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The freight recession has officially dragged on longer than the COVID boom, and brokers are feeling the pinch of chronically suppressed margins. While it is tempting to forgo tech upgrades during a downturn in an attempt to save money, this approach will leave brokers at an even greater disadvantage when the market inevitably turns. High-frequency…
By Bart De Muynck The views expressed here are solely those of the author and do not necessarily represent the views of FreightWaves or its affiliates. Those focused on human rights and sustainability have seen Europe play a leading role on these issues in the past few years. But more recently the European Union has put…
Tesla CEO Elon Musk said the company has “paused” plans for its factory in Mexico as the automaker reported a steep year-over-year decline in second-quarter profit on Tuesday. Austin, Texas-based Tesla’s adjusted earnings per share fell 43% year over year to 52 cents in the second quarter, below Wall Street analysts’ estimates of 61 cents…
Ocean freight colossus Mediterranean Shipping Co. said Thursday it has acquired a majority stake in AlisCargo Airlines SpA and plans to take full control of the Milan-based company in early 2024, underscoring the seriousness of its air cargo strategy even as the international freight market languishes in a sustained trough. AlisCargo was founded in 2019…
On Episode 713 of WHAT THE TRUCK?!?, Dooner is talking about a cargo theft ring in California that has shippers on edge. NXTPoint Logistics’ Andrew Lockwood talks about the rise in theft in the Golden State. Covenant’s VP of sustainability, Matt McLelland, joins the desk to co-host. He’s looking at a report released by The…
The U.S. Postal Service will pause some initiatives of its modernization plan for the rest of the year, according to Postmaster General Louis DeJoy. In a letter Monday to Sen. Gary Peters, D-Mich., chairman of the Senate Homeland Security and Governmental Affairs Committee, DeJoy says the Postal Service has paused further implementations in response to…