The first quarter of 2024 has been rough sailing for major U.S. carriers, and here's a breakdown of the latest reports: Startling Figures: Heartland Express: Posts a $15 million operating loss. Covenant Logistics: Profit slumps 76%. Old Dominion: Reports lower-than-expected revenue. Hub Group: Revenue falls 13% year over year. Heartland Hits a Roadblock Heartland Express faced a tough Q1, wrestling with weak demand and rising costs. "We've seen extended periods of weak freight demand... and ongoing operating cost inflation," CEO Mike Gerdin stated. Despite a 105.3% operating ratio (the goa ..read more

The road to electric and zero-emission trucks isn't without its bumps. Here's what's unfolding: Tesla Delays Semi Production: Original Promise: Tesla planned to start its Semi production in 2019. New Timeline: Production now set for late 2025, with deliveries beginning in early 2026. Why It Matters: The delay impacts carriers eager for more sustainable options, like PepsiCo, which has only a few models in use. Lion Electric Faces Setbacks: Lion's Class 8 Electric Truck. Image Source: Lion Electric Job Cuts: 120 workers laid off, primarily due to delays in government funding. Financial Str ..read more

Earlier this week, a groundbreaking announcement shook the freight and logistics industry. The Federal Trade Commission (FTC) has banned non-compete clauses, dramatically altering the landscape for countless professionals across all industries. But what happens next? Key Stats and Info: Over 26,000 public comments influenced the FTC's decision. All industries are impacted, with non-competes wiped out for most except some high-earning executives. Companies have 120 days post-publication in the Federal Register to comply. The U.S. Chamber of Commerce is gearing up to challenge the rule, predic ..read more

We recently published a special episode about FreightCaviar and ShipperCRM featuring Co-CEOs and Co-Founders Paul-Bernard Jaroslawski and Krystian Gebis. We discuss the evolution and development of both companies, as well as the importance of mentors and leveraging an online audience. Paul’s Career Transition 2017: Assigned by Everest Transportation Systems to open a freight brokerage in Kyiv, Ukraine. 2020: Left the industry due to burnout. The day he quit, he launched an Instagram meme account focused on freight brokerage with a goal of 10,000 followers in ten months. Later Developments ..read more

Good Wednesday morning. Huge news hit the freight brokerage industry yesterday after the Federal Trade Commission (FTC) banned non-competes. Read our deep dive to learn about its potential impacts on our industry in today's main story. ? Question of the Day: What percentage of lanes are unprofitable according to recent data from SmartHop? Scroll to our What's Cookin' in Freight section to find out. Today's Newsletter is Brought to You by Dynamic Logistix ..read more

April's trucking market is holding its course. Here's the scoop from Arrive Logistics' April 2024 update: Van and Reefer Rates: Van and reefer rates take a tumble, hitting new cycle lows. Decked Out: Open deck rates are bucking the trend and climbing up, thanks to a boost in demand. What's the Market Saying? Van Stability: Van rejections are flatlining. Reefer Rhythms: Reefers are at about 5% rejection, calm but keeping an eye out for changes. Carrier Resilience: Fewer revocations, more newcomers. Deep Dive into Demand: March was mellow. Spot load postings ticked up by 12.3% month-over-m ..read more

A post from Supply Chain Professor Jason Miller analyzes some key data to determine the true depth of the current freight recession and how it stacks up against the past. Here's what he found: Historic Depth: We're looking at the deepest freight recession separate from a broad economic downturn to date. Steep Decline: As of January 2023, the drop-off was twice as deep as the last major dip in 2018-2019. Current Status: By February 2024, we're down about 4% from March 2022 peak. Payroll Patterns: The current cycle saw a smaller payroll dip (around 30,000 jobs) versus past recessions like in ..read more

The latest SmartHop Profitability Report for Q1 2024 is out, shedding light on recent shifts in freight and profitability. Profitable Moves SmartHop takes a look at inbound and outbound freight across thousands of lanes. Here's a breakdown of what's been happening on the roads. Source: SmartHop Looking at the pie chart for the entire Q1, 61.79% of the lanes fall under the not-so-great category of unprofitable lane to unprofitable market. Only a slim 2.00% of the lanes were profitable to profitable markets. Lanes leading from a profitable to a neutral market made up 4.81%, which isn't huge but ..read more

Economics is often viewed through the lens of predictions and projections, but sometimes those forecasts miss the mark. Despite looming signs, the anticipated economic recession hasn't yet materialized, leaving many puzzled and seeking answers. In a recent episode of the Stay In Your Lane Podcast from Triple T Transport, Allianz Trade North America Chief Economist Dan North shed light on the current situation and its implications on the freight market. Here are a few key points highlighted in the episode: Signs of a Slowdown: In recent times, significant shocks have hinted at an impending ec ..read more

Happy Earth Day. We hope you're thinking green even though a bunch of trucking stocks are seeing red. Today's feature takes a look at cooling stock prices as Q1 earnings reports from major carriers have sparked concerns. ? Question of the Day: Which of these four publicly traded mega carriers has had the worst-performing share price in the last 30 days? Scroll to our main story to find out. A. ArcBest B. Forward Air C. Knight-Swift D. J.B. Hunt Today's Newsletter is Brought to You by CtrlChain ..read more