Surface

Not all industry analysts believe a surge in demand is necessary for US truckload rates to rise in 2024, but some say capacity levels remain too high for a big move upward.

An attempt to buy and revive some version of Yellow was called “not viable” after a terminal auction raised $1.9 billion from 22 bidders.

Motor carrier TCW was unable to prove that street turn fees violate US shipping law in one of the first test cases to see how the Federal Maritime Commission might regulate those charges.

While the domestic intermodal market may have been in turmoil for the last several years, all stakeholders look ready to support continued growth, writes Ted Prince.

Suspending the auction of its remaining leased properties may give defunct LTL provider Yellow time to work out difficulties with landlords over the leases of potentially valuable properties.

The second-largest US LTL provider saw daily shipments increase less than 1% year over year in November, signaling continued softness in underlying LTL demand as the post-Yellow market settles.

The Blue Ridge Connector will have 18,000 feet of working track and an annual lift capacity of up to 200,000 containers while providing shippers with an all-rail service from Savannah.

XPO, Estes, Saia and R+L collectively put up more than 80% of the $1.9 billion bid for terminals of bankrupt LTL provider Yellow, while more sites, including some major facilities, have yet to be auctioned. 

The South Coast Air Quality Management District says it will create rules to reduce emissions at Southern California rail yards because Union Pacific insists on including public financing as a precondition for participating in the more collaborative MOU process.

The company, which caters to shippers like Uniqlo and Michelin, will use the new round of funding to spur a global expansion of its multimodal freight visibility product.

As US port volumes remain lackluster, there is not as much freight to move on trucks, causing the market to stay relatively stagnant ahead of what typically is the busy holiday season.

The expansion of the three companies, all representing different modes across the US-Canadian border, underscores the depth of the relationship between the two economies.

The Class I railroad sees an opportunity to tap growth at the Gulf Coast’s busiest port with new intermodal lanes, while expanding its inland reach from Los Angeles and Long Beach.

An auction of Yellow’s 174 owned terminals is scheduled for Tuesday, with winning bids to be disclosed on Friday while a separate battle continues over 149 leased terminals.

The project, in coordination with the Vancouver Fraser Port Authority, is due to be completed in late 2024 and will help move cargo faster through Western Canada.

With peak season at hand for ag exports, shippers say weak US import volumes have constrained the supply of repositioned containers they need to send goods overseas, risking disruption to their supply chains.

The CO2 charge on commercial vehicles is aimed at incentivizing the use of green fuels and lower-emissions trucks, but it will come at a significant cost to the road haulage industry.

The four-phase, seven-building project with CSX rail connections will support the growing needs of importers and exporters using the port.

Draft legislation would also seek to codify that rail demurrage fees be billed to the ocean carrier, which would then pass along the charge to the responsible shipper or BCO. .

While the moves are considered more of a rejuvenation than a renaissance, railroads are doing a more effective job juggling the interests of investors while providing new products to serve shippers.

With its systems restored, the LTL carrier plans to “lean into” technology development and investment for greater security and visibility.

Large LTL trucking providers are raising tariff rates 5% to 8% on average, but the LTL PPI slowed its growth to under 1% in October.

Although small trucking firms are folding, there is still a large supply of carriers and trucks keeping a lid on pricing amid soft demand. 

Shippers saved nearly 26% using domestic intermodal instead of highway options in the third quarter, approximately in line with long-term averages.

The largest US domestic intermodal provider will no longer partner with CPKC on cross-border loads destined for the Midwest and West Coast, in the latest shifting of alliances on new services between Mexico and the US.

The expedited less-than-truckload provider has asked a Delaware court to let it kill the controversial deal that has caused its share price to plummet and raised the ire of activist investors.

The need for greater supply chain stability, not just control over on-time service, is driving growth in the number of private fleets run by shippers even in a time of cheap truck rates.

The intermodal routing option from Canada to the Midwest began to fall out of favor beginning in 2021 and accelerated in late 2022 when ISO containers moving in the lane fell below levels last seen six years ago.

Jack Cooper Transport wants to outbid other truckers for the assets of the bankrupt less-than-truckload provider, but it’s not clear how the bid would work.

The new north-south service will begin next week with trial runs transporting perishable goods out of Latin America to Chicago.

The cracks in the gateway’s attractiveness to importers and exporters out of the US Midwest were showing before this July’s work stoppage and the decline in import demand across North America.

An uptick in the West Coast share of Asian imports has already translated into heightened demand for surface transportation.

The premium service run by the long-time partners aims to capture so-called just-in-time cargo that has historically been shipped via truck.

Once fully complete by 2025, the current expansion project would allow the port to handle 1.1 million TEUs annually, up from 650,000 TEUs.

The largest US freight broker expects more companies to follow Convoy and exit the market as demand remains weak and rates stay low. 

Freight forwarder Omni isn’t giving up on a merger with Forward and is moving to force completion of the deal despite Forward’s cold feet. 

It is unlikely that supply and demand for dry van trucking will reach an equilibrium before the second quarter of 2024, and that is likely an optimistic date, writes analyst Jason Miller.

With hundreds of terminals on the market, LTL trucking companies are setting their sights on Yellow’s sites and other properties as they expand and optimize networks to handle more freight.

The new pool will generate options for truckers and cargo owners moving ocean containers through the major inland market.

Hub Group said its intermodal business trailed competitors in the third quarter despite a mini-peak that developed in Southern California in September.