FreightWaves SONAR is dedicated to creating a fair and transparent marketplace for all transportation players to manage their businesses effectively and efficiently. In order to build that brighter future, we need to establish clear market signals that all players can agree upon to act fairly and equitably. This builds stronger relationships and boosts service and…
The union representing almost 9,300 workers at Canada’s two biggest rail operators says the railroads are pushing toward a work stoppage after negotiations have deadlocked over issues of working conditions and wage increases. “CN and CPKC aim to eliminate all safety-critical rest provisions from our collective agreements,” François Laporte, national president of Teamsters Canada, said…
Less than a month after taking a billion-dollar stake in railroad Norfolk Southern Corp. (NYSE: NSC) and vowing to oust CEO Alan Shaw, activist group Ancora Holdings Group on Tuesday proposed a new slate of directors at Norfolk Southern, as well as a new CEO, former UPS Inc. executive Jim Barber. Ancora has also proposed…
2023 was a challenging year for ocean carriers, especially those that have spot exposure. They have seen significant slashes to revenue and profitability. Zim Integrated Shipping (NYSE: ZIM), a carrier with more spot exposure than some of the other large ocean carriers, saw a 61% year-over-year reduction in third-quarter revenue, and earnings before interest and…
The top three carrier expenses are fuel, maintenance and insurance – things that are crucial to the success of a trucking company but that have seen a drastic uptick in cost the past few years. A new law in New Jersey stands to dramatically increase the insurance cost for carriers. Joe Schreiner, Reliance Partners’ executive…