Less-than-Truckload

LM Group News Editor interviewed Jay Silberkleit, CIO, for Greenwich, Conn.-based national less-than-truckload (LTL) services provider XPO, in a leadership session at the SMC3 Connections conference in Colorado Springs, Co. this week. Silberkleit provided an overview of how XPO approaches and views the role of technology within LTL operations, including things like using AI, data analytics, and vetting emerging new techologies, among others. 

The revisions, set to begin in January, will impact carriers, shippers and third-party logistics providers.

FedEx reported fiscal fourth-quarter earnings per share of $5.41 from sales of $22.1 billion. That was ahead of Wall Street’s estimates for EPS of $5.34 and sales of $22 billion. While those results were solid, FedEx then added a trucking-industry megaton explosion in its news release. That’s when it disclosed it was “conducting an assessment of the role of FedEx Freight in the company’s portfolio structure and potential steps to further unlock sustainable shareholder value.”

The 2024 Less-than-Truckload (LTL) survey explores how shippers collaborate with LTL carriers to secure necessary capacity while addressing new challenges, with insights into contract rate trends, e-commerce impacts, management strategies, spot contract usage, shipment volumes, and respondent demographics.

Company officials said that this new facility is strategically positioned to efficiently service the most significant and demanding consumer population in the U.S., adding that Pyle also has plans to expand the campus to further accommodate growth in New York City. 

ODFL reported that revenue-per-day headed up 5.6% annually, paced by a 1.5% gain in daily LTL tonnage, as well as an increase in LTL revenue per hundredweight. And it added that the change in daily LTL tonnage was due to a 2.3% gain in LTL shipments per day, which was partially offset by a 0.7% decrease in LTL weight per shipment.

Yellow, which ceased operations last Aug. 7, is asking to place its remaining terminals and other vacant properties into a real estate investment trust (REIT) that could be used to raise money for creditors.

Discover the future of LTL shipping efficiency. Embrace EDI/API integration for enhanced logistics performance with SMC3.

Taking steps to leverage Artificial Intelligence (AI) in order to automate various types of shipping transactions conducted over e-mail, Minneapolis, Minn.-based global third-party logistics (3PL) services provider and freight forwarder C.H. Robinson (CHR) today heralded the progress it has made on that front, calling the utilization a key step in breaking “a long-standing barrier to automation.

During this podcast, Nightingale provided a detailed overview of the new Cowen/AFS Freight Index report and variuous market issues.

The new edition of the TD Cowen/AFS Freight Index, which was recently released by New York-based investment firm TD Cowen Inc. and Shreveport, La.-based 3PL and freight audit and payment company AFS Logistics LLC, was somewhat mixed, with less-than-truckload (LTL) and truckload rates steady, and parcel rates being impacted by fuel surcharge increases and various accessorial charges amid lower demand.

The International Brotherhood of Teamsters has won what the union calls “a major victory” in a breach of contract lawsuit against Yellow Corp. Unfortunately for about 24,000 Teamsters who lost their jobs when Yellow ceased operations last August, the victory arrives about nine months too late.

As key parts of this expansion, the company said that it has set up new locations in Mexico City, Monterrey, and Laredo, Texas, and also tapped 30-year logistics veteran Troy Ryley as President, Echo Mexico.

The liquidation of Yellow Corp., once the largest less-than-truckload (LTL) and the nation’s 13th-largest trucking company when it ceased operations last August, has continued to prove that Yellow’s assets were valuable even without operating as a functioning trucking company.  

ODFL reported that revenue per day rose 1.2% annually, driven by an increased in LTL revenue per hundredweight, which was slightly offset by a 3.0% decrease in LTL tons per day. The company added that the change in daily LTL tons was attributed to a 3.2% decrease in LTL weight per shipment that was partially offset by a 0.2% increase in LTL shipments per day.