Plus, cargo theft risks spikes ahead of Memorial Day, April sees drop in freight, a Wisconsin carrier and brokerage file for bankruptcy, and more.
ATA and ACT Research report declines in U.S. truck tonnage and trailer orders in April, as economic uncertainty and tariff pressures stall recovery across freight and equipment markets.
Trucking firm Elite Carriers and brokerage affiliate ECI Inc. have filed for Chapter 11 bankruptcy, joining three other entities owned by Kirk Ecklund in seeking protection.
Convoy Inc explores strategic decisions amid a challenging trucking market, as experts suggest potential mergers or sales.
Seattle-based digital freight brokerage, Convoy Inc., facing challenges from a downturn in the U.S. truckload market and amid dwindling valuations, has hired Goldman Sachs to explore potential strategic decisions that might include a sale, merger, or significant investment. As the trucking sector witnesses declining volumes and rates, leading logistics platforms like Convoy and Uber Freight are struggling to meet growth and revenue targets, prompting industry observers to speculate on possible acquisitions.
Source: FreightWaves & Brittain Ladd
What sells for more?
— Dooner 🏴☠️ (@TimothyDooner) August 24, 2023
U.S. carriers say foreign B-1 visa truck drivers are illegally hauling domestic loads, undercutting rates and pushing small operators out of business.
A Connecticut man faces 13 counts of wire fraud for defrauding Amazon Logistics of over $3 million using fake trucking companies.
Fraudulent CDL schemes in Washington and Massachusetts reveal unqualified drivers passed with bribes.
U.S. trucking firms, including Balkan Express, file Chapter 11 amid market strain; FreightWaves tracks 2025 closures.
Join over 12K+ subscribers to get the latest freight news and entertainment directly in your inbox for free. Subscribe & be sure to check your inbox to confirm (and your spam folder just in case).
