Top 50 Trucking Companies

The cost of moving flatbed loads from Baltimore to warehouses in western Maryland jumped more than $100 per load compared with February’s average cost, according to data from DAT Freight & Analytics.

The bankrupt LTL provider failed to exhaust grievance procedures in its own contract as it battled the Teamsters over restructuring plans, a US District Court ruled.

The Cass Freight Index saw a 7.3% increase in shipment volumes in February from January amid warmer-than-normal weather and as the US manufacturing and services sectors expanded.

Montreal-based TFI gains capacity and capabilities on both the northern and southern US borders by acquiring Hercules, a less-than-truckload provider specializing in cross-border freight.

Changing shipping requirements and competitive pressures are reshaping US less-than-truckload networks and LTL terminals themselves at an unprecedented rate.  

The US LTL producer price index rose 2.6% in January from December, while the equivalent truckload measure fell 2.6%, underscoring differences between the sectors.

A new 228,000-square-foot warehouse and distribution facility near Laredo’s World Trade Bridge will help Ryder scale operations for cross-border shippers.

More accretive “tuck-in” deals that expand carrier niche services and coverage appear likely if the Fed cuts US interest rates and freight demand improves. 

The Journal of Commerce Truckload Capacity Index fell to 2018 levels at the end of 2023 as truckload carriers kept cutting into their fleets to lower costs. 

After the latest round of bidding, the largest US truckload operator has now acquired 25 Yellow facilities, bringing it closer to having a nationwide LTL network. 

Yield and rates are rising at some of the biggest LTL carriers after a strong finish to 2023, although lower fuel surcharges may pull gains down to mid-single digits.

Some of the largest truckload carriers, including Werner, Schneider and J.B. Hunt, are putting more emphasis on dedicated fleets as shippers seek stability and security.

Forward’s chief legal officer will take over as interim CEO as Tom Schmitt exits following a contentious legal battle with Omni Logistics.

The US Treasury Department is the first major creditor to be repaid by the bankrupt LTL provider, which received the controversial loan early in the COVID-19 pandemic.

The deal gives Ryder a significant jolt in dedicated capacity as well as greater scale with existing and new shipper customers.

UPS CEO Carol Tomé, who was on UPS’s board of directors at the time of the 2015 Coyote acquisition, acknowledged UPS did not fully appreciate how cyclical truckload and intermodal brokerage was at the time.

Artificial intelligence is quickly being integrated into everyday logistics and shipping processes such as truck check-ins, rate quotes and freight payment.

The largest US truckload operator is “filling the gaps” in its less-than-truckload network with newly acquired terminals it plans to bring online this year, and is shopping in more locations. 

Shipper-paid spot rates rose only marginally in December and are likely to stay close to the bottom established over the last six months, absent a sharp increase in demand.

US trucking employment shrank last year, and seasonal trends point to more cuts in 2024 amid weak freight demand.

With more than 160 facilities still on the auction block, a sizable amount of less-than-truckload capacity once provided by Yellow is up for grabs as the trucking market slows in early 2024.

Larger trucking employers may be reluctant to lay off workers ahead of what they hope will be an uptick in freight demand this coming spring or summer. 

The biggest trucking acquisition of 2023 gives Canada’s TFI an additional $1.8 billion in annual revenue and nearly 20 operating subsidiaries hauling oversized, heavy freight.

While the largest US trucking company increased its daily volume 4.6% this fall following Yellow’s summertime collapse, year-over-year comparisons reveal a soft market. 

Not all industry analysts believe a surge in demand is necessary for US truckload rates to rise in 2024, but some say capacity levels remain too high for a big move upward.

An attempt to buy and revive some version of Yellow was called “not viable” after a terminal auction raised $1.9 billion from 22 bidders.

Suspending the auction of its remaining leased properties may give defunct LTL provider Yellow time to work out difficulties with landlords over the leases of potentially valuable properties.

Freight forwarder Omni isn’t giving up on a merger with Forward and is moving to force completion of the deal despite Forward’s cold feet. 

With hundreds of terminals on the market, LTL trucking companies are setting their sights on Yellow’s sites and other properties as they expand and optimize networks to handle more freight.

Less-than-truckload freight once hauled by Yellow is being “reallocated” among carriers, and rates are rising, but an underlying economic impetus for a surge in LTL demand is still missing.

US truckload shippers are showing more “sensitivity” to supply and service issues, supporting a new spot market pricing floor but not giving rates much lift, according to trucking and logistics executives.

The bidding process needs to be “revolutionized” to save shippers money, with more emphasis on strategic relationships, speakers said at the NITL Engage Conference.

Less-than-truckload freight once hauled by Yellow is being redistributed among other carriers in waves as shippers shop for the best fit in price, capacity, technology and service.

A US bankruptcy court approved a $1.525 billion bid by Estes Express Lines to be the “stalking horse” that sets the floor price for Yellow’s terminals at auction, controlling their sale in November.

Cuts in oil production and increased fuel use globally are pushing up trucking fuel surcharges and, in turn, transportation costs for US shippers.

While the country’s second-largest LTL provider gained shipments in August after the demise of Yellow, it sees no signs that overall freight demand is improving.

ArcBest less-than-truckload (LTL) subsidiary ABF Freight is taking on additional volume and raising rates as a broad realignment of the US LTL sector gains speed.

Some logistics managers report longer transit times and delivery delays, as well as higher costs, as remaining LTL providers divide the freight once hauled by Yellow. 

A ‘stalking horse bid’ from Estes, a rival trucking company, would set a floor for any competing bids for the more than 160 properties owned by Yellow.

More than 60 buyers are said to be scrutinizing the terminals and assets of defunct LTL carrier Yellow as freight volumes rise at its former US trucking competitors.