LTL

About a dozen trucking companies bought properties at a court-supervised auction that resold about three-fourths of Yellow’s properties for a total of just under $1.9 billion.

Logistics Management Group News Editor Jeff Berman recently spoke with Chris Jamroz, CEO of Downers Grove, Ill.-based Roadrunner, a national less-than-truckload (LTL) services provider, with a focus on long-haul metro-to-metro shipping. Jamroz provided his insights on the state of the freight economy, the current less-than-truckload landscape, and Roadrunner's future plans, among other topics.

The ATA’s advanced Seasonally Adjusted (SA) For-Hire Truck Tonnage Index, for October, at 115.2 (2015=100), was 1.1%, from September to October, reversing the 1.1% decrease, from August to September, which came in at 113.9.

Rapidly diversifying truckload carriers are riding out a slump in long-haul ground freight. These “durable, diversified, and resilient” plans are paying off for those TL carriers willing to change with the economic headwinds facing the sector.

A bankruptcy court in Delaware has approved plans by the administrators of bankrupt less-than-truckload (LTL) carrier Yellow Corp. to use auctioneers to sell the company’s rolling stock. Yellow filed for bankruptcy on Aug. 6 and ceased operations as the nation’s 13th-largest overall trucking company and third-largest LTL operator.

Quarterly revenue, at $1.98 billion, was up 2% annually, and adjusted earnings per share fell 7% annually, to $0.88, topping Wall Street estimates, at $0.66.

Greenville, Tenn.-based asset-light freight and logistics services provider Forward Air served notice that it may not go through with its planned acquisition of Dallas-based Omni Logistics, an asset-light, high-touch logistics and supply chain services provider, which was announced in August and expected to close later this year.

The new edition of the TD Cowen/AFS Freight Index, which was recently released by New York-based investment firm Cowen Inc. and Shreveport, La.-based 3PL and freight audit and payment company AFS Logistics LLC, highlighted mixed readings, as well as expectations, for truckload, less-than-truckload (LTL), and parcel activity, from the third quarter to the fourth quarter.

Clearing business hurdles, achieving efficiencies and elevating customer service with SMC³’s LTL APIs, a SMC³ Case Study.

A trio of well-known logistics services providers, Dallas-based privately held freight brokerage and authorized UPS reseller Worldwide Express, Phoenix-based GlobalTranz, a full-service 3PL focused on freight brokerage and technology, GlobalTranz, and Dallas-based Unishippers, the second-largest privately held freight brokerage in the country, announced today they are collaborating on what they called a new “corporate identity,” entitled WWEX Group.

The first big winner in the bankruptcy dismantling of Yellow Corp. is less-than-truckload (LTL) rival, Richmond, Va.-based Estes Express, the nation’s fourth-largest LTL carrier.

The dismantling of Yellow Corp. assets has begun, and so has the realignment of the $58 billion less-than-truckload (LTL) landscape.

ODFL reported that revenue per day was down 1.4% annually in August, driven by a 6.0% decrease in LTL tons per day, which was partially offset by an increase in LTL revenue per hundredweight. And it added that the decrease in daily LTL tonnage was related to a 1.2% decrease in LTL shipments per day and also a 4.8% decrease in LTL weight per shipment.

Company officials said this is A. Duie Pyle’s first service center in West Virginia, even though it has provided service for shippers there throughout the last year.

XPO said that it is adding 58 doors to this service center, noting that they will increase its Dallas-area capacity for shippers in the metro Dallas area across various sectors, including agriculture, energy, technology, and manufacturing. XPO previously announced it plans to add 900 net new doors throughout the United States by the first quarter of 2023.