Inside: FedEx's market triumph, the controversy at Yellow Corp, Waabi and Uber Freight's decade deal, and the hammer comes down on PPP loan-scamming trucker.
As 2023 seasonal hiring gets underway, some retailers are cutting back on workers while others are hiring more.
Analysis of TuSimple's challenges in the autonomous trucking industry and FedEx's impressive financial performance surpassing expectations.
Signs point to the trucking industry nearing the end of the current freight recession, with trucking revenue still high despite reduced demand. A market turnaround, however, is yet to be seen.
Although the trucking industry is facing a freight market recession, there are indicators that suggest it may be nearing the bottom of the downturn. Seasonally adjusted trucking ton-mile index, which implies freight demand, shows a minor rise of 0.6% from March to April 2023, yet is down 1.6% compared to April 2022. Despite this, trucking revenue remains elevated compared to pre-pandemic levels, suggesting that capacity isn't exiting as rapidly as expected. The near future likely sees the industry remaining in this trough without a significant shock event to stimulate demand.
Source: Jason Miller
Key trends in freight and shipping market of June 2023, with insights into spot market, carrier capacity, LTL sector and cross-border shipping.
Molson Coors, recognized as 2023's Shipper of Choice, excels in supply chain management, shipping 13M barrels of beverages annually.
Tornado damages Pfizer plant in North Carolina, affecting 50,000 pallets of medication and potentially impacting nationwide supply.
The US labor market is showing signs of stabilization as the rate of voluntary job quitting approaches pre-pandemic levels and employers implement better retention strategies.
Subscribe to our free tri-weekly newsletter for the latest in freight news and entertainment.
