LTL

The select group of trucking companies with more than a billion dollars in annual revenue shrank last year, as four companies fell below the revenue threshold.

The two largest trucking businesses increased their market share last year despite falling revenue, holding onto business better than many of their smaller competitors.

Con-way Freight and TNT are expanding their trans-Atlantic partnership to include shipping U.S. exports to Europe, targeting freight shipments weighing more than 150 pounds.

The less-than-truckload sector is yielding to the demands of yield, carrier executives insist, turning from price-cutting aimed at rapidly gaining market share to rebuilding profit.

Truck tonnage increased 2.6 percent last month, compared with February 2009, according to the American Trucking Associations’ advance seasonally adjusted index.

The value of YRC Worldwide’s stock climbed nearly 20 percent yesterday, rising from 45.5 cents to 56 cents a share on the Nasdaq stock exchange.

YRC is simplifying pricing for expedited less-than-truckload freight as it tries to entice new customers and win back freight transferred to other LTL carriers.

Logistics provider Geodis said it is in talks to acquire the northern and southern European divisions of Giraud, the European road transport company, and hopes to win regulatory approval for the deal

An increase in trucking company advertising underscores how quickly demand for truck drivers is growing, says a transportation advertising executive.

FedEx Freight’s losses nearly doubled in the quarter ending Feb. 28, despite a surge in revenue and shipments in the three-month period.

YRC Worldwide’s regional group of carriers reduced its losses 14.2 percent to $126.7 million in 2009 but saw its operating ratio rise 2.1 percentage points as revenue dropped.

As the Teamsters mull concession talks with ABF Freight System, YRC Worldwide is still trying to get some members to accept concessions approved last year.

YRC Worldwide's truckload and expedited subsidiary, YRC Glen Moore, narrowed its losses by 25 percent in 2009, reporting an operating loss of $8.7 million.

YRC Worldwide had a net loss of $622 million last year on $5.3 billion in revenue, the company said yesterday in its 10-K annual report.

YRC Worldwide is reporting a 10 percent increase in shipments this month over February, with total shipments per day rising at its regional and national carriers.

The Teamsters union said Monday it is considering launching formal talks with ABF Freight System to renegotiating the less-than-truckload carrier's contract

The recession pummeled less-than-truckload carriers in 2009 without regard to size, driving revenue down at a double-digit rate at all of the top 25 LTL trucking companies.

When Old Dominion Freight Line first ventured into warehousing, capacity was tight and space was at a premium. Unfortunately, that was in November 2008.

At the end of 2009, the less-than-truckload industry had been razed by a price war that burned away carrier profits.

Greatwide Logistics aims to recruit mid-tier shippers as it expands its dedicated contract carriage and third-party transportation services in the nascent recovery.

Teamster employees at YRC Worldwide subsidiary Reddaway this week turned down a proposed contract that included wage and benefits cuts.

YRC Worldwide cut its payroll 34.5 percent last year and a further 5.5 percent so far in 2010, reducing its workforce from 55,000 to 34,000 employees.

Freight brokerage giant C.H. Robinson says its base of carriers shrank 6 percent, or 3,000 carriers, in 2009 as the recession took a toll on transportation capacity providers.

YRC Worldwide must boost the value of its stock above $1 per share by Aug. 30 or face delisting, the Nasdaq Stock Market exchange warned the carrier.

Same-day carrier Dynamex increased its revenue slightly in its latest quarter as sequential quarter-to-quarter core sales increased for the second consecutive period.

The less-than-truckload industry shrank 24.4 percent in 2009, as total U.S. LTL revenue plunged from $33.3 billion to $25.2 billion, according to an industry study.

Seven of the top 25 less-than-truckload carriers reported more than a billion dollars in revenue in 2009, according to a study of the LTL industry.

YRC Worldwide is still the largest U.S.

Old Dominion Freight Line is reaching deeper into shipper supply chains by expanding its warehousing division.

The economic recovery is finding its wheels at Landstar System, which saw its load volume leap 17 percent in January and again in February from depressed levels a year ago.

The trucking industry hasn't seen the last of Douglas G. Duncan.

Wolfe Research suspended its “underperform” stock rating for YRC Worldwide pending a more complete fourth-quarter and full-year earnings report from the company.

UPS Freight is extending its reach across the U.S.-Canadian border by shortening transit times between major Canadian cities and U.S. markets.

Detroit’s Ambassador Bridge, the busiest U.S.-Canadian border crossing, handled far fewer trucks than usual last year, as the recession drove the number of commercial vehicles using the span dow

By issuing a news series of bonds to pay off $45 million in near-term debt, YRC Worldwide "reduced the likelihood of a default in the very near term," said Fitch Ratings.

Canadian trucking costs appear to be stabilizing, but at a level nearly 10 percent lower than a year ago, according to an index based on less-than-truckload and truckload rates.

YRC Worldwide yesterday closed the first part of a deal that will pay off $70 million in unsecured debt that wasn’t eliminated in its $464 million debt-for-equity swap.

YRC Worldwide’s Western subsidiary Reddaway is cutting transit times throughout its network to increase next-day and two-day delivery options for shippers.

Con-way Freight is starting 2010 by strengthening its sales organization as it tries to bring pricing and profit into line with higher less-than-truckload freight volume.

The nascent economic recovery is beginning to fuel consolidation in trucking, as healthier carriers expand their networks by buying up smaller competitors and niche players.