There were some key points in the second-quarter earnings release of truckload carrier Covenant Logistics (NASDAQ: CVLG). The dedicated division operating ratio was improved, the expedited OR was significantly weaker and the end result was a combined truckload OR that dropped 270 basis points compared to the second quarter of 2022. In a weak freight…
FreightWaves has written extensively in recent months about the continued profound weakness in U.S. goods demand, which has been reflected in unusually weak truck, rail and corrugated box volumes, among other areas. Indeed, we just reported on continued historically weak box demand earlier this week. In our coverage of the retail and consumer packaged goods…
The Shipper of Choice award, presented by FreightWaves in partnership with TriumphPay, recognizes the manufacturers, distributors and retailers that do the best job of keeping the American economy moving by fighting driver detention, providing accessible facilities and understanding what it takes to remove inefficiencies from the supply chain. Among the top 25 Shippers of Choice…
Yellow’s senior vice president of sales informed her staff on Wednesday that their last day would be Friday and the less-than-truckload carrier will file bankruptcy on Monday, according to three employees who attended the video call. Yellow (NASDAQ: YELL) is the third-largest LTL company and employs some 30,000 workers, including around 22,000 Teamsters members. The…
On-time performance is one of the most important metrics in the transportation industry. When shipments arrive late, companies lose money and jeopardize important partnerships. When it comes to temperature-controlled shipments, however, the stakes are even higher. “Temperature-controlled is a completely different beast. It is over 100 degrees in the Southeast. Customers want to make sure…