A penny stock wiped $4.8B off C.H. Robinson's market cap yesterday. Plus: self-driving trucks are now running 1,000 miles nonstop, STG Logistics cleared a major bankruptcy hurdle, the FMCSA revoked nine ELDs, and more.
For a long time, secure parking lived in the “nice-to-have” bucket. That framing no longer works. In today’s environment, secure parking functions as a preventative security layer.
Here’s what’s trending across freight and logistics on X, LinkedIn, Reddit, and YouTube.
Plus, Zyn is expanding with a $232 million production plan in Kentucky, NY-NJ ports hit record volume in July, and more.
Happy Wednesday. Today's feature highlights a 49% surge in U.S. cargo thefts in early 2024, new developments at Zyn's Kentucky plant, JAS Worldwide's ransomware attack disrupting operations, and the Port of NY-NJ hitting record container volumes.
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🐔 WHAT’S COOKIN’ IN FREIGHT
🚬 Philip Morris Invests $232M in Kentucky for ZYN Expansion. Philip Morris International (PMI) is expanding its Kentucky factory with a $232 million investment to increase production of ZYN nicotine pouches, creating 450 new jobs. The expansion, set for completion by mid-2025, aligns with PMI's strategy to shift from traditional cigarettes to smoke-free alternatives. While ZYN offers a tobacco-free nicotine option, the long-term health effects remain uncertain. The move could provide new opportunities within the freight industry in the Kentucky area and abroad if new lanes are opened within this “smoke-free” industry. PMI also has Colorado on its horizon, hoping to soon open shop in Aurora.
🚛 The Conservative Vision for U.S. Transport. The potential Trump administration is advocating for the acceleration of autonomous vehicle (AV) adoption while slowing the shift to electric vehicles (EVs). His vision proposes revisiting AV regulations to favor driverless commercial vehicles and resetting standards for internal combustion engine (ICE) vehicles, pushing back against Biden’s aggressive EV targets. With the election swiftly approaching, the focus on going green vs. the continuation of traditional energy sources is heating up during this highly contested election season, with the future of U.S. transportation and logistics hanging in the balance.
📈 Private Fleets Surge as Shippers Seek Stability. Private fleets are on the rise, with a 7.5% year-over-year increase in private fleet usage as shippers and manufacturers seek reliable capacity and cost stability amid volatile freight markets. Large companies like Walmart and PepsiCo are leading the trend within their industries, maintaining significant in-house fleets to ensure control over logistics. A survey conducted by NPTC showed that 72% of companies with private fleets plan to expand in the next five years, driven by lower turnover rates and the desire to avoid the high costs and unpredictability of for-hire fleets.
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*Isometric Technologies' (ISO) Service Index helps brokers scorecard, benchmark, and source by service level performance across their customer and carrier network. ISO Scores are a composite of OTD, OTP, and Bounce Rates.
Overhaul's latest report on cargo theft in the United States and Canada for the first half of 2024 reveals significant trends and evolving patterns in criminal activity.
It's important to note that this report represents an indirect snapshot of the cargo theft landscape, not a complete picture. Overhaul compiles data only from reliable sources such as transportation security councils, insurance companies, and law enforcement organizations. In other words, the scope of the problem is assumed to be much larger than what the report covers.
The first half of 2024 saw a concerning uptick in cargo theft incidents across the United States. Here are the key figures:
Thieves show clear preferences for certain types of cargo:
Theft strategies are evolving, with some methods gaining prominence:
Thefts most commonly occur at:
The report highlights Southern California as a critical hotspot for cargo theft:
While less extensive than U.S. data, Canadian cargo theft shows distinct patterns:
The report underscores several critical points:
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🌎 AROUND THE FREIGHT WEB
🔒 JAS Worldwide Hit by Ransomware Attack. JAS Worldwide is facing a ransomware attack causing disruptions, and their team is working with cybersecurity experts to restore systems.
📈 NY-NJ Ports Hit Record Volume. The Port of New York-New Jersey had its busiest July ever, handling over 800,000 TEUs due to early imports for back-to-school and holiday inventory.
🎧 Freight Interview Tips. Brent Orsuga and Charlie Saffro joined The Freight Pod to discuss hiring and recruitment strategies in the logistics industry.
📉 Trucking Credit Worsens at BMO. BMO's Q3 report shows record-high trucking loan impairments and allowances, indicating worsening credit conditions in the trucking sector.
🚚 Knight-Swift Expands LTL Network. Knight-Swift Transportation plans to open 38 new LTL service centers in 2024, adding over 1,000 doors to its network through both organic growth and acquisitions.
🎣 THE FREIGHT CAVIAR CORNER
Over the past 2.5 weeks, we recorded 11 episodes for our podcast. Take a look at all the guests we interviewed in this LinkedIn post below:
Paul-Bernard Jaroslawski
FREIGHT MEME OF THE DAY
A penny stock wiped $4.8B off C.H. Robinson's market cap yesterday. Plus: self-driving trucks are now running 1,000 miles nonstop, STG Logistics cleared a major bankruptcy hurdle, the FMCSA revoked nine ELDs, and more.
Here’s what’s trending across freight and logistics on X, LinkedIn, Reddit, and YouTube.
In just three years, we have moved from an industry that relied heavily on manual phone calls and emails to one where many of us use AI to some extent to support the above.
Plus, XPO and Hub Group Q4 2025 earnings, a trucking private-equity firm files bankruptcy, Mexico long-haul truckers win union rights, and more.
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