By Bart De Muynck The views expressed here are solely those of the author and do not necessarily represent the views of FreightWaves or its affiliates. The bustling ports of Los Angeles and Long Beach, California, gateways to the American consumer market, have become notorious for chronic congestion. But in January 2024, the logjam will reach a new level, threatening to send ripples through the entire U.S. economy. This month’s ITS Logistics U.S. Port/Rail Ramp Freight Index reveals a jump in trans-Pacific volumes amid restocking for Lunar New Year, a major holiday for many East Asian co ..read more

To view more FreightWaves infographics, click here The post Daily Infographic: Union Pacific invests in alternative materials for railroad ties appeared first on FreightWaves. Source: freightwaves - Daily Infographic: Union Pacific invests in alternative materials for railroad ties Editor: Brandon Cafferky ..read more

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googletag.cmd.push(function() { var gptSlot = googletag.defineSlot('/21776187881/FW-Responsive-Main_Content-Slot1', [[728, 90], [468, 60], [300, 100], [320, 50]], 'div-gpt-ad-b1-i-fw-ad-1').defineSizeMapping(gptSizeMaps.banner1).setCollapseEmptyDiv(true).addService(googletag.pubads()); gptAdSlots.push(gptSlot); }); googletag.cmd.push(function() { googletag.display('div-gpt-ad-b1-i-fw-ad-1'); }); Mike Nichols, a truck driver based in Wisconsin, is probably one of the lucky ones. Unlike many of America’s 2.2 million truck drivers, he doesn’t waste hours of his week waiting to be loaded or u ..read more

Ex-Slync CEO Christopher Kirchner was found guilty Thursday of four counts of wire fraud and seven counts of money laundering following a four-day jury trial in the U.S. District Court for the Northern District in Fort Worth, Texas.  Immediately following the verdict, Kirchner, 36, was taken into custody by the U.S. Marshals Service. U.S. District Court Judge Mark T. Pittman denied a motion to reconsider detention until sentencing, which is scheduled for July 11, by Kirchner’s federal public defender, Jason D. Hawkins.  The jury found that Kirchner, who served as Slync’s CEO from ..read more

Forward Air announced Thursday it has completed the acquisition of Omni Logistics. The transaction’s closing ends a bitter legal dispute between the two parties. A news release said the deal, which likely closed at a total purchase price of $2.1 billion, is expected to create a “category leader in the expedited LTL market.” The initial price tag of $3.2 billion and the structure of the deal, which didn’t require a vote from stockholders ahead of closing, drew the ire of some of the company’s investors. Shareholders were also concerned with the debt load Forward would inherit in the transactio ..read more

A former vice president at Polar Air Cargo pleaded guilty last week to participating in a scheme to defraud the company of $52 million for more than a decade. Six of nine individuals charged in the plot have presented guilty pleas so far. Polar Air Cargo is a joint venture between privately held Atlas Air Worldwide and DHL Express. According to aircraft database Planespotters.net, the airline has a fleet of 15 large Boeing cargo jets: six 747-8s, two 767-300s and seven 777s. Carlton Llewellyn, 55, who was in charge of operations systems performance and quality, pleaded guilty last week to one ..read more

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American Airlines (NASDAQ: AAL), unlike its peers, didn’t experience a bump in cargo business during the peak shipping season that ended in mid-December.  Cargo revenue was $199 million during the fourth quarter, a 24.2% decline from the same period in 2022, the Fort Worth, Texas-based carrier said in its earnings report released Thursday.  The sales total was only $6 million more than during the third quarter and $2 million above second-quarter receipts for what is normally the busiest and most profitable period for the air logistics sector as companies rush goods to stores for the ..read more

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