A family-owned trucking company and brokerage — California Intermodal Associates Inc. (CIA), headquartered in Commerce, California — is ceasing operations after nearly 25 years, citing the state’s independent contractor law. CEO Gabriel Chaul said he recently notified customers that he is winding down operations. “I blame AB5 for the main reasons our company is closing,”…
On March 31, 2022, FreightWaves declared that a freight recession was imminent. More than two years later, the freight market remains in one of its deepest and longest recessions in history. Our original conclusion was derived from signals from FreightWaves SONAR. Its high-frequency datasets, which track freight supply and demand in real time, indicated an…
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U.S. parcel revenue has seen the first decline in seven years despite increased parcel volume, according to an annual report from Pitney Bowes. The U.S. Parcel Shipping Index, released Wednesday by the global shipping and mailing company, highlighted 2023’s shifts in the carrier-competitive landscape and consumer behaviors. U.S. parcel revenue fell 0.03% from $198.4 billion…
J.B. Hunt Transport Services said it would stay the course, increasing intermodal capacity ahead of demand to avoid the service failures the industry experienced during the pandemic. That means carrying a higher cost burden and potentially posting earnings misses like it did in the 2024 first quarter. The multimodal provider reported first-quarter earnings per share…