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TMC Transportation, a private, family-owned company for 41 years announced that it will transition to an employee stock ownership plan, becoming an employee-owned company.
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A shift in seasonal trends drove spot market freight volumes down 5.3% in September, as reported by the DAT North American Freight Index. Freight volumes remained stable throughout much of the third quarter, instead of a more typical decline in July that is followed by mixed trends in August and September.
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Freight costs continued to rise in September, showing the largest month-to-month increase since March, but it's not due to a raise in rates. Meanwhile, North American shipment volumes also rose for the second month in a row, according to the Cass Freight Index.
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Freight rates are generally up on the spot market while the amount of available freight has declined a little.
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A number of factors negatively impacted the third quarter of 2013, it said in a release, which has resulted in expected earnings below original estimates.
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The amount of freight carried by the for-hire transportation industry in the U.S. rose 0.4% in August from July, rising for the second consecutive month to reach the second highest level in the history of the Bureau of Transportation Statistics’ Freight Transportation Services Index which goes back to 2000.
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As of Oct. 1, all FMCSA-registered freight brokers and forwarders must have proof of a $75,000 surety bond or trust fund. While much has been reported about the FMCSA’s 60-day phase in period, the fact remains you need a $75K bond or trust in place now in order to legally operate.
Read More →Peter J. Rose, chairman and CEO of Expeditors International of Washington Inc., a global logistics company, announced his retirement as the company’s CEO effective March 1, 2014.
Read More →PHH Arval announced that Kim Bolin has been named vice president, Vehicle Maintenance Assistance and Contact Center. Bolin most recently served as director for the North American Contact Center at PHH.
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Less-than-truckload carrier ABF has been notified by the Teamsters Union that ballots to authorize a strike are being mailed on Tuesday to nearly 1,800 employees covered by the Central Region Local Cartage supplement.
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