Business

Outbound tender rejections continue to climb through Thanksgiving

Outbound tender volumes (OTVI.USA) fell by 11.89% week-over-week. Much of this drop can be attributed to the timing of Thanksgiving. Last year Thanksgiving fell on November 22, which has skewed year-over-year comparables for the past two weeks.  Nationally, outbound tender volumes fell 4.73% year-over-year this week. Month-over-month volumes were down 12.34%, as the Thanksgiving holiday …

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Knight-Swift opens tech brokerage office in Phoenix’s East Valley

Knight-Swift Transportation (NYSE: KNX ) celebrated the opening of its Knight-Swift East Valley Logistics and Technology Center on Nov. 22. About 100 people from the company, including Knight-Swift leadership, attended the event, and officials said that employees were excited about the growth that the building symbolized. The office houses a freight brokerage operation staffed by …

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Freight Brokers: Where are we in the freight cycle?

The relationship between gross revenue and gross margins for freight brokerages is inversely related across much of the freight cycle. As spot market rates rise faster than paper (contract) rates, margins compress on higher load volumes. The opposite is also true: As spot rates fall faster than paper rates are rebid down, gross margins expand …

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Chris Easter is taking Daseke on a transformational journey

For many years, flatbed and specialized carriers looking to sell hoped that Daseke (NASDAQ: DSKE ) would come calling. The Addison, Texas-based company grew quickly from its founding in 2009 by Don Daseke. Over a 10-year period, Daseke grew from $30 million in revenue to $1.6 billion by 2018, mostly through acquisitions. Daseke is now …

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Glut of used trucks creates buyer’s market

The number of used Class 8 trucks for sale continues to grow as new equipment deliveries drain the backlog created during a 2018 order binge. Manufacturers trying to resell their used trucks coming off leases are using incentives to move them even as prices fall with a rising supply. Deferred payments Daimler Trucks North America, …

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Kuehne + Nagel acquires overland logistics operations of Dutch-based Rotra

Freight forwarding major Kuehne + Nagel (K+N) has announced that it will acquire the overland and logistics activities of Dutch-based Rotra , a company with roughly 800 employees and annual revenue of over €100 million. K+N expects to leverage Rotra’s network to expand its footprint across road networks in all major markets within Europe.  “Rotra …

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Pilot Flying J launches fuel network targeting small carriers

Pilot Flying J is targeting small trucking fleets with a new fueling network aligned with brands like Marathon Oil’s Speedway commercial fueling locations. “The truck stop industry as a whole has focused on larger and midsized companies,” Pilot Flying J CEO Jimmy Haslam said on a conference call Tuesday, Nov. 19. “We feel like the …

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Tata Steel to fire 3,000 workers in Europe citing slowdown and weak market demand

Tata Steel, the Indian steel manufacturer, has announced that it will be slashing 3,000 jobs across its operations in Europe , citing a global consumption slowdown and the uncertainty surrounding the U.K. general elections and Brexit that is scheduled to follow right after. “Stagnant EU [European Union] steel demand and global overcapacity have been compounded …

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Meet David Faulkenberry, FreightWaves’ Final Mile Man

David Faulkenberry recently joined FreightWaves as Market Expert for Final Mile. He formerly led strategic planning, operations, quality and business system development teams at XPO Logistics, Inc., 3PD, Inc., HomeDirect, Inc., GeoLogistics and Bekins Van Lines. Faulkenberry agreed to sit down with FreightWaves to discuss the state of the industry: Q: How do you define …

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Strike on Tuesday looms for Canadian National after Teamsters sends notice to company

Talks are ongoing but there is now a strike notice overhanging Canadian National and its 3,200 Teamsters members. Both the company and the union announced late Saturday that the Teamsters had served a strike notice to CN. The  strike would occur just after the stroke of midnight on Tuesday, November 19.  In its prepared statement, …

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