Stay Up to Date on the LTL Industry
Less than truckload (LTL) refers to shipping services for relatively small loads of freight (typically between 150 and 15,000 pounds). One of the main benefits of the LTL industry is cost efficiency. LTL trucking allows shippers to combine several loads going to the same facility into one truck, creating economies of scale, with each shipper only paying for the space they use. On the flip side, LTL shipping can take longer to plan and organize. Shipments may also take longer since the truck has to be filled before it leaves and may have to make multiple stops or transfers on the way to a given destination .
The explosion in online shopping sparked by the pandemic has made a marked impact on the LTL industry. As online shopping grows, demand for LTL trucking has increased significantly, putting stress on an already-burdened industry. To better understand the state of the LTL industry, we teamed up with BlueGrace Logistics to survey shippers about their approaches to LTL trucking in today’s environment.
Download our report to learn more: Evolution of LTL
Since the closure of the third-largest LTL carrier, Averitt Express has seen an influx of 2,000 daily shipments — and hasn’t missed a beat.
Yellow Corp. told a judge Thursday that it has selected bankruptcy financing lenders and that Estes Express Lines has entered a $1.3 billion stalking horse bid for its terminals.
Apollo Global Management sold a $485 million loan to Yellow Corp. and has withdrawn its proposal for bankruptcy financing.
Less-than-truckload carrier Saia sees freight surge in the first two weeks of August.
An attorney for Yellow Corp. said Friday he’s hopeful to have in place by early next week a bankruptcy financing deal superior to what the company was previously offered.
Yellow said employees who expected their paychecks Thursday would receive them Friday. However, it remains unclear when workers will receive pay for accrued vacation days.
Forward Air announced Thursday it will merge with asset-light logistics peer Omni Logistics.
Yellow Corp. may get better terms on a bankruptcy loan than it had going into the Sunday filing.
Yellow Corp. released second-quarter financials Wednesday following a bankruptcy petition earlier in the week.
Less-than-truckload carrier CrossCountry Freight Solutions announced Tuesday it has closed on the acquisition of Express 2000 Transportation.
Yellow’s bankruptcy filing suggests that secured creditors are likely to be paid in full.
Less-than-truckload carrier Yellow Corp. on Sunday filed for bankruptcy, putting to end the 99-year-old trucking firm.
Less-than-truckload carrier XPO said it would add capacity to meet the increased demand created by Yellow’s departure.
Less-than-truckload carrier XPO saw shipments and tonnage surge in July as a competitor shut down.
Less-than-truckload provider Forward Air missed second-quarter earnings expectations but management noted it’s seeing a lift from Yellow’s shutdown.
A Yellow employee has filed a class-action lawsuit over the company’s failure to provide advance notices of mass layoffs.
Employees at Yellow Logistics were terminated Tuesday.
Less-than-truckload carrier Yellow Corp. is reported to be close to a deal with one of its current lenders to obtain debtor-in-possession financing to facilitate a bankruptcy.
Yellow’s demise is a “huge benefit for our industry,” TFI International CEO Bedard says.
Volume declines ate into TFI International’s revenue in the second quarter.
Less-than-truckload carrier Yellow Corp. closed the gates Sunday and ceased all operations.
The Teamsters union said late Sunday it received a legal notice that Yellow Corp. will be filing bankruptcy.
Less-than-truckload carrier Yellow Corp. closed its gates at 12 p.m. Sunday.
On an earnings call with analysts, Saia’s CEO and CFO tried to address the pending collapse of Yellow without mentioning the company’s name.
Yellow told nonunion employees that all locations are shutting down or seeing layoffs. The trucking company said regular operations cease Friday.
Saia’s second-quarter earnings show a decline in volume but by a relatively small amount.
ArcBest reported an earnings miss Friday but that may not matter as its less-than-truckload unit is quickly taking on volume as a competitor winds down.
On Thursday, Yellow Corp. said it is seeking a buyer for its logistics business and the union said negotiations have been fruitless.
Even truckload companies are being asked how a Yellow collapse might benefit them; Covenant had an answer on its second-quarter earnings call.
At least two Yellow teams were given a prepared statement that “the company continues to prepare for a range of contingencies.”
Industry watchers believe a Yellow bankruptcy is inevitable. Some of the company’s 30,000 employees are starting to feel nervous too.
Old Dominion reported what will likely be best-in-class results for the second quarter and said recent turmoil at competitor Yellow Corp. hasn’t altered its strategy any.
A letter from the Teamsters negotiating committee on Tuesday showed it has been unable to come to terms with less-than-truckload carrier Yellow Corp.
“As a result of these unfortunate circumstances and the impact on the network, we are limiting pick-up operations in all terminals,” the memo states.
Stock analysts size up less-than-truckload market dynamics following weeks of turmoil at carrier Yellow Corp.
Central States extends health insurance coverage for Teamsters employees, averting a planned Monday strike at less-than-truckload carrier Yellow Corp.
A Kansas judge on Friday denied Yellow Corp.’s request to halt a strike by the Teamsters, which the company says will force it into bankruptcy.
Some 30,000 Yellow employees may find themselves unemployed. Yellow truck drivers said they’ll likely find work at nonunion shops.
A U.S. district court in Kansas may ultimately determine Yellow’s fate on Friday.
As less-than-truckload carrier Yellow Corp. faces a potential work stoppage by its largely union workforce, an action that would likely force it to close its doors, we take a look back at some of the top stories in the past year.
FreightWaves’ State of Freight for July focused on a potential Yellow shutdown and a looming strike at UPS.
LTL contract rates and tender rejections in select markets will tell us if transportation networks can handle a sudden Yellow exit.
Less-than-truckload carrier Yellow Corp. says it’s the union’s fault for its cash-strapped predicament.
Less-than-truckload carrier XPO said its chief financial officer is leaving and that it has filled the role internally.
Truck broker Uber Freight said Wednesday it has decided to stop placing loads with Yellow Corp. as the carrier faces a potential worker strike.
Teamsters issued a strike notice at Yellow shortly after the carrier said it would defer two months of required benefits contributions.
In a statement Tuesday evening, Yellow Corp. said it would defer health and pension contributions as planned.
A strike is looming at Yellow — and it could finally be the end for the long-troubled trucking company.
Brokers say some shippers are steering clear of the troubled trucking carrier. Other customers are flocking to Yellow.
Documents revealed late Monday show Yellow Corp. has missed required contributions for June and plans to withhold July payments.
While carriers are usually responsible for paying for claims, claim disputes burden freight brokers with more work — and they might end up footing the bill due to coverage gaps. Reliance Partners can help.
Some truck drivers at Yellow are worried about their retirement plans. Others fear their jobs may be eliminated in the coming months.
A collective bargaining agreement between TForce Freight and the Teamsters comes 18 days before the current contract expires.
The Digital LTL Council’s API road map will cover the freight data stream from “quote to cash.”
Canada and Mexico are seeing tremendous growth as a result of nearshoring efforts. This has generated significant interest in cross-border capabilities.
Yellow has reached a waiver deal with a group of lenders that will give it some breathing room as it seeks to right its sinking ship.
Earnings estimates for truckload and less-than-truckload carriers get a notable negative revision at Morgan Stanley.
Trucking giant Yellow said it may run out of money sometime this month.
Less-than-truckload carrier ABF Freight announced a new five-year collective bargaining agreement has been ratified by its union employees.
Yellow Corp. sent a letter to the White House on Thursday seeking assistance in negotiating with the Teamsters.
Yellow has suffered from financial mediocrity that has led to the inevitable outcome.
Some Wall Street analysts weigh in on which less-than-truckload carriers would most likely pick up the slack if Yellow shuts down.
XPO’s Miami-area facility had a contract between the Teamsters and the company, but the union has been voted out.
Shares of Yellow Corp. plummeted Tuesday as a lawsuit against Teamsters revealed the company’s options are dwindling and it will be out of cash in a few weeks.
The National Motor Freight Traffic Association said less-than-truckload industry participants are seeing benefits from using electronic bills of lading.
XPO announced the completion of a capacity expansion project in the Western part of its network.
Less-than-truckload carrier Yellow Corp. has asked pension and health and welfare fund plan administrators for a two-month extension.
Roadrunner has announced more long-haul, direct service lanes.
About $2.3 trillion was spent to keep the nation’s logistics system operating in 2022, according to the 34th State of Logistics Report.
Pennsylvania’s governor says Interstate 95 in northeast Philadelphia will reopen to traffic in two weeks, far sooner than anticipated.
ABF Freight has outlined the details of its new labor agreement with its union employees.
Yellow wants to make massive changes in its operations. Teamsters is blocking them – even though the trucking company could shutter.
The latest exchange between the Teamsters union and Yellow Corp. suggests the carrier is running out of time and money.
Less-than-truckload carrier Yellow reported another large drop in volumes Friday after the market closed.
ArcBest holds on to tonnage growth in the April-May period but yields take a notable step lower.
Outgoing Old Dominion CEO Greg Gantt made his final appearance at the UBS conference and looked back on the company’s road to the top of the heap.ODFL
ArcBest announced Thursday that its chief yield officer is stepping down and will be replaced internally.
Less-than-truckload carrier ABF Freight announced Wednesday that it reached a tentative labor agreement with the Teamsters.
Less-than-truckload provider Forward Air said Tuesday that demand momentum has improved as the second quarter has progressed.
Yellow and the Teamsters appear to be moving further apart on reaching a deal anytime soon.
Less-than-truckload carrier Old Dominion reported no seasonal inflection in volumes during May but continued to push yields higher.
Northeast LTL carrier A. Duie Pyle has been growing but is hewing primarily to its existing geographic base.
Less-than-truckload carrier Saia reported second-quarter volume metrics on Friday that imply a high-single-digit sequential increase in tonnage from the first quarter.
RIST Transport acquired less-than-truckload peer AMA Transportation in a deal that creates a major regional player in the Northeast, according to an industry insider.
The Teamsters union has authorized a strike at ABF Freight.
Roadrunner has reduced transit times five times over the last 21 months, according to Roadrunner Vice President of Longhaul Operations Shari Leon.
Roadrunner announced Wednesday further enhancements in many of the less-than-truckload lanes it operates.
Less-than-truckload carrier Yellow Corp. sees its credit ratings fall further as it attempts to hash out a deal with the Teamsters.
AskWaves looks at how cross-border LTL demand may change as supply chain maps are redrawn.
Less-than-truckload carrier XPO reported better-than-expected first-quarter results and said it remains on track to achieve long-term profitability targets.
Less-than-truckload carrier Yellow Corp. recorded a net loss during the first quarter as it attempts to overhaul its network.
Forward Air noted some optimism in its lowered outlook on Tuesday, saying recent customer conversations have been promising.
Company also announces another round of driver furloughs.
TFI International bolsters its North American LTL presence with two tuck-in acquisitions.
Saia’s revenue trends in April are much better than its less-than-truckload peers.
ArcBest on Friday stood by its strategy to take on lower-margin business.
TFI International reported first-quarter revenue declines in all four main operating segments.
Old Dominion said Wednesday that volumes have stagnated and some of its customers are pushing back on pricing.
Yellow Corp. has approved the Teamsters’ selection to the company’s board of directors.
Yellow confirms that it has asked the Teamsters to open up the National Master Freight Agreement a year early as talks around proposed network changes have stalled.
