Luminus Management LLC has acquired Mexico-based carrier Jaguar Transportation, a former subsidiary of bankrupt carrier Celadon, in an all-cash stock purchase transaction. The acquisition includes over 775 tractor-trailers and five freight facilities throughout Mexico, according to a news release. Jaguar Transportation, a trucking company focused on cross-border trade with the U.S., is based in Monterrey,…
The benchmark diesel price used for most fuel surcharges did something this week that had not happened since April 2021: nothing. For the second consecutive week, the Department of Energy/Energy Information Administration posted a price of $3.806 a gallon for the closely watched number. Diesel futures markets had been trending higher for the past two…
Debt ratings agencies may recently have cast a negative view of brokerage houses, but Moody’s has increased the outlook on Odyssey Logistics & Technology from stable to positive. The 3PL’s debt rating was affirmed at existing levels. RXO (NYSE: RXO) last month held on to its debt rating of BB+ from S&P Global Ratings (NYSE:…
If you’re only shipping a handful of pallets, it makes sense that you should only pay for that amount of space, right? Less-than-truckload shipping makes it possible for businesses to cost effectively send smaller shipments. In recent years, it has become an important part of many retailers’ shipping strategies. As such, more freight brokers and…
The number of affected vehicles is barely noticeable — until you count the number of recall campaigns. Electric trucks are having early life quality problems. The latest of 10 electric truck recalls in the past three months was reported on the National Highway Traffic Safety Administration website Monday. It involves the loss of power to…