The restructuring injects new capital into the Ohio-based company just as the prolonged freight recession is ending and pricing power has swung back toward carriers.
But as the US-Iran ceasefire collapses, ocean carriers are on alert for any hostile response from the Tehran-backed Houthi militants in Yemen.
As it becomes a standalone company, the largest US LTL provider seeks to leapfrog legacy technologies that are focused more on packages and parcels.
