<div class="phx-topic abstract-wrapper">Truck driver pay is improving, and that may be keeping more drivers behind the wheel, rather than jumping from job to job.
 
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Truck driver pay is improving, and that may be keeping more drivers behind the wheel, rather than jumping from job to job.

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<div>Truck drivers may be in short supply and high demand, but they’re not leaping at opportunities to leave their current jobs, data released Monday by the American Trucking Associations (ATA) suggest. The annualized turnover rate for truckload drivers at large motor carriers remained constant quarter to quarter at 92 percent in the fourth quarter of 2020, ATA said.“Strong freight demand may have actually contributed to turnover staying steady by keeping drivers — particularly those engaged in the dry van and temperature-controlled sectors — too busy to change jobs,” ATA chief economist Bob Costello said in a statement. For the full...

Truck drivers may be in short supply and high demand, but they’re not leaping at opportunities to leave their current jobs, data released Monday by the American Trucking Associations (ATA) suggest. The annualized turnover rate for truckload drivers at large motor carriers remained constant quarter to quarter at 92 percent in the fourth quarter of 2020, ATA said. “Strong freight demand may have actually contributed to turnover staying steady by keeping drivers — particularly those engaged in the dry van and temperature-controlled sectors — too busy to change jobs,” ATA chief economist Bob Costello said in a statement. For the full year, the driver turnover rate was 90 percent, compared with 91 percent in 2019, ATA said. That’s good news for shippers searching for truck capacity in a tight market, as well as for truckload carriers trying to stabilize the supply of drivers they offer shippers. High turnover rates mean carriers have to hire more truck drivers just to maintain capacity levels. Truckload employment levels have yet to return to pre-pandemic monthly payroll numbers. The overall decline in employment is the reason the truckload driver turnover rate has declined year over year, said Jason Miller, associate professor of logistics at Michigan State University's Eli Broad College of Business. "The tremendous decline in employment the sector has seen more than offsets higher wages," he told JOC.com. The nonseasonally adjusted numbers of longhaul truckload workers dropped 5 percent from February 2020 through July last year, and then rose 2.1 percent through November, reaching a new peak of 505,300. After staying at that plateau in December, truckload employment fell 1.1 percent in January 2021 to about 500,000, US Bureau of Labor Statistics (BLS) data show. Click to enlarge . The JOC Trucking Employment Index dropped to 102 in February from a reading of 102.3 in January and a high point of 105.6 in February 2020. For-hire trucking employment peaked in November 2019 at about 1,525,000, according to the BLS data. The index is based on fourth-quarter 2006 trucking employment levels, the peak before the 2008–09 recession. Turnover improved since 2018 The 92 percent turnover rate is high, but not as high as the 98 percent rate the ATA reported for the second quarter of 2018, the last year of frenzied trucking activity. In the fourth quarter, the turnover rate at smaller carriers — those defined by the ATA as having less than $30 million in annual revenue — dropped 2 percentage points to 72 percent, the association reported. What does the turnover rate mean? The number alone can be misleading. A 90 percent turnover rate doesn’t necessarily mean 90 percent of a firm’s employees leave each year. At a truckload carrier with 100 drivers, 70 of them might stay put, while 30 drivers must be replaced three times within a year. That would create a 90 percent turnover rate. High driver turnover greatly adds to the cost of trucking, with the cost of recruiting and hiring a new driver running thousands of dollars — costs that run higher as the driver supply tightens, as it did in 2014, 2018, and again in the second half of 2020. That, along with higher truck driver wages and benefit costs, puts pressure on the rates shippers pay to move freight. Demand for truck drivers is heading up in 2021, Costello noted. “With the impact of recently passed fiscal stimulus, and the quickening pace of vaccinations in the US, we are likely to see continued improvement in the economy, which will drive not just healthier freight volumes, but are likely to create even more demand for drivers, tightening the market,” he said. Contact William B. Cassidy at bill.cassidy@ihsmarkit.com and follow him on Twitter: @willbcassidy .

Trucking labor

Truckload

US truckload driver turnover flattens as wages, demand rise: ATA

<div class="phx-topic abstract-wrapper">But the revision comes as the carrier saw sharp declines in third-quarter revenues and profit amid the slump in freight rates.</div>

But the revision comes as the carrier saw sharp declines in third-quarter revenues and profit amid the slump in freight rates.

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<div class="phx-topic">Maersk on Thursday raised the lower end of its full-year earnings guidance, citing resilient cargo demand despite a slump in container freight rates. But the revision came as the carrier saw sharp declines in third-quarter revenues and profit amid the softer freight rates. Maersk said global container volume growth is now forecast at 4% this year, up from a prior forecast of 2% and 4%. As a result, Maersk’s full-year earnings before interest, taxes, depreciation, and amortization (EBITDA) is now forecast at between $9 billion and $9.5 billion, up from $8 billion to $9.5 billion projected in August. And underlying earnings before interest and taxes (EBIT) is projected at between $3 billion to $3.5 billion, up from $2 billion to $3.5 billion. But the revised guidance came as Maersk unveiled mixed third-quarter results, with net profit in its liner division crashing on the lower freight rates despite the increase in volumes, while its terminals and logistics divisions saw revenue gains. Maersk said loaded volumes, driven by Asian exports, climbed 7% in the third quarter to 3.4 million TEUs, up from 3.2 million TEUs in the year-earlier period. But the company was hit by a drop in average loaded freight rates, which were 31% lower across most trades as the high rates seen in July had declined by the end of the quarter. <div class="wrapper-narrow"><dynamic-object type="jocchartid" resource-id="633d74d4-3e57-4d30-9b26-c9b52f6efb5c"></dynamic-object></div>According to the World Container Index (WCI) as assessed by Drewry, average global container spot rates had fallen from a July 1 peak of $5,806 per FEU to $1,822 as of Oct. 1. Volumes handled by APM Terminals rose 8.7% year on year to 3.7 million TEUs in Q3, fueled by strong growth across the Americas, Europe and Africa. The gain was driven by the bounce in cargo through its terminal network after Maersk Line launched the Gemini Cooperation alliance with Hapag-Lloyd in February. <h3>Slump in freight rates hits ocean division earnings </h3>Overall, A.P. Moller – Maersk saw net profit drop by 67% to $1 billion in the third quarter, while revenue fell 10% to $14.2 billion. The slump in freight rates led to an 18% fall in revenue at Maersk’s ocean division, to $9.2 billion, despite the higher loaded volumes. EBITDA more than halved to $1.8 billion from $4 billion. Revenue at Maersk’s terminals division surged 22% in Q3 to $1.4 billion on the back of high volumes, while the logistics division posted a 2% increase in revenue to $4 billion. Contact Keith Wallis at <a href="mailto:keithwallis@hotmail.com">keithwallis@hotmail.com.</a></div>

Maersk on Thursday raised the lower end of its full-year earnings guidance, citing resilient cargo demand despite a slump in container freight rates. But the revision came as the carrier saw sharp declines in third-quarter revenues and profit amid the softer freight rates. Maersk said global container volume growth is now forecast at 4% this year, up from a prior forecast of 2% and 4%. As a result, Maersk’s full-year earnings before interest, taxes, depreciation, and amortization (EBITDA) is now forecast at between $9 billion and $9.5 billion, up from $8 billion to $9.5 billion projected in August. And underlying earnings before interest and taxes (EBIT) is projected at between $3 billion to $3.5 billion, up from $2 billion to $3.5 billion. But the revised guidance came as Maersk unveiled mixed third-quarter results, with net profit in its liner division crashing on the lower freight rates despite the increase in volumes, while its terminals and logistics divisions saw revenue gains. Maersk said loaded volumes, driven by Asian exports, climbed 7% in the third quarter to 3.4 million TEUs, up from 3.2 million TEUs in the year-earlier period. But the company was hit by a drop in average loaded freight rates, which were 31% lower across most trades as the high rates seen in July had declined by the end of the quarter. According to the World Container Index (WCI) as assessed by Drewry, average global container spot rates had fallen from a July 1 peak of $5,806 per FEU to $1,822 as of Oct. 1. Volumes handled by APM Terminals rose 8.7% year on year to 3.7 million TEUs in Q3, fueled by strong growth across the Americas, Europe and Africa. The gain was driven by the bounce in cargo through its terminal network after Maersk Line launched the Gemini Cooperation alliance with Hapag-Lloyd in February. Slump in freight rates hits ocean division earnings Overall, A.P. Moller – Maersk saw net profit drop by 67% to $1 billion in the third quarter, while revenue fell 10% to $14.2 billion. The slump in freight rates led to an 18% fall in revenue at Maersk’s ocean division, to $9.2 billion, despite the higher loaded volumes. EBITDA more than halved to $1.8 billion from $4 billion. Revenue at Maersk’s terminals division surged 22% in Q3 to $1.4 billion on the back of high volumes, while the logistics division posted a 2% increase in revenue to $4 billion. Contact Keith Wallis at keithwallis@hotmail.com.

Container lines

Container Shipping News

Maritime

Maersk boosts earnings guidance on higher container volume growth

<div class="phx-topic abstract-wrapper">With calculations based on weight, the burden of CO2 emissions generated by passenger aircraft is being unfairly placed on the freight carried below decks, forwarders say. </div>

With calculations based on weight, the burden of CO2 emissions generated by passenger aircraft is being unfairly placed on the freight carried below decks, forwarders say.

<div class="phx-topic">ABU DHABI — The air cargo market is facing difficulties managing how CO2 emissions are calculated and apportioned between freighter aircraft and the bellies of passenger planes. With the calculations based on weight, forwarder DSV told delegates at The International Air Cargo Association’s (Tiaca) annual Air Cargo Forum that the burden of CO2 emissions being generated by passenger aircraft was unfairly placed on the freight being carried below decks. “Passengers with their weight and space around them occupy 80% of an aircraft and cargo 20%, but because cargo is denser and uses all available space, the weight might be 50:50,” Achim Martinka, DSV’s vice president of global air freight, commercial and sustainability, said Wednesday. “Under the current calculation methods by IATA [International Air Transport Association], the total CO2 generated by that passenger aircraft will be 50:50, so cargo must shoulder a bigger proportion of the CO2 costs despite only using 20% of the aircraft and utilizing the space far more efficiently than passengers,” Martinka said. With regulations in Europe putting a price on carbon under the EU emissions trading system, “we are not talking small numbers,” he said. “If you are moving 100 tons from Paris to Chicago it might be a 40% difference between using a freighter or a passenger plane,” Martinka said. “With the current calculation methodology, if a shipper wanted to lower his CO2 footprint, one of the many options we could suggest would be to send cargo on a freighter instead of belly cargo.” <h3>Weight-based measure ‘not perfect’ </h3>Brendan Sullivan, global head of cargo at IATA, said the CO2 calculation uses a weight-based allocation principle to share total flight emissions. The industry standard allocates a proportional share of the total CO2 emissions to freight and passengers based on their respective weight, including checked baggage. “It is not perfect — there is no perfect methodology for this — but it is a transparent and an industry-wide standardized way to calculate CO2 emissions,” Sullivan told the Journal of Commerce at the Tiaca event. “In the future we will be able to refine the transparency and ultimately drive reduced emissions.” Sullivan noted that assessing carbon emissions from freighters was a straightforward process, with fuel burn directly corresponding to the weight of the cargo and aircraft. Helene Goury, sustainability manager at Air France KLM Martinair Cargo, said airlines were aware of the challenge faced by shippers and were looking at ways to make the CO2 calculations fairer. “One of the barriers to make sure we compare and measure in the same way is the data, because a lot of decisions are being made based on data, and if the data is not right, how can we make the right decision?” she said. “It is a challenge we are trying to solve, and it is taking time because it is not an easy task.” Contact Greg Knowler at <a href="greg.knowler@spglobal.com">greg.knowler@spglobal.com</a>. </div>

ABU DHABI — The air cargo market is facing difficulties managing how CO2 emissions are calculated and apportioned between freighter aircraft and the bellies of passenger planes. With the calculations based on weight, forwarder DSV told delegates at The International Air Cargo Association’s (Tiaca) annual Air Cargo Forum that the burden of CO2 emissions being generated by passenger aircraft was unfairly placed on the freight being carried below decks. “Passengers with their weight and space around them occupy 80% of an aircraft and cargo 20%, but because cargo is denser and uses all available space, the weight might be 50:50,” Achim Martinka, DSV’s vice president of global air freight, commercial and sustainability, said Wednesday. “Under the current calculation methods by IATA [International Air Transport Association], the total CO2 generated by that passenger aircraft will be 50:50, so cargo must shoulder a bigger proportion of the CO2 costs despite only using 20% of the aircraft and utilizing the space far more efficiently than passengers,” Martinka said. With regulations in Europe putting a price on carbon under the EU emissions trading system, “we are not talking small numbers,” he said. “If you are moving 100 tons from Paris to Chicago it might be a 40% difference between using a freighter or a passenger plane,” Martinka said. “With the current calculation methodology, if a shipper wanted to lower his CO2 footprint, one of the many options we could suggest would be to send cargo on a freighter instead of belly cargo.” Weight-based measure ‘not perfect’ Brendan Sullivan, global head of cargo at IATA, said the CO2 calculation uses a weight-based allocation principle to share total flight emissions. The industry standard allocates a proportional share of the total CO2 emissions to freight and passengers based on their respective weight, including checked baggage. “It is not perfect — there is no perfect methodology for this — but it is a transparent and an industry-wide standardized way to calculate CO2 emissions,” Sullivan told the Journal of Commerce at the Tiaca event. “In the future we will be able to refine the transparency and ultimately drive reduced emissions.” Sullivan noted that assessing carbon emissions from freighters was a straightforward process, with fuel burn directly corresponding to the weight of the cargo and aircraft. Helene Goury, sustainability manager at Air France KLM Martinair Cargo, said airlines were aware of the challenge faced by shippers and were looking at ways to make the CO2 calculations fairer. “One of the barriers to make sure we compare and measure in the same way is the data, because a lot of decisions are being made based on data, and if the data is not right, how can we make the right decision?” she said. “It is a challenge we are trying to solve, and it is taking time because it is not an easy task.” Contact Greg Knowler at greg.knowler@spglobal.com .

Air Cargo Carriers News

Air Cargo

Belly freight shouldering airlines’ CO2 emissions burden: forwarders

<div class="phx-topic abstract-wrapper">The Jones Act carrier said pricing for expedited ocean freight stayed firm in the quarter despite lower overall volumes from China amid the trade dispute between Washington and Beijing. </div>

The Jones Act carrier said pricing for expedited ocean freight stayed firm in the quarter despite lower overall volumes from China amid the trade dispute between Washington and Beijing.

<div class="phx-topic">Matson on Wednesday reported third-quarter results well above expectations as premium pricing for expedited trans-Pacific freight offset lower volumes out of China. The Jones Act carrier posted third-quarter earnings of $4.24 per share on total revenues of $880.1 million, which were down 28% and 8%, respectively, from the year-earlier quarter. But the results were much better than analyst estimates of $3.25 per share and $837 million, according to S&amp;P Global Capital IQ Estimates. Despite a 12.8% drop in China container volumes during the period and a weaker spot freight market in the trans-Pacific, Matson Chief Executive Matt Cox said the carrier mostly held the line on premium pricing for its expedited services. While its overall vessel utilization had been hovering near 70% due to the US-China trade dispute, Cox said during an earnings call that dropping Matson’s rates was not likely to induce more demand. “The actions that are happening on [trans-Pacific] pricing now are really having zero impact on Matson’s pricing,” he said. “We really are pricing on a totally different threshold, which is the customer who has cargo that needs to move fast, whether it’s a late production or whether it’s unforecasted demand.” Cox, meanwhile, said Matson <a href="https://www.joc.com/article/china-returns-fire-with-retaliatory-port-fees-targeting-us-affiliated-ships-6095198">has paid $6.4 million in port fees to China that began Oct. 14</a> but will be suspended under terms <a href="https://www.joc.com/article/year-long-pause-on-us-port-fees-targeting-china-vessels-to-start-nov-10-6108431">of the broad trade agreement announced last week</a> between Washington and Beijing. Cox said the carrier was looking at an additional cost of $80 million per year without the truce. While Matson declined to pass the fee onto its customers, it’s unclear whether there will be a refund mechanism, Cox said, adding that he expects a determination on that in the next week or two. <h3>More volumes coming from other countries </h3>Matson, which added a feeder service from Vietnam to its mainline trans-Pacific services, is starting to see more volumes coming out of the country, Cox said. He added Vietnam accounts for about one in five containers on its expedited services, with other Southeast Asian countries expected to also add more volumes as shippers switch sourcing. “We also see cargo moving from Cambodia over the border to our Ho Chi Minh City service,” Cox said. “We’re also seeing cargo come out of Thailand, Malaysia, the Philippines. We do expect Thailand and other origins to continue to grow as we transition into 2026 and beyond.” On the Jones Act side of its business, Matson saw 4% volume growth in the Alaska trade. Cox said the carrier had one additional sailing on its Alaska service during the third quarter, and the state itself is doing well economically, supporting the retail trade. Matson’s Hawaii business only saw modest growth amid slowing tourism and lackluster economic growth. Contact Michael Angell at <a href="mailto:michael.angell@spglobal.com">michael.angell@spglobal.com</a>. </div>

Matson on Wednesday reported third-quarter results well above expectations as premium pricing for expedited trans-Pacific freight offset lower volumes out of China. The Jones Act carrier posted third-quarter earnings of $4.24 per share on total revenues of $880.1 million, which were down 28% and 8%, respectively, from the year-earlier quarter. But the results were much better than analyst estimates of $3.25 per share and $837 million, according to S&P Global Capital IQ Estimates. Despite a 12.8% drop in China container volumes during the period and a weaker spot freight market in the trans-Pacific, Matson Chief Executive Matt Cox said the carrier mostly held the line on premium pricing for its expedited services. While its overall vessel utilization had been hovering near 70% due to the US-China trade dispute, Cox said during an earnings call that dropping Matson’s rates was not likely to induce more demand. “The actions that are happening on [trans-Pacific] pricing now are really having zero impact on Matson’s pricing,” he said. “We really are pricing on a totally different threshold, which is the customer who has cargo that needs to move fast, whether it’s a late production or whether it’s unforecasted demand.” Cox, meanwhile, said Matson has paid $6.4 million in port fees to China that began Oct. 14 but will be suspended under terms of the broad trade agreement announced last week between Washington and Beijing. Cox said the carrier was looking at an additional cost of $80 million per year without the truce. While Matson declined to pass the fee onto its customers, it’s unclear whether there will be a refund mechanism, Cox said, adding that he expects a determination on that in the next week or two. More volumes coming from other countries Matson, which added a feeder service from Vietnam to its mainline trans-Pacific services, is starting to see more volumes coming out of the country, Cox said. He added Vietnam accounts for about one in five containers on its expedited services, with other Southeast Asian countries expected to also add more volumes as shippers switch sourcing. “We also see cargo moving from Cambodia over the border to our Ho Chi Minh City service,” Cox said. “We’re also seeing cargo come out of Thailand, Malaysia, the Philippines. We do expect Thailand and other origins to continue to grow as we transition into 2026 and beyond.” On the Jones Act side of its business, Matson saw 4% volume growth in the Alaska trade. Cox said the carrier had one additional sailing on its Alaska service during the third quarter, and the state itself is doing well economically, supporting the retail trade. Matson’s Hawaii business only saw modest growth amid slowing tourism and lackluster economic growth. Contact Michael Angell at michael.angell@spglobal.com .

Trans-Pacific

Matson Q3 results beat expectations despite weak trans-Pacific market

<div class="phx-topic abstract-wrapper">LTL carriers are reining in capital spending on property, holding new terminals and doors in reserve as they await a hoped-for turnaround in freight demand in 2026. </div>

LTL carriers are reining in capital spending on property, holding new terminals and doors in reserve as they await a hoped-for turnaround in freight demand in 2026.

<div class="phx-topic">The less-than-truckload (LTL) land rush in the US is nearing its end as bankrupt Yellow runs out of terminals to sell and potential buyers run out of freight to fill them. Despite the sale of <a href="https://www.joc.com/article/yellow-terminal-auction-redrawing-us-ltl-map-as-pricing-surge-subsides-5222598">hundreds of properties</a> and the construction of many new terminals over the last two years, the LTL sector still has less capacity than it did before Yellow’s collapse in 2023. That capacity shortfall has supported higher LTL pricing. The US long-distance LTL producer price index, a measure of all-inclusive pricing, was up 10.5% year over year in August, before the US government shutdown. <div class="wrapper-narrow"><dynamic-object type="jocchartid" resource-id="b8bff0bb-e602-4052-88a8-7955d25f97d2"></dynamic-object></div>“If you look at pre-Yellow and post-Yellow, the number of doors is down about 6%,” Mario Harik, XPO CEO, told the Journal of Commerce. “The number of terminals is down by a similar amount.” Compared with 2020, however, LTL capacity is down about 10%, Harik said. Demand for LTL freight services, however, is dropping, too, with publicly-owned LTL carriers reporting a year-over-year <a href="https://www.joc.com/article/top-ltl-carriers-maintain-profit-while-planning-paths-to-freight-recovery-6105968">decline in daily shipments</a>. A bleak freight outlook has carriers putting network expansion plans on hold, or at least slowing them down. “We haven’t opened any service centers this year,” Adam Satterfield, CFO of Old Dominion Freight Line (ODFL), told analysts during a third-quarter earnings call last week. That’s a unique statement coming from an LTL executive. ODFL — the second-largest US LTL provider ranked by revenue — was one of the few large LTL carriers to abstain from the rush to buy terminals from bankrupt Yellow in 2023 and 2024. “I think we’ve opened six service centers going back to the end of 2022, so we definitely have built up some capacity,” Satterfield said. In contrast, Saia has opened 39 terminals since 2022 and 17 in the past year, most of them purchased from Yellow. Estes Express Lines purchased 37 owned and leased terminals from Yellow since 2022, and XPO acquired 28 Yellow terminals. Knight-Swift Transportation Holdings, R+L Carriers, ArcBest’s ABF Freight System, Central Transport, Pitt Ohio, A. Duie Pyle and <a href="https://www.joc.com/article/ltl-carriers-expanding-us-networks-despite-low-freight-demand-6053685">Roadrunner</a> all joined the real estate rush. That rush has now slowed to a trickle. Yellow had four carrier subsidiaries with 308 terminals at the end of 2022. Through partnerships with Ducera and CBRE, Yellow reached out to approximately 650 potential buyers and entered nondisclosure agreements with 400 of them, according to court filings. As of October, the company had just eight facilities left, according to bankruptcy court filings, including a 426-door facility in Chicago Heights, Illinois. ArcBest purchased an 18-door Montgomery, Alabama, terminal from Yellow in October for $375,000, and three other facilities were acquired by real estate developers. <h3>Slowing down </h3>Yellow’s bankruptcy was the opportunity of a generation for competitors that had plenty of cash but were hemmed in when it came to property needed to expand. “Our nationwide footprint allows us to build deeper relationships with customers, and we’re seeing the benefit of the investments made in our network,” Saia President and CEO Frederick Holzgrefe said during an earnings call last week. Saia’s new terminals have contributed a proportionally greater share of freight than its existing properties and likely helped Saia limit its year-over-year decline in daily shipment volume to 1.9% in the third quarter. And its expansion isn’t done, CFO Matthew Batteh said during the call. “We still have opportunities and dots we need to put on the map,” he said. But Saia sees slow growth ahead, and that will temper its expectations for expansion. “We’re slowing capital investment ... and making sure we’re in a position to take advantage of the opportunities that will inevitably be there for us,” Holzgrefe said. Knight-Swift, which leaped into the LTL market in 2021 with the <a href="https://www.joc.com/article/knight-swift-combining-ltl-subsidiaries-to-form-one-carrier-under-act-brand-6102388">purchase of AAA Cooper Transportation</a> and purchased more than 25 terminals from Yellow, opened one new service center in the third quarter and replaced two smaller sites with larger facilities. “We still feel very encouraged that we’ll see growth in our existing network that we have without opening many properties here in the near term,” CEO Adam Miller said last week. ODFL is holding some planned terminals and capacity “in reserve,” said Satterfield. “We just think it’s more appropriate to hold them out versus increasing the number of service centers in operation, which increases line-haul expense, weakens your density even further and puts more pressure on the costs,” he told analysts. But Satterfield also believes there is less LTL capacity available today, even with excess capacity running as high as 30% in ODFL’s network. “I think what we know was a capacity-constrained environment in 2022 will be even more capacity constrained when we do eventually get into the upcycle,” he said. Contact William B. Cassidy at <a href="mailto:bill.cassidy@spglobal.com">bill.cassidy@spglobal.com</a>. </div>

The less-than-truckload (LTL) land rush in the US is nearing its end as bankrupt Yellow runs out of terminals to sell and potential buyers run out of freight to fill them. Despite the sale of hundreds of properties and the construction of many new terminals over the last two years, the LTL sector still has less capacity than it did before Yellow’s collapse in 2023. That capacity shortfall has supported higher LTL pricing. The US long-distance LTL producer price index, a measure of all-inclusive pricing, was up 10.5% year over year in August, before the US government shutdown. “If you look at pre-Yellow and post-Yellow, the number of doors is down about 6%,” Mario Harik, XPO CEO, told the Journal of Commerce. “The number of terminals is down by a similar amount.” Compared with 2020, however, LTL capacity is down about 10%, Harik said. Demand for LTL freight services, however, is dropping, too, with publicly-owned LTL carriers reporting a year-over-year decline in daily shipments . A bleak freight outlook has carriers putting network expansion plans on hold, or at least slowing them down. “We haven’t opened any service centers this year,” Adam Satterfield, CFO of Old Dominion Freight Line (ODFL), told analysts during a third-quarter earnings call last week. That’s a unique statement coming from an LTL executive. ODFL — the second-largest US LTL provider ranked by revenue — was one of the few large LTL carriers to abstain from the rush to buy terminals from bankrupt Yellow in 2023 and 2024. “I think we’ve opened six service centers going back to the end of 2022, so we definitely have built up some capacity,” Satterfield said. In contrast, Saia has opened 39 terminals since 2022 and 17 in the past year, most of them purchased from Yellow. Estes Express Lines purchased 37 owned and leased terminals from Yellow since 2022, and XPO acquired 28 Yellow terminals. Knight-Swift Transportation Holdings, R+L Carriers, ArcBest’s ABF Freight System, Central Transport, Pitt Ohio, A. Duie Pyle and Roadrunner all joined the real estate rush. That rush has now slowed to a trickle. Yellow had four carrier subsidiaries with 308 terminals at the end of 2022. Through partnerships with Ducera and CBRE, Yellow reached out to approximately 650 potential buyers and entered nondisclosure agreements with 400 of them, according to court filings. As of October, the company had just eight facilities left, according to bankruptcy court filings, including a 426-door facility in Chicago Heights, Illinois. ArcBest purchased an 18-door Montgomery, Alabama, terminal from Yellow in October for $375,000, and three other facilities were acquired by real estate developers. Slowing down Yellow’s bankruptcy was the opportunity of a generation for competitors that had plenty of cash but were hemmed in when it came to property needed to expand. “Our nationwide footprint allows us to build deeper relationships with customers, and we’re seeing the benefit of the investments made in our network,” Saia President and CEO Frederick Holzgrefe said during an earnings call last week. Saia’s new terminals have contributed a proportionally greater share of freight than its existing properties and likely helped Saia limit its year-over-year decline in daily shipment volume to 1.9% in the third quarter. And its expansion isn’t done, CFO Matthew Batteh said during the call. “We still have opportunities and dots we need to put on the map,” he said. But Saia sees slow growth ahead, and that will temper its expectations for expansion. “We’re slowing capital investment ... and making sure we’re in a position to take advantage of the opportunities that will inevitably be there for us,” Holzgrefe said. Knight-Swift, which leaped into the LTL market in 2021 with the purchase of AAA Cooper Transportation and purchased more than 25 terminals from Yellow, opened one new service center in the third quarter and replaced two smaller sites with larger facilities. “We still feel very encouraged that we’ll see growth in our existing network that we have without opening many properties here in the near term,” CEO Adam Miller said last week. ODFL is holding some planned terminals and capacity “in reserve,” said Satterfield. “We just think it’s more appropriate to hold them out versus increasing the number of service centers in operation, which increases line-haul expense, weakens your density even further and puts more pressure on the costs,” he told analysts. But Satterfield also believes there is less LTL capacity available today, even with excess capacity running as high as 30% in ODFL’s network. “I think what we know was a capacity-constrained environment in 2022 will be even more capacity constrained when we do eventually get into the upcycle,” he said. Contact William B. Cassidy at bill.cassidy@spglobal.com .

Trucking News

Surface

US LTL ‘land rush’ reaches its end amid long-term freight decline

<div class="phx-topic abstract-wrapper">Shippers Linde and Air Liquide are leaning on their project backlogs for future cargoes, bucking talk of an “industrial recession.” </div>

Shippers Linde and Air Liquide are leaning on their project backlogs for future cargoes, bucking talk of an “industrial recession.”

<div class="phx-topic">The two largest global industrial gas suppliers are leveraging investments in US projects to offset sluggish industrial activity worldwide and ongoing market uncertainties going into the last quarter of the fiscal year. In their latest earnings remarks, suppliers Linde and Air Liquide pointed to continued challenges from turbulent market conditions and currency fluctuations while looking to their project backlogs as signs of future growth. Considered companies that serve as indicators of industrial market trends, Linde and Air Liquide are key providers of breakbulk and project cargo. The companies supply shipments such as gas storage tanks and heavy equipment for large industrial projects in industries including manufacturing, chemicals and steel production. Despite an ongoing global “industrial recession,” a $10 billion project backlog is driving optimism for long-term prospects at Linde, the world’s largest industrial gas supplier, CEO Sanjiv Lamba said during the company’s third-quarter earnings call on Oct. 31. The company is also exploring US steel and metal projects and facility expansions that could create greater gas demand. “We find ourselves positioned with the right players who are contemplating that expansion,” Lamba said. Manufacturing was the company’s fastest-growing industrial market for the US-German company in the third quarter, with growth being the most pronounced in the United States. “We seem to have lapped some of the tariff concerns, and this has translated into a healthy uptick in manufacturing activity,” Lamba said. Global sales rose 3% year over year to $8.6 billion for the quarter despite “stagnant industrial activity,” Lamba said. The Americas accounted for 72% of Linde’s $10 billion project backlog, which remained flat from a year ago. Sales in the Americas grew 3% to $3.8 billion for the quarter. Lamba said Linde remains guarded about any near-term recovery from a global “industrial recession.” Industrial sectors — including manufacturing, chemicals, energy, and metals and mining — accounted for 54% of the company’s global end markets, a 5% increase over last year. <h3>Air Liquide invests $100 million in US projects </h3>French industrial gas supplier Air Liquide reached a record $5.8 billion investment backlog, with the company announcing $100 million in investments in US projects, according to the company’s latest quarterly earnings results. “This is a solid, tangible indicator of future growth, which will begin to flow through as the projects under construction are going to start up,” CEO François Jackow said during the company’s Oct. 28 earnings call. Air Liquide is investing $50 million to develop hydrogen production along the US Gulf Coast by supplying hydrogen to two of the largest refiners in the US. The company is also investing over $50 million in the US semiconductor industry by building an ultra-pure gas production plant in the southeastern US on the site of the world’s largest manufacturer for advanced chip design. Air Liquide did not identify any of the companies in which it is investing. Sales for the quarter rose 2% to $7.6 billion despite the company operating in “the same turbulent environment that has defined the market since the start of the year,” Jackow said. In the Americas, gas and services sales rose 5% to $2.9 billion, driven by new production startups and strong demand. Air Liquide in the third quarter also acquired South Korean industrial gas company DIG Airgas and its backlog of nearly 20 secured projects. “This is highly strategic because it gives us a stronger foothold in the world’s fourth-largest industrial gas market, which is expected to double in the next 10 years,” Jackow said. Contact Autumn Cafiero Giusti at <a href="mailto:autumn@autumngiusti.com">autumn@autumngiusti.com</a>. </div>

The two largest global industrial gas suppliers are leveraging investments in US projects to offset sluggish industrial activity worldwide and ongoing market uncertainties going into the last quarter of the fiscal year. In their latest earnings remarks, suppliers Linde and Air Liquide pointed to continued challenges from turbulent market conditions and currency fluctuations while looking to their project backlogs as signs of future growth. Considered companies that serve as indicators of industrial market trends, Linde and Air Liquide are key providers of breakbulk and project cargo. The companies supply shipments such as gas storage tanks and heavy equipment for large industrial projects in industries including manufacturing, chemicals and steel production. Despite an ongoing global “industrial recession,” a $10 billion project backlog is driving optimism for long-term prospects at Linde, the world’s largest industrial gas supplier, CEO Sanjiv Lamba said during the company’s third-quarter earnings call on Oct. 31. The company is also exploring US steel and metal projects and facility expansions that could create greater gas demand. “We find ourselves positioned with the right players who are contemplating that expansion,” Lamba said. Manufacturing was the company’s fastest-growing industrial market for the US-German company in the third quarter, with growth being the most pronounced in the United States. “We seem to have lapped some of the tariff concerns, and this has translated into a healthy uptick in manufacturing activity,” Lamba said. Global sales rose 3% year over year to $8.6 billion for the quarter despite “stagnant industrial activity,” Lamba said. The Americas accounted for 72% of Linde’s $10 billion project backlog, which remained flat from a year ago. Sales in the Americas grew 3% to $3.8 billion for the quarter. Lamba said Linde remains guarded about any near-term recovery from a global “industrial recession.” Industrial sectors — including manufacturing, chemicals, energy, and metals and mining — accounted for 54% of the company’s global end markets, a 5% increase over last year. Air Liquide invests $100 million in US projects French industrial gas supplier Air Liquide reached a record $5.8 billion investment backlog, with the company announcing $100 million in investments in US projects, according to the company’s latest quarterly earnings results. “This is a solid, tangible indicator of future growth, which will begin to flow through as the projects under construction are going to start up,” CEO François Jackow said during the company’s Oct. 28 earnings call. Air Liquide is investing $50 million to develop hydrogen production along the US Gulf Coast by supplying hydrogen to two of the largest refiners in the US. The company is also investing over $50 million in the US semiconductor industry by building an ultra-pure gas production plant in the southeastern US on the site of the world’s largest manufacturer for advanced chip design. Air Liquide did not identify any of the companies in which it is investing. Sales for the quarter rose 2% to $7.6 billion despite the company operating in “the same turbulent environment that has defined the market since the start of the year,” Jackow said. In the Americas, gas and services sales rose 5% to $2.9 billion, driven by new production startups and strong demand. Air Liquide in the third quarter also acquired South Korean industrial gas company DIG Airgas and its backlog of nearly 20 secured projects. “This is highly strategic because it gives us a stronger foothold in the world’s fourth-largest industrial gas market, which is expected to double in the next 10 years,” Jackow said. Contact Autumn Cafiero Giusti at autumn@autumngiusti.com .

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The world of LTL is slow to embrace change. Business anachronisms permeate current supply chain processes. These vestiges of the way things used to work define the LTL freight transportation procurement process of many modern shippers.David Knuth, logistics specialist at IEWC, a global supplier of cable and wire based in Wisconsin, is happy to have modernized the RFP process, automating the entire LTL bidding procedure with Bid$ense, SMC³’s automated truckload and LTL freight transportation sourcing solution. But when prompted, he can still recall what once was.In his previous job, a large part of his duties were consumed by creating an intermodal bid package for carriers. In a spreadsheet, Knuth detailed the company’s volumes lane by lane, taking care to delete any errant keystrokes or misleading data. He would then email out the information to each carrier, taking time to respond to detailed technical questions about the spreadsheet data. Finally, he had to compile all the results, create an algorithm that would compare the carriers on each lane, and award the business.“It was a huge undertaking. It took about four months to do,” Knuth said of the old process. “It was almost a full-time job for that part of the year, every year.”In his new job at IEWC, he sat down with Bid$ense on day one and was amazed at the capabilities. Knuth had never before used a bid tool. SMC³’s latest versions of Bid$ense automate the process even further, taking truckload and LTL RFPs entirely online. The tool draws on RFP best-practices protocols to streamline the bidding communication process, enabling bidding carriers to respond accurately and promptly to shipper requests. The solution also does all the distribution work automatically, electronically submitting shipper bid data to carriers based on their actual service capabilities and performance records. Carriers are alerted with timely prompts for RFP deliverables, so shippers aren’t waiting by the phone for responses.Another benefit of automating the process is the data-cleansing assistance. When Knuth sent spreadsheets to carriers, data errors might cloud the bidding process; he might have to resend data or simply accept a price that did not truly reflect the costs of doing business. Data cleansing is incredibly beneficial, he said.The spreadsheet technique also made bidding analysis an onerous task. Since Bid$ense automates and streamlines the entire RFP process, intensive examination is now simple. SMC³ knows that each bid has more than one best outcome. With uniform responses from each carrier, shippers can quickly rank results and create an unlimited quantity of what-if scenarios to make the optimal procurement decision.Jesse Burnett of Central Garden &amp; Pet experiences many of the same benefits. Founded in 1980, Central Garden &amp; Pet has spent the last three decades growing from a small garden supply company to a provider of a range of products from dog chews and bird seed to soil supplements and natural insecticides. For much of its life, the company shipped these disparate goods via LTL and truckload carriers to retailers throughout the country, relying on each business unit to negotiate directly with their freight transportation providers. This arrangement worked fairly well for a small company, but as Central Garden &amp; Pet expanded, leadership decided to consolidate decision making.Burnett helped centralize the transportation decision making in 2015 with SMC³’s Bid$ense. Before Bid$ense, every business unit operated independently as far as negotiating with carriers.“There were a lot of different things just floating around,” he said. “We didn’t have master agreements in place; no national pricing at all. The pricing from carriers was just all over the place, depending on where you were.”The transformations he saw with Bid$ense were immediate. Burnett has been using the tool about every other year since its implementation at the company. Central Garden and Pet’s $19.6 million 2019 LTL bid saved the company just more than 9 percent when compared to its historical average. For Burnett, though, bid automation extends far beyond savings.“We knew that we weren’t getting the best pricing offer from our carriers just because nothing was centralized,” he continued. “We knew that if we combined everything from all these business units and paired it with one corporate offering, then it would drive some cost benefit with it.”When the company initially decided to centralize bid procurement, executives researched a number of different methodologies and technologies. In the end, though, Burnett found that Bid$ense was both widespread and well known, and that his carrier partners already knew how to use the application. Burnett also highlighted the data-cleansing process as a major benefit, saying the rigorous process ensures that carriers always return the best price.“It definitely has helped drive savings,” he said. “Any time you go out there and you drive that competitiveness with the carriers and they know they’re in a bid environment, it seems to sharpen their pencils.”Transportation procurement is an integral part of the modern supply chain. With Bid$ense, shippers can develop a strategic implementation plan that saves them time and money, but also helps them create strong relationships with their carrier partners. These carriers appreciate the solution’s data-cleansing process; when carriers receive a complete shipment history and future volume forecast, they don’t have to guess on pricing. Carriers that receive more data from shippers get a complete picture of that shipper’s freight, allowing them to accurately plan instead of simply preparing for the worst-case scenario. Clean data presented through an automated system can lead to both bigger shipment savings and a lasting partnership between carrier and customer.Whether customers are looking to streamline over-the-road transportation bidding by automating the RFP process or create an entirely new, centralized sourcing process, Bid$ense has the analytical horsepower to get the job done.SMC³ 2020 Customer Case Study

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Shippers save money, time with automated transportation bidding tools

If there’s one immutable truth in the world of logistics, it’s this: LTL is an inherently complex form of transportation. Tariffs, rates, DIM weights, transit times — it’s enough to confuse even seasoned logistics professionals. The solution to this knowledge gap has historically been on-the-job training or university supply chain education, but for a variety of reasons there is now a pressing need for third-party, remote LTL training that prepares logistics workers for transportation success. Global Scope Can Overlook Local Intricacies In the past, professionals looking to move into a supply chain career learned about the basics of supply chain from universities. However, many of these college supply chain programs are now global in scope, focusing on worldwide supply chain management instead of the intricacies of specialized domestic transportation. And even these programs, which used to be widespread, are becoming less common. LTL is not an industry of broad-brush strokes; supply chain professionals really need a pointillistic understanding of the logistics of LTL in order to excel in the industry. Accelerating Need for Dedicated LTL Education This lack of specified training put the onus on employers to prepare new hires with the LTL knowledge needed to do their jobs. Dedicated LTL study is a necessity, not a luxury. At the same time, changes in LTL and the broader supply chain world are accelerating. The reliance on e-commerce has ballooned since the start of the pandemic, and last-mile LTL shipments and related e-commerce strains on the supply chain won’t diminish once social distancing abates. That genie isn’t going back into the bottle. So supply chain employers need logistics workers that are fully versed in all aspects of the industry, ready to solve unique shipping and delivery problems based on their extensive supply chain knowledge But why care about LTL? It’s been reported that some shippers in today’s world are no longer concerned with what mode is used to ship their goods. A Multimodal Approach Ensures On-Time Delivery This mode agnosticism means supply chain stakeholders have to be well versed in all modes of transportation. As unforeseen weather events and other disruptions, such as protests, become more common, savvy logistics employees will need to be armed with familiarity of all modes, not just the most popular, to ensure that freight is delivered on time, without damage, and in the most financially expedient way possible. Offerings like SMC³’s LTL online education courses cover a wide range of topics from LTL basics and operations to more advanced concepts like pricing analytics and transportation law. The company also has plans to continually refresh content, adding new expert presenters and taking the feedback of students to make the courses even better as time goes on. Learn more about&nbsp;<a href="https://logisticstrainingcenter.com/smc3-courses/" rel="noreferrer" class="joc_admin__link">SMC³’s LTL Online Education program</a>&nbsp;and view the 2021 hybrid schedule, featuring live industry experts,&nbsp;<a href="https://www.smc3.com/onlinelearning2021/" rel="noreferrer" class="joc_admin__link">here.</a>

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Filling the Supply Chain Education Gap with LTL Education Courses

In 1995, we began operations with a clear vision: to grow alongside Mexico and connect the world through our terminals. Our priority has always been to deliver excellence in service, foster economic development, and strengthen our communities. We firmly believe that progress is not only measured in tons of cargo moved, but in the opportunities we create. _______________________________________________________________ This year marks a significant milestone: SSA Marine Mexico celebrates 30 years of presence in the country, having established itself from day one as the leading port operator nationwide. Over the past three decades, we have built a legacy of reliability, innovation, and commitment to Mexico’s growth. Our journey has been defined by continuous evolution and a steadfast dedication to our mission. SSA Marine México currently operates in six of the country’s most important ports: Cozumel, Lazaro Cardenas, Manzanillo, Progreso, Tuxpan, and Veracruz. Additionally, we have signed a concession to operate a new multipurpose terminal in Guaymas, Sonora, expanding our footprint to the north of the country. We serve a wide range of segments including containers, general cargo, automobiles, cruise ships, hydrocarbons, and asphalt. As part of this ongoing commitment, SSA Marine Mexico continues to strengthen its infrastructure and capabilities. International trade remains a key driver of global economic growth, and we are proud to support this momentum. Through our continuous improvement strategy, we invest in cutting-edge technology and equipment to deliver more efficient and competitive services, contributing to the success of Mexican businesses. •	Manzanillo, Colima- Specialized Container Terminal I: On October 13, we celebrated the arrival of two new STS (Ship To Shore) Super Post Panamax dockside cranes. This $21.2 million USD investment significantly boosts our operational capacity, streamlining cargo reception and delivery processes. In line with our modernization efforts, we will also retire four of our oldest cranes, paving the way for a more sustainable and technologically advanced fleet that meets the evolving demands of international trade. With these upgrades, SSA Marine México now operates a total of 16 cranes along our 1,350-meter dock, reaffirming our position as a national benchmark in port <span class="joc_admin__inline-image joc_admin__inline-image-aspect-ratio-4_3 joc_admin__inline-image-position-left joc_admin__inline-image-size-large" data-figure-size="large" data-figure-position="left" data-figure-aspect-ratio="4:3"><img src="/content-assets/1760982635607_Manzanillo.jpg" alt="Image provided by SSA Marine" class="joc_admin__inline-image-inherit"> •	As for the Multipurpose Terminal and Specialized Facility, also in Manzanillo, Colima, improvement and conditioning works are planned, along with the acquisition of four E-RTG (Electric Rubber-Tyred Gantry) cranes to enhance operational efficiency and sustainability. •	At our Automobile and General Cargo Terminal in the port of Veracruz, we continue to lead with specialized value-added services that support our clients’ growth. Recent investments include a new washing cabin and a general cargo warehouse, increasing indoor storage capacity by 67%. •	Lazaro Cardenas, Michoacan – Specialized Automobile Terminal: we are working on the development of an additional 4-hectare storage space within our bonded area and a 10-hectare Vehicle Distribution Center (VDC). These enhancements, along with ongoing personnel and system improvements, will reinforce our leadership in automotive handling across the Mexican Pacific coast.<span class="joc_admin__inline-image joc_admin__inline-image-aspect-ratio-4_3 joc_admin__inline-image-position-left joc_admin__inline-image-size-large" data-figure-size="large" data-figure-position="left" data-figure-aspect-ratio="4:3"><img src="/content-assets/1760982742240_Lazaro.jpg" alt="Image provided by SSA Marine" class="joc_admin__inline-image-inherit"> Through these strategic investments, SSA Marine Mexico reaffirms its commitment to the sustained growth of Mexico’s foreign trade. By expanding capacity, modernizing infrastructure, and diversifying services, we continue to strengthen the country’s competitiveness in global logistics. Today, we celebrate three decades of dedication, innovation, and leadership, with deep gratitude to our employees, clients, and partners for being part of this incredible journey. LINK: https://www.ssamarine.mx/<span class="joc_admin__inline-image joc_admin__inline-image-aspect-ratio-16_9 joc_admin__inline-image-position-left joc_admin__inline-image-size-small" data-figure-size="small" data-figure-position="left" data-figure-aspect-ratio="16:9"><img src="/content-assets/1760982787360_SSA%20Marine%20Mexico%20logo%20150pxW.png" alt="" class="joc_admin__inline-image-inherit">

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SSA Marine Mexico: 30 years growing together.

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