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Universal Logistics’ Q1 trucking revenue falls 12.6%

Universal Logistics Holdings’ first-quarter results showed year-over-year (y/y) decreases in its trucking, intermodal and managed brokerage segments, while the company’s total revenue increased 12.5% to $491.9 million.

“The first quarter was certainly a challenging environment for our transactional transportation business, but overall, I’m extremely pleased with our results,” CEO Tim Phillips said during an earnings call with analysts on Friday. “This was the best earnings-per-share and...

https://www.freightwaves.com/news/universal-logistics-q1-trucking-revenue-falls-12-6

What noncompete ban means for freight; UT’s Global Supply Chain Institute – WTT

On Episode 710 of WHAT THE TRUCK?!?, Dooner is talking about the Federal Trade Commission’s ruling that bans noncompetes. Armchair Attorney Matthew Leffler breaks down what the ruling means for employees and employers, and looks toward what’s next.

The University of Tennessee, Knoxville’s Haslam College of Business supply chain management programs are consistently ranked among the highest in the nation and the world for their industry-relevant curriculum, innovative research and custom...

https://www.freightwaves.com/news/what-noncompete-ban-means-for-freight-uts-global-supply-chain-institute-wtt

Michelle Kruger named president of Austal USA

The board of directors of Austal USA has named Michelle Kruger president of Austal USA, where she has been serving as interim president since August 2023.

Kruger joined Austal USA in 2022 as the vice president of global services and support. In that role she led Austal USA’s ship repair and warranty efforts including the development of business strategy and strategic alliances. She also oversaw the stand up of Austal USA’s San Diego repair yard including the delivery of a purpose-built...

https://www.marinelog.com/shipbuilding/shipyards/shipyard-news/michelle-kruger-named-president-of-austal-usa/

Pacific Basin to apply graphene-based propeller coatings on 40 ships

One of the world’s largest bulker operators, Hong Kong headquartered Pacific Basin Shipping Limited, is to apply a sustainable graphene-based propeller coating, XGIT-PROP, across its entire fleet. The innovative coating has been developed by Canadian company GIT Coatings, which notes that it has demonstrated the potential to enhance vessel performance by up to 4%, making it a highly effective solution to improve CII and RightShip GHG ratings.

Following successful application and obtaining...

https://www.marinelog.com/technology/pacific-basin-to-apply-graphene-based-propeller-coatings-on-40-ships/

Saia’s Q1 miss, weak March shipments send shares 20% lower

Shares of less-than-truckload carriers were priced for beat-and-raise results heading into earnings season. Saia missed first-quarter expectations Friday, sending its stock 20% lower and pulling the rest of its peer group down for a second time in a week.

Saia (NASDAQ: SAIA) said March didn’t provide the seasonal demand uptick the company normally experiences. The update followed an in-line report from Old Dominion Freight Line (NASDAQ: ODFL) on Wednesday, which accelerated a sell-off that...

https://www.freightwaves.com/news/saias-q1-miss-light-march-shipments-send-shares-20-lower

TFI’s US LTL operations need heavier shipments, CEO says of Q1 results

Some key statistics at the U.S. LTL operations of TFI International remain a cause for concern at the Canada-based trucking conglomerate, and CEO Alain Bedard did not hold back discussing those issues on the company’s first-quarter earnings call.

The core of the U.S. LTL activities at TFI (NYSE: TFII) is known as TForce, and its roots are in the TFI acquisition of UPS’ LTL operations, UPS Freight, in 2021.

LTL discussions often turn to revenue per hundredweight, or yield, in analyzing how a...

https://www.freightwaves.com/news/tfis-us-ltl-operations-need-heavier-shipments-ceo-says-of-q1-results

FHWA awards $148M in grants to fight pollution from trucks at US ports

The Federal Highway Administration has announced $148 million in grants to combat pollution at the nation’s ports caused by idling trucks.

The funding is part of a $400 million program to improve air quality under the Bipartisan Infrastructure Law. The first round of grants provides funding to 11 states and Puerto Rico under the Reduction of Truck Emissions at Port Facilities Grant Program.

Communities located close to ports “feel the brunt of more polluted air” because of idling trucks spewing...

https://www.freightwaves.com/news/fhwa-awards-148m-in-grants-to-fight-pollution-from-trucks-at-us-ports

Xeneta finds supply chain diversions fuel spike in carbon emissions

New data from Xeneta reveals an eye-popping increase in emissions as a result of the Red Sea diversion. 

The Xeneta and Marine Benchmark Carbon Emissions Index (CEI) shows carbon emissions increased by 63% in Q1 2024 compared to Q4 2023 with regard to containers being shipped via ocean from the Far East to the Mediterranean. From the Far East into Northern Europe, carbon emissions increased by 23%. The index hit 107.4 points in Q1 2024 — the highest it has been since the index began in Q1 2018.

Th...

https://www.freightwaves.com/news/xeneta-finds-supply-chain-diversions-fuel-spike-in-carbon-emissions

Really cold hydrogen could bring driving range parity with diesel

The time it takes to fuel a hydrogen-powered fuel cell truck is already on par with diesel. But there is still a yawning gap when it comes to comparable driving range. A new hydrogen storage system that packs more energy density might change that.

The goal of hydrogen and battery-electric trucks is to reduce the 12% of greenhouse gas emissions attributed to heavy-duty trucking.

Chill out: Verne goes deep into minus celsius for cryo-compression

San Francisco-based startup Verne is named after 19th...

https://www.freightwaves.com/news/really-cold-hydrogen-could-bring-driving-range-parity-with-diesel

Port roundup: Strong annual growth across the board

The Lunar New Year has come and gone, but its impact at U.S. ports has been felt for weeks after the holiday.. Even with the impacts of the Lunar New Year arising at ports across the country in the form of sequential declines in imports, port figures across the board are holding up compared to the previous year.

Across the ports, Lunar New Year’s arrival about two weeks later than in 2023 is causing the sequential dip in volumes.

The Port of Los Angeles led the West Coast ports higher on an...

https://www.freightwaves.com/news/port-roundup-strong-annual-growth-across-the-board

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