 2025

    Play Episode Listen Later Jul 24, 2025 2:03


    Trucking and logistics company Forward Air is on the verge of a potential acquisition, with several private equity firms, including Clearlake Capital and Apollo Global Management, submitting bids, causing its shares to surge 10%. This interest follows intense pressure from activist investors after the company's heavily contested merger with Omni Logistics, which shareholders criticized for its structure and the large debt burden it placed on Forward. In maritime news, a historic order has been placed for a new liquefied natural gas (LNG) vessel to be built at a Philadelphia shipyard, marking the first of its kind in the U.S. in nearly 50 years. This joint-build project by Hanwha Ocean and Hanwha Philly Shipyard aims to comply with new rules proposed by the United States Trade Representative, which are designed to counter China's dominance in shipping and shipbuilding by requiring a percentage of U.S. LNG exports to be transported on U.S.-flagged and crewed vessels. On the railroad front, CSX reported a decline in its second-quarter profits, with operating income falling 11% and revenue decreasing 3%. Despite these financial setbacks, executives expressed encouragement regarding the railroad's operational recovery during the quarter, highlighting improvements in on-time performance. CSX anticipates overall volume growth for the year, driven by numerous industrial development projects becoming operational and the ongoing conversion of freight from highway to intermodal transport. Learn more about your ad choices. Visit megaphone.fm/adchoices

    The Daily | July 23, 2025

    Play Episode Listen Later Jul 23, 2025 7:18


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    The Daily | July 22, 2025

    Play Episode Listen Later Jul 22, 2025 7:48


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    Morning Minute | July 22, 2025

    Play Episode Listen Later Jul 22, 2025 2:20


    New reports indicate that BNSF has hired Goldman Sachs to advise on a potential rail merger, following ongoing merger talks between Union Pacific and Norfolk Southern since the first quarter. Publicly held Class One railroads are also scheduled to begin reporting their second-quarter earnings this week. We delve into the US cargo airlines' strong endorsement of the Trump administration's sanctions on Mexico, enacted after Mexico allegedly violated a 2015 air transport agreement by forcing all cargo carriers to relocate. The U.S. Department of Transportation will now review flight schedules of Mexican carriers and has put European countries on notice for similar potential actions. The episode also highlights the struggles of small and medium-sized businesses amidst a possible trade war, with some companies adopting new practices like skew normalization to mitigate tariff-related losses. Port of Los Angeles Executive Director Gene Seroka notes that uncertainty has become the new norm, emphasizing how trade policies impact the economy as a whole. Tune in today at 2 PM for a new episode of Loaded and Rolling with Thomas Wason on FreightWaves Television. Additionally, mark your calendars for the Enterprise Fleet Summit tomorrow and the Supply Chain AI Symposium next week on July 30th in Washington D.C.. Learn more about your ad choices. Visit megaphone.fm/adchoices

    The Daily | July 21, 2025

    Play Episode Listen Later Jul 21, 2025 7:48


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    Morning Minute | July 21, 2025

    Play Episode Listen Later Jul 21, 2025 2:25


    A new proposed deal could reshape freight railroading, with Union Pacific and Norfolk Southern reportedly in merger talks to create the first true transcontinental railroad. Warren Buffett's Berkshire Hathaway, owning Union Pacific's primary competitor BNSF Railway, looms large with over $347 billion in cash, sparking speculation of a bidding war that could involve other major railroads like CSX. We also cover the U.S. moves to restrict Mexican airlines over cargo and competition concerns, threatening the long-standing partnership between Delta and Aeromexico. This action by the Trump administration is a direct response to the Mexican government's mandate forcing all cargo flights from Mexico City's main airport to a more distant new airport, a move the U.S. asserts violates their trade agreement. Finally, get an update on ocean rates falling for the fifth straight week, according to Drewry's World Container Index. The key route from Shanghai to Los Angeles saw rates decrease by 4%, while Shanghai to New York dipped 6%, reflecting what analysts describe as a clear sign of weakening global demand for goods after a volatile spike caused by U.S. tariffs on Chinese products earlier this year. Learn more about your ad choices. Visit megaphone.fm/adchoices

    The Daily | July 18, 2025

    Play Episode Listen Later Jul 18, 2025 7:35


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    Morning Minute | July 18, 2025

    Play Episode Listen Later Jul 18, 2025 2:14


    Union Pacific is reportedly in early-stage talks to acquire Norfolk Southern, its smaller Eastern rival. This potential tie-up would combine the largest publicly held US railroad with NS, bringing together over 60,000 employees and 60,000 miles of track. David Steiner has officially taken the helm of the US Postal Service as the new Postmaster General, becoming the highest paid chief executive in the agency's history with a salary over $346,000 plus a 50% bonus.  The Canadian government will begin a confidential vote on Monday for 53,000 Canada Post employees to ratify the state-owned company's final contract offer, despite opposition from union leadership. This vote aims to conclude 19 months of negotiations, which included a 32-day strike and recent mail carrier refusal to work overtime, leading to daily operational losses of $7.3 million per day in June. Tune in today for FreightWaves TV's What the Truck?!? live at noon, with replays available on SiriusXM channel 146 from 5 to 7 PM. Don't forget to register for the free Enterprise Fleet Summit next Wednesday at 9 AM and get your tickets for the Supply Chain and AI Symposium in Washington D.C. in about two weeks. Learn more about your ad choices. Visit megaphone.fm/adchoices

    The Daily | July 17, 2025

    Play Episode Listen Later Jul 17, 2025 7:23


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    Morning Minute | July 17, 2025

    Play Episode Listen Later Jul 17, 2025 2:18


    An Illinois-based trucking company, Chicago Suburban Express, is scheduled to close its doors on Friday, July 18th. Founded in 1963, the company, also known as CSX, previously offered same-day pickup and truckload shipments across Illinois, Wisconsin, Indiana, and parts of Missouri, employing 41 drivers and operating 33 power units.  Transportation Secretary Sean Duffy has announced a new 12-member DOT Advisory Board with the goal of increasing American private investment in national infrastructure projects. Duffy highlighted that while there's a significant opportunity for private capital in infrastructure, much of the current returns are going to foreign investors, and he aims to shift these returns to American investors. Derek Barrs, the nominee for the top position at the FMCSA, testified before Congress, emphasizing how his law enforcement experience will guide his leadership in the agency. He specifically noted his understanding of challenges faced by roadside inspectors when communicating with drivers lacking English proficiency, and pledged to address issues like fraudulent CDLs and other fraud schemes if confirmed.  The episode also promotes upcoming FreightWaves TV programming, including new episodes of Bring It Home with JP Hampstead and The Long Haul with Adam Wingfield. Listeners are encouraged to get tickets for the Supply Chain AI Symposium on July 30th in Washington D.C., and to register for the free Enterprise Fleet Summit virtual event next week. Additionally, nominations for the FreightTech 100 awards are now open, with winners to be announced later in the summer and the FreightTech 25 announced at the F3 festival in October. Learn more about your ad choices. Visit megaphone.fm/adchoices

    The Daily | July 16, 2025

    Play Episode Listen Later Jul 16, 2025 6:41


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    Morning Minute | July 16, 2025

    Play Episode Listen Later Jul 16, 2025 2:03


    Welcome to your FreightWaves Morning Minute, summarizing today's top stories in freight and logistics. We first discuss the alarming rise in cargo theft incidents linked to insider information, a trend highlighted by Tony Pelli of BSI Consulting, with Miami and Los Angeles identified as major hotspots in the U.S.. Criminals are increasingly using methods such as phishing emails, bribing employees, and targeting facilities near logistics hubs to facilitate these thefts. The Federal Maritime Commission's (FMC) has launched an investigation into Terminal Service Agreements (TSAs) between Port Houston and several major container lines. This probe aims to determine if clauses within these agreements compel carriers, including Maersk and Evergreen Line Joint Service, to route a certain percentage of their loaded containers through Port Houston, potentially disadvantaging competing Gulf ports.  Additionally, BNSF Railway has launched a new expedited intermodal service connecting Los Angeles to Houston, which significantly cuts transit times by two days. This service, which debuted on July 10, is specifically designed to offer a faster and more cost-effective alternative for customers, particularly those currently draying intermodal loads from Dallas-Fort Worth to Houston.  Finally, tune in to FreightWaves TV today for new episodes of What the Truck?!? at noon and Truck Tech this afternoon. Also, make sure to mark your calendars for upcoming FreightWaves events, including the Enterprise Fleet Summit on July 23rd and the Supply Chain AI Symposium in Washington D.C. on July 30th. Learn more about your ad choices. Visit megaphone.fm/adchoices

    The Daily | July 15, 2025

    Play Episode Listen Later Jul 15, 2025 7:42


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    Morning Minute | July 15, 2025

    Play Episode Listen Later Jul 15, 2025 2:32


    The US Postal Service has increased its rates for stamps and parcel service on an expedited timeline, a change highlighted in the article "USPS hikes parcel rates and stamps by 7%". These new prices, including a 78-cent first-class stamp and higher domestic shipping costs for Priority Mail, USPS Ground Advantage, and Parcel Select, were previously approved by the Postal Regulatory Commission. The Trump administration is updating its national freight strategy, focusing on emerging technology and regulatory barriers, as discussed in "Will AI rewrite America's freight strategy?". The US DOT is seeking public input to prepare for a projected 50% increase in U.S. freight tonnage by 2050, looking for insights on diversifying global supply chains, rising energy production costs, changing urban-rural dynamics, and increasing e-commerce. June's Cass Freight Index report revealed continued pressure on freight volumes, marking 29 consecutive months of year-over-year declines for shipments, a trend extensively covered in "June produces mixed freight trends, recovery remains ‘elusive'". Although expenditures rose year-over-year, the outlook for July predicts a further 5% year-over-year decline in shipments, potentially offset by recent import increases. Finally, listeners are invited to tune into upcoming FreightWaves TV segments like Check Call and Loaded and Rolling. Nominations for the FreightTech 100 are now open, leading to the FreightTech 25 announcement at the Future of Freight Festival this fall, and other events include the Enterprise Fleet Summit and the Supply Chain AI Summit. Learn more about your ad choices. Visit megaphone.fm/adchoices

    Morning Minute | July 14, 2025

    Play Episode Listen Later Jul 14, 2025 2:35


    Interact Analysis, have lowered their projected growth for the mobile robotics market by $800 million, citing shifts in the global supply chain. It also includes a lowered short-term growth expectation through 2027 and a 2030 revenue projection of $15.6 billion for the industry.. Next, we turn our attention to the rail sector, where the Smart TD Rail Union is polling its members on a possible strike vote on its CPKC network. The union claims CPKC took advantage of a service crisis on the Kansas City Southern Network to make workplace job changes, including cutting jobs and reducing employee working hours, though CPKC denies wrongdoing and states it has been fully transparent.. Finally, we highlight the significant rise in U.S. trade with Mexico, which reached $74.5 billion in May, a 2% year-over-year increase and 7% gain from April. Mexico stood as the top U.S. trade partner for the month, bolstered by shipments of computers, cars, and auto parts to the U.S., with top ports of entry including Chicago O'Hare, Laredo, Texas, and JFK.. Learn more about your ad choices. Visit megaphone.fm/adchoices

    The Daily | July 11, 2025

    Play Episode Listen Later Jul 11, 2025 7:39


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    Morning Minute | July 11, 2025

    Play Episode Listen Later Jul 11, 2025 2:35


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    The Daily | July 10, 2025

    Play Episode Listen Later Jul 10, 2025 7:34


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    Morning Minute | July 10, 2025

    Play Episode Listen Later Jul 10, 2025 2:37


    A significant legal setback for rail shippers dropped as a federal court has tossed out the Surface Transportation Board's (STB) 2024 reciprocal switching rule, ruling that the STB exceeded its authority and that the rule was inconsistent with the Staggers Act of 1980, a decision challenged by major railroads including CSX, Canadian National, and Union Pacific.  Watt EV has broken ground on its sixth electric charging depot at the Port of Oakland, establishing a vital zero-emission freight corridor connecting the Bay Area to Sacramento, Nevada, and Southern California. This new facility will feature 15 240-kilowatt CCS dispensers and six MCS dispensers, significantly expanding the region's heavy-duty electric truck charging  The Small Business and Transportation Coalition (SBTC) has petitioned the U.S. Department of Transportation to repeal regulations allowing new entrant non-North America domiciled carriers to apply for operating authority in the US, alleging unfair competition against American trucking companies. However, federal data from the FMCSA contradicts this claim, showing very few non-North America-based operating authorities currently exist, with all such companies required to complete a safety audit. Learn more about your ad choices. Visit megaphone.fm/adchoices

    Morning Minute | June 8, 2025

    Play Episode Listen Later Jul 8, 2025 2:14


    The Trump administration announced potential higher import tariffs starting August 1st, including 25% on Japan and South Korea, with threats against retaliatory measures from other nations. This action follows President Trump's executive order to extend a 90-day pause on reciprocal tariffs until next month.  Geodis has appointed Laura Ritchey as the new President and CEO of its Americas region, where she will manage and grow contract logistics, freight forwarding, and transportation across North and South America. Ritchey will oversee approximately 20,000 employees in eight countries and has also joined the group's executive board.  The American Trucking Associations (ATA)  is losing its influence in the trucking industry, as many small fleets and owner-operators, who have increased their truck numbers by 245% since 2008, criticize the ATA for misrepresenting their interests. The ATA, primarily representing larger fleets, faces criticism for backing legislation that harms independent truckers, despite claiming to speak for all.  Listeners are also reminded of upcoming FreightWaves TV episodes, including Check Call with Mary O'Connell at 12:30 and Loaded and Rolling with Thomas Wasson at 2 PM. Don't forget to register for the Enterprise Fleet Summit coming up on July 23rd and the Supply Chain AI Symposium in Washington DC on July 30th at live.freightwaves.com. Learn more about your ad choices. Visit megaphone.fm/adchoices

    The Daily | July 7, 2025

    Play Episode Listen Later Jul 7, 2025 6:31


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    Morning Minute | July 7, 2025

    Play Episode Listen Later Jul 7, 2025 2:17


    We begin with news of a Houthi attack on the Liberian-flagged bulk tanker, Magic Seas, in the Red Sea, marking the first such incident on commercial shipping since December of last year. This attack, which occurred 51 nautical miles southwest of Hudaydah, Yemen, led to the vessel being set on fire and sinking, with its 23-person crew abandoning ship.  UPS plans to offer voluntary buyouts to unionized drivers for the first time in their history, as part of an effort to eliminate approximately 20,000 frontline positions and increase profits. While drivers taking the buyout would receive a generous financial package and earned retirement benefits, the Teamsters union strongly opposes this plan, viewing it as an illegal violation of their contract's commitment to creating new jobs.  In other news, DP World, a global ports and logistics operator, is seizing significant opportunities across Latin America, having recently opened a freight forwarding hub in Mexico City to support rising demand in US-Mexico cross-border logistics. The company has expanded aggressively in the Americas over the last two years, establishing 35 freight forwarding offices, including locations in Brazil and Toronto. Finally, don't miss out on upcoming Freight Waves events, including a new episode of What The Truck?!? today at noon, with a replay on Road Dog Trucking at 6 p.m.. Also, remember to sign up for the Enterprise Fleet Summit on July 23rd and the Supply Chain AI Symposium on July 30th in Washington DC, both accessible for registration at live.freightwaves.com. Learn more about your ad choices. Visit megaphone.fm/adchoices

    Morning Minute | Jul

    Play Episode Listen Later Jul 3, 2025 2:33


    Uncertainty surrounds U.S. and China trade relations as the July 9th tariff pause deadline approaches. President Donald Trump has announced an agreement for China to resume rare earth minerals trade in exchange for some U.S. tariff relief, with negotiations to be finalized after the Fourth of July holiday. The U.S. Postal Service has rolled out the second phase of its new delivery standards nationwide, aiming to improve operational efficiency and reduce transportation costs. These initiatives involve expanding reduced surface transportation schedules from regional processing centers to more distant post offices, intending to eliminate inefficient trucking trips and potentially save $36 billion over 10 years. A new LA-to-New York passenger train proposal by AmeriStarRail is set to carry long-haul trucks and their drivers. This coast-to-coast service, in partnership with Amtrak, promises to complete the journey in less than 72 hours, offering truck drivers drive-aboard service with access to Amtrak's coach, sleeper, and dining cars. The operation could potentially begin as early as May of next year. Listeners are also invited to explore new content on FreightWaves TV. Upcoming episodes include The Long Haul with Adam Wingfield and Bring It Home with JP Hamstead, offering further insights into the freight industry. Learn more about your ad choices. Visit megaphone.fm/adchoices

    The Daily | July 2, 2025

    Play Episode Listen Later Jul 2, 2025 9:16


    One of the largest food shipper bankruptcies in recent years involves Del Monte Foods filing for Chapter 11, impacting logistics providers like Uber Freight, which is owed $9 million. While pre-bankruptcy amounts are unsecured and repayment remains uncertain, there's hope that post-filing services may be paid more promptly under tighter court oversight and credit restraints. The U.S. Postal Service has expanded new delivery standards nationwide in its second phase, aiming to boost efficiency and slash costs by an estimated $36 billion over the next decade. This revamp involves consolidating facilities, eliminating redundant trucking trips, and streamlining mail processing, adapting to a dramatic shift in mail volume. On a more alarming note, recent weeks have seen over $31 million worth of illegal drugs seized at U.S. and Canadian border ports from commercial shipments. Supply chain risk firm Overhaul also assisted in recovering stolen rail freight cargo in California and Illinois, highlighting ongoing challenges of cargo theft. Let's turn to fuel prices, where benchmark diesel prices have cooled off after a spike linked to geopolitical fears, declining by nearly 5 cents per gallon to $3.727/gallon. Interestingly, diesel is trading in backwardation, where the front-month price is higher than later months, indicating tight inventory conditions and making its prices more sensitive than crude oil. Moving to the workforce, new data reveals truck driver wage growth is slowing in 2025 after strong increases in 2021 and 2022, projected to slow further to less than 1% during early 2025. This cooling is driven by reduced demand for drivers and a broader slowdown in national wage growth, despite non-fuel operational costs for trucking hitting record highs. Finally, experts agree that constant, overlapping disruptions have reshaped the global trade environment into a new normal, termed "compound disruptions". Building resilient supply chains in this era requires foresight, agility, a digital-first mindset, and enhanced collaboration between shippers and carriers. Learn more about your ad choices. Visit megaphone.fm/adchoices

    Morning Minute | July 2, 2025

    Play Episode Listen Later Jul 2, 2025 2:19


    Del Monte Foods has filed for Chapter 11 bankruptcy, marking one of the largest food shipper bankruptcies in recent years, with over $1 billion in liabilities. This event profoundly impacts transportation and logistics companies, including Uber Freight (listed as Transplace in the filing), which is owed over $9 million, as detailed in the article "Uber Freight faces $9M hit in Del Monte Bankruptcy". A new report from the American Transportation Research Institute (ATRI), indicates a continuing downward trend in driver wage growth from 2024 through the first quarter of 2025. This deceleration, attributed to reduced driver demand, saw the rate of growth drop significantly from 7.6% in 2023 to 2.4% in 2024, and only 0.9% in the first two months of 2025, as further explained in "Truck driver wages downshifting in 2025". There is growing speculation around the next Class One railroad merger in the United States, fueled by a surge of investor interest from a UK investor. While major mergers were once considered a thing of the past due to strict regulatory oversight, the industry's desire for structural changes and improvements could drive new east-west merger possibilities, a topic explored in "UK investor sees not one, but two, pathways to rail mergers". Finally, tune in to FreightWaves TV for What The Truck?!? live at noon. Also, mark your calendars for the Enterprise Fleet Summit on July 23rd and the Supply Chain AI Symposium in Washington D.C. at the end of this month. Learn more about your ad choices. Visit megaphone.fm/adchoices

    The Daily | July 1, 2025

    Play Episode Listen Later Jul 1, 2025 8:00


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    Morning Minute | July 1, 2025

    Play Episode Listen Later Jul 1, 2025 2:17


    In this episode of the FreightWaves Morning Minute, we delve into the impact of stricter English language proficiency requirements on the U.S.-Mexico cross-border freight market, an initiative from the Trump administration. The enforcement, which began on Wednesday, July 1st, 2025, is already causing significant operational changes for the trucking industry and leading to an increase in rates on northbound trucking lanes. The episode also covers the dramatic decline in trans-Pacific container rates from the Far East to the U.S. West Coast, with market average spot rates plummeting 39% since June 1st to $3,317 per forty-foot equivalent unit. While rates to the U.S. East Coast also declined by 9% since June 1st, they still stand at $5,990 per FEU, maintaining a significant $2,673 spread between the coasts, the highest in 10 months. The first legal steps have taken to challenge the Clean Truck Partnership (CTP), a 2023 agreement between California and engine manufacturers. The Western States Trucking Association (WSTA) has petitioned the California Office of Administrative Law to determine if the CTP was properly reached under California law, labeling it an "unholy alliance". Don't forget to tune into FreightWaves TV for Check Call and Loaded and Rolling. Also, mark your calendars for the Enterprise Fleet Summit on July 23rd and the AI Supply Chain Symposium on July 30th in Washington D.C.. Learn more about your ad choices. Visit megaphone.fm/adchoices

    The Daily | June 30, 2025

    Play Episode Listen Later Jun 30, 2025 7:24


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    Morning Minute | June 30, 2025

    Play Episode Listen Later Jun 30, 2025 2:31


    On this episode of FreightWaves Morning Minute, we delve into the U.S. Department of Transportation's (DOT) new initiatives, including a nationwide audit of non-domiciled CDL holders, significant federal funding for truck parking, and the cancellation of the speed limiter mandate for heavy-duty trucks. These changes aim to prioritize American truck drivers and address long-standing industry concerns, as announced by Transportation Secretary Sean Duffy on FreightWaves' WHAT THE TRUCK?!? show. You can read more about these changes in the article "BREAKING: DOT will crack down on non-domiciled CDL holders - FreightWaves". DHL Express Canada has reinstated all services and resumed full operations after Unifor union workers ratified a new four-year contract. This agreement ends a nearly three-week strike/lockout and includes a 15.75% wage increase over four years, a new payment structure for independent drivers, and enhanced pension programs. Further details are available in the article "DHL Express Canada reinstates service after workers ratify labor deal - FreightWaves". A new report indicates that Mexico is well-positioned to benefit from President Trump's global tariff war and the ongoing trend of nearshoring. Most goods from Mexico qualify for tariff-free treatment under the USMCA, making it a reliable alternative for companies seeking to reduce exposure to trade friction and long lead times from overseas markets. Learn more in the report "Borderlands Mexico: Winner in global tariff war could be Mexico, report says - FreightWaves". Tune into FreightWaves TV for What the Truck?!? live at noon today, or catch the replay on SiriusXM channel 146. Don't forget to register for the upcoming Enterprise Fleet Summit on July 23rd and the Supply Chain AI Symposium on July 30th in Washington D.C.. Learn more about your ad choices. Visit megaphone.fm/adchoices

    The Daily | June 27, 2025

    Play Episode Listen Later Jun 27, 2025 9:19


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    Morning Minute | June 27, 2025

    Play Episode Listen Later Jun 27, 2025 2:10


    FedEx's strategic Network 2.0 consolidation program, aims to close 30% of its U.S. package distribution facilities within two years. This initiative is already contributing significant savings, with $200 million expected this quarter, and involves integrating legacy Express and Ground networks to achieve greater efficiency and eliminate $2 billion in annual costs.  The broadcast also details Maersk's decision to reopen service at Israel's largest port, Port of Haifa, after a brief suspension due to heightened tensions and missile attacks from Iran. The carrier is closely monitoring the situation, including the navigability of the critical Strait of Hormuz, following reports of a ceasefire.  Additionally, Air Hong Kong, a freighter subsidiary of Cathay Pacific Airways and a DHL Express capacity provider, has completed a seven-year transition from an Airbus A300-600 fleet to an all-A330 freighter fleet. The new A330s are larger and newer than the retired A300-600s, offering 25% more payload and an extended range for new destinations such as Bahrain and Sydney.  Finally, don't miss upcoming FreightWaves events, including a What the Truck?!? episode featuring Transportation Secretary Shawn Duffy, and major summits like the Enterprise Fleet Summit on July 23rd, and the Supply Chain AI Symposium on July 30th in Washington D.C.. Register for these and get your F3 tickets by visiting live.freightwaves.com. Learn more about your ad choices. Visit megaphone.fm/adchoices

    The Daily | June 26, 2025

    Play Episode Listen Later Jun 26, 2025 8:40


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    Morning Minute | June 26, 2025

    Play Episode Listen Later Jun 26, 2025 2:27


    Saia obtained court approval to purchase three terminals from Yellow's bankruptcy in New York, California, and Florida. These assets, priced at $8.5 million, further Saia's aggressive terminal growth strategy, which has seen 21 new terminals opened in the last year as of their first quarter 2024 earnings call. DHL Express Canada has reached a tentative agreement on a new contract with its striking Unifor Union workers after nearly two weeks of halted operations. Unifor, which represents over 2,100 DHL Express truck and van drivers, warehouse pickers, and other Canadian workers, will not disclose deal details until finalized, with a ratification meeting set for the coming days. Estes Forwarding Worldwide (EFW) was the victim of a cyberattack earlier this week. Despite the attack, the company confirmed there was no significant disruption to its business, and its parent company, Estes Express Lines, which was previously targeted in 2023, was unaffected and provided recovery support. Learn more about your ad choices. Visit megaphone.fm/adchoices

    The Daily | June 25, 2025

    Play Episode Listen Later Jun 25, 2025 7:20


    The Federal Motor Carrier Safety Administration is intensifying enforcement of English Language Proficiency (ELP) standards as of June 25, 2025, which could lead to the immediate grounding of truck drivers who do not meet Department of Transportation requirements. This move is expected to shrink the pool of qualified drivers, creating capacity constraints, increasing tender rejections, and driving national truckload rates higher, with the National Truckload Index currently at $2.27 per mile.  In other news, Relay Payments is expanding its services beyond fuel payments into repair and maintenance, announcing partnerships with Southern Tire Mart at Pilot, Boss Truck Shops, and AMBEST Service Centers, collectively offering over 235 locations. This initiative aims to streamline payment processes for carriers and improve workflows for merchants by utilizing digital RelayCodes, allowing fleets to consolidate all over-the-road expenses on a single platform.  Turning our eyes skyward, FedEx has retired a dozen freighter aircraft, including Airbus A300s, MD-11s, and Boeing 757-200s, as part of an effort to streamline its air network and modernize its fleet, taking a $21 million impairment charge. While flying less domestically after its USPS contract ended, FedEx is focusing on efficient widebody freighters and plans further acquisitions of Boeing 777s and ATR 72-600 turboprops to meet strong international parcel demand and boost efficiency.  On the ground in the food sector, a wave of layoffs and closures is hitting major food retailers, distributors, and producers across the U.S., with over 1,500 job cuts announced since early May. Companies affected include United Natural Foods Inc., which is closing a distribution center in Pennsylvania and cutting 716 jobs; Albertsons, which laid off 275 corporate employees and plans to close a grocery store in Portland, Oregon; and Amazon Fresh, which shuttered a grocery location near Seattle with 125 job losses.  In the maritime realm, Federal Maritime Commission Chairman Louis Sola announced he is stepping down as his carryover term expires this month, having served since 2018 as a Trump appointee. Sola played a key role in safeguarding the U.S. maritime industry, bringing greater transparency to port operations, and overseeing a supply chain that moves more than $5 trillion in goods annually, including leading an investigation that resulted in the de-flagging of 140 sanctioned vessels.  The Ports of Indiana are partnering with Louis Dreyfus Company (LDC) to restart operations at the Burns Harbor grain terminal on Lake Michigan, a crucial asset for Midwest grain exports since its opening in 1979. LDC, one of the world's "big four" global agri-commodities companies, plans to begin operating the terminal in early 2026, aiming to boost grain exports and provide vital market access for regional farmers. Learn more about your ad choices. Visit megaphone.fm/adchoices

    Morning Minute | June 25, 2025

    Play Episode Listen Later Jun 25, 2025 2:18


    This episode of FreightWaves Morning Minute covers the ongoing debate in Congress regarding rail safety technology, with a House subcommittee hearing highlighting the partisan divide over its implementation. Republicans advocate for technological innovation and modernization of regulations, while Democrats emphasize that advancements should not compromise worker safety. Much of the discussion centered on automated track inspection and the extent to which railroads should be allowed to reduce traditional visual inspections.  FedEx has permanently retired 12 freighter aircraft and incurred a $21 million impairment charge in the fourth quarter as part of its effort to streamline its air network and modernize its fleet. The removed aircraft include seven Airbus A300-600s, three MD-11 tri-engine freighters, and two Boeing 757-200s, in addition to 22 Boeing 757 cargo jets decommissioned in the fourth quarter of 2024. FedEx plans to reduce aircraft investment to $1 billion in the current fiscal year and maintain that level for several years.  A recent surge in layoffs impacted the food production, distribution, and retail sectors across the U.S., with over 1,500 job cuts announced since the beginning of May. Notable companies affected include United Natural Foods Inc. (UNFI), which is closing a distribution center and eliminating 716 jobs, and Albertsons, which has laid off 275 corporate employees in Phoenix. Additionally, Amazon Fresh closed a grocery store in Seattle, leading to 125 job cuts. Learn more about your ad choices. Visit megaphone.fm/adchoices

    The Daily | June 24, 2025

    Play Episode Listen Later Jun 24, 2025 7:21


    FreightWaves honors the remarkable life and legacy of Fred Smith, the visionary founder who built FedEx into the world's largest cargo airline. Learn how his hands-on leadership and strategic aircraft acquisitions transformed the company into a global commerce leader, even through ventures that didn't succeed. Erez Agmoni of Interwoven Ventures, who previously led innovation at Maersk, shares insights on how combining AI computer vision with dynamic digital twins allows for significant efficiency improvements, as seen in Maersk's container unloading, which achieved 82% accuracy in prediction times, and drayage operations, which saved millions by consolidating information for optimization. Geopolitical tensions are disrupting freight flows, as demonstrated by Maersk's decision to stop Haifa service prior to Iran missile attacks, underscoring the delicate balance shipping giants must maintain for crew safety and operations. This suspension, amid escalating conflict, contributed to increased container rates from Shanghai to European ports, showing broader market uncertainties. For the trucking industry, prepare for a hot, tight July 4th freight market, where spot truckload rates are expected to rise, offering a significant opportunity for carriers to capitalize on higher rates. Freight brokers, however, face the challenge of proactively managing margins against potentially surging spot rates as tender rejection rates climb nationally and in key regional hubs. Fuel prices are also in the spotlight, with the benchmark diesel price now at its highest level in almost a year after a big jump, even as ultra low sulfur diesel (ULSD) futures markets recently plunged. This surge, following initial fears of supply disruptions from Middle East conflicts, means diesel consumers are still feeling the pinch at the pump. Finally, we highlight innovative strides in fleet management as Samsara introduces its 2025 North America Customer Advisory Board, bringing together industry leaders to shape the product roadmap for AI-driven tools. Discover how customers are leveraging Samsara's AI-powered platforms to achieve impressive ROI, including millions saved in maintenance costs and significant reductions in accidents and theft. Learn more about your ad choices. Visit megaphone.fm/adchoices

    Morning Minute | June 24, 2025

    Play Episode Listen Later Jun 24, 2025 2:10


    FedEx's board of directors elected R. Brad Martin as chairman following the passing of founder Fred Smith, and a decision to reduce the board's size to 12 members. The company expressed profound gratitude for Smith's vision and contributions, as Martin, previously vice chairman, now leads the audit and finance committees. Maersk has suspended services to Israel's busiest port, Haifa, and halted cargo acceptance due to ongoing conflict and safety risks from missile attacks. This decision was made prior to new missile attacks, which occurred despite reports of a potential ceasefire. The National Institutes of Health (NIH) has announced a five-year, $10 million research initiative to study the long-term health effects of the 2023 railroad derailment in East Palestine, Ohio. This marks the first large-scale coordinated federal program to address community health concerns, focusing on public health tracking, chemical exposure impacts, and multi-disciplinary communication. Also, tune into FreightWaves TV for programs like Check Call and Loaded and Rolling, and mark your calendars for upcoming events like the Enterprise Fleet Summit on July 23rd. Don't miss the Supply Chain AI Symposium on July 30th in Washington D.C., where a special ticket offer allows combining it with your F3 ticket for a reduced price. Learn more about your ad choices. Visit megaphone.fm/adchoices

    The Daily | June 23, 2025

    Play Episode Listen Later Jun 23, 2025 7:56


    Global tensions as oil prices react to geopolitical events, with Brent crude ticking up after the US strike on Iran's nuclear facilities, though prices later flattened as tankers moved through the Strait of Hormuz. Despite Iran's parliament voting to close the strategic waterway, top leadership approval is required, and US Secretary of State Marco Rubio urged China to discourage such a shutdown given its critical impact on global oil consumption. Spot rates for large crude oil tankers from the Persian Gulf to China have surged dramatically amid heightened Middle East stability concerns, nearly doubling to over $57,000 per day for the largest crude carriers. Despite threats to close the Strait of Hormuz, major container lines like Maersk and CMA CGM continue their sailings, closely monitoring the situation while maintaining operations. In industry news, we pause to honor the passing of Frederick W. Smith, the visionary founder of FedEx, who died at age 80, transforming a college term paper idea into an $87.7 billion global overnight delivery powerhouse. Smith's pioneering concepts, military service, and strategic financial moves, like a high-stakes blackjack win, shaped FedEx into a company whose legacy touches virtually every corner of global logistics. The US truckload market continues to face significant challenges, with carrier revocations, or trucking businesses shutting down, running 16% higher year-over-year through mid-2025, reflecting sustained industry vulnerability. Recent regulatory enforcement, including renewed English language proficiency rules and stricter CDL fraud crackdowns, may be raising entry barriers, while softening demand and rising operating costs further squeeze profitability. Supply chain investments are on the rise in Mexico to support growing trade with the US, its largest trading partner. This includes Evans Transportation opening a new office in Laredo, DP World launching a freight forwarding hub in Mexico City, Geodis Logistics opening a new office in Guadalajara, We Store Frozen building a cold storage facility in Laredo, and Japanese firms Tokai Kogyo and Benchmark Electronics expanding their manufacturing footprints. FreightWaves is proud to spotlight the dawn of a new era with the AI Excellence in Supply Chain Award, recognizing game-changing use of artificial intelligence in logistics. The Supply Chain AI Symposium in Washington, D.C., happening this July, will crown industry leaders harnessing AI, machine learning, and large language models to drive smarter, more resilient, and sustainable supply chains. Learn more about your ad choices. Visit megaphone.fm/adchoices

    Morning Minute | June 23, 2025

    Play Episode Listen Later Jun 23, 2025 2:16


    Heightened tensions in the Middle East have caused spot rates for large crude oil tankers from the Persian Gulf to China to surge over 50%. This surge comes after a U.S. attack on Iran and threats to close the Strait of Hormuz, a route for about 20% of the world's oil, equating to over $57,000 per day for a roundtrip charter.  Frederick W. Smith, who founded FedEx Express Corp. fifty-four years ago and revolutionized parcel delivery by using aircraft for overnight delivery, passed away over the weekend at the age of 80. FedEx CEO Raj Subramaniam stated that "Fred was more than just the pioneer of an industry and the founder of our great company. He was the heart and soul of FedEx – its People-Service-Profit culture, values, integrity, and spirit," underscoring his profound impact.  The Supreme Court has weighed in on California's ability to create its own environmental regulations via waivers from the EPA, a ruling that was more procedural than substantive on regulatory lawmaking. This decision, which overruled a D.C. Circuit Court case regarding a challenge to California's Clean Cars One Act, could benefit how trucking groups fight state regulations impacting their industry going forward.  Don't miss What The Truck?!? live at noon today on FreightWaves TV, with the replay available on SiriusXM channel 146. Also, mark your calendars for the free Enterprise Fleet Summit on July 23rd and the Supply Chain AI Symposium on July 30th in Washington D.C., with a special combo ticket available for the latter and the Future of Freight Festival. Learn more about your ad choices. Visit megaphone.fm/adchoices

    The Daily | June 20, 2025

    Play Episode Listen Later Jun 20, 2025 0:16


    C.H. Robinson announces groundbreaking adoption of AI agents to classify LTL freight, a move set to revolutionize classification, enhance efficiency, and accuracy in logistics. This innovation is particularly significant given upcoming changes to the National Motor Freight Classification (NMFC) system and is expected to generate operating leverage in North American Surface Transportation (NAST) by automating over 75% of LTL orders. Canada Post reached a collective bargaining agreement with its second-largest union, the Canadian Postmasters and Assistants Association (CPAA), after 18 months of negotiations. This deal grants postmasters an 11% wage increase over three years, while a standoff continues with their largest union, the Canadian Union of Postal Workers (CUPW), prompting government intervention. DHL Express Canada requested for an exemption from new legislation banning replacement workers during strikes or lockouts, forcing them to suspend operations. The company argues this cessation significantly harms businesses and communities, affecting over 50,000 international shipments daily, but the union, Unifor, strongly opposes any special treatment. Explore the swift resolution of a legal battle between DAT Freight & Analytics and factoring company OTR Solutions, bringing a quick end to a dispute over factoring services. This settlement allows DAT to market the factoring services of Outgo, a company it recently acquired, on its platform, which had been previously suspended by a court order. FourKites CEO allegedly manipulated comments by FreightWaves' CEO to unfairly criticize Project44's Movement platform, highlighting competitive rivalries in logistics technology. This behavior, which included misrepresenting the context of the statements, raises questions about ethical conduct, given FourKites' history of purported unethical actions against Project44. Recent flooding and rockslides shut down a critical stretch of Interstate 40 between the North Carolina and Tennessee border. This key route was previously ravaged by Hurricane Helene last September and only partially reopened in February 2025, emphasizing its vulnerability to natural disasters. This episode ensures you stay ahead of the curve in freight and logistics news. Learn more about your ad choices. Visit megaphone.fm/adchoices

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