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Heartland Express, Covenant Logistics, and Knight-Swift Q2 earnings show mixed results, debt reduction, and market stabilization signs.
Transport industry observes quiet exit of Twin Express, a closure that flies under the radar of major news outlets.
The transportation industry witnessed the quiet departure of Twin Express from Rogers, MN. While major fleet closures often dominate headlines, many companies like Twin Express go under the radar, leaving the community in suspense and stirring speculations on social media platforms. Our post on the FreightCaviar Instagram page was met with comments of surprise and disappointment from former partners.
Twin Express's closure is hinted by the disappearance of its online presence and, more explicitly, by Google’s "Permanently Closed" banner.
Twin Express - Over 150 tractors, now out of operation.
Online Indicators - The company's website is inaccessible, and Google lists them as "Permanently Closed."
We saw this as an ad on FreightWaves and realized that Twin Express, based out of Rogers, MN, has gone out of business. The ad mentions 150+ tractors. Although we often hear about large fleets closing in the news, many such fleets close without even making the headlines. pic.twitter.com/nqEmaDoEPs
— Man, I Love Freight 🚛 (@freightcaviar) October 17, 2023
A truck carrying flammable chemicals crashed and exploded on Route 3 in Clifton, NJ, killing the driver and forcing evacuations.
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.
We are currently getting insider information from a freight broker who is dealing with this situation.
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