Plus: autonomous trucking just raised $113M, California is fighting to keep 20,000 drivers, Arrive's 2026 truckload freight forecast, and more.
Two bills just dropped in the Senate that could reshape trucking faster than anything since deregulation. Plus: Russian hackers targeted your load board, flatbed rejection rates just hit 40%, and a robot is taking the Houston-Dallas overnight run.
This week: The Dalilah Law, a trucking bankruptcy that wiped out thousands overnight, a FreightGuard civil war on Reddit, and the payroll data that's predicting Q4 capacity.
Plus: Ten Oaks issues statement following USLS closure, a new bill to combat cargo theft is introduced, and year-over-year trucking costs increased by 6.6%.
In today's newsletter:
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🐔 WHAT’S COOKIN’ IN FREIGHT
🗣️ Ten Oaks Speaks Out. Ten Oaks, a private equity firm, has addressed the sudden shutdown of its subsidiary, U.S. Logistics Solutions (USLS), which we reported earlier this week. The company stated that the closure affected 1,200 employees and was due to a third-party lender withdrawing financial support. This financial issue did not involve Ten Oaks directly.
🛡️ New Bill to Combat Cargo Theft. Lawmakers introduced the Safeguarding our Supply Chains Act to address rampant cargo theft by improving coordination between DHS and the FBI. The bill establishes a Supply Chain Crime Coordination Center to analyze theft data and a task force to tackle organized crime targeting the supply chain. With reported cargo theft incidents up nearly 60% in 2023 and 46% in early 2024, this bipartisan effort aims to enhance security across rail, motor carrier, and intermodal systems, supported by $100 million in funding over five years.
🚛 Insurance Premiums Largest Trucking Cost Increase. Operating trucking costs jumped 6.6% in 2023, with insurance premiums seeing the biggest increase of 12.5%. Equipment, wages, and maintenance costs are all on the rise too. Meanwhile, efficiency's stuck in reverse with rising deadhead miles and driver turnover. ATRI's president warns cost management is key in this economy. What's next? We're going to see more industry consolidation.
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On Wednesday, we presented Transport Topics: Top 10 For-Hire Carriers, and now we're looking at its Top 10 Dedicated Carriers and their revenue performance during the freight recession.
While some players like Knight-Swift and Ryder managed to grow their revenues, others experienced significant declines.
Here's the Top 10 Dedicated Carriers list and their change in revenue from 2022 to 2023.
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🌎 AROUND THE FREIGHT WEB
📊 The Jim Cramer of Freight? After we reported that Morgan Stanley is bullish on the freight market on Wednesday, a reader of our newsletter called out Ravi, a Morgan Stanley transportation analyst, for often being wrong.
📈 Lineage Files for IPO. Lineage, the world's largest temperature-controlled REIT, files for an IPO, aiming for a valuation over $30 billion to repay debt and fuel growth.
🤔 Will a Trump Victory Increase Imports? If Trump wins, his proposed tariffs on Chinese imports could lead to an increase in import volumes, explains Craig Fuller.
🚛 Words Mean Different Things to Transportation People. A humorous carousel showing the differences a transportation vs. non-transportation worker sees with words like "van," "reefer," "barn doors," etc.
🚚 Memphis Cargo Thieves Target Nike Truck. Memphis police are investigating a theft where three men stole $2,500 worth of Nike products from a truck stopped at a traffic light near the Nike distribution center on June 24.
FREIGHT MEME OF THE DAY
Also, check out:
Plus: autonomous trucking just raised $113M, California is fighting to keep 20,000 drivers, Arrive's 2026 truckload freight forecast, and more.
Two bills just dropped in the Senate that could reshape trucking faster than anything since deregulation. Plus: Russian hackers targeted your load board, flatbed rejection rates just hit 40%, and a robot is taking the Houston-Dallas overnight run.
This week: The Dalilah Law, a trucking bankruptcy that wiped out thousands overnight, a FreightGuard civil war on Reddit, and the payroll data that's predicting Q4 capacity.
Indiana pulled the trigger on carriers employing illegal CDL holders. Plus: tariff ruling could flood LA with imports, DC finally moves on double brokers, spot rates are outrunning contract, and more.
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