3PL

Downers Grove, Ill.-based Roadrunner, a national less-than-truckload (LTL) services provider, with a focus on long-haul metro-to-metro shipping, said it has added five additional direct lanes to its service network. And it also noted that it has improved transit times by at least one day in 66 of its major lanes.

Quarterly revenue—at $24.4 billion—was up 8% annually, and operating income—at $1.9 billion saw a 7% annual increase. Diluted earnings per share—at $6.87—rose 27% annually, topping Wall Street expectations of $6.86. For the full fiscal year, revenue came in at $93.5 billion, for an 11% annual gain, with operating income at $6.87 billion.

May’s TVI dry van freight reading—at 256—was down 3.7% compared to April (April was down 10% compared to May), with the refrigerated TVI—at 190—also down 3.7%, and the flatbed TVI—at 240—rose 4.8%, for the same period.

Memphis-based global freight transportation and logistics services provider FedEx and Chicago-based FourKites, a provider of real-time tracking and visibility solutions across transportation modes and digital platforms announced that they have partnered up for a strategic alliance on a new supply chain visibility offering, which connects key data insights from each of their respective networks.

For April, the TCI came in at 3.21, well above March’s -7.38, which was the first negative TCI reading since May 2020.

The ATA’s advanced Seasonally Adjusted (SA) For-Hire Truck Tonnage Index, for May, came in at 117.1 (2015=100), following a 1.4% April decline, which was upwardly revised from an original reading of a 2% decrease. SA tonnage was up 1.8% in March.

The report said that DSV is looking to expand in North America, adding that CHR’s global forwarding business would provide DSV with what it called critical access to trans Pacific ocean trade lanes, with the global forwarding business potentially having a $9 billion price tag.

Now, there is talk about President Biden “considering a gas tax holiday to ease high fuel prices,” through the end of September, according to a New York Times report published this week. Were this to come to fruition, it would require Congressional approval. Given the current political climate, it could well be viewed as a longshot, to be fair.

This follows previous joint announcements by POLA and POLB, whom collectively account for roughly 40% of United States-bound import volumes, indicating that consideration of the fee would be pushed back each week going back to the week of November 22, 2021.

Ryder officials said that adding these new locations are part of its strategy to grow its broader transportation service offerings, which include freight brokerage, transportation management, and dedicated transportation. Ryder now has freight brokerage offices in Nashville, Novi, Mich., and Forth Worth, Texas.

Rail carloads—at 234,942—were down 3.6% annually, topping the week ending June 4, at 225,274, and the week ending May 28, at 233,633.

Minneapolis, Minn.-based global logistics services provider and freight forwarder C.H. Robinson (CHR) recently heralded significant progress it has made its delivery of digital quotes, for both over the past year and also the first quarter of 2022, at almost 2.7 million and 1 million, respectively, with the latter also marking a 54% annual gain.

Total May POLA volume—at 967,900 TEU (Twenty-Foot Equivalent Units)—was off 4.36% annually, while still marking its third-highest-volume month on record. And total May POLB volume came in at 890,989 TEU, down 1.8% compared to May 2021, but representing the second-highest-volume month in the port's history.

Commerce reported that May retail sales—at $672.9 billion—were down 0.3% compared to April, while seeing an 8.1% annual gain. NRF said that in its calculation of retail sales, which excludes automobile dealers, gasoline stations, and restaurants, to focus on core retail, pointed to May retail sales being flat on a seasonally-adjusted basis compared to April and up 6.7% on an unadjusted basis annually.

The close eye being kept on service levels remains fully intact based on a directive by the Washington, D.C.-based Surface Transportation Board (STB), to BNSF Railway Company (BNSF), CSX Transportation, Inc. (CSX), Norfolk Southern Railway (NSR), and Union Pacific Railroad (UP).