LTL

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.

Truckload was the only segment to see a gain for shipment volumes, up 1.9% sequentially, and down 1.4% annually. LTL was off 2.8% sequentially and 5.8% annually, with intermodal down 2.4% sequentially and 16.4% annually. Other modes were down 0.2% sequentially and 11.5% annually.

Richmond, Va.-based Estes Express, the nation’s fourth-largest LTL carriers with $4.4 billion revenue last year, has made a $1.3 billion bid for all of defunct Yellow’s 160 company-owned terminals.

With the dust settling from the exit of Yellow Corp. in the less-than-truckload (LTL) market, following its Chapter 11 bankruptcy protection filing earlier this month, various industry stakeholders have taken time since then to assess what Yellow’s departure, as well as its 8%-to-9% sector market share, means for LTL and the freight transportation sector, too.

Logistics Management Group News Editor Jeff Berman recently caught up with Forward Air Chairman, President and Chief Executive Officer Tom Schmitt about what this acquisition means for the company, from a service and competitive perspective, as well as other industry topics, including Yellow's recent exit from the market and the 2023 Peak Season.

Which carriers, third-party logistics providers and U.S. ports reached the pinnacle of service excellence over the course of the past year? Our readers have cast their votes, and now it’s time to introduce this year’s winners of the coveted Quest for Quality Awards.

World-class service prevails amid sharp falloff in demand.

Greenville, Tenn.-based asset-light freight and logistics services provider Forward Air and Dallas-based Omni Logistics, an asset-light, high-touch logistics and supply chain services provider owned by Ridgemont Equity Partners, announced today they will join forces, with the companies having entered into a definitive agreement to create a combined company through a cash-and-stock transaction.

Yellow Corp. made it official Monday. It didn’t need a Teamsters’ strike to enter bankruptcy. In its 100th year, Yellow did it completely on its own.

Yellow, which had $5.24 million revenue in the $58 billion less-than-truckload (LTL) market, told the union it was formally declaring bankruptcy.

While it has yet to be confirmed by the company itself, the future of Nashville-based Yellow Corporation, the third-largest United States less-than-truckload (LTL) carrier, with about 8% of the national market, looks bleak, according to various reports. A Wall Street Journal article published this week indicated that Yellow “is preparing to file for bankruptcy,” citing “people familiar with the matter,” adding that it increases the possibility of Yellow shutting down, “as customers abandon it amid a cash crunch and union negotiations.”

A potentially company-ending strike at Yellow Corp. was averted when the union says its Central States Health and Welfare Fund agreed Sunday to extend health care benefits for workers at Yellow subsidiaries YRC Freight and Holland.

Yellow Corp. is withholding approximately $50 million in pension contributions to the Teamsters Central States pension fund because it says Teamsters’ leadership is causing “obstruction” to the company’s major change of operations. That is causing what Yellow calls a “liquidity crisis” and the need to implement cash-conservation measures, including its benefit funding deferral request.

With the possibility of Nashville-based Yellow Corporation, the third-largest United States less-than-truckload (LTL) carrier, with about 8% of the national market, going on strike ostensibly gaining traction, the company yesterday addressed comments made by the Teamsters yesterday about the company’s employee pensions through the Central States Pension Fund.

This expansion allows Averitt to meet increased demand and support the growing volume of cargo in and out of the Port of Charleston. The facility is located at 7749 Palmetto Commerce Parkway in North Charleston.