Borderland Mexico: Corpus Christi Port Becomes a Global Crude Oil Supplier
This week’s borderland news: Corpus Christi port becomes a global crude oil supplier; Brownsville port secures $43 million loan for ship channel expansion; US Lumber Brokers acquires Texas distribution center; Holt Truck Centers expands and acquires in Texas.
Port of Los Angeles Sets Record Volumes, Eyes $1 Trillion Imports
An early peak season, robust economy, and resilient consumer spending have propelled the Port of Los Angeles to set a new quarterly record for container throughput.
Yellow Bankruptcy Plan Allows Former Employees to Recover Paid Time Off and Commissions
Yellow’s Chapter 11 plan in federal bankruptcy court includes payments up to $100 million to employees with claims for paid time off and commissions.
How Much Does Taylor Swift Spend on International Tour Logistics?
Taylor Swift is currently on her Eras tour, spending $15 million to transport stage equipment from the UK to the US.
Marten’s Earnings and Nearly All Key Operational Metrics Decline
Marten Transport’s quarterly earnings report shows negative performance across almost all metrics.
Leaders Share Strategies for Maximizing FreightTech Investments in Tight Markets
At TIA Technovations, logistics technology leaders discussed the challenges of balancing tech investments amid tight budgets. The panel emphasized the necessity of implementing strategies, maximizing existing tools, and strengthening supplier partnerships.
Texas Trucking Company and Affiliates File for Liquidation Bankruptcy
A Texas trucking company and its affiliates have ceased operations and recently filed for liquidation bankruptcy due to severe financial conditions.
October Freight Conditions: Optimism Begins to Grow
During this month’s FreightWaves SONAR freight conditions webinar, forecasts of an optimistic market were highlighted.
Forward Air Hires Investment Bankers to Sell Company, Sources Say
Following a troubled merger, sources confirmed to FreightWaves that Forward Air is working with investment bankers to sell the company.
Coal Company Sues Dali Ship Owner for Over $100 Million in Claims
Consol Energy is suing the ship owner responsible for the collapse of the Baltimore bridge, which forced the company to close its export terminal for much of the second quarter.
Trucking and Cannabis Testing Issues Reach Supreme Court
Trucking and cannabis use are part of this week’s debate at the US Supreme Court over a driver fired for failing a THC test despite not using marijuana.
Air Freight Sector Shines with Extended Peak Season
The air freight sector is ending the year on a high note, as peak season demand continues to push freight rates higher.
Union Pacific and Vena Boost Rail Business
While hedge funds squeeze savings from other Class I railroads, Union Pacific CEO Jim Vena says his company can win new business with service and “operational excellence.”
TriumphPay Returns to Positive EBITDA
TriumphPay payment network achieved positive EBITDA in the third quarter, a key performance indicator for the company.
AB5 Wins Again: Supreme Court Declines to Review Postmates/Uber Case
Supporters of California’s AB5 independent contractor law have scored another victory as the US Supreme Court declined to review the Postmates/Uber case.
J.B. Hunt Sees Normal Seasonal Variations in Q3
J.B. Hunt Transport Services exceeded third-quarter expectations and looks forward to changes in the freight market.
Benchmark Diesel Prices Rise, Futures Drop Sharply
The benchmark diesel prices used for most fuel surcharges have risen for a fourth consecutive week, but futures prices are down sharply.
First Freight Fraud Awareness Day Sheds Light on Industry Crisis
The first Freight Fraud Awareness Day will be held Tuesday to unite the supply chain community in addressing schemes like double brokering and cargo theft, which have grown 400% since 2022.
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Source: FreightWaves
