FreightWaves NOW

In this episode, we kick things off with a massive compliance crackdown hitting the trucking industry, as the Federal Motor Carrier Safety Administration added twelve electronic logging devices to the revoked list in the largest single-day event since May 2025. All twelve failed to meet minimum technical requirements, bringing the total to seventy-nine devices removed since January 2025 at an aggressive pace of nearly five per month. If you're running any of these devices, you have until July 20th to replace them with a compliant ELD or face citations and out-of-service violations. Over in the ocean shipping sector, we explore how ZIM Integrated Shipping Services posted a net loss of $86 million in the first quarter, a massive reversal from $296 million in net income one year earlier. The Israeli liner, set to be acquired by Germany's Hapag-Lloyd, saw revenues slump 30 percent to $1.4 billion as its average freight rate per TEU crashed 26 percent to just $1,310, reflecting a softer freight rate environment and weaker demand. Finally, we cover the evolving world of fleet technology as Fleetworthy unveiled three major platform enhancements at its Customer Roadshow event in Austin, including a unified cross-platform login, Centralized Vehicle Management, and the debut of the FleetworthyGO mobile app. These upgrades create a single source of truth for vehicle information across Fleetworthy's various products, allowing fleets to manage compliance, toll management, permitting, and weigh station bypass activities from one centralized platform. Follow the FreightWaves NOW Podcast Other FreightWaves Shows Learn more about your ad choices. Visit megaphone.fm/adchoices

In this episode, we kick things off by examining autonomous trucking's major geographic expansion as Einride deploys cabless electric trucks in Ohio in partnership with EASE Logistics. This proof-of-concept deployment represents a significant shift beyond the Sun Belt, bringing SAE Level 4 autonomous technology to the industrial Midwest for the first time. Operating between warehouses in Marysville, the project is part of Ohio and Indiana's Truck Automation Corridor initiative to evaluate real-world impacts on safety and freight efficiency. Next, we explore the equipment sector where Volvo Trucks North America has unveiled a completely redesigned D13 engine engineered to meet 2027 EPA standards taking effect January 1st. The next-generation powerplant slashes nitrogen oxide emissions by a staggering eighty-three percent and particulate matter by fifty percent, making it Volvo's cleanest engine ever. With compacted graphite iron block construction, a higher compression ratio, and innovative fourteen-wave piston design, the engine delivers up to 540 horsepower while fundamentally redefining heavy-duty performance and environmental compliance. Finally, we cover a sudden leadership shakeup at the western Class I railroad as BNSF's chief operations officer departed after just five months in the top operations role. Matt Garland, a twenty-five-year BNSF veteran who took the COO position on January 1st, has been replaced by Craig Morehouse, who will now oversee the entire operations organization. The abrupt transition comes as Berkshire Hathaway's new leadership pushes BNSF to further improve its operating ratio and operational performance. Follow the FreightWaves NOW Podcast Other FreightWaves Shows Learn more about your ad choices. Visit megaphone.fm/adchoices

In this episode, we kick things off in Washington, where the U.S. House of Representatives has just unveiled the BUILD America 250 Act, a sprawling federal surface transportation reauthorization package. This massive legislation allocates $240 billion in authorized and direct funding for trucking, rail, aviation, and ports, including a historic $102 billion investment in passenger and freight rail—the largest federal rail commitment since Amtrak's creation—along with $110 billion for roads and bridges, $17 billion for port upgrades, and $25 billion for airport modernization. Debate on the bill begins Thursday, just months before the current authorization expires in September. Shifting gears to the rails, we examine a brutal rate war erupting between two Class I giants as they battle for freight customers in front of federal regulators. Union Pacific has filed a 129-page complaint with the Surface Transportation Board alleging that BNSF Railway hiked reciprocal switching charges by as much as 472 percent at locations where UP recently won or grew business from BNSF customers. UP claims BNSF canceled longstanding unit grain train switching rates and forced customers to pay nearly triple the cost under merchandise train rates, while BNSF has rejected entire unit train shipments this month, allegedly to make UP service noncompetitive and drive shippers back to BNSF. Finally, we unpack the evolving threat landscape in supply chain security as traditional cargo theft tactics give way to far more sophisticated criminal operations. While overall theft incidents declined to 574 in the first quarter of 2026, deceptive pickup fraud schemes using fake identities and forged credentials jumped 31 percent year over year, with nearly half of those fraud incidents occurring in California. Electronics remained the most frequently targeted cargo at 17 percent of all incidents, while auto and parts thefts surged 142 percent from Q4 2025, prompting warnings from security experts that organized criminal networks are heavily investing in fraud infrastructure that traditional security measures like padlocks simply cannot stop. Follow the FreightWaves NOW Podcast Other FreightWaves Shows Learn more about your ad choices. Visit megaphone.fm/adchoices

In this episode, we kick things off by examining a brutal wave of workforce cuts hitting the U.S. supply chain sector. More than 5,183 freight-related workers have been affected by shutdowns, restructurings, and contract losses spanning at least twenty states across logistics, manufacturing, and transportation. The largest single reduction came from California-based FreshRealm, which filed for Chapter 11 bankruptcy after disruptions tied to a 2025 listeria outbreak, with major cuts at third-party logistics operators and automotive parts manufacturers also contributing to the staggering totals. Next, we explore how Florida law enforcement has dismantled a massive organized theft ring in an investigation known as Operation D-Fence. Authorities arrested fourteen people and estimate that roughly $7 million in proceeds moved through the criminal enterprise over the last year, with the operation allegedly functioning like a business complete with theft crews, transportation networks, centralized storage locations, and online resale channels targeting major retailers and construction sites across Florida, Indiana, Kentucky, and Tennessee. Finally, we unpack how the wreckage of the autonomous driving boom is being repurposed into a new generation of commercial trucking safety technology. MicroVision secured Luminar's assets for $33 million after the company's bankruptcy, gaining production programs with Volvo, an ASIC design team in Colorado Springs, and world-class validation facilities in Orlando. For fleet operators, the value proposition translates directly to cost-per-mile savings, with advanced driver-assistance systems delivering substantial accident cost avoidance and some insurers offering up to twenty percent reduced premiums. Follow the FreightWaves NOW Podcast Other FreightWaves Shows Learn more about your ad choices. Visit megaphone.fm/adchoices

In this episode, we kick things off by examining a landmark Supreme Court decision that fundamentally reshapes liability for the freight brokerage industry. The Court ruled unanimously on Thursday that the safety exception of the Federal Aviation Administration Authorization Act includes freight brokers, settling conflicting circuit court cases and clearing the way for negligent-hiring claims in state court. The decision in Montgomery versus Caribe Transport II allows C.H. Robinson to return as a defendant when the case is remanded to the Seventh Circuit. Next, we explore the ocean freight sector where carriers are tightening trans-Pacific eastbound capacity by blanking sailings around China's May Day holiday, creating the firmest supply-demand environment of the year. Meanwhile, Houston's containerized cargo volumes are surging as West Coast ports see year-over-year declines, driven by ship canal improvements that now allow larger and heavier vessels to access the Gulf Coast port. Executives expect carriers to hold mid-May general rate increases as tighter vessel supply supports higher pricing heading into summer shipping season. Finally, we cover a massive infrastructure investment to optimize distribution across the Southwest as Dollar Tree opens a one million-square-foot distribution center in Litchfield Park, Arizona. The climate-controlled facility, one of Dollar Tree's largest, will service about seven hundred stores across five states and help move product closer to stores for faster customer delivery. The value retailer now operates nineteen distribution centers supporting over nine thousand stores across North America. Follow the FreightWaves NOW Podcast Other FreightWaves Shows Learn more about your ad choices. Visit megaphone.fm/adchoices

In today's episode, we cover: FedEx Freight Spinoff: We kick things off with the major corporate shakeup at FedEx Corp., whose board of directors has officially approved the spinoff of its less-than-truckload (LTL) unit, FedEx Freight. We discuss the details of the separation, which is set to conclude by June 1, and how the new standalone company will trade on the New York Stock Exchange under the ticker symbol "FDXF". UP-NS Rail Merger Application: Next, we head over to the rails to unpack the ongoing regulatory proceedings between Union Pacific (UP) and Norfolk Southern (NS). The two Class I railroads have submitted a revised merger application to the Surface Transportation Board (STB), defending it as "comprehensive and complete" after their initial filing was rejected for lacking adequate market-share data and specific merger agreement details. New Jersey's Independent Contractor Rules: Finally, we look at the crucial changes to New Jersey's controversial independent contractor rule impacting truckers. Trucking companies are breathing a cautious sigh of relief as the revised rule removes language that would have classified a worker as an employee simply because the company required them to comply with federal or state safety regulations. Follow the FreightWaves NOW Podcast Other FreightWaves Shows Learn more about your ad choices. Visit megaphone.fm/adchoices

In this episode, we kick things off by examining a massive technology leap in truck terminal automation as Outpost unveils its second-generation gate kiosk that deploys in just one day and slashes gate operating costs by up to seventy percent. This marks a seismic shift from traditional automated gate systems that require months of installation work, and the Austin-based company now processes more than three million gate events annually across more than thirty terminals while replacing manual staffing that typically costs twenty-five thousand dollars or more per gate monthly. Next, we explore a major shakeup in the financial sector that will fundamentally reshape trucking lending as BMO's massive transportation lending business is being sold to private equity firm Stonepeak while the bank retains a minority nineteen point nine percent stake. BMO's transportation group is believed to be one of the largest lenders in the trucking business, with a book of business totaling twelve point four two billion Canadian dollars, and the timing has raised eyebrows as the sales process began near the bottom of the freight market's years-long slump while markets are now rapidly strengthening. Finally, we cover a strategic leadership move in the intermodal sector as Consolidated Chassis Management appoints Tara Pellicori as its first-ever general counsel to oversee all legal, regulatory, and compliance matters. Pellicori, who most recently served as director and associate general counsel at Subaru of America, will partner closely with leadership to support aggressive expansion and ensure the Rockaway, New Jersey-based company grows responsibly while delivering value to partners and customers across the intermodal ecosystem. Follow the FreightWaves NOW Podcast Other FreightWaves Shows Learn more about your ad choices. Visit megaphone.fm/adchoices

In this episode, we kick things off by examining the escalating regulatory battle over the proposed Union Pacific-Norfolk Southern mega-merger. Canadian National is urging federal regulators to reject the amended application, arguing that the filing still omits critical information needed to assess competitive impacts. CN criticizes the proposed Committed Gateway Pricing program as temporary and highly limited, excluding major traffic categories and applying to less than one percent of U.S. rail traffic. Next, we explore the auto logistics sector where Proficient Auto Logistics reported a brutal first quarter that sent its stock tumbling nearly nineteen percent. Extended automotive plant shutdowns, severe winter weather, and disrupted rail and sea transportation pipelines pushed the company's operating ratio to a staggering one hundred three point four percent. However, management remains optimistic that improved March trends and stronger seasonal factors will stabilize second-quarter performance. Finally, we cover the rapid expansion of autonomous trucking as Kodiak AI posted seventy-four percent quarter-over-quarter revenue growth and expanded its driverless fleet to twenty-eight trucks. The company deployed eight additional fully driverless trucks during the first quarter and accumulated more than twenty-three thousand five hundred cumulative hours of paid operations. Kodiak also secured one hundred million dollars in new financing and launched a partnership with Roehl Transport for regular Dallas-Houston freight lanes. Follow the FreightWaves NOW Podcast Other FreightWaves Shows Learn more about your ad choices. Visit megaphone.fm/adchoices

In this episode, we kick things off by examining the severe financial pressures facing trailer manufacturer Wabash National as Moody's slashes its debt rating for the third time in twelve months, dropping the corporate family rating to B3 on May fifth. The rating agency warns that Wabash's credit metrics will remain at unsustainable levels as trailer shipments have collapsed from over thirteen thousand units quarterly in late 2022 to just over five thousand in Q1 2026, while cash reserves have plummeted from $144.5 million to only $31.9 million. Next, we shift to the labor market, where April delivered a surprising surge of four thousand three hundred new trucking jobs, marking the largest one-month gain since September 2023. This jump is particularly significant following a twelve-month period where employment declined nine times, and industry experts say it reflects growing confidence driven by nearly six months of steady rate improvement and gradually tightening capacity. Finally, we unpack the dramatic collapse at Forward Air, where shares plummeted over forty percent after the company disclosed it is losing a major customer representing approximately ten percent of its $2.5 billion in annual revenue. The customer cited risk management and logistics diversification as reasons for the change, and the loss derailed Forward's take-private efforts, forcing management to pivot toward selling its intermodal unit and two smaller legacy businesses to delever the balance sheet. Follow the FreightWaves NOW Podcast Other FreightWaves Shows Learn more about your ad choices. Visit megaphone.fm/adchoices

In this episode, we kick things off by examining a major compliance crackdown that has shaken up the electronic logging device market. The Federal Motor Carrier Safety Administration revealed that a staggering 67 devices have been revoked since January 2025, with two more manufacturers just added to the list for failing to meet minimum technical requirements. Carriers currently using these revoked devices face a tight deadline to switch to compliant ELDs or risk being placed out of service after the sixty-day grace period expires on July 7, 2026. Next, we explore the electric vehicle sector where Tesla's long-awaited Semi has just landed a blockbuster deployment order. Listen in to learn how WattEV ordered 370 Tesla Semi trucks in what will become California's largest single electric truck deployment, with more than 300 units operating under a joint program with the Port of Oakland. To support this massive fleet, WattEV plans to open truck-charging stations equipped with Tesla's Megawatt Charging System chargers that can add 300 miles of range in about thirty minutes. Finally, we unpack the Southeast's most ambitious infrastructure project as Georgia Ports outlined a nearly $5 billion self-financed investment plan to add five new big ship berths and support a projected 54 percent growth in container throughput. Researchers at Georgia Tech found that routing cargo through Savannah saves shippers more than $1,000 per container when delivering to key inland markets compared to West Coast gateways, cementing the port's dominance as the Southeast's logistics gateway of choice. Follow the FreightWaves NOW Podcast Other FreightWaves Shows Learn more about your ad choices. Visit megaphone.fm/adchoices

In this episode, we kick things off by examining a major freight broker navigating a brutally tough first quarter but projecting a significant turnaround ahead. RXO released its earnings Thursday morning, reporting a first-quarter adjusted EBITDA of just six million dollars, down sharply from twenty-two million dollars a year earlier. Despite compressed margins, the company aggressively shifted its strategy by increasing its spot mix to thirty-three percent of volume, helping produce what RXO described as the largest sequential increase in gross profit per load in more than three years. Looking ahead, the broker is forecasting a much stronger second quarter with adjusted EBITDA expected to land between twenty-seven million dollars and thirty-seven million dollars. Next, we explore the trade sector where billions of dollars in tariff refunds are finally beginning to flow through a newly launched federal portal. U.S. Customs and Border Protection rolled out its Consolidated Administration and Processing of Entries tool, known as CAPE, on April twentieth within the Automated Commercial Environment portal. The digital platform is processing claims far more efficiently than anticipated, with refunds potentially arriving in early May. However, a massive readiness gap is emerging, as CBP estimates roughly forty-six billion dollars in refunds is currently stalled for importers that have not completed ACH refund authorization or established proper portal access. Finally, we cover a controversial regulation governing commercial driver's licenses as a federal court denied a request to block the rule for non-domiciled drivers on Tuesday. A three-judge panel in the U.S. Court of Appeals for the District of Columbia denied a motion seeking to stay enforcement of FMCSA's rule, which became effective March sixteenth and specifies that non-domiciled CDLs are available only to H-2A, H-2B, and E-2 visa holders, excluding asylum seekers, asylees, DACA recipients, refugees, and people with temporary protected status. While the stay was denied, the combined cases will move forward with petitioners' briefs due June fifteenth and oral arguments expected in September. Follow the FreightWaves NOW Podcast Other FreightWaves Shows Learn more about your ad choices. Visit megaphone.fm/adchoices

In this episode, we kick things off by examining a critical early bellwether for the logistics sector as GXO Logistics posts double-digit revenue growth in the first quarter, easily topping Wall Street expectations. The Greenwich-based contract logistics giant reported revenue of three point three billion dollars, up nearly eleven percent year over year, while swinging back to profitability with five million dollars in net income compared to a ninety-five million dollar loss a year earlier. CEO Patrick Kelleher highlighted record commercial pipeline momentum and the company's aggressive push into AI, automation and robotics to drive efficiency across strategic growth sectors. Next, we head to the mid-Atlantic port sector where Tradepoint Atlantic and MSC break ground on a massive Baltimore container terminal that developers hope will fundamentally reshape intermodal shipping in the region. The partners plan to invest one point two billion dollars to build the one hundred sixty-eight-acre Sparrows Point Container Terminal on the site of a former Bethlehem Steel mill, creating annual capacity of more than one million containers with berthing for two ultra-large vessels and seven ship-to-shore cranes. The terminal's first berth is scheduled for completion by two thousand twenty-eight, with full build-out targeted for two thousand thirty. Finally, we explore the geopolitical battle brewing over strategic canal infrastructure as Panama's bidding process for seized container terminals appears stacked against U.S. companies, according to a source familiar with the matter. After Panama's Supreme Court invalidated Hong Kong-based CK Hutchison's concessions to run terminals at Balboa and Cristobal—key transshipment hubs connecting Asia-Americas trade routes—the government seized control and assigned temporary operating rights to APM Terminals while preparing a new concessions process. Despite President Trump's stated intentions for significant U.S. presence at the canal, American companies like SSA Marine and Ports America are not expected to score well under Panama's evaluation criteria. Follow the FreightWaves NOW Podcast Other FreightWaves Shows Learn more about your ad choices. Visit megaphone.fm/adchoices

In this episode, we kick things off by examining Union Pacific's massive eighty-five billion dollar acquisition of Norfolk Southern and the railroad's newly disclosed conditions for walking away from the deal. UP has made clear it will abandon the merger if the Surface Transportation Board orders widespread trackage rights or line sales as approval conditions, though it would accept a requirement to spin off one duplicative main line between Kansas City and St. Louis. If burdensome conditions trigger Union Pacific's exit, it will owe Norfolk Southern a staggering two point five billion dollar breakup fee. Meanwhile, out on the water, a critical geopolitical milestone unfolded in one of the world's most strategic maritime chokepoints. A Maersk ro-ro carrier became the first U.S.-flag vessel to safely exit the Strait of Hormuz under American naval protection after months in the Persian Gulf. The Alliance Fairfax, operated by Farrell Lines and part of the Maritime Security Program, completed the high-stakes transit at a fraught time as the U.S. and Iran exchanged threats amid a fragile ceasefire. Finally, we explore Amazon's aggressive expansion into third-party logistics as the e-commerce giant officially rebranded its freight and fulfillment services under the unified Amazon Supply Chain Services umbrella and opened them to all businesses. Backed by over eighty thousand trailers and one hundred freighter aircraft, the move transforms Amazon into a direct competitor to traditional carriers, with early clients including Procter & Gamble and American Eagle Outfitters. Wall Street reacted sharply, sending UPS stock down nine point five percent on fears of massive disruption to the freight transportation industry. Follow the FreightWaves NOW Podcast Other FreightWaves Shows Learn more about your ad choices. Visit megaphone.fm/adchoices

In this episode, we kick things off by examining a Kentucky congressman's demand to permanently ground an aging cargo jet following a catastrophic Louisville crash that killed fourteen people. Representative Morgan McGarvey has officially petitioned the FAA to permanently shut down the entire McDonnell Douglas MD-11 fleet after UPS Flight 2976's left engine detached during takeoff, igniting a fire and slamming the aircraft into buildings. While UPS has retired its remaining twenty-eight MD-11s, FedEx is ramping up preparations to reactivate all twenty-seven of its MD-11 freighters as soon as the FAA lifts its current flight ban. Next, we explore the truckload sector where multimodal transportation provider Schneider National is aggressively targeting significant rate recovery during the current bid season with price renewals at the highest levels since 2021. Management is explicitly seeking mid- to high-single-digit one-way contract rate increases and double-digit increases with transactional shippers, as pricing at those accounts fell the most during the prolonged downturn. Finally, we head to the Gulf Coast where Port Houston has secured a forty-eight-million-dollar federal grant through the U.S. Maritime Administration to expand and modernize its Bayport Container Terminal. The project will support construction of a new container yard and exit gate designed to increase capacity by about four hundred forty thousand TEUs, reduce chronic truck congestion, and save millions of hours over the life of the project. Follow the FreightWaves NOW Podcast Other FreightWaves Shows Learn more about your ad choices. Visit megaphone.fm/adchoices

In this episode, we kick things off by examining the latest quarterly results from a major multimodal carrier that signal improving fundamentals in the truckload market. Listen in to learn how Schneider National exceeded Wall Street expectations with better-than-expected earnings and revenue growth despite disruptive winter weather and fuel volatility. The company's strong execution on cost discipline and productivity initiatives allowed it to capitalize on a structurally healthier freight environment marked by ongoing supply rationalization. Next, we explore a blockbuster development in autonomous trucking as Aurora Innovation and Hirschbach Motor Lines dramatically expand their partnership to deploy 500 driverless trucks powered by Aurora's virtual driver technology. With deliveries beginning in 2027, this massive fleet expansion will generate an estimated 500 million autonomous miles and establish a multi-year revenue stream worth hundreds of millions of dollars for Aurora under its innovative Driver as a Service model. Finally, we unpack a puzzling paradox in the ocean freight sector where trans-Pacific container rates continue climbing despite traditionally low seasonal demand due to the ongoing Strait of Hormuz blockade by U.S. forces. The Persian Gulf crisis has sent oil prices to record highs and pushed diesel well over $5 per gallon, keeping ocean freight costs elevated during what is normally the weakest pricing period of the year following the post-Lunar New Year lull. Follow the FreightWaves NOW Podcast Other FreightWaves Shows Learn more about your ad choices. Visit megaphone.fm/adchoices

In this episode, we kick things off with a historic technological breakthrough as Houston-based Bot Auto has officially completed the first fully humanless, over-the-road commercial truckload in American history. The autonomous tractor hauled commercial freight 231 miles across Texas without a safety driver, remote operator, or in-cab observer, achieving a remarkably low cost per mile of just $1.89 compared to the industry average of $2.26. Bot Auto operates as a trucking carrier using its Transportation as a Service model with a fleet of 12 tractors and owned and leased trailers. Next, we explore the less-than-truckload sector where XPO is absolutely crushing Wall Street expectations and aggressively winning profitable market share with first-quarter earnings that beat consensus by 13 cents. The Greenwich, Connecticut-based logistics giant reported consolidated revenue of $2.1 billion, up 7% year over year and significantly ahead of analyst forecasts. XPO's LTL unit posted an impressive 83.9% adjusted operating ratio, defying normal seasonal deterioration patterns and improving 200 basis points year over year. Finally, we cover the regulatory battle over the proposed transcontinental rail mega-merger as Union Pacific and Norfolk Southern submitted an amended merger application to the Surface Transportation Board after their initial filing was rejected as incomplete in January. The revised application now projects the combined railroad will shift 2.1 million truckloads annually from highway to rail, saving shippers an estimated $3.5 billion per year, and will require 1,200 net new union jobs by the third year of the merger. Follow the FreightWaves NOW Podcast Other FreightWaves Shows Learn more about your ad choices. Visit megaphone.fm/adchoices

In this episode, we kick things off by examining one of the industry's premier less-than-truckload carriers as Old Dominion Freight Line reported first-quarter earnings that beat Wall Street consensus by 9 cents. Revenue of $1.33 billion came in $20 million ahead of consensus and above the top end of management's guidance range. Despite tonnage declining 8% year over year, the company delivered a remarkably strong 76.2% operating ratio, roughly 200 basis points better than implied guidance. Next, we explore the escalating liability crisis that continues to plague the trucking industry. An $81 million jury award in Utah against Allied Building Products is being called the largest civil verdict ever awarded in that state. The case stemmed from a tragic December 2018 incident in which an Allied day cab struck and killed a 12-year-old boy in a crosswalk. Following the retrial verdict, the two sides reached a confidential settlement that was fully covered by insurance, but the award joins a growing body of massive nuclear verdicts that demonstrate just how severe trucking liability exposure has become. Finally, we head to the East Coast to examine how the Port of Virginia is investing $1.4 billion to solidify its position as America's most modern container gateway. Interim CEO Sarah McCoy revealed that the facility has increased container volume 20% to 3.4 million TEUs since 2021, lifting it to sixth place among all American container hubs. The port's Gateway Investment Program includes channel deepening to 55 feet—the deepest in the country—and new ultra-large container vessel cranes that are expected to commence operations in June. Follow the FreightWaves NOW Podcast Other FreightWaves Shows Learn more about your ad choices. Visit megaphone.fm/adchoices

In this episode, we kick things off by examining a puzzling phenomenon in cross-border logistics where capacity appears plentiful on paper but remains brutally tight in practice. According to Uber Freight's senior vice president overseeing cross-border operations, the real constraint isn't a lack of drivers overall but rather a critical shortage of drivers who meet increasingly stringent compliance and security standards. With northbound demand into the U.S. running two to three times higher than southbound flows and uncertainty around the upcoming USMCA review slowing nearshoring investment, carriers are struggling to reposition equipment fast enough to keep pace with U.S.-bound freight. Shifting gears to the rails, we examine how rail technology giant Wabtec delivered a powerful start to 2026 with solid execution across both its freight and transit divisions. First quarter revenue grew 13% to $2.95 billion while adjusted earnings per share surged 18.9% to $2.71, driven by a 52.5% jump in equipment sales from higher locomotive deliveries and a remarkable 75.7% increase in digital sales fueled by strategic acquisitions. On the strength of these results, Wabtec raised its full-year adjusted earnings per share guidance by 20 cents at the midpoint, projecting growth of 16.5% for 2026. Finally, we unpack the contrasting fortunes at a major Canadian transportation company where TFI International's Truckload sector improved while its LTL division struggled in the first quarter. TFI handily beat Wall Street expectations with non-GAAP earnings per share of 69 cents—8 cents above consensus—as its Truckload segment posted a 14.32% jump in operating income and adjusted EBITDA growth exceeding 4%. However, the less-than-truckload division saw its combined operating ratio deteriorate 220 basis points to 95.3% and operating income decline 35.12%. Despite the mixed performance, management issued strong second quarter guidance, projecting adjusted diluted earnings per share of $1.50 to $1.60—more than double the first quarter result. Follow the FreightWaves NOW Podcast Other FreightWaves Shows Learn more about your ad choices. Visit megaphone.fm/adchoices

In this episode, we kick things off by examining a high-stakes legal showdown as New York Attorney General Letitia James files a lawsuit against the Department of Transportation to block the withholding of approximately $73 million in federal highway funding from the state. The federal government claims New York improperly issued commercial driver's licenses to non-domiciled individuals and is demanding revocation, while Governor Kathy Hochul pushes back hard, calling the action political payback. Next, we explore a major acquisition in the logistics technology sector as Descartes Systems Group announced it has acquired Pittsburgh-based fleet safety solutions provider Idelic for $28 million in cash. Idelic's AI-powered platform brings a massive dataset to the table, including over 40 billion miles of driving data and more than 400,000 accident reports, designed to predict driver risk and optimize safety training interventions across fleets. Finally, we cover a strategic expansion in freight infrastructure leadership as the Coalition for America's Gateways and Trade Corridors voted to add GATX Corporation's Wes Lujan to its board of directors for a three-year term. Lujan, vice president of Government and Industry Affairs for the railcar and locomotive lessor, will bring critical private-sector perspective as the coalition guides federal investment and policy decisions during the upcoming surface transportation reauthorization debates in Congress. Follow the FreightWaves NOW Podcast Other FreightWaves Shows Learn more about your ad choices. Visit megaphone.fm/adchoices

In today's episode, we discuss the recent surge of financial closures hitting small carriers and brokers across the country. Listen in to learn why Illinois has become a major hotspot for these trucking liquidations, driven by tight margins and elevated operating costs. We also explore a concerning new cargo security threat that involves criminal networks infiltrating legitimate carriers rather than setting up fake companies. This elaborate scheme allows thieves to pass normal hiring checks and slowly gain access to high-value loads before orchestrating a routine-looking theft. Finally, we cover the latest developments in autonomous trucking as a major technology developer cancels its plans to go public via a SPAC merger. Despite the deal falling apart due to market conditions, the company continues to project strong revenue and retains the backing of its high-profile investors. Follow the FreightWaves NOW Podcast Other FreightWaves Shows Learn more about your ad choices. Visit megaphone.fm/adchoices

In this episode, we dive into the truckload sector where Knight-Swift is signaling a surprisingly bullish outlook on market fundamentals despite reporting a messy first quarter. We discuss how recent weather disruptions and fuel headwinds have exposed market tightness, leading the carrier to target high single to low double-digit rate increases during bid season. Shifting gears to the rails, we examine CSX's stronger first-quarter earnings, which were driven by a combination of lower costs and higher shipment volumes. The railroad's quarterly operating income surged 20%, heavily supported by a 6% jump in intermodal freight as customers sought relief from rising trucking and fuel costs. Finally, we explore the latest advancements in commercial fleet decarbonization by looking at the Shell Starship 3.0 natural gas truck. By utilizing a 15-liter natural gas engine, an aerodynamic carbon fiber cab, and off-the-shelf components, this vehicle achieved a massive two-and-a-half times improvement in freight efficiency. Follow the FreightWaves NOW Podcast Other FreightWaves Shows Learn more about your ad choices. Visit megaphone.fm/adchoices

In this episode, we explore how CSX has curtailed operations at its major Chicago terminal to improve overall network efficiency and reduce transit times. We discuss the strategic shift of freight traffic to partner railways and the resulting union backlash surrounding the elimination of local yard jobs. Next, we head north to examine a massive wave of logistics investments sweeping across Canada, highlighted by a targeted $1.6 billion acquisition by Nippon Express. The country is also seeing major infrastructure expansions from Toyota, accelerated electric fleet rollouts from Coca-Cola, and enhanced cross-border compliance services. Finally, we break down how Triumph Financial posted a remarkably strong first quarter in its factoring division, successfully outperforming typical seasonal trends. We dive into the company's new core metrics focused on revenue growth and margins, as well as its successful integration of artificial intelligence to efficiently process millions of invoices. Follow the FreightWaves NOW Podcast Other FreightWaves Shows Learn more about your ad choices. Visit megaphone.fm/adchoices

We kick off this episode in Washington, where Federal Maritime Commission Chairman Laura DiBella discusses how the agency's priorities have shifted to address a wave of transformational global crises. As detailed in our coverage of how the U.S. is adapting its maritime focus, geopolitical challenges recently led the regulatory body to reject emergency fuel surcharges from ocean carriers to ensure better financial accountability. Next, we head north to examine the massive labor dispute that drove Canada Post to its largest recorded pre-tax loss in history. After strike activity caused a staggering 87% widening of its annual deficit, the government-owned operator is navigating a comprehensive turnaround strategy that includes phasing out residential delivery. Finally, we unpack the intense public scrutiny surrounding one of the world's largest freight brokers after a national television broadcast questioned its safety practices. While the logistics industry awaits a landmark Supreme Court decision regarding legal responsibility for accidents, C.H. Robinson continues to defend its operations by emphasizing its strict reliance on federal regulatory data to vet trucking companies. Follow the FreightWaves NOW Podcast Other FreightWaves Shows Learn more about your ad choices. Visit megaphone.fm/adchoices

We kick off this episode by looking at the air cargo sector, where National Airlines is preparing to launch its first Boeing 777-200 freighter into service this May. This new twin-engine aircraft offers a 112-ton payload and increased fuel efficiency for a market currently facing tightening widebody availability. Out on the water, experts warn that the Strait of Hormuz may remain restricted for six months or more even after the war concludes due to unmarked mines scattered in the waterway. These severe safety hazards have caused marine insurers to declare force majeure and drastically hike war risk premiums for commercial vessels. Finally, we head down to the border to examine how Mexico's heavy-duty truck exports experienced a noticeable decline during the month of March. This manufacturing contraction is directly tied to cautious fleet investments in the United States, which remains the dominant market for these outbound shipments. Follow the FreightWaves NOW Podcast Other FreightWaves Shows Learn more about your ad choices. Visit megaphone.fm/adchoices

In this episode, we dive into the latest freight market shifts, starting with major shipper groups demanding transparency in the proposed mega-merger between Union Pacific and Norfolk Southern. We discuss why these organizations are petitioning the Surface Transportation Board to unseal critical documents to better understand the true impact on freight rail competition. Next, we explore the truckload sector where the industry's largest player, Knight-Swift Transportation, has dialed back its first-quarter financial expectations. Despite severe winter weather and depressed spot rates dragging down margins, executive leadership remains highly optimistic about the long-term fundamentals of the market. Finally, we look at how the gig economy is tackling the multi-billion dollar headache of reverse logistics with Uber Eats' brand new retail returns feature. This innovative service allows consumers to easily return unwanted packages directly from their doorsteps, marking Uber's aggressive expansion into a comprehensive everyday logistics platform. Follow the FreightWaves NOW Podcast Other FreightWaves Shows Learn more about your ad choices. Visit megaphone.fm/adchoices

In this episode, we kick things off by examining the recent strategic tie-up between capacity management platform Parade and the trucking fuel app Mudflap. This partnership embeds digital freight matching directly into an app drivers already use, allowing brokers to instantly push spot loads to a massive pool of independent owner-operators. Next, we shift over to the rails to discuss how the industry plans to win back market share from the trucking sector. According to Norfolk Southern leadership, solving the rail industry's growth problem relies entirely on delivering consistent, highly reliable service to commercial shippers. Finally, we break down J.B. Hunt's first-quarter earnings to understand what they reveal about the broader financial health of the freight sector. Because the logistics giant navigated a highly challenging quarter with compressed revenue yields, analysts are closely watching these results as a critical leading indicator for the spring transportation market. Follow the FreightWaves NOW Podcast Other FreightWaves Shows Learn more about your ad choices. Visit megaphone.fm/adchoices

In today's episode, we discuss the harsh realities of the domestic surface market as a wave of bankruptcies among small and mid-sized carriers sweeps across the United States. Facing a prolonged freight recession, depressed spot rates, and high operating costs, vulnerable carriers are simply running out of financial runway and filing for Chapter 11. Next, we explore how logistics giant UPS is deploying cutting-edge technology by expanding its use of automated package sensors to virtually eliminate lost parcels. This massive rollout of RFID labels will streamline sorting operations, drastically reduce misloads, and give e-commerce shippers unprecedented real-time visibility into their freight's exact location. Finally, we look at a major new tech integration that aims to make life easier for drivers as the navigation app Trucker Path seamlessly connects with the Truckstop.com load board. By combining high-quality freight matching with real-time truck routing and parking availability, this strategic tie-up helps to reduce deadhead miles for independent drivers battling a tight spot market. Follow the FreightWaves NOW Podcast Other FreightWaves Shows Learn more about your ad choices. Visit megaphone.fm/adchoices

In this episode, we unpack the sudden leadership shakeup at the logistics giant following the resignation of FedEx's Chief Financial Officer. His abrupt departure raises critical questions on Wall Street regarding the ongoing integration of the company's express and ground networks and its long-term financial stability. Next, we discuss the dark side of trucking safety and the regulatory loopholes that allow shadowy operators to continuously endanger the public. We dive into a blockbuster CBS investigation where 60 Minutes exposed a notorious chameleon carrier network that evades federal oversight by repeatedly reincarnating under new identities. Finally, we explore the evolving battle for gig economy deliveries as the logistics platform rapidly expands beyond traditional food orders. Discover how Ace Hardware partnered with Uber Eats to transform its vast network of neighborhood stores into hyperlocal micro-fulfillment centers for rapid tool and hardware deliveries. Follow the FreightWaves NOW Podcast Other FreightWaves Shows Learn more about your ad choices. Visit megaphone.fm/adchoices

In this episode, we explore how a proposed city council bill in New York could disrupt Amazon's entire last-mile delivery network. The legislation effectively targets the use of subcontractors, which could force independent delivery service providers to shut down or convert their independent contractors into full employees. Next, we head out on the water, where CMA CGM and its Ocean Alliance partners have launched a new direct container service from Asia to the Port of Jacksonville. This strategic expansion provides shippers with a vital alternative to congested West Coast ports and enhances supply chain diversification for the Southeast. Finally, we unpack the high-stakes boardroom drama at the fleet payments giant WEX, which is currently facing a significant proxy battle from an institutional shareholder. The outcome of this struggle could trigger substantial changes in leadership and impact how operational expenses are handled across the broader trucking industry. Follow the FreightWaves NOW Podcast Other FreightWaves Shows Learn more about your ad choices. Visit megaphone.fm/adchoices

In this episode, we dive into the U.S. Postal Service's aggressive strategy to increase postage rates and preserve cash amid a severe financial crisis. This latest price hike is a core component of their ten-year turnaround plan to plug a bleeding balance sheet and maintain liquidity. Next, we discuss how a catastrophic global network strike was averted after FedEx and its pilots reached a tentative labor agreement. Following five years of grueling negotiations, the new contract promises significant pay increases and enhanced pension plans for over 5,000 flight crew members. Finally, we examine the ongoing warehousing reset by looking at the sudden loss of hundreds of logistics jobs at a massive Texas distribution center. Global logistics giant DSV is completely exiting a dedicated contract at its Wilmer facility, highlighting the intense margin pressures currently facing third-party logistics providers. Follow the FreightWaves NOW Podcast Other FreightWaves Shows Learn more about your ad choices. Visit megaphone.fm/adchoices

In today's episode, we cover the latest developments across air, sea, and rail freight, starting with a major breakthrough in the air cargo sector. We discuss how the Federal Aviation Administration has officially cleared the first-ever Boeing 777-200 passenger-to-freighter conversion, which will provide massive payload capacity and twin-engine fuel efficiency for operators. Next, we shift our focus to the water, where ongoing geopolitical tensions in the Middle East have led to new security and transit tolls for commercial vessels navigating the Strait of Hormuz. We analyze how these new transit levies could add $1 per barrel to crude oil, potentially triggering an aggressive spike in global diesel and bunker fuel prices for carriers already struggling with elevated war risk premiums. Finally, we wrap up with a look at the East Coast, where a long-standing regulatory battle over intermodal rail access has reached a definitive conclusion. The Surface Transportation Board recently awarded Norfolk Southern control of a disputed port rail line, a move expected to streamline complex switching operations, eliminate redundant interchanges, and boost overall intermodal velocity. Follow the FreightWaves NOW Podcast Other FreightWaves Shows Learn more about your ad choices. Visit megaphone.fm/adchoices

In this episode, we explore the new partnership between International, PlusAI, and Ryder to accelerate commercial driverless truck operations. These trucks are currently hauling live freight on the highly congested Temple-to-Laredo corridor to prove that autonomous technology can safely and profitably scale on demanding supply chain arteries. Next, we discuss the newly proposed federal budget that increases military shipbuilding funding by 242% to a staggering $65.8 billion. While this massive spending package aims to rapidly modernize the U.S. Navy fleet, commercial maritime experts warn it could severely strain the broader supply chain by sparking intense bidding wars for specialized labor and materials. Finally, we cover major consolidation in the freight tech space as load board titan Truckstop.com acquires the heavy haul pricing platform Wize Load. By directly integrating Wize Load's proprietary rate quoting and routing algorithms, Truckstop aims to digitize operations and remove the guesswork for specialized carriers navigating the highly lucrative heavy haul spot market. Follow the FreightWaves NOW Podcast Other FreightWaves Shows Learn more about your ad choices. Visit megaphone.fm/adchoices

In today's episode, we kick things off with a massive labor lawsuit shaking up the dedicated grocery logistics sector. A newly filed complaint alleges that Kroger and three commercial carriers unlawfully colluded to block the hiring of former Quickway drivers to suppress wages and prevent unionization efforts, which could result in staggering financial penalties if proven true. Next, we look south of the border where a nationwide strike by Mexican truckers continues to paralyze key cross-border routes and choke off northbound supply chains. Thousands of drivers have intentionally blockaded major arteries leading to vital U.S. ports of entry to protest rampant cargo theft, leaving millions of dollars in freight completely stranded. Finally, we cover how federal regulators are taking a renewed, data-driven look at the nationwide truck parking squeeze. The Federal Motor Carrier Safety Administration has officially launched a comprehensive new study into the crisis and is actively seeking public comments to help direct infrastructure funding to regions where it is needed most. Follow the FreightWaves NOW Podcast Other FreightWaves Shows Learn more about your ad choices. Visit megaphone.fm/adchoices

We kick off the episode with a look at Ryder System's recent financial milestone, as Moody's upgraded their primary debt rating for the first time since the pandemic. The long-awaited upgrade serves as a massive vote of confidence in the leasing giant's strategic pivot toward expanding its dedicated transportation and supply chain segments. Next, we examine how recent emergency tariffs are significantly impacting North American customs data and cross-border trade flows. Companies are actively restructuring their supply chains to mitigate these massive new border costs, which is causing volatile northbound freight volumes and localized capacity crunches out of Mexico. Finally, we cover the latest developments at UPS, where the logistics titan agreed to cap its controversial driver buyout program following fierce pushback from the Teamsters Union. This crucial compromise limits the $150,000 voluntary separation offers to 7,500 employees, allowing UPS to trim immediate costs without triggering a full-blown labor dispute. Follow the FreightWaves NOW Podcast Other FreightWaves Shows Learn more about your ad choices. Visit megaphone.fm/adchoices

This week's episode dives into the massive ripple effects of the Strait of Hormuz closure, which has resulted in Asia-US West Coast ocean spot rates surging by 29%. We explore how shippers are reacting to severe port congestion in Asian transshipment hubs by aggressively paying premium rates to secure desperately needed capacity for the future. Next, we discuss the recent financial boost for Echo Global Logistics, as debt rating agencies Moody's and S&P Global upgraded the 3PL's outlook from stable to positive. This upgraded outlook follows their acquisition of ITS Logistics, which analysts project will significantly improve Echo's free cash flow and boost its EBITDA by over $114 million. Finally, we cover the staggering $4 billion investment by Mercedes-Benz to upgrade its historic assembly plant in Vance, Alabama by 2030. This massive manufacturing expansion will lock in a vital, long-term pipeline of finished vehicle freight for Norfolk Southern, which handles the plant's inbound and outbound logistics. Follow the FreightWaves NOW Podcast Other FreightWaves Shows Learn more about your ad choices. Visit megaphone.fm/adchoices

In today's episode, we dive into the recent chaos in the Midwest as an unexpected regulatory sweep in Indiana pulled critical truck capacity off the roads. Drivers who missed crucial compliance cutoffs found their commercial privileges instantly revoked without a grace period, leaving local fleets frantically scrambling to cover shifts. Next, we examine the landmark truce reached between the Teamsters Union and Amazon regarding unsanctioned warehouse walkouts. This newly established grievance process limits excessive disciplinary action against striking workers while providing the e-commerce titan with much-needed operational predictability. Finally, we analyze the massive geopolitical turbulence surrounding President Trump's potential military exit from the conflict in Iran. With the Strait of Hormuz effectively closed to merchant traffic and a fresh drone attack damaging another commercial tanker, the industry is bracing for a prolonged era of soaring ocean rates and extended transit times. Follow the FreightWaves NOW Podcast Other FreightWaves Shows Learn more about your ad choices. Visit megaphone.fm/adchoices

We kick off this episode by heading north, where DP World is expanding its Canadian supply chain presence with a brand-new freight forwarding office in Quebec. This strategic expansion arrives just as the Montreal Port Authority prepares to build a massive terminal that will more than double the region's container capacity. Next, we dive into the maritime defense sector as a South Korean-owned shipyard in Philadelphia secures its very first U.S. Navy contract since being acquired in 2024. Hanwha Defense USA will partner with a naval design firm to develop agile supply vessels that can refuel and rearm combat ships directly at sea. Finally, the battle over a massive railway merger is heating up as a Union Pacific executive fires back at Canadian National over disputed traffic data. UP accuses its rival of making inaccurate claims about the merger's projected impact, pointing out that both companies actually used the exact same expert for their respective traffic studies. Follow the FreightWaves NOW Podcast Other FreightWaves Shows Learn more about your ad choices. Visit megaphone.fm/adchoices

A major potential strike was averted right before the deadline as DHL Express and its US delivery workers agreed to a new four-year contract. This last-minute resolution ensures uninterrupted service for the company's parcel customers throughout the busy spring shipping season. In the automotive sector, an escalating payment dispute has led Stellantis to file a major lawsuit against a parts supplier, causing a massive Jeep assembly plant in Mexico to idle. This sudden parts shortage is now sending ripple effects across borders, threatening to disrupt manufacturing operations as far north as Windsor, Ontario. Finally, the American Trucking Associations (ATA) walked away empty-handed after seeking over $20 million in legal fees following their battle against the Rhode Island truck tolling program. A federal judge ruled their demand was excessive because they failed to completely block the tolling plan, instead awarding the state of Rhode Island roughly $185,000 in cost reimbursements. Follow the FreightWaves NOW Podcast Other FreightWaves Shows Learn more about your ad choices. Visit megaphone.fm/adchoices

In this episode, we dive into the continuing wave of supply chain distress as a diverse range of freight companies file for Chapter 11 protection. Listeners will learn how these mounting freight bankruptcies are spreading beyond trucking to impact marine operators and last-mile delivery firms, potentially causing widespread service disruptions. We also cover the immense financial toll the ongoing conflict in Iran is taking on global shipping operations. The escalating US-led war is costing Hapag-Lloyd millions every week due to skyrocketing fuel and insurance premiums, while several of their ships remain trapped in the Persian Gulf. Finally, we share some positive news regarding major financial relief on the horizon for domestic maritime infrastructure. The Department of Transportation's Maritime Administration has announced nearly $489 million in available port grants to modernize cargo loading capabilities and streamline supply chain movements. Follow the FreightWaves NOW Podcast Other FreightWaves Shows Learn more about your ad choices. Visit megaphone.fm/adchoices

The US Postal Service is proposing a historic 8% fuel surcharge on parcel products to combat rising transportation costs fueled by the war in Iran. This unprecedented move aims to help the agency manage skyrocketing gasoline and diesel prices while transitioning to a sustainable long-term pricing model. In the logistics sector, intense union pressure has forced UPS to walk back a massive $150,000 driver buyout program across 13 states. The Teamsters union successfully argued that these lucrative separation agreements bypassed regional contracts, stalling the company's efforts to eliminate 30,000 jobs amid falling parcel volumes. Finally, a new real-world freight study by the North American Council for Freight Efficiency is challenging conventional wisdom regarding commercial powertrains. While traditional diesel trucks shattered expectations by hitting 11.5 miles per gallon, electric vehicles like the Tesla Semi proved their long-term viability by completing a 460-mile trip on a single charge. Follow the FreightWaves NOW Podcast Other FreightWaves Shows Learn more about your ad choices. Visit megaphone.fm/adchoices

In today's episode, we explore how FedEx is making a major play for the highly competitive same-day delivery market without using its own trucks. By securing a strategic partnership with the final-mile platform OneRail, the parcel titan aims to match merchants directly with local couriers to challenge Amazon, Walmart, and UPS. Next, we navigate the recent turbulence on Wall Street as Hub Group faces a formal deficiency notice from NASDAQ regarding its delayed 2025 financial results. This delay was expected after the transportation management giant discovered a $77 million accounting error, but Hub Group reassures investors that its cash position and operating cash flows remain unaffected. Finally, we delve into how the rapid rise of artificial intelligence is fundamentally reshaping the freight brokerage workforce. Following a 29% reduction in total headcount over the past two years, C.H. Robinson's recent voluntary buyouts highlight the company's aggressive push to replace manual tasks with automation to boost operating margins. Follow the FreightWaves NOW Podcast Other FreightWaves Shows Learn more about your ad choices. Visit megaphone.fm/adchoices

In this episode, we dive into the high seas where shifting trade patterns and geopolitical tensions are completely reshaping global ocean shipping. As major carriers face restricted routes like the Strait of Hormuz, many are aggressively consolidating and diversifying their assets to survive the industry's volatility. We also explore the ongoing federal push to fortify America's maritime infrastructure and secure vital supply chains. Emphasizing that seaports are the backbone of U.S. economic security, Federal Maritime Commission Chair Laura DiBella notes that immediate financial investments in port enhancements are absolutely critical. Finally, we break down the dramatic conclusion of a landmark federal fraud trial in Louisiana involving intentionally staged collisions between passenger cars and commercial trucks. Two personal injury attorneys are now facing up to 20 years in prison for their roles in a billion-dollar extortion scheme that caused statewide commercial insurance premiums to skyrocket. Follow the FreightWaves NOW Podcast Other FreightWaves Shows Learn more about your ad choices. Visit megaphone.fm/adchoices