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East Coast Highway Closure A tanker fire and subsequent roadway collapse on I-95 in Philadelphia on Sunday morning has had a significant impact on freight shipping on the east coast. The closure of a major artery has caused major delays for trucks carrying goods to and from major cities in the region. Truckers said that the closure has added hours…
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…
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…
General Average Declared for Ever Given Suez Disruption
LTL giant UPS Freight is in the cross hairs of Canadian firm TFI. The offer appears to be an $800M all cash offer from TFI who will rename the company TForce Freight. Click Here for full the TFI Press Release
Looks like the YRC name is going to fade away as YELLOW has been resurrected! With that, Yellow is hiring 1500 drivers and expanding their in house driver training program. This is decidedly good news in an industry with diminishing capacity