Trucking

At the mid-point of 2024, for the week of June 23 through June 29, the last week before the end of the second quarter and in advance of the July 4 holiday, a tightening of spot truckload capacity translated into an 8.4% gain in load posts for the DAT One load board marketplace, according to data provided to LM by DAT Freight & Analytics.  

Like a year ago at this time, truckload market conditions continue to favor shippers. As this year’s panel explains, many elements still need to fall into place in order for carriers to even things out.

For April, the most recent month for which data is available, the SCI came in at 3.0, following March’s -1.2 reading and February’s -1.4 reading, with the latter representing first negative reading following several months of growth, going back to September 2022. The January SCI came in at 3.4, which was 3% below December’s 6.4 reading and also below November’s 6.3.

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. 

Walmart Canada has introduced its first hydrogen fuel cell electric semi-truck, marking a significant step towards its goal of a 100% alternatively-powered fleet.

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

The ATA’s advanced Seasonally Adjusted (SA) For-Hire Truck Tonnage Index headed up 3.6% in May, following a 1% (downwardly revised from 1.2%) decrease in April, coming in at 115.9 (2015=100). May’s SA tonnage reading saw a 1.5% annual increase, after April’s 1.3% annual decrease, for its first annual gain in 15 months.

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.

Uber Freight and Aurora Innovation have launched Premier Autonomy, a program providing over one billion driverless miles to Uber Freight carriers through 2030.

Providing training in small doses at the time it is needed provides the ability to focus on the most timely information.

Atlanta-based global freight transportation and logistics services provider UPS said today it had formally entered into an agreement to sell its Chicago-based truckload brokerage business unit, Coyote, to Charlotte, N.C.-based full truckload brokerage RXO Logistics, for $1.025 billion.

For April, the most recent month for which data is available, the TCI reading came in at -1.95, a marked improvement over March’s -7.25, which was its lowest reading going back to September 2023. The February TCI reading was -5.31.

Trucker Path has ranked the top U.S. trucking corridors, highlighting I-90, I-5, and I-44 as the most driver-friendly.

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.