Cargo ‘combi’ carriers Korean Air, Lufthansa post lower Q1 revenues
Korean Air and Lufthansa Cargo saw cargo revenues shrink substantially during the first quarter amid weak economic conditions.
Cargojet postpones more 777 freighters, tightens belt as shipments slow
Canadian air cargo company Cargojet is searching under every rock for savings to maintain profit levels as shipping demand deteriorates.
More American Shipper Headlines
As oil tumbles, marine fuel gets cheaper — and so do tanker stocks
From windfall to sustainable profit for Kuehne+Nagel, DSV
Bankrupt Bed Bath & Beyond goes after container shipping lines
Etihad Airways, SF Airlines mutually assist cargo network expansions
Strong headwinds in air, ocean markets lead to big drops at Expeditors
The softer markets in air and ocean freight are directly visible in Expeditors’ first-quarter earnings.
Gulf Coast ports show mixed cargo results in March
Container shipping warning: Green shoots are ‘transitory illusion’
As new container ships flood the market amid weak demand, Drewry expects low freight rates to persist through 2024.
Sun Country’s Amazon cargo moves stay steady as rivals fly less
Sun Country is bucking the trend of express carriers flying fewer hours because of slow shipping volumes. Its Amazon fleet is busy as ever.
UPS downshifts flight activity as volumes deteriorate
UPS is adjusting its air network to minimize wasteful flying while shipping volumes are weak.
American Airlines’ cargo revenue shrinks 38% in 1st quarter
American Airlines joined its peers in posting lower cargo revenue for the first quarter from a year ago.
Tanker shipping stocks sink despite talk of looming rate boom
Tanker investors have been disappointed before. Is the current stock pullback a bump in the road or something more?
How has state marijuana legalization affected trucking?
The American Transportation Research Institute is again investigating the safety and other impacts on the trucking industry of state-level marijuana legalization — as well as additional questions the issue raises.
As US-China relations worsen, expect supply chain chaos
Trade and Compliance
Flexport juices trade finance program with $200M credit line from KKR
FreightWaves SONAR data revealed global recession months before FedEx’s earnings
Global Supply Chain
Flexport taps Amazon pipeline again for operations leader
Nikola gets financial partner for 50 hydrogen stations
Electric truck maker Nikola will get 50 Hyla-branded hydrogen fueling stations in a five-year deal with infrastructure developer Voltera.
Daimler Truck adds Rizon medium-duty EV brand
4 top-performing state highway systems in Southeast, report finds
Startups struggling to make financial ends meet
Buttigieg addresses teen drivers, truck parking at Senate hearing
Actionable ocean insights provide pathway to success amid industry evolution
While every sector has seen its fair share of upgrades, challenging and shifting priorities, the ocean environment has proven especially rife for change.
Bill introduced to prevent ocean carrier price gouging
Price cap on Russian crude could soon face its biggest test
DOL nominee announces ‘progress’ in West Coast labor talks
Geopolitics, container shipping rates and an ominous sign from Taiwan
How should small-package shippers choose delivery partners?
Small-package shippers should consider stepping outside the norm to modernize their logistics strategy by evaluating alternative carriers.
Food giants cash in on ‘pet parents’ buying gourmet meals for ‘fur babies’
Sonar Analyst Reports
Shippers’ revenge is coming for truckload carriers
FreightWaves Classics: Shipping line brought fresh fruit to the Northeast in the late 1800s
2021 Shipper of Choice profile: The Home Depot
Hawaiian Airlines to begin Amazon cargo flights in 4th quarter
Hawaiian Airlines faces more turbulent market conditions coming out of the pandemic than nearly any airline. On the bright side is a new charter contract with Amazon that will diversify the business.
Cargolux reports record $1.6B profit in 2022
Gary/Chicago airport builds cargo apron with eye toward new tenants
Amerijet fleet reaches 25 freighters
FedEx to close pilot bases in Alaska, California and Germany
Key diesel price benchmark falls closer to $4/gallon
The weekly DOE/EIA diesel price benchmark is almost at the sub-$4 mark, where it has not been since February 2022.
Benchmark diesel price on its way down again after 1-week increase
Diesel benchmark moves higher as broader market still shows signs of weakness
Retail diesel now below price from time of Ukraine invasion
As oil market braces for higher prices, diesel benchmark drops again
Rail reform: How Congress might get a bipartisan win
In the wake of the East Palestine train derailment, Congress is poised to take action to improve rail safety. Here’s how they can do it.
3 US Class I railroads must keep giving STB service improvement updates
Union Pacific, BNSF and Norfolk Southern need to go further in improving rail service, according to a Surface Transportation Board decision requiring the railroads to submit service performance reports.
Union organizer to railroads: ‘It doesn’t have to be this way’
FreightWaves discussed with Railroad Workers United organizer Ron Kaminkow what craft union employees need from the railroads to improve morale.
Norfolk Southern, SMART-TD reach labor scheduling deal for conductors
Norfolk Southern and SMART-TD, the union group representing train conductors that work at NS, have reached a tentative agreement that addresses scheduling issues and sick leave.
California passes rule to drastically cut locomotives’ emissions
The California Air Resources Board has passed a regulation that compels freight and locomotive operators in California to adopt technologies to reduce locomotive emissions and phase out diesel locomotives.
Federal Railroad Administration urges caution on train lengths
FRA has issued a safety advisory asking freight railroads to be aware of the operational adjustments that must be made when they deploy longer trains.
Canadian Pacific Kansas City touts partnerships with Schneider, Knight-Swift
The partnerships with the two truck carriers for intermodal service will create new business opportunities for all three companies, CPKC officials said during the company’s first-quarter 2023 earnings call.
Werner misses Q1 earnings estimate, sees spot market hitting bottom in Q2
Werner Enterprises reported first quarter revenue of $832.7 million, up 9% year over year compared to the same period last year.
Less than Truckload (LTL)
Yellow posts Q1 loss as it negotiates operational changes, labor deal
Lawmaker vows to block speed limiters on trucks
RXO comes in relatively strong in quarter full of weak freight earnings
Experimental propeller in 1975 breaks midtrip, but crew notices no difference
Dear Teamsters: Negotiate hard with UPS at the table, not the picket line
WHAT THE TRUCK?!?
NASA’s supersonic Quesst, DAT vs Convoy, Bed Bath & Beyond vs OOCL – WTT
Trimble’s Q1 transportation revenue falls 2% to $155M
Deutsche Post DHL posts lower fiscal Q1 results
ACT Expo a coming of age for hydrogen-powered trucking
The Future of Logistics
Changing the game: Core business model, plus ecosystem of value
Daily Infographic: Truck Parking Club pilots hourly truck parking at Kentucky McDonald’s
Truck makers take on EPA’s zero-emissions carbon rule
Freightliner eM2 completes Daimler Truck EV commercial vehicle lineup