"We're basically in the center of the United States. As middle as you can get. Every class one railroad comes through Kansas City. It makes it very unique."
Freight fraud is a multi-billion-dollar problem, and the old verification model is broken. Here’s the new standard every broker needs to build toward in 2026.
S&P is cautiously optimistic about the freight recovery, but it still kept RXO's rating below investment grade. Plus: the Strait is set to reopen, Volvo pulls the safety driver, the U.S. goes after cheap trailers, and more.
Knight-Swift boosts assets with the $808m acquisition of U.S. Xpress, poised to reshape the logistics industry landscape and market dynamics.
The Knight-Swift's acquisition of U.S. Xpress has officially closed, marking the end of the latter's five-year stint as a publicly-traded company. The $808 million deal, which was effectively sealed as U.S. Xpress delisted its stock from the NYSE, is set to significantly boost Knight-Swift's assets, adding approximately $2.2 billion in revenue and around 7,200 tractors and 14,400 trailers. The truckload carrier Knight-Swift now anticipates an annual run rate close to $10 billion post-acquisition.
However, despite the strategic fit and expected bolstering of Knight-Swift's capacity and revenue, the market reaction has been subdued, with the company's stock price showing a marginal decline since the announcement of the deal. This consolidation could influence industry dynamics, potentially triggering similar mergers or acquisitions as competitors adjust to the new landscape.
Source: Freight Waves
Throughout my whole life, my father was involved in trucking, first working for his father and then bootstrapping his own trucking company to become one of the largest.
— Craig Fuller 🛩🚛🚂⚓️ (@FreightAlley) July 3, 2023
Those days are officially over. It was a great run. https://t.co/aLGDWmbD60
Plus, STG's path out of bankruptcy, Wyoming's "Truck Around and Find Out" operation, what "phantom capacity" means for Mexico lanes, and more in today's newsletter.
Plus, a cabless autonomous truck just raised $24M, non-domiciled CDLs rules need clarifying, CSX posts a 26% profit jump while watching the UP-NS merger closely, and more in today's newsletter.
Plus, the offshore dispatchers your safety score can't catch, why Hormuz stays closed even after the war ends, what Triumph Financial's invoice volumes say about where freight is headed, and more.
Plus, USPS gives non-domiciled CDL carriers an 11-day deadline, the spot-to-contract spread starts squeezing 3PLs, Knight-Swift trims its Q1 guide but stays bullish, and more.
Join over 14K+ 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).
