Motor Freight

For December, the most recent month for which data is available, the SCI came in at 10.32, up from November’s 3.0 reading, which was preceded by -3.1 and -0.3 readings in September and October, respectively. December represented the highest SCI reading going back to May 2020.

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Through this collaboration, WattEV will provide electric trucking capability to Uber Freight shippers, beginning with CHEP, a pallet and container pool services provider, noted an Uber Freight blog posting. And it added that this pilot serves as an important milestone in electric freight transportation, while also establishing Uber Freight’s first EV (electric vehicle) deploymen

For December, the most recent month for which data is available, the TCI reading came in at -6.1, faring better than November’s -7.94, which followed October’s -11.25, its lowest level since the April 2020 all-time low, at -28.66. The September TCI reading came in at -2.35.

Logistics Management Group News Editor Jeff Berman recently spoke with Doug Waggoner, CEO of Chicago-based Echo Global Logistics about various topics, including: the freight economy, how Peak Season went, and rates and capacity, among others.

The United States Department of Transportation’s (DOT) Federal Motor Carrier Safety Administration (FMCSA) rolled out proposed changes to its Safety Measurement System (SMS) focused on reducing and preventing crashes.

January’s shipment reading—at 1.124—saw a 4.3% annual increase and up 1.3% compared to December. Expenditures—at 4.096—saw a 1.7% annual increase and were down 3.2% compared to December.

Seattle-based digital freight network Convoy introduced a new service that it said provides shippers with dedicated truck and trailer capacity that can flex to accommodate surges in freight. Entitled Convoy Dedicated On Demand, the company said this new service offers shippers things like cost stability and quality service expected from traditional asset carriers, coupled with the company’s flexibility, for sourcing a single truck or an entire fleet in a matter of days.

Revenue came in at $1.83 billion, for a 3.3% annual increase, and adjusted earnings per share, at $0.98, topped the $0.64 recorded for the same quarter a year ago. XPO officials cited various growth drivers that factored into its quarterly earnings growth, including growing volumes, pricing, margins, and earnings, in what is called a “challenging macro environment,” and growing its shipment count and tonnage, outperforming negative trends in the industry and typical seasonality.

With an 8.3-cent decrease, the national average fell to $4.539 per gallon, which was preceded by a 1.8-cent increase, to $4.622 per gallon, for the week of January 30 and an 8.0-cent increase, to $4.604, for the week of January 23, with a 2.5-cent decline, to $4.524, for the week of January 16.

For the fourth quarter, IANA reported that total intermodal volume—at 4,237,605 units—were off compared to the fourth quarter 2021. Total calendar year 2022 volume—at 17,716,445 units—were down 3.9% compared to 2021.

Pittsburgh-based less-than-truckload (LTL), logistics and warehouse services provider PITT OHIO said it has made transit time improvements, to the West Coast, in the form of a partnership with Cypress, Calif.-based LTL and supply chain services provider Daylight Transport.

FTR reported that January preliminary January net orders—at 21,600 units—were down 25% compared to December, while rising 2% annually. ACT reported that January preliminary North American Class 8 orders came in at 18,400 units, well below December’s 30,400 unit preliminary tally and also trailing November, at 30,300 units.

Fourth quarter freight shipments—at 113.0—were down 4.6% compared to the third quarter, for the largest sequential decline since the first quarter of 2021, and were down 7.1% annually, marking the largest annual decrease since the third quarter 2020. For expenditures, the fourth quarter reading—at 272.3—was off 0.2% compared to the third quarter and was up 1.8% annually. The annual gain represented its lowest increase since the third quarter 2020.