Quick Transport Solutions Inc.

15 Feb 2019 at 8:00pm

Amazon Protests outside potential headquarters HQ2 building in LIC New York. (PHOTO: SHUTTERSTOCK)

There were only ever two good reasons for Amazon to build a headquarters in greater New York City: access to talent and $3 billion in incentives to make up for the enormous amount of local and state taxes it and its 25,000 employees would have paid.

However, the high cost of doing business in New York ? whether due to inflexible work rules, pressure from union bosses or burdensome taxes ? isn?t a factor anymore, now that Amazon has wisely backed out.

Instead, the company is expected to expand its plans to add workers in Georgia, Tennessee  and Virginia, states that in recent years have benefitted handsomely as businesses flee more intrusive state and local governments to the north and far west.

The lower cost of living and working in the Southeast ? whether due to a lower regulatory burden, cheaper cost of doing business or just plain old lower taxes ? has been cited again and again as a key attractor of both businesses and the talented workers on whom they depend.

Amazon Protests outside potential headquarters HQ2 building in LIC New York. (PHOTO: SHUTTERSTOCK)

Right-to-work states like Alabama, Georgia, South Carolina and Tennessee have all seen an influx of both heavy industry as well as innovative startups, building both the tax base and the talent pool. Tennessee doesn?t even have an income tax.

Expansion plans for Tennessee already called for Amazon to bring an additional 5,000 jobs to the Nashville area, with an average salary of $150,000 per year. This boosts consumer spending and retail activity in the area, and also provides a jolt to the Nashville government?s tax base, very different from the jolt many New Yorkers must be feeling right now, said FreightWaves economist Ibrahiim Bayaan.

?The benefits of an Amazon expansion for local communities come from the jobs that Amazon creates, as well as the investment and construction of new structures,? Bayaan said. ?The incremental taxes collected from these additional workers alone are projected to generate $1 billion over the next 10 years.?

If, instead of 5,000 workers in Nashville, Amazon added the same 25,000 workers that New York just spurned, tax revenues could climb to $5 billion in a decade, easily eclipsing the $1.5 billion in tax rebates New York had promised.

Amazon Protests outside potential headquarters HQ2 building in LIC New York (PHOTO: SHUTTERSTOCK)

Try getting anything approaching that level of return on your money on Wall Street.

But new business creates value for a community beyond tax revenue.

Amazon has committed to investing $230 million in the Nashville area, and plans on building one million square feet of new office space, further boosting the local economy.

The influx of employees will spur residential construction activity in the local economy, which creates jobs up and down the line.

Workers have to eat, which helps feed restaurant activity. They buy new cars, which helps fuel auto dealerships. Their children need diapers, baby food, day care, bicycles and school supplies. Some workers will hire gardeners or nannies, and their kids will play sports, or play in a band.

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And behind the economic impact, there?s the cultural impact of bringing thousands of intelligent, innovative workers to town. Some will leave Amazon and start their own businesses, or bring their expertise to a business that already exists, which will further benefit the local economy by making it more competitive.

There are politicians who decry this idea as ?trickle-down economics.? They say that the promised benefits of such public-private partnerships never materialize. They contend that government should take as much as it can get to fuel its social programs rather than wait for the rising tide to lift all ships.

It?s a fair point. In business, you aren?t guaranteed anything. A lot can change in 10 years, just ask the newspaper industry, or GE or Blackberry.  

Every new product or service comes with a risk of utter and complete failure. The last decade is filled with stories of such failures, from Solyndra to Tesla, in which lavish government incentives never generated the promised jobs.

Yet if you ask the average Chattanooga resident if they are better or worse off with the arrival of a $1 billion Volkswagen plant, which was heavily incentivized at the state and local level, you would be hard-pressed to find a naysayer. Try the same in Spartanburg with BMW, Charleston with Boeing, Tuscaloosa with Mercedes, or Kia in West Point, Georgia.

In New York, there were some who worried about the availability of housing, that New York could turn into another San Francisco with housing values so high that no one could actually afford to live there. They worried about parking, crowded schools and streets. They wondered if  neighborhoods would lose their character.

All of that could certainly happen, though most of those problems stem not from businesses, but from bad zoning laws and restrictive construction rules. And if open parking spaces and cheap housing is a big concern, there?s always Detroit, Flint or East St. Louis.

Luckily for the Freight Alley corridor, the majority of our politicians are willing to stipulate that the best way out of poverty is a job, and that the availability of plenty of jobs is the best way to promote prosperity.

And the longer that New York politicians continue to play hooky during their Econ 101 classes, the better.

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15 Feb 2019 at 7:00pm

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Episode Summary:

What the Truck is going on in all things freight this week?

Redwood Logistics is one of the nation?s fastest growing logistics providers, fueled by industry-leading technology and a passionate team of experts. From Multimodal Brokerage and dedicated truckload to 3rd party logistics and TMS consulting, implementation and integration? Redwood Logistics delivers next-generation solutions for its clients?and much more than a truckload.

Chad is visited by two special guests for this week?s episode, market experts Zach Strickland and Michael Crosby.

Weekly Market Update: What is happening from a carrier?s perspective, and what is happening from a shipper?s perspective? We?ve got the yen and the yang.

And then on to the other big headlines of the week:

Chicago-based brokerage K+L Freight launches subsidiary to focus on Trucking Freight Futures

Barry Bannister, Stifel's prophet of doom

Key takeaways from Stifel?s private equity and venture capital panel

LTL carrier New England Motor Freight to shut down after filing for bankruptcy protection

Self-driving truck startup TuSimple raises $95 million, breaks ?unicorn? barrier

Big deal, little deal (what?s the deal with you)?

Norfolk Southern lays tracks for cost cuts, service improvements with 2021 strategic plan

J.P. Morgan Executive Director to lead Trucking Freight Futures for FreightWaves

Maersk begins inland water services across river Ganges in India

Expanding customs brokerage business is a global initiative says Maersk

Franchising your mailbox might put the USPS out of business

Truck stop owners feeling the high-tech heat

Oregon aims to create an export market for marijuana

Meal and rest break fight continues as California, Teamsters ask 9th Circuit Court to overturn FMCSA decision

About the show:

What the Truck?!? is FreightWaves' irreverent podcast breaking down the biggest stories in transportation and logistics. Join FreightWaves writers John Paul Hampstead and Chad Prevost on Friday afternoons as we discuss all things freight.

15 Feb 2019 at 6:30pm


Dana Inc. (NYSE: DAN) beat Wall Street?s consensus revenue expectations of $1.91 billion for the fourth quarter of 2018. Quarterly sales increased 7 percent year-over-year (Y/Y) from $1.837 billion to $1.973 billion. Dana beat consensus revenue estimates by 3 percent, or $60 million, according to Seeking Alpha.

Dana, based in Maumee, Ohio, is a supplier of axles, drive shafts, sealing products, thermal-management technologies and universal joints. The company has nearly 100 engineering, manufacturing and distribution facilities in 34 countries.

Dana also beat Wall Street?s consensus expectations for fourth quarter non-GAAP earnings per share (EPS) of $0.65 by 9 percent. Quarterly non-GAAP diluted adjusted EPS increased 14 percent Y/Y from $0.62 to $0.71. Dana also beat quarterly consensus estimates of GAAP diluted EPS of $0.67 by nearly 3 percent. Quarterly GAAP diluted EPS increased 193 percent Y/Y from a loss of $0.74 per share to a profit of $0.69 per share.

Net income for the quarter increased 196 percent Y/Y, or $204 million, from a loss of $104 million to an income of $100 million. Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) for the quarter increased 13 percent or $26 million, from $197 million to $223 million. Free cash flow for the quarter increased over 372 percent Y/Y, or $190 million, from $51 million to $241 million.

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Q4 Production


Light vehicle segment sales for the quarter increased by nearly 9 percent Y/Y. Commercial vehicle segment sales increased by 10 percent Y/Y. Off-highway segment sales increased by over 6 percent Y/Y. Power technology segment sales decreased by nearly 0.8 percent Y/Y.

2018 Full-Year

The company experienced record financial milestones as it beat its sales guidance of $7.6 billion for the full year 2018. Record annual sales were reported at $8.14 billion, increasing 13 percent Y/Y or $934 million, from $7.2 billion.

Record adjusted EBITDA was reported at $957 million, increasing 15 percent Y/Y or $122 million from $835 million. Record operating margin was reported at 11.8 percent of sales, increasing 20 basis points (bps) Y/Y from 11.6 percent. Record annual diluted adjusted EPS were reported, beating the company?s guidance of $2.90 and increasing 18 percent Y/Y from $2.52 to $2.97.

"Strong customer demand and delivery of our sales backlog, combined with our recent acquisitions, allowed us to achieve a record performance in 2018," said Jonathan Collins, executive vice president and chief financial officer at Dana. "We have a positive outlook for 2019 due to stable end markets, our solid sales backlog, and accretive acquisitions, all of which we expect to provide us a third consecutive year of double-digit sales and profit growth."

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2018 Production


Light vehicle segment sales for 2018 increased nearly 13 percent Y/Y. Commercial vehicle segment sales increased 14 percent Y/Y. Off-highway segment sales increased over 21 percent Y/Y. Power technology segment sales increased over 0.7 percent Y/Y.

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15 Feb 2019 at 6:00pm

Photo: FreightWaves Staff

Willie Frank Spight III wanted something a little more for his T-Term. The McCallie senior had a number of options for how to spend his midwinter, two-week study reserved for seniors project, but he wanted some real life, real-time experience.

His computer programming teacher, Wayne Fullam was at the FreightWaves Christmas party when he met chief data scientist Daniel Pickett. Fullam was concerned about teaching only for the AP test, and wished his students had an opportunity to do some real-world programming that might be valuable to a future employer.

?We continued the conversation into the spring,? said Pickett. ?Wayne told me about a really bright student who wanted to spend his senior T-Term working with a local business that was actually writing software.?

The rest, as they say, is history. ?Willie helped us write programs to collect highway camera images, from all over the country. Willie and our team also started implementing and training artificial intelligence (AI) and machine learning networks to recognize and count trucks versus cars,? said Pickett. ?Looking further out, real-time tracking of cars and trucks can be a great indicator of local and national economic activity. We could even have an early indication of crashes, traffic, fog and visibility issues. Willie helped us lay the groundwork for a data set that could be really powerful in a lot of ways.?

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Pickett continued, ?I wish I?d been doing stuff as advanced as this in high school. I?m very hopeful for the future of Chattanooga?s economy if high school seniors like Willie are doing this level of groundbreaking work.?

Spight took Intro to Computer Science last year, but it?s a huge jump from Javascript to web scraping, using Python Sequel, and Anaconda prompt in real world instances.

?We?ve been going to the DOT state traffic cameras and ?scraping? the images, putting them in a bucket and extracting the data from that so we can process the image and see which way the trucks are passing ? counting the trucks ? so we can gather data on the trucks in terms of accidents,? said Spight on his last day in the FreightWaves offices. ?At least, that?s the ultimate goal. The ultimate goal is to be able to see all trucks, the type of truck, and whether or not trucks are in accidents so we can get FreightWaves? clients the best rates possible.?

?It was a pleasure to work with Willie over the last couple of weeks. We coded in a language new to both of us while beginning the exciting initiative of using AI to track volume in near-time and real-time. It's special to work on something so cutting-edge at such a young age,? said data scientist Sierra Watkins.

Spight wants to major in computer science, specifically with a focus on radiology. He wants to do imaging and x-rays within the medical profession.

He currently has scholarship opportunities at Florida A&M, Hampton College and Rhodes College, but he?s also waiting to hear from Georgia Tech and Vanderbilt before he makes a final decision.  

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15 Feb 2019 at 5:30pm


Electric vehicle startup Rivian announced a $700 million funding round led by Amazon (NASDAQ: AMZN) today, February 15. The investment comes after the Michigan-based company unveiled its all-electric R1T pickup and R1S SUV last fall.

?This investment is an important milestone for Rivian and the shift to sustainable mobility,? stated Rivian Founder and CEO RJ Scaringe. ?Beyond simply eliminating compromises that exist around performance, capability and efficiency, we are working to drive innovation across the entire customer experience. Delivering on this vision requires the right partners, and we are excited to have Amazon with us on our journey to create products, technology and experiences that reset expectations of what is possible.?

The R1T and R1S boast a range of 400 miles and are designed to combine performance, off-road capability and utility. Both vehicles are expected to retail for upward of $68,000. They are produced in Rivian?s Illinois production facility, and the company expects to start customer deliveries in late 2020.

The product release puts Rivian in the position to directly compete with Tesla, which has already released an all-electric SUV and is working to develop a pick-up truck.

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Founded in 2009, Rivian currently employees over 750 people and has development centers in Michigan, California and England.

Rivian previously raised about $500 million from Sumitomo, a Japanese conglomerate known for its tire division, and Saudi industrial group Abdul Latif Jameel, according to The New York Times.

In addition to Amazon, this investment round also included participation by those existing shareholders, according to company. Rivian did not reveal how much of its funding came from each investor.

?We?re inspired by Rivian?s vision for the future of electric transportation,? Jeff Wilke, CEO of Amazon?s worldwide consumer division, said. ?RJ [Scaringe] has built an impressive organization, with a product portfolio and technology to match. We?re thrilled to invest in such an innovative company.?

Earlier this week, Reuters reported rumors that both General Motors and Amazon were planning to invest in Rivian, but General Motors was not named in the company?s funding announcement.

Despite Amazon?s investment, Rivian said it will remain an independent company.

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15 Feb 2019 at 5:00pm

It?s the same old story over at the Port of Oakland. January imports broke another record, with containerized import volumes increasing 9 percent last month over January 2018 totals.

Shippers are trying to get ahead of tariffs, and retailers are stocking up ahead of the annual New Year factory shutdowns in Asia.

The surge continues a trajectory that has existed for months. January marked six consecutive months of increasing imports in Oakland. Year-over-year volume increased nearly 11 percent last December and 15 percent in November.

?We?re happy with the same old story,? said Port spokesperson Mike Zampa.

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Zampa said one factor in particular gets overlooked as a driver of import volumes.

While U.S. consumer spending has underpinned import trade for a long time, that narrative could change. Retail revenues plummeted in December, and if that continues, imports could decline.

But for now, the Port of Oakland, like other West Coast ports, is riding high on the import wave: the port handled the equivalent of 81,895 20-foot import containers last month, the busiest January for imports in its history.

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There?s also some new movement in exports.

Oakland?s January export volume rose 0.6 percent compared to last year. Total container volume ? imports, exports and empty containers, increased 3.2 percent, year-over-year.

?We were surprised,? Zampa said. ?Exports have been on the decline for the most part in 2018,? he said.

But it?s soon to draw any conclusions from the fractional uptick.

?Let?s say we?re off to an ok start,? Zampa said.

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15 Feb 2019 at 4:58pm

The FLS brokerage floor in Atlanta.

The largest Canadian freight brokerage, FLS Transportation Services, announced that it has acquired Scott Logistics, a Georgia-based brokerage with an estimated $155 million in revenue. The combined entity brought in revenues estimated at $500 million in 2018. The deal continues the consolidation trend in recent years among third-party logistics providers (3PLs), a shift driven by the fragmentation of the logistics industry, tight labor markets and a flood of capital from private equity.

?Scott Logistics is one of the fastest growing 3PLs in our space,? said FLS CEO John Leach in a statement. ?Scott?s focus has been on its people, processes and technology and that has driven true value for its customers. The combination of FLS? 30-year cross-border expertise with Scott?s deep U.S. carrier network will significantly increase our scale and coverage in the highly fragmented truckload brokerage space. It truly is the perfect North-South combination.?

FreightWaves spoke to Leach and Jay Matthews, President of Scott Logistics, by telephone. Abry Partners did not respond to a request for comments.

As Scott?s founder and CEO Diane Manis approached retirement age, she wanted to take some chips off the table and started thinking about her exit. About five years ago, Manis began building an executive team to create a new strategic plan and manage the succession. Meanwhile, in 2016, Abry Partners, a Boston-based private equity firm, recapitalized FLS and put the company on a steeper growth trajectory.

The deal came together because Scott Logistics offered FLS greater network density in the United States and FLS could backhaul opportunities out of Canada to American carriers, lowering costs for Canadian shippers. Leach and Matthews said that the acquisition was focused on leveraging the network effect to grow both sides of the business rather than simply buying EBITDA and finding synergies to cut costs further.

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?When I was brought on,? Leach said, ?we really had two core strategic focuses ? one was developing an internal pipeline of sales folks to train and grow entry-level people with a really defined process? FLS historically had started branches by hiring people with experience, so there was no pipeline of new folks. The second part was definitely around M&A.?

Both FLS and Scott are decentralized, branch-structured organizations, which made melding them together easy, Leach said. FLS has six offices in Canada and four offices in the United States (Atlanta, Chicago, Springfield, Missouri, and Salt Lake City), while Scott has six branches in the southeastern United States. The only overlap is in Atlanta, but Leach said there are no current plans to consolidate those offices.

Matthews explained that part of the cultural fit between the two brokerages is the maturity and professionalism of their workforces. Half of Scott Logistics? account managers are women.

?We are very customer-centric and focused on doing things the right way,? Matthews said. ?That helps us retain customers, and we have retained great customers 10 years or more.?

Matthews said that Scott Logistics has been evenly split between contract and spot business over the last 12 months, but that it was aggressively participating in bid season to win more contract freight this year. It is widely expected that spot volumes and prices will be soft in 2019 compared to last year. Leach said that FLS was about 55 percent contract and 45 percent spot, a mixture that his team adjusts up or down five percent based on market conditions.

?We have a view in the RFP process that 2019 is going to be deflationary compared to 2018, so we decided to be more aggressive in bidding,? Leach said.

FLS is currently in the early stages of implementing the Revenova transportation management system (TMS), a TMS built on top of Salesforce. Leach said FLS liked Revenova because of its ability to tie into visibility providers, and the fact it can be customized by FLS as the company builds internal technology. At some point, when the implementation is complete, Scott Logistics will likely adopt Revenova as well.

Abry and FLS are still actively hunting for M&A, Leach said, looking mostly at cultural and organizational fit, both at branch-based brokerages and centralized shops.

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15 Feb 2019 at 4:30pm

Freight ferry operator CLdN, formerly Cobelfret, bids to capture spill-over cargo from competitors after Brexit. Credit: Shutterstock.

The vessel operator Compagnie Luxembourgeoise d?Navigation (CLdN) has made a direct pitch to the British Government in a bid to win contracts for spill-over freight in the event of a no-deal Brexit.

Speaking directly to Chris Grayling, the British Government?s Secretary of State for Transport and Nusrat Ghani, the Shipping Minister, Phil Pannett, a CLdN representative in the United Kingdom told the ministers that there was no need for money, but that the ferry operator was set to deploy four new ferries in the coming months.

Headquartered in the low-tax state of Luxembourg, CLdN operates more than 25 roll-on/roll-off (ro-ro) vessels throughout North Europe to Scandinavia. Pannett told FreightWaves that a further four 5,000 lane metre ships will be delivered to the company by the end of this year. The first vessel, the Lorelai, will arrive carrying a cargo of cars from the Hyundai Mipo shipyard in South Korea by the end of this month.

Pannett, who describes himself as a card-carrying Conservative, told the ministers, at an industry dinner in early February, ?Don?t waste another penny on ideas like Ramsgate [Seaborne Freight] or give any money to DFDS [a Danish ro-ro operator] who are our main competitors or Brittany Ferries, because quite honestly we have four brand new ships coming this year and we?re spending an absolute fortune in extra people to gear up for Brexit and the ro-ro business does not need any money being chucked at it.?

Since his conversation with the ministers Pannett said that he had not heard any more from the British Government. However, the Government has cancelled the controversial deal that it had made with Seaborne Freight, a company with no vessels that is proposing to operate ro-ro services from Ramsgate in southern England to Ostend in Belgium.

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According to Pannett, the major problem for the ferry companies is not extra capacity but the possible delays caused by paperwork at the borders. He said that the company is unaware of any advice offered by the Government, with just six weeks to go to Brexit Day, but that the company is ?preparing for what we think might happen.?

He added, ?Personally, I?d say if people had a good knowledge about the ro-ro industry they?d know that we don?t need more ships. The ships will still be there after Brexit; the ships aren?t the problem, the ferry world is robust. The customs requirements are the key,? explained Pannett.

Even for a Conservative like Pannett, the question remains: Can the British Parliament unite to deliver certainty for the business community and offer some clarity on what kind of border services they need to establish?

?If there?s a problem with the paperwork it will have an effect on services,? admitted Pannett, adding that the Government must establish a plan, but to know what that is ?we?ll have to wait and see,? he said.

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Government is not, however, responding in a way that will help businesses, including ship operators to plan. Valentine?s Day was clearly the last thing on the Brexiteers minds when the Conservative Members of Parliament (MPs) abstained from a vote on 14 February, causing Theresa May?s Government to suffer its tenth reverse on the Brexit issue.

The motion put forward by Government was similar to the one passed only two weeks ago, and this vote was meant to be benign, an affirmation of May?s strategy. However, Brexiteers in the Conservative Party believed the wording on the Irish backstop; it appeared to rule out a no-deal Brexit, an outcome that the right wing of the Conservative Party believed was ambiguous and they refused to back the motion.

The withdrawal of the Brexiteers? support meant the Government lost the vote by 45 votes, 303 to 258. And that left ministers playing down the importance of the defeat, claiming that the vote in two weeks, 28 February, will be the critical one.

However, some commentators believe that the European Union (EU) negotiators will see this as a failure on Theresa May?s part to command a stable majority in Parliament and will not engage in further discussions. So far EU representatives have been quiet on the issue.

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15 Feb 2019 at 3:21pm

15 Feb 2019 at 3:00pm

Road Hunter, a community-driven trucker application, has introduced a trip-planning feature to its platform, providing turn-by-turn navigation for U.S. and Canadian truck drivers. Since its inception in 2015, Road Hunter has enjoyed great reception in the trucking community, and has been downloaded over 150,000 times and has nearly 3,000 daily active users.

?Most of the downloads are by owner-operators who would account for 60 percent of our users, with the remaining 40 percent being company drivers,? said Mikhail Dzarasov, founder and CEO of Road Hunter. ?This actually tells you a lot about the trucking companies. Company drivers use our application as fleet managements are not providing them enough software for their needs ? like for navigation or for finding truck stops.?

Road Hunter provides tools for truck drivers, helping them stay alert while on the road and in touch with the ecosystem when off it. ?We provide weather reports, information about truck stops, restaurants, parking availability, data on fuel prices, and even help them spot low clearance bridges on their route,? said Dzarasov. ?The best part about this is that we provide everything for free.?

Dzarasov explained that apart from providing useful information to users, Road Hunter takes inordinate care in ?being there? for their users when they are in need. ?Similar applications out there take about 24-48 hours to respond to feedback or for support queries. At Road Hunter, we have a live support team that truckers can call at all times without any complications,? he said.

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Even the new turn-by-turn navigation feature is free for users. The catch here, Dzarasov mentioned, is that for users to utilize trip planning, they have to be active users. To determine if a user is regularly on the platform, Road Hunter asks the trucker to upload feedback, comment on road hotspots and post parking statuses ? and if deemed active would be allowed to use the navigation system for free.

?Other than the turn-by-turn navigation, truckers can also input their truck height, freight weight and preferred truck lanes ? and based on that information, our system would recommend the best possible route to haul their load,? said Dzarasov. ?Keeping our users active is good for Road Hunter?s community, and free tools are helping us do that.?

Road Hunter partners with many truck stops, weigh stations, highway motels, tire providers and maintenance shops, which in turn advertise on the application. If truckers approach these vendors and providers via Road Hunter, the startup makes money off of it. Dzarasov mentioned that Road Hunter also helps big trucking companies understand the needs of their drivers. Based on the usage statistics of drivers, the company can identify what is needed for a fleet to retain its drivers and reduce turnover.

?We have big plans in 2019,? said Dzarasov. ?We are working towards integrating with industry-leading products and transportation management systems to let all U.S. truck drivers have free navigation software. We are also developing data analytics algorithms based on data that we accumulate from our users, which would be used to improve on our services further.?

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14 Feb 2019 at 12:00am
Fuel and VMT taxes, truck parking, and CDL age requirements were some of the topics during recent Senate Infrastructure Committee testimony.

14 Feb 2019 at 12:00am
An atmospheric river that has deluged California with rain and snow will make its way east rapidly, according to a report from the National Weather Service.

14 Feb 2019 at 12:00am
Being extra isn?t nearly as valuable to the team as being consistent.

14 Feb 2019 at 12:00am
The Port Authority of New York and New Jersey will face a class action lawsuit for allegedly filming its employees? private medical exams without their knowledge, a federal court judge has ordered.

14 Feb 2019 at 12:00am
An effort underway at the Montana statehouse would make speed limits more uniform for cars and trucks.

14 Feb 2019 at 12:00am
Spot truckload rates are lagging behind an increase in freight volume compared to previous years in mid-February.

14 Feb 2019 at 12:00am
New England Motor Freight, a New Jersey-based LTL, filed for bankruptcy this week, just one year after its 100th anniversary. Over the years, NEMF has been associated ? at least in the press if not directly ? with the likes of Jimmy Hoffa, a Supreme Court Justice, and the Beatles.

14 Feb 2019 at 12:00am
Reform of hours of service regulations for commercial drivers was a hot topic of conversation when OOIDA execs recently met with FMCSA officials.

14 Feb 2019 at 12:00am
According to ATRI's recent e-commerce report, consumers expect free two-day shipping. Nothing is free. So who's paying for it? Truckers.

14 Feb 2019 at 12:00am
No, not Atlanta?s Spaghetti Junction this time. The worst truck bottleneck is New Jersey?s I-95-SR 4 interchange in Fort Lee.

15 Feb 2019 at 5:15pm
More than a few moving parts remain intact, when it comes to the interaction between Basel, Switzerland-based global 3PL and airfreight forwarder Panalpina by Hedehusene, Denmark-based global 3PL DSV, in regards to the latter?s pursuit of the former as an acquisition target, now the DSV has upped its offer for Panalpina and a separate party, Agility, is in talks with Panalpina about "partnership opportunities."

15 Feb 2019 at 3:43pm
The right labeling solution will allow companies to stand up to their everyday challenges and add value.

15 Feb 2019 at 2:29pm
For December, the most recent month for which data is available, the TCI came in at 11.46, a significant increase over November?s 5.84 and October?s 3.17. FTR said strong sequential volume gains, as well as a favorable fuel environment paced this growth.

15 Feb 2019 at 1:54pm
Rail carloads, at 242,266, fell 3.3% compared to the same week a year ago, and intermodal containers and trailers, at 277,513 units, saw a 3.4% annual gain.

14 Feb 2019 at 9:41pm
Fourth quarter revenue, at $4.39 billion, was up 4.6% annually, and net income attributable to common shareholders came in at $84 million compared to $189 for the same period a year ago, including a $173 million net benefit related to U.S. tax reform. Adjusted EBITDA for the quarter rose 11.4% to $380 million, and XPO generated cash flow from operations of $566 million and $479 million in free cash flow. Earnings per share, at $0.72, topped $0.45 a year ago. Full-year 2018 revenue was up 12.3% to $15.38 billion, and organic revenue growth saw a 9.3% annual gain.

14 Feb 2019 at 4:52pm
December retail sales, at $505.8 billion, were down 1.2% compared to November?s revised $512.2 billion (from $513.5 billion). While December retail sales saw a sequential decline, Commerce reported they were up 2.3% compared to December 2018. Total 2018 retail sales headed up 5% annually, to $6 trillion, according to Commerce, and total retail sales for the fourth quarter increased 3.7% annually.

13 Feb 2019 at 8:21pm
While the shockwaves stemming from regional less-than-truckload New England Motor Freight announcing this week it voluntarily filed for relief under Chapter 11 of the Bankruptcy Code in the U.S. Bankruptcy Court for the District of New Jersey in Newark on February 11 are still intact, documentation surfacing in recent days helps to tell the story of what led the fabled 101-year Elizabeth, N.J.-based carrier to make this decision.

13 Feb 2019 at 5:22pm
With true signs of momentum for a new, and badly needed, federal transportation infrastructure bill seemingly forever stuck in neutral, it is refreshing to see the nation?s top trucking lobbyist, American Trucking Associations (ATA) President and CEO Chris Spear continue to ring the bell (loudly) for federal action to get the wheels on new legislation moving.

13 Feb 2019 at 4:03pm
Marseille, France-based global container shipping company CMA CGM remains intent on acquiring CEVA Logistics, a global third-party logistics (3PL) services provider based in Hoofddorp, the Netherlands for $1.65 billion, according to various reports and filings.

12 Feb 2019 at 9:36pm
The company announced yesterday that as part of a ?long-planned succession process?, effective May 9, Chief Operating Officer Robert ("Bob") Biesterfeld, will become Chief Executive Officer, as well as being nominated to stand for election to the company?s board of directors. Biesterfeld will replace C.H. Robinson Chairman and CEO John Wiehoff, whom will continue as Chairman of the Board when Biesterfeld becomes CEO.

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