LTL

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.

Estes Forwarding Worldwide, a subsidiary of the LTL trucking provider, is buying Superior Brokerage Services, a step that increases Estes’ ability to offer end-to-end logistics services as other providers look to do the same.

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.

Saia and XPO are the latest LTL carriers to report volume gains in August, a month when trucking employment dropped more than 2% following Yellow’s shutdown.

Regional LTL carrier A. Duie Pyle and point-to-point trucking firm Hercules Freight are finding opportunities to expand as shippers adjust to the loss of Yellow’s capacity.

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.

Control of Yellow’s real estate may determine who gets to expand in the less-than-truckload (LTL) sector, and who must scramble to find property.

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.

Omni’s international and US forwarding customers are expected to send more freight to Forward Air’s expedited less-than-truckload network in the US. 

The current freight downturn could continue until mid-2024, thanks to lower manufacturing output, high levels of employment and excess capacity, experts told the Journal of Commerce Thursday.

The merger of third-party logistics provider Omni and expedited less-than-truckload (LTL) carrier Forward Air will create a more multimodal LTL network focused on high-value freight.

Yellow lost money in its last six months as shippers moved freight elsewhere and non-operating expenses, including debt payments and interest, consumed shrinking operating profits.

The US economy is improving, but the gains in recent months haven’t translated into additional freight, nor an additional surge in trucking employment.

The third-largest US less-than-truckload (LTL) carrier said Sunday it plans to use debtor-in-possession financing to support the sale of assets, while CEO Darren Hawkins blamed the Teamsters union for its collapse.

Shipment volume at the third-largest LTL carrier in the US jumped nearly 9% in July from a year ago and 3.2% from June as shippers moved freight away from rival carrier Yellow.

The number of large US less-than-truckload carriers is shrinking, but the remaining operators are more profitable, have higher revenues and play a bigger role in customer’s supply chains.

Hedging and short selling made Yellow a “meme stock” early this week, but experts say rumors of a comeback are as wildly misplaced as investors’ cash.

The loss of the third-largest US less-than-truckload carrier is hitting a broad tranche of smaller, less-sophisticated shippers hard as they struggle with volatile rate hikes, logistics providers say.

A challenging operating environment pulled down revenue and earnings at DHL, but the Germany-based integrator remains in a highly profitable position ahead of an uncertain second half.

US shippers gained some security in the LTL market as Teamsters at TForce approved a new contract with the LTL carrier.

The third-largest less-than-truckload provider in the US stopped operations Sunday, cutting into industrywide excess capacity and increasing pressure on pricing for LTL shipments. 

Word of layoffs among non-union staff at Yellow spread Friday, and shippers report less-than-truckload (LTL) pricing is already moving higher in anticipation of a shutdown of the third-largest US LTL carrier.

In its latest attempt to avert a potential bankruptcy, unionized trucking company Yellow is trying to raise funds through the sale of Yellow Logistics.

Yellow says its talks with the Teamsters union are “ongoing,” but the less-than-truckload carrier needs to keep customers to stay alive.

Freight volumes were down almost 12% in the second quarter at Old Dominion Freight Line, but the less-than-truckload carrier says it will continue to reinvest in capacity.

Teamster local leaders endorsed a new five-year pact with LTL carrier TForce Freight, while the union eyes talks with Yellow.

Several large LTL carriers, including XPO and Estes, are adding terminals as freight flows change and customers shift business among carriers as questions linger over Yellow’s future.

The company expects a slight increase in truckload demand during the peak season amid uncertainty about the duration of the freight recession and the potential impact of Yellow's financial troubles.

A Teamsters strike against UPS Aug. 1 and a shutdown of Yellow are not inevitable, but shippers are bracing for disruption and higher costs.

Yellow’s lenders, including the US government, gave the company short-term waivers for certain loan conditions, extending its “runway” for winning Teamster support for a restructuring plan.

The largest US truckload operator will continue to add terminals to its LTL network as it absorbs truckload carrier U.S. Xpress.

The ABF-Teamsters contract is the first of three major negotiations the union is conducting this summer to make it past the finish line, with UPS and TForce Freight talks still ongoing.

In a letter Thursday, less-than-truckload provider Yellow asked President Biden to intervene personally in its dispute with the Teamsters and break an impasse it claims threatens 22,000 union jobs. 

Time is ticking away for less-than-truckload carrier Yellow, which is suing the Teamsters while its cash reserves shrink, and UPS, which got a new deadline for contract talks from the Teamsters.

US inventory levels are still high, depressing demand for trucking services and keeping a rebound in check, analysts said at the SMC3 Connections conference.

The largest unionized trucking employer in the US is taking its restructuring fight with the Teamsters to court, claiming union leadership is agitating for its demise.

Freight demand is supporting a buildout of Roadrunner’s direct LTL network after cutbacks in 2022, with new lanes connecting shippers with Las Vegas and the Port of Virginia.