Old Dominion Freight Line reported a modest improvement in metrics during February but said market conditions “continue to reflect softness in the domestic economy.” The less-than-truckload carrier saw revenue per day increase 1.2% year over year (y/y) during February, following a 2.7% decline in January. Tonnage was down 3% as a slight increase in shipments…
In a rare instance of internal board of directors disagreements jumping into public view, a director at Werner Enterprises has resigned, citing in part the truckload carrier’s “unquestioned dedication to ESG [environmental, social and governance] considerations as a primary strategy.” Vikram Mansharamani’s resignation came before he faced the likelihood of not being be reelected to…
Transportation prices grew from depressed levels for a second time in as many months during February, a Tuesday supply chain report showed. However, the rate of growth in transportation capacity was higher, signaling a meaningful recovery in the freight cycle is not yet underway. The subindex for transportation prices (57.6) increased 1.8 percentage points sequentially…
Memphis, Tennessee-based intermodal logistics provider IMC Logistics has acquired American Pacific Transportation, boosting the company’s drayage truck capacity across California. “As a result of this acquisition, we will have more than 500 trucks in California, signifying our commitment to our customers in this region,” Joel Henry, IMC’s CEO, said in a news release. American Pacific…
A New York truck driver was recently sentenced to six months in prison after pleading guilty to stealing a tractor-trailer loaded with 1,560 cases of Mike’s Hard Lemonade worth nearly $33,000. Kelvin Garcia Liriano, 28, of New Rochelle, New York, was sentenced Friday in Westchester County Court in White Plains, New York, after pleading guilty…