Freightwaves

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Shipments stepped higher again in November with freight expenditures continuing to surge, according to a Tuesday report from Cass Information Systems. The Cass Freight Index recorded a 4.5% year-over-year increase in shipments, up 2.6% from October seasonally adjusted. The expenditures component...

Fourteen Republican U.S. senators have asked President Joe Biden to exempt Canadian truck drivers who cross the U.S.-Canada border from a fast-approaching vaccine mandate for foreign essential workers in January, saying the requirement will disrupt the North American supply chain. The letter, led...

Chicago-based third-party logistics provider Redwood Logistics has been sold by private equity firm CI Capital Partners to AEA Investors. The financial terms of the transaction were not disclosed. AEA Investors is an investment firm with over $15 billion in assets under management and a 50-plus-...

Across the globe, companies are under increasing pressure to pursue social responsibility and clean energy initiatives. All the upheaval that came along with 2020 only accelerated this trend. The COVID-19 pandemic, California wildfires, Midwestern floods, and movements for racial justice gave...

November volumes at the Port of Virginia in Norfolk were at an all-time monthly record, according to the Virginia Port Authority. Year-over-year volumes were nearly 4% higher, totaling 290,759 twenty-foot equivalent units. However, November's volumes were down nearly 9% from October totals, which...

Effective Jan. 24, FedEx Corp. will begin levying delivery surcharges on harder-to-process shipments based on the distance they travel, joining rival UPS Inc. in imposing another layer of costly fees on customers whose parcels require some form of special handling. FedEx (NYSE: FDX) and UPS (NYSE...

After FreightWaves broke the news late Saturday that less-than-truckload carrier Central Freight Lines planned to cease operations on Monday after 96 years, other LTL carriers have stepped up recruiting efforts over the past few days to scoop up more than 2,100 drivers and employees who will lose...

In a landmark certification for the company, drone delivery provider Flytrex on Tuesday announced that it had received FAA approval for drone deliveries with a range of up to 1 nautical mile in North Carolina, expanding its reach to approximately 10,000 households in the state. As part of the...

Learn more at SONAR.FreightWaves.com The preceding post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga. Although the piece is not and should not be construed as editorial content, the sponsored content...

On Nov. 19, TCA voiced its public support for Sen. Roger Wicker's (R-MS) new legislation, which makes an effort to identify and reduce the issues in the U.S. supply chain. The Facilitating Relief for Efficient Intermodal Gateways to Handle Transportation (FREIGHT) Act, S. 3262, would improve the...

Digital freight ecosystem Transflo announced Tuesday that the growth-focused private equity firm Bregal Sagemount has made a new minority equity investment in the company, joining equity investor True Wind Capital and minority investor Carousel Capital to continue building solutions to eliminate...

Third-party food delivery services like Uber Eats and DoorDash have become a part of the fabric of the U.S., with well over 100 million users placing orders on the apps last year. But those companies have begun to realize that delivering from restaurants and convenience stores is just the tip of...

Solvento, a Mexico City-based digital platform providing trucking companies with access to capital, announced Monday it has raised $4.5 million in a fundraising round led by Dynamo Ventures. Other participants included Wollef Ventures and Zenda Capital, along with a $3 million debt facility from...

A leading executive at truckload carrier U.S. Xpress who headed the highly touted Variant initiative has been dismissed. U.S. Xpress (NYSE: USX), in an 8-K filing Monday, said that Cameron Ramsdell had been "terminated." No cause for the dismissal was given. Ramsdell, although identified most...