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Double Brokering is Affecting EVERYONE! 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,…
ArcBest Stock Buyback 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?…
Avoiding Labor Disruptions in Trucking 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…
The Ripple Effect 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…
Hub Group Enters the M&A Arena 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 [email protected] or give…
LTL Volumes and Costs Remain High 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…
M&A in Transportation Continues It seems to have started with TFI’s acquisition of UPS Freight, or Penske’s deal with Black Horse, and now Uber announced today that they’ve agreed to purchase Transplace for $2.25B. This on the heels of Knight Swift’s deal with AAA Cooper and Werner’s acquisition of a couple smaller regional truckload carriers. The covid era brought supply/demand…
One of the dirty little secrets that your freight broker may not reveal is that in negotiating the low prices they offer, many times the brokers give the carriers low liability limits in the event of loss or damage. For example, an LTL carrier’s tariff might say that they will only be responsible for a valuation that corresponds to the…
U.S. House Expected to Pass Bill That Would Impose Huge Insurance Hike on Truckers Washington D.C. – The U.S. House of Representatives will vote next week on a surface reauthorization bill that would impose a huge insurance hike on trucking companies. The five-year $547 billion INVEST in America Act is filled with highly contentious measures which would have deep impacts on the trucking…