News

Coyote offers ‘voluntary separation’ program to high-level employees

Freight broker Coyote Logistics is looking to again reduce its workforce as it struggles with a dramatic freight downturn that has squeezed revenue across the brokerage sector.

The staff reductions are expected to target those in senior manager and director roles, according to a person familiar with the matter. Affected employees will have the opportunity to accept a severance and leave voluntarily, the person said.

In a statement, Chicago-based Coyote said that to “support current optimization...

https://www.freightwaves.com/news/coyote-offers-voluntary-separation-program-to-high-level-employees

Organizational changes at Seadrill

As previously announced, offshore driller Seadrill Limited (NYSE & OSE: SDRL) has decided to close its London, England, office and consolidate its corporate office in Houston. Someone who won’t be making the move is Seadrill’s executive vice president and chief operating & technology officer, Leif Nelson, who instead will be departing the company.

In connection with Nelson’s departure, Seadrill has promoted Marcel Wieggers to senior vice president – operations, reporting directly to president...

https://www.marinelog.com/offshore/oil-gas/organizational-changes-at-seadrill/

State of Freight: Strong volume, stuck OTRI and caution for shippers in ’24

A freight market in which demand remains healthy and truckload rates remain stuck in a relatively narrow range showing little ability to break out to a higher level was the focus of FreightWaves’ final State of Freight webinar for 2023.

Zach Strickland, FreightWaves’ director of freight market intelligence, kicked things off in his discussion with FreightWaves CEO Craig Fuller on Thursday by noting something that might be missed in a market of spot truckload rates that seem stuck near a bottom:...

https://www.freightwaves.com/news/state-of-freight-strong-volume-stuck-otri-and-caution-for-shippers-in-24

Intersection of tech and fraud: Brokers, carriers must work together to secure supply chain

The introduction of tech-enabled solutions has made the transportation industry more efficient and effective at moving and tracking freight. However, the widespread adoption of digital solutions has also created opportunities for scammers across the supply chain. 

Challenging economic conditions have only escalated fraudulent activities as criminals continue to find ways to exploit vulnerabilities. In fact, CargoNet’s third quarter 2023 report shows an increase across all types of cargo theft,...

https://www.freightwaves.com/news/intersection-of-tech-and-fraud-brokers-carriers-must-work-together-to-secure-supply-chain

Freight cycle bottom continues to form in November

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Freight shipments and expenditures dipped further in November, according to data compiled in the...

https://www.freightwaves.com/news/freight-cycle-bottom-continues-to-form-in-november

Wabtec joins rail telematics market

Pittsburgh-headquartered Wabtec has signed an agreement with Dutch company Intermodal Telematics to produce telematics technology for rail cars.

Wabtec, a rail technology provider, says the product could be ready in the first quarter of 2024. Wabtec (NYSE: WAB) will use Intermodal Telematics’ technology to create the rail car telematics offering.

The telematics technology enables rail car owners and operators to access real-time data to see the location and status of individual rail cars and...

https://www.freightwaves.com/news/wabtec-joins-rail-telematics-market

Vodafone, Sumitomo Corporation, Deloitte and Nexxiot cooperate to support autonomous freight handling and trade compliance

Pairpoint (Vodafone and Sumitomo Corporation’s Economy of Things business), Deloitte, and Nexxiot have joined forces to offer digital services that speed up the flow of goods worldwide.

The new service will automatically verify the provenance of data on the movement and content of cargo, allowing companies to improve freight handling whilst complying with trade laws. This will lead to faster customs and port authority clearance, and expedite the digital transformation of the logistics sector.

The...

https://container-news.com/vodafone-sumitomo-corporation-deloitte-and-nexxiot-cooperate-to-support-autonomous-freight-handling-and-trade-compliance/

Loaded and Rolling: RXO: Too much trucking capacity heading into 2024

RXO: Too much trucking capacity heading into 2024

(Video source: FreightWaves)

On Wednesday, FreightWaves hosted the Domestic Supply Chain Summit, a virtual event with RXO Chief Strategy Officer Jared Weisfeld as the keynote speaker. The interview, conducted by enterprise trucking carrier expert Thomas Wasson, included an outlook for 2024 and highlighted the biggest supply chain challenges and opportunities. RXO is the freight brokerage that was spun off from LTL carrier XPO last year.

Excess...

https://www.freightwaves.com/news/loaded-and-rolling-rxo-too-much-trucking-capacity-heading-into-2024

Brunvoll Mar-El will deliver onshore charging system for new Fjord1 fast ferries

Brunvoll Group subsidiary Brunvoll Mar-El will deliver the onshore charging system for the three fast ferries that Fjord 1 will operate on city routes in the Bergen, Norway, region under a 15-year contract from Vestland County Council that runs from 2025-2040.

Brunvoll Mar-El had earlier been contracted to deliver the electrical and hybrid system integration for the three ferries (see earlier story) and, with this latest contract, becomes both the onboard and onshore system integrator for the...

https://www.marinelog.com/passenger/ferries/brunvoll-mar-el-will-deliver-onshore-charging-system-for-new-fjord1-fast-ferries/

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