Latest Less-Than-Truckload Posts

In a financial development that shocked the trucking industry, 101-year-old New England Motor Freight and 10 related subsidiaries (including truckload giant Eastern Freightways) voluntarily filed for relief under Chapter 11 of the Bankruptcy Code in the U.S. Bankruptcy Court for the District of New Jersey in Newark on February 11.

In advance of today’s House Committee on Transportation and Infrastructure’s (T&I) first full committee hearing of the 116th Congress, which is addressing the current state of United States transportation infrastructure, the Washington, D.C.-based Americans for Modern Transportation (AMT) wrote a letter to the committee’s leadership calling for Congress to increase the national twin-trailer standard as a “common sense” approach to augment the current state of U.S. infrastructure, which remains mired in a long period of decline.

YRC Worldwide, which controls the fourth- and eighth-largest less-than-truckload (LTL) units with its long-haul and regional trucking companies, is offering an early peak into its operating results for the fourth quarter 2018.

Recent developments regarding a new labor agreement between UPS Freight, the les-than-truckload unit of UPS, and the Teamsters Freight National Bargaining Committee over a new labor contract could have ramifications that potentially lead to a strike, or the semblance of one.

Thomasville, N.C.-based Old Dominion Freight Line (ODFL), the number three less-than-truckload (LTL) carrier by revenue, said today that it has made upgrades to six of its 233 national service centers so far this quarter.

YRC, which controls long-haul YRC Freight and LTL regional carriers New Penn, Reddaway and Holland, reported a slight dip in second quarter net income of $14.4 million on $1.33 billion revenue, compared with net earnings of $19 million on $1.26 billion revenue in the year-ago quarter.

There is another challenge in the LTL sector that directly impacts LTL shippers not getting what they need from carriers, with carriers widening embargoes on shipments in certain parts of the United States.

The Thomasville, N.C.-based carrier reported that LTL tons per day increased 15.3% in May on an annual basis, with the main drivers being an 11.0% increase in daily LTL shipments and a 3.9% increase in LTL weight per shipment. And for the second quarter-to-date period, LTL revenue per hundredweight is up 6.7% annually.

The investment comes in the form of roughly $90 million, which, XPO said, will go towards 770 new tractors over the course of the remainder of 2018, during which time the units will be integrated into the XPO LTL fleet. These tractors will both replace, and add to, the existing fleet, with the current total number of tractors now at approximately 8,000 in North America, according to XPO.

National less-than-truckload (LTL) carrier Old Dominion Freight Line (ODFL) recently announced it opened five United States-based service centers in the second quarter, which it said is part of its growth strategy in an effort to stay up with shipper demand.

Given the decent health of the economy, specifically the freight economy, it comes as no surprise to see the less-than-truckload (LTL) market having a strong 2018. Less Than Truckload Pricing Report. Old Dominion Freight Pricing

Revived sector benefits from proprietary networks, e-commerce boom

While it has had a full-fledged less-than-truckload (LTL) fleet since acquiring Con-way in late 2015, freight transportation and logistics provider XPO Logistics said today that the former Con-way LTL business, Con-way Freight, has officially been re-branded as XPO’s North American LTL business

A new breed of leadership is creating a long-term vision to earn strategic relationships with shippers. Solid day-to-day execution and aggressive investment in technology set the direction for trucking’s new guard.

While LTL executives are bullish on the new administration’s “America First” emphasis, shippers should expect rate increases in the 3% range amid a “rational” pricing landscape.