A robust, proactive, and responsive security system is essential to reduce cargo theft risks effectively. Leading the charge in these solutions is remote live video monitoring. Learn more here.
In the latest episode of "The Freight Caviar Podcast", we sit down with Danny Frisco, CEO & Co-Founder at Rapido Solutions Group. He discusses the advantages and disadvantages of outsourcing and Rapido's future growth plans.
Plus, an EV maker partners with Ryder to test a hybrid diesel system, HappyRobot releases an AI update for brokers, and load board traffic declines over the past 3 months.
Yellow, who had a 10% share of the LTL market, halted operations on Sunday and is expected to file for Chapter 7 bankruptcy today. This anticipated move is poised to cause a significant shift in the market share of the industry. Among the companies expected to reap the benefits are non-union carriers XPO Logistics, SAIA, and Old Dominion Freight Line, owing to their flexible cost structures and recent gains in market share.
Already in late June, analysts from the Bank of America had projected a potential bankruptcy for Yellow and identified the companies most likely to profit from such a development. Their top picks were XPO, SAIA, and Old Dominion Freight Line. These predictions seem to be aligning with the reality as the Year-to-Date (YTD) share prices of these companies have shown exceptional performance since the release of the report.
The stock price of XPO has seen a surge of 21% (an impressive 121% YTD) while SAIA has grown by 24% (104% YTD). Similarly, Old Dominion's shares have risen by 15%, marking a 54% increase YTD. This exceptional growth could be the first indicator of the positive market effects these companies are likely to experience as a result of Yellow's bankruptcy.
Freight markets show slow recovery signs, but challenges persist. Dive into the latest tonnage, load-to-truck ratios, and order data shaping the trucking industry.
Keep up with the freight broker world in 5 minutes.
Join over 11K+ 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).