Plus, a Chicago-based freight broker boasts about making $215k in one day, Lineage Logistics hits it big with an $18 billion IPO, the latest on the Ocean's 11-style freight heist, and more.
We took the opportunity to ask our Instagram followers about their best days as freight brokers. Here are some of their responses...
Heartland Express, Covenant Logistics, and Knight-Swift Q2 earnings show mixed results, debt reduction, and market stabilization signs.
FedEx Freight is closing 29 locations to streamline its operations, significantly impacting Arkansas and surrounding states.
FedEx Freight is set to close 29 locations, seven of which are in Arkansas, as part of an effort to consolidate its operations and adapt to changing market dynamics. The remaining centers will take over the operations of the closed facilities, potentially affecting pickup and delivery times for customers. Despite the closures, FedEx Freight, which currently operates around 400 service centers, will still maintain a significant footprint in the logistics industry.
Source: FreightWaves
FedEx is downsizing its fleet again during the next 12 months to match weak international and domestic package shipping demand, and save money.https://t.co/7a0OhNi4wf
— FreightWaves (@FreightWaves) June 22, 2023
Q2 sees slower rate of trucking business exits, but market remains challenging. Here are the latest industry data and expert insights.
Driver wages remain the largest expense. Safety bonuses ($1,831 average) surpassed starting bonuses for the first time.
Morgan Stanley's latest TLQURE model forecasts significant increases in truckload spot rates over the next year. What does this mean for the industry?
Southeastern carriers are rejecting loads at the highest rate since July 2022, breaking a two-year trend of low volatility and loose capacity.
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