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The most important news on FreightWaves in your opinion

Methodology — Earlier this week, I sat down with FreightWaves’ editorial team to find out what stories FreightWaves readers are reading the most. Based on more than 34 million hits on the site this year, some very clear themes have emerged.

I then conducted a survey to find out what my audience of readers and listeners in all areas of logistics (approximately 150,000 subscribers/followers across platforms) thought. Here are the top stories of 2024 so far.

Infinite freight stagnation/carrier bankruptcies

In all the social media surveys we conducted, this ruthless freight market received more than half of the votes. Also five of the top 10 news FreightWaves.com It was about bankruptcy.

“Carrier Details Total Trucking Authorizations are down 10,460 since the beginning of the year, but are trending higher due to the time it takes to revoke an authority” – Tony Mulvey of Freightonomics

While we haven’t experienced a shocking shutdown of the magnitude of Yellow like we experienced in 2023, the sheer volume of shutdowns has damaged both the finances and psychology of the industry… and unfortunately it hasn’t hit big enough. capable of closing the gap.

“This has been the longest and most serious downturn in the transportation market in the modern era. The recessive environment appears to be decreasing, but at an incredibly slow rate. The market rarely turns quietly. – Zach Strickland from Freightonomics

Some of the most read closures were:

Midwest Transportation Inc. – “An Illinois-based trucking and logistics company that contracts with the U.S. Postal Service to transport mail has notified more than 650 of its employees, including more than 480 drivers, that the carrier is ceasing operations, according to sources with knowledge of the closure.

Tony’s Express – “According to the Federal Motor Carrier Safety Administration’s SAFER website, Tony’s Express, a former family-owned company headquartered in Fontana, had 87 drivers and 42 power units at the time of its closure. The company had about 10 line haul drivers who were also business owners.”

US Logistics Solutions – “About 2,000 truck drivers, warehouse and dock workers and office staff at Humble, Texas-based US Logistics Solutions (USLS), formerly Forward Air Solutions, say they were blindsided when they were notified via conference calls or text message late Thursday. “He said that the company has stopped its operations and they will not be paid on Friday.”

“In September 2024, 237 freight forwarders were inactive, reducing the total number of active freight forwarders to 25,979. “Year-over-year, the number of freight forwarders is down -11.8% and -16.7% from two years ago.” – Brush Pass Research Kevin Hill

Carriers weren’t the only ones getting crushed in the market. There are 11.8% fewer freight forwarders than a year ago, according to data from Kevin Hill of Brush Pass Research.

Ask the author – Since bankruptcies are Clarissa Hawes’ agenda, she has covered nearly every one of these important stories for FreightWaves. I asked him what he noticed this year compared to others. Here’s what he had to say:

“We have seen many medium and small trucking companies file for bankruptcy in 2024. Some private freight carriers have managed to survive this brutal freight recession, while some dry trucking companies have filed for bankruptcy liquidation. spot rates are too low.”

Other important stories?

Hurricane Helene – The devastating generation-spanning storm that claimed more than 200 lives and wiped out major truck corridors like I-26 and I-40 took a hit from readers. They were interested in both market impact and how the logistics industry is progressing provide assistance.

Baltimore bridge collapsed – In March, the MV Dali, a 984-foot container ship, crashed into Baltimore’s Francis Scott Key Bridge, killing six construction workers and shutting down a major trade route. While the cleanup is still ongoing, Dali’s owners agreed to pay Cleanup cost $102 million.

red sea conflict – The Red Sea conflict and Houthi attacks have been continuing since last November. A new study reports“Houthi rebels are extorting shipping lines of up to $2 billion a year in exchange for not attacking their shipping in the Red Sea and Gulf of Aden.”

These attacks changed the course of global trade as shippers and carriers opted to go around the Cape of Good Hope in Africa. This diversion adds 10-14 days to transit time and burns significantly more fuel.

ShippingWaves

Fast trailer fire – Last year “TQL Pay Me My $8,000“trailer. We had a Swift trailer fire this year. Accordingly ShippingWaves“Prosecutors say Michigan truck driver Viorel Pricop set fire to Swift Transport trailers after the company helped law enforcement bring federal charges against him.”

Which is your choice as the story of the year? Email me your answer. Also, what do you think the story of 2025 will be like? My first leader should be Trump and tariffs.

Founder and CEO of FreightWaves, WHAT A TRUCK?!? announced his bid for DOT secretary for

X

The rise of the rest – Open Wednesday’s episode What THE TRUCK?!?, CEO and founder of FreightWaves Craig Fuller threw his hat in the ring For the position of secretary of the Ministry of Transport. Given the enormous influence of memes and podcasts on this election, who can blame him for making my announcement? Full disclosure, Vice Chairman-elect J.D. Vance was an early investor in FreightWaves.

While Trump is in, Pete Buttigieg is definitely out. Fuller now wants to jump into his grave while the ground is still hot.

X

Fuller says: “Transport policy will be deeply affected and will need to be front and center in the restructuring of the global supply chain. … We need people driving this who understand how the changes will impact the shipping economy.”

X

Room he tweeted An early look at some of their platforms, which include pursuing major shipping companies’ control of maritime trade.

X

Now that Fuller has the podcast out of the way, he’s calling on memers to help him get to the final stage of the process. He tweeted, “Serious people in the transportation industry – we need to give a shout out to DOT. What did you find?” Submit your best memes Here.

WHAT TRUCK on Friday?!?

Amazon’s top toy seller says it all: Molson Hart – On Friday, What THE TRUCK?!? Joining me on the livestream is Molson Hart, Amazon’s top toy seller. We’re talking peak season shipping; Selling on Amazon; and features Tucker Carlson; and we’ll learn how the International Harbormen’s Association’s harbor raid nearly killed him.

Reliance Partners’ Thom Albrecht speaks with some clarity in the wake of the election. Now that we know who won, how will shipping proceed? We will learn Albrecht’s 2025 freight and capacity outlook after the election.

Plus the latest headlines, trends and viral oddities since our last show.

Watch new shows live on Mondays, Wednesdays and Fridays at noon EDT on FreightWaves LinkedIn, Facebook, X or YouTubeor upon request WHAT IS A TRUCK?!? On your favorite podcast player and at 5pm Eastern on SiriusXM’s Road Dog Trucking Channel 146.

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Stars and stripes – WTT + red, white and blue means new you. Go to: WTTGear.com to get our newest products! Use code WTTFans for 10% off.

Driver shortage controversy in F3

As I wrote last week, FreightWaves’ Craig Fuller challenged The Owner-Operator Independent Drivers Association and the American Trucking Associations will discuss the issue of driver shortages at our annual F3 conference in November.

Despite the hefty prize money given to the charity of the winner’s choice, ATA pulled Kamala Harris on Joe Rogan: He won’t show up.

That’s okay though. Instead we’ll see OOIDA’s Lewie Pugh take on Clarendon Capital’s John Larkin on the subject.

But wait, there’s more. I was added to the session as a special guest referee responsible for maintaining order during the oral conversation.

What are my qualifications you may ask? I have 14 years of operations, sales and marketing experience from the other side of the table in the field of logistics. I also have seven years of experience following this industry in the media. In high school, I was a threat in the Lincoln-Douglas debate.

I’m currently reading the autobiography of wrestling legend and former WWE referee Earl Hebner.

Get your tickets to F3, the logistics event of the year, right here. (This is my discount link.)

Now optional

Will President Trump make transportation great again? (starring Craig Fuller)

Election eve; Drivers surveyed in HOS; Is supply chain AI overrated?

Thanks for reading and feel free to forward this to a friend.

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Or just WHAT IS A TRUCK?!? See the topic. on your favorite podcast player. Or if you have SiriusXM, watch the show on Road Dog Trucking Channel 146 on Mondays, Wednesdays and Fridays at 5pm Eastern.

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