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2 weeks ago | 
freightwaves.com | Todd Maiden
According to monthly data from Cass Information Systems, freight shipments declined again in May and underperformed normal seasonal trends. However, carriers successfully advanced pricing initiatives as trade tensions appear to be easing. Cass’ multimodal shipments index dipped 0.4% from April to May (down 3.4% seasonally adjusted) and was 4% lower than the same month last year. The dataset has been underwater on a year-over-year comparison for 28 straight months.
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2 weeks ago | 
freightwaves.com | Todd Maiden
Forward Air announced Thursday that Chairman George Mayes has resigned following the company’s annual shareholder meeting. Per the less-than-truckload provider’s corporate governance guidelines, board members not receiving at least 50.1% of shareholder support are required to step down.
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2 weeks ago | 
freightwaves.com | Todd Maiden
Intermodal carriers sounded a little more upbeat than they were just a few weeks ago at an investor conference held in Chicago on Tuesday. Management from Schneider National (NYSE: SNDR) said its “feeling a bit more optimistic” than it was on its first-quarter call held on May 1. The multimodal provider said at the 2025 Wells Fargo Industrials & Materials Conference on Tuesday that the worst-case scenarios previously contemplated at the onset of the trade war now appear unlikely.
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2 weeks ago | 
freightwaves.com | Todd Maiden
ArcBest has seen metrics flip through the first two months of the second quarter with tonnage returning to growth as yields lag. Easy volume comps after nearly two years of declines and heavier usage of a dynamic pricing tool were the catalysts.
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3 weeks ago | 
freightwaves.com | Todd Maiden
After 22 months of consecutive tonnage increases following Yellow Corp.’s shutdown, less-than-truckload carrier Saia reported a modest decline in volume during May. Saia (NASDAQ: SAIA) announced Thursday that tonnage per day dipped 0.4% year over year in May following a 4.4% increase in April (and a 12.8% increase in the first quarter). The May decline was the combination of a 3.2% drop in shipments, which was largely offset by a 3% increase in weight per shipment.
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3 weeks ago | 
freightwaves.com | Todd Maiden
Supply chain software provider Descartes announced Wednesday that it is cutting its workforce by 7%, or roughly 200 people. The action is in response to “uncertain times for customers” as a rapidly changing trade landscape weighs on the freight industry. “This is a challenging and uncertain economic and trade environment for shippers, carriers and logistics services providers,” CEO Ed Ryan said in a news release announcing fiscal first-quarter results.
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3 weeks ago | 
freightwaves.com | Todd Maiden
Less-than-truckload carrier XPO announced Wednesday a continuation of modest volume declines during May as the industry awaits an inflection in demand. The Greenwich, Connecticut-based company said tonnage per day was down 5.7% year over year during the month – the combination of a 5% decline in shipments and a 0.7% decline in weight per shipment. The update was in line with the company’s prior guidance calling for a tonnage decline similar to what it experienced in April (down 5.5% y/y).
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3 weeks ago | 
freightwaves.com | Todd Maiden
Less-than-truckload carrier Old Dominion Freight Line saw “continued softness” in May as revenue per day fell 5.8% year over year. Lower volumes were again only partially offset by higher yields. The trend is a continuation from what was experienced in April and during the first quarter. Old Dominion (NASDAQ: ODFL) reported an 8.4% y/y decline in tonnage per day during May as shipments fell 6.8% and weight per shipment was down 1.9%.
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3 weeks ago | 
freightwaves.com | Todd Maiden
Transportation metrics saw little change in May as capacity, utilization and pricing remained in expansion territory, according to a monthly survey of supply chain professionals. The Logistics Managers’ Index – a diffusion index in which a reading above 50 indicates expansion while one below 50 signals contraction – had a 54.7 reading for transportation capacity during May, which was roughly in line with April.
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3 weeks ago | 
freightwaves.com | Todd Maiden
In a motion before a federal bankruptcy court in Delaware, defunct less-than-truckload carrier Yellow Corp.’s estate is seeking to sell four terminals valued at $6.8 million. The owned properties include a 68-door terminal in Knoxville, Tennessee, valued at $2.6 million, a 46-door facility in Southington, Connecticut ($2.8 million), a 31-door terminal near Baton Rouge, Louisiana ($1.2 million), and a 12-door location in Tupelo, Mississippi ($285,000).
