Logistics

Self-driving truck software developer Plus signed a definitive agreement Monday to merge with special purpose acquisition company (SPAC) Hennessey Capital V in a deal expected to bring $500 million in cash and a $3.3 billion valuation to Plus in Q3. Hennessey is a veteran creator of shell...

For growing third-party logistics (3PLs) companies, the ability to quickly onboard personnel is critical to continued success. That includes getting up to speed quickly on various technologies. For Yeti Logistics, a Women's Business Enterprise National Conference-certified 3PL based in Iowa City,...

A second manufacturer is gearing up to produce Airbus A321 converted freighters in the U.S. this summer, taking on a European engineering firm that is gaining sales momentum eight months after entering the market in the single-aisle freighter segment where the Boeing 737-800 has a three-year head...

The nation's largest advocate for truck brokers is looking to Congress to help clarify regulations with the goal of eliminating illegal dispatching – potential changes that have riled legitimate operators within this sector of the trucking industry. The Transportation Intermediaries Association (...

The Surface Transportation Board (STB) has determined that Canadian Pacific (NYSE: CP) and Kansas City Southern (NYSE: KSU) can proceed with establishing a voting trust as a way to protect Kansas City Southern (KCS) and its shareholders during the merger process. CP and KCS had announced plans to...

This week, we're looking at what insurance for autonomous trucks might look like and how truck manufacturers are booking additional revenue by selling chargers and hand-holding advice with electric trucks. Insuring The Drive, Not The Driver Autonomous trucking software developer TuSimple and...

The Daily Dash is a quick look at what's happening in the freight ecosystem. In today's edition, we highlight a top safety official stressing the need for seat-belt law enforcement, Yellow Corp.'s disappointment with its Q1 earnings and more. The High Five 1. A top safety official in the trucking...

Produce supply chain logistics and technology company Hwy Haul has secured a $10 million Series A round of funding, co-led by Eileses Capital and BluePointe Ventures. Additional investors include AgFunder and True Blue Partners and notable angel investors like Dheeraj Pandey, founder and ex-CEO of...

On Monday, Amit Mehrotra, an analyst at Deutsche Bank, stated that due to customer demand, low inventory levels, housing demand and federal stimulus, the current market constraints on trucking and international container capacity are likely to continue into 2023. Shippers are moving to a "stronger...

While quarter-over-quarter revenue dropped, Wayfair (NYSE: W) nonetheless exceeded analysts' expectations when it announced Q1 2021 earnings Thursday morning. The e-commerce firm reported revenue of $3.5 billion, up 49.2% year-over-year from Q1 2020's $2.4 billion. Quarter-over-quarter, though,...

As the saying goes: "Never let a good crisis go to waste." Before COVID struck, AP Moller-Maersk embarked on a transformation to become a global end-to-end logistics provider. The pandemic created an unexpected and unprecedented surge in cargo demand — which Maersk is now using to accelerate its...

Deutsche Post DHL Group (NASDAQ: DPSGY) reported on Wednesday strong first-quarter results that led the German transport and logistics giant to substantially increase full-year earnings guidance and cash flow targets. For the quarter, revenue rose 26% from 2020 levels to $22.7 billion, while free...

A year after the global pandemic nearly zeroed out Class 8 truck orders, the reopening of the economy is stressing supply chains, making it unlikely that any of April's 33,500 orders will be produced this year. The situation is practically a repeat of 2018, when manufacturers produced 325,000...

Management from ArcBest Corp. (NASDAQ: ARCB) said a "robust demand" environment has them already thinking about the 2022 capital expenditures budget during a call with analysts Tuesday. The company is looking to improve its capacity profile to capture the incremental freight demand in the market....

Commercial driveline supplier Meritor Inc. (NYSE: MTOR) reported higher sales and earnings for its fiscal second quarter despite a tough comparison with the year-ago period. The Troy, Michigan-based company reported sales of $993 million compared to $871 million in the year-ago quarter. Adjusted...