UPS Inc. (NYSE: UPS) lost about 5% of its domestic average daily volume, almost exclusively to rival FedEx Corp., (NYSE: FDX) due to shipper concerns over a possible strike by the Teamsters union, according to consultancy ShipMatrix Inc. ShipMatrix, which compiles extensive data on industry trends and issues, said about 1 million parcels were diverted…
During the peak of the supply chain crisis, accusations flew, alleging that shipping lines were somehow colluding to prop up rates and gouge customers. Recent results posted by ocean carriers undermine those claims. They show the container shipping market behaving the same way commodity shipping markets always have: Rates spike when cargo demand exceeds transport…
Truckload carrier Heartland Express said Monday it hasn’t seen a seasonal improvement in demand. Heartland (NASDAQ: HTLD) reported second-quarter earnings per share of 10 cents, 6 cents light of the consensus estimate and well below the 29 cents it booked last year (excluding gains on real estate sales). The quarter included roughly $6 million in…
On today’s episode of WHAT THE TRUCK?!?, Dooner is talking about the fall of Yellow. At noon ET on Sunday, the 99-year-old carrier shut the gates. With a formal bankruptcy announcement expected today by the company, we look back at the last days of Yellow. Can ocean imports save a sagging truckload market? Marine Traffic’s…
“Poor track conditions” of a track owned by BNSF may have contributed to a fatal September 2021 accident involving an Amtrak train derailment in Joplin, Montana, according to the National Transportation Safety Board. But NTSB’s investigation report also points to wider questions on how the freight rail industry should deploy technological tools such as autonomous…