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On-Highway diesel Fuel prices are nearly double what they were just two years ago. What changed? Freightwaves reported today: In 2019, the last full pre-pandemic year, [sic] West Texas Intermediate [crude] (WTI) averaged $18.63 a barrel, based on data from the daily settlements of the CME Group Inc. commodity exchange. It regularly dipped below $10 a barrel during 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…
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 issues causing rates to…
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…
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 industry. Perhaps none more so than a provision which would increase the minimum amount of…
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
Rates surge, no ‘significant rate relief’ in 2021, Cass says
COVID-19, the Coronavirus, is presenting some challenges in the LTL world that shippers need to be aware of.
Transport Topics is reporting today that the FMCSA has offered Hours of Service Rules relief to driver’s transporting medical supplies, food and fuel to areas affected by the COVID-19 outbreak.
