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Simple: Supply and Demand Freight volumes in 2023 are well below 2021 and 2022 volumes as shown in today’s Freightwaves Sonar Outbound Tender Volume Index. As volumes decline, carriers scramble to load their trucks. Small carriers, competing in the spot market, struggle more than their larger counterparts, who haul most of the contract loads, now look to the spot market to…
The trucking industry has been considering the use of artificial intelligence (AI) to replace human drivers. However, it may be more beneficial to continue employing human drivers instead of solely relying on AI. Humans can handle unexpected situations on the road, such as accidents, construction, and other roadblocks, that AI cannot handle as efficiently. In addition, human drivers possess decision-making…
Double brokering occurs when a freight broker accepts a shipment from a shipper and then assigns the same load to another broker for a lower price, causing financial losses for carriers and shippers. This practice has become increasingly prevalent during the COVID-19 pandemic due to a surge in shipping demand. However, some companies, like Fenichey, are taking steps to ensure…
Is this an attempt to thwart a takeover attempt? LTL giants ABF, TForce and Yellow are all heading into the end of their existing labor contracts. Yellow is probably the most stable since the United States government provided a HUGE PPP investment during Covid. That leaves TForce and ABF to fight alone… or will it be together? Get out the…
Negotiations between the Teamsters union and three major less-than-truckload (LTL) carriers, ABF, Yellow, and TForce, have been closely watched by the transportation industry. The talks have centered on issues such as wages, benefits, and working conditions for unionized drivers and other employees. As of February 2023, the negotiations were ongoing, with both sides expressing some optimism about the prospects for…
The pandemic and vaccine mandates have an effect on commerce unseen until now. Unloaded container ships waiting offshore for their dock time contain not just the Christmas gifts all the kids want, but, as we already know automobile parts are trickling in to US factories. Companies that support these factories are starting to slow down (with eventual layoffs) as the…
Freightwaves is reporting that Hub Group has entered the refrigerated over-the-road transport business with a $130M all cash acquisition of Choptank Transport. This gives Hub a large segment of both Intermodal and OTR refrigerated transport. For more information regarding Fenichey’s ability to help you move your markets, please contact us at info@fenichey.com or give your rep a call today! …
Freightwaves reported on August 12, that July LTL volumes, according to a Cass report, are 15.5% over July 2019 and prices are up 46% year over year* If your company is experiencing LTL delays and higher than expected costs, you are not alone. LTL carriers are experiencing record volumes and prices, as you would expect, are on the rise 7/28…