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Seko Logistics gets capital infusion
Global freight forwarder Seko Logistics said Thursday it has entered a recapitalization agreement with its financial partners to cure its balance sheet. Financial terms of the transaction were not disclosed, but the deal is a “landmark transaction” that will stabilize the company and allow it to focus on its “long-term growth trajectory,” a news release…
How Houthis shocked shipping; freight’s new magazine; retail tech – WTT
On episode 672 of WHAT THE TRUCK?!?, Dooner is talking to FreightWaves’ Rachel Premack about how the Red Sea conflict has massively changed shipping outlooks, costs, timelines and supply chain security. Tecsys’ Guy Courtin tells us how their Shopify-powered order management system is helping transform Canadian fashion retailer Eclipse Stores’ supply chain. Loyalty Logistics’ Sean…
How scary is the Q4 trucking market?; trucker loses 200 pounds; carrier bankruptcy | WHAT THE TRUCK
On Episode 776 of WHAT THE TRUCK?!?, Dooner is talking to FreightWaves’ Kyle Taylor about whether carriers will have a frightening time in the freight market this quarter. They’ll break down all the volumes, rejects and rates driving the market into 2024. Truck drivers have an average life expectancy of 61. Garrett Steenblik was driving…
Marten, citing weak freight market, cuts base salaries of 6 top executives
Marten Transport has cut the salaries of six key executives while keeping their other compensation intact. In a filing with the Securities and Exchange Commission, the truckload carrier said it had reduced the salaries of four executives by 7.5%. The four are Randolph Marten, executive chairman; CEO Timothy Kohl; James Hinnendael, CFO and executive vice…
Running on Ice: Quarterly earnings comes for cold chain
Hello, and welcome to the coolest community in freight! This year’s Future of Freight Festival takes place Nov. 19-21 in Chattanooga, Tennessee. But it’s not your average conference. Sure, there are wonderful speakers and fireside chats. But that’s only half the fun. F3 is set up with half-days of speakers and amazing content. The other…
Canadian rail strike – SONAR datasets to watch
CN and CPKC have locked out employees as of 12:01 a.m. Thursday. The industries to be most heavily impacted are those in bulk commodities. Canada is a major producer of grain, potash and metallurgical coal. In general, those industries have no reasonable method to get their products to market, which largely involves movement to ports…