Trucking, logistics and truck stop chains are collectively owed millions of dollars after a Virginia-based logistics firm recently shuttered operations and filed for bankruptcy liquidation. TBL Logistics, headquartered in Appomattox, Virginia, filed its petition on Feb. 29 in the U.S. Bankruptcy Court for the Western District of Virginia. In its filing, TBL Logistics listed its…
This fireside chat recap is from FreightWaves’ 3PL Summit on Wednesday. FIRESIDE CHAT TOPIC: Future of Freight Brokerage Software DETAILS: Walter Mitchell, CEO of Tai Software talks about recent developments and innovations impacting freight broker software. He dives into how automation and AI are changing operations and workflows while removing needless manual tasks. KEY QUOTES…
Sharply lower yields due to excess capacity from passenger flights combined with higher costs led to an 86% plunge in Lufthansa Cargo’s operating profit in 2023, underscoring how challenging the year was for the entire air logistics industry. Lufthansa Group (DXE: LHA) on Wednesday reported its third best financial results in history, but the cargo…
Supply chain software provider E2open, with a new CEO in place and Elliott Investment Management still holding a significant stake in the company, is initiating a “strategic review” on its future. The announcement Thursday morning sent the company’s stock price climbing. At the close, E2open’s stock on the Nasdaq was $4.33 a share, up 6.91%…
Pilot Travel Centers is adding 35 travel centers and more than 500 truck parking spaces across the country as part of its 2024 growth plan. Tennessee-based Pilot, North America’s largest travel center network, also plans to add more than 30 truck maintenance and tire service shops to its travel centers. “Expanding into new communities and…