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Despite a challenging 27 months for freight brokerages during this market downturn, often considered a freight recession or even a depression, the overall credit scores for these brokerages are not as dire as expected.
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Two executives from the now-defunct Florida-based trucking and logistics firm, Royal Bengal Logistics Inc., have been charged with participating in a Ponzi scheme that fraudulently raised about $112 million from 1,500 investors.
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In recent months, the freight industry has been rocked by a wave of unprecedented scams. Just last week, we discussed a freight ransom ring in Illinois. Now, we have another alarming story to share: corporate espionage.
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A recently unsealed indictment has revealed allegations that a trucking company was secretly operating a statewide network, leading to the seizure of nearly 13,000 pounds of methamphetamine and dozens of guns.
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Another brokerage company has successfully defended itself in court, with a recent ruling holding that a 3PL (third-party logistics provider) is not liable for an accident involving a carrier it hired.
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A new electric Class 8 truck from Chinese manufacturer Windrose was unveiled at the ACT Expo in May 2024. The truck has a range of up to 415 miles (670 km) and is designed for long-haul trucking.
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Connecticut State Police (CSP) conducted a traffic stop on a commercial vehicle on July 10th in Danbury after troopers observed it bypassing a weigh station and traveling on secondary roads.
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Nearly two dozen freight brokers claim that Agility Express Inc., an Illinois trucking company, and its network of affiliated carriers targeted their businesses just before the Fourth of July holiday, holding 36 confirmed loads hostage for ransom.
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Freight is going mainstream on the Bachelorette with contestant Devin Strader. Devin appears to be the definition of a freight entrepreneur.
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Jacksonville-based logistics firm Crowley has been awarded a $2.3 billion contract by the U.S. Transportation Command (USTRANSCOM) for Defense Freight Transportation Services (DFTS II).
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The Business Facilities 20th Annual Rankings Report identifies leading locations for industries, focusing on factors crucial for business relocation and expansion. The July/August 2024 issue highlights the top hubs in manufacturing and logistics.
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The Japanese government is planning to connect major cities withĀ automated zero-emissions logistics linksĀ to efficiently move millions of tons of cargo while reducing road traffic.