VC-backed CloudTrucks blames ‘tough freight market’ for layoffs

Like many FreightTech companies that have laid off workers in recent months, CloudTrucks blames the declining freight market for the job cuts. “In this tough freight market, we must focus on operating efficiently so we can best serve our customers and maintain competitive rates,” Tobenna Arodiogbu, co-founder and CEO of San Francisco-based CloudTrucks, said in…

US import demand positioned to find a new bottom in 2023

Exactly one year ago, SONAR’s ocean container bookings data revealed that U.S. import demand for containerized goods was dropping off a cliff, and while that same bookings data is still trending right alongside 2019 levels (as we forecast), the weakening global macroeconomic backdrop is continuing to add further downside risks to volumes. With U.S. importers…

Infamous train robbery solved after a shocking mistake

FreightWaves Classics is sponsored by Old Dominion Freight Line — Helping the World Keep Promises. Learn more here. One of the most infamous railroad crimes in history was the Great Train Robbery, which took place near Bridego Bridge north of London in 1963. In this true-crime episode of Tracks Through Time, Deputy Editor Brielle Jaekel is…