Employees at Yellow Logistics confirmed to FreightWaves they were terminated Tuesday as part of widespread layoffs at the independent subsidiary of Yellow Corp. But whether this was tied to an actual shutdown of the 3PL was not clear Tuesday night. One employee said all staff were given short notice to dial into a company-wide conference…
Schneider National announced Tuesday after the market closed it has acquired dedicated carrier M&M Transport Services for an undisclosed sum. Massachusetts-based M&M Transport operates a fleet of 500 trucks and 1,900 trailers out of 12 locations in the Northeast, Midwest and Southwest. The company’s account list includes Fortune 500 retail and manufacturing companies. Financial terms…
The big surprise for shipping stocks has been the outperformance of certain container industry names despite the post-boom plunge in volumes and freight rates. Container-equipment lessor Textainer (NYSE: TGH) is a case in point. Textainer’s stock just hit its highest price since the company went public in 2007. Its shares are doing even better than…
WASHINGTON — Revisions made to a proposed rule aimed at curbing the ability of container ship carriers to refuse to provide vessel space to their customers has delved into the dangerous area of price regulation, according to the carriers. In a rulemaking proposed last year, the U.S. Federal Maritime Commission attempted to define what is…
Transportation prices fell again in July but at a slower rate than in the prior two months, according to data compiled in the Logistics Managers’ Index (LMI). Prices registered a 35.6 reading during the month, well below a neutral level of 50, but the falloff wasn’t as sharp as the record rate of decline set…