Freight Day! 👋 We’re starting the day with an update on a significant deal involving the Panama Canal. CK Hutchison, the Hong Kong conglomerate, has delayed signing a deal to sell its two strategic ports at the Canal to a BlackRock-led group.

The deal, originally set to be finalized on April 2, has not been canceled, though the delay raises questions. More ahead 👇

💬 More in Freight:

⚫️ 68 Bridges Flagged For Risk

⚫️ FMCSA's Plan To Phase Out MC Numbers

⚫️ Trevor Milton Allegedly Pardoned

⚫️ Flexport Moves Profitability Timeline

68 Bridges Flagged For Risk ⚠️

Almost a year after the collapse of the Francis Scott Key Bridge in Baltimore, the National Transportation Safety Board (NTSB) warned on Thursday that 68 bridges across 19 states could be at risk if struck by a ship. The NTSB called on bridge owners to assess this risk immediately.

This recommendation is part of the NTSB’s ongoing investigation into the March 2024 collapse, which occurred when a massive cargo ship, the Dali, lost power and crashed into one of the bridge’s supports, killing six construction workers.

Texas Trucking Company Files BK 🏛️

A business owner from Henderson, Texas, Billy J. Townley, has filed for Chapter 11 bankruptcy for three companies, including his trucking business. The filings were made in the U.S. Bankruptcy Court for the Northern District of Texas, covering TLC Transportation, Townley Pallet Manufacturing, and W.D. Townley and Son Lumber Co.

TLC Transportation, an interstate carrier hauling pallets, has assets and liabilities between $1 million and $10 million. Its top creditors include Regions Bank ($2.97 million), the U.S. Small Business Administration ($2.97 million), and the IRS ($500,000).

Townley Pallet Manufacturing lists Commercial Financial Group/Texas as its sole creditor, owed $1.1 million. W.D. Townley and Son also has assets and liabilities between $1 million and $10 million.

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What Else Is Moving 🚚

China Pauses Port Sale ⏸️

CK Hutchison, the Hong Kong conglomerate led by tycoon Li Ka-shing, will not sign a deal next week to sell its two strategic ports at the Panama Canal to a BlackRock-led group, the South China Morning Post reported on Friday.

The deal was originally expected to be signed on April 2, following the sale announcement made on March 4. However, sources indicate that the deal has not been canceled, despite the delay.

Chinese authorities have expressed opposition to the planned sale, while U.S. President Donald Trump has supported it, viewing the deal as a move to regain control over the strategic waterway.

A CK Hutchison unit operates two of the five ports near the Panama Canal, a key hub for about 3% of global sea-borne trade. Panama granted the company a concession in 1998, which was extended for another 25 years in 2021.

The deal, which could bring CK Hutchison over $19 billion in cash, has drawn criticism from pro-Beijing media, including the Hong Kong newspaper Ta Kung Pao, which called for the transaction to be scrapped.

FREIGHT SNIPPETS ✂️

🛑 MC Numbers Phasing Out | The Federal Motor Carrier Safety Administration (FMCSA) plans to phase out Motor Carrier (MC) numbers with the launch of a new registration system later this year. Under the new system, the USDOT Number will become the sole identifier for all FMCSA registrants, with specific types of operating authority indicated by a suffix added to the USDOT Number. Existing MC numbers will not be replaced by USDOT Numbers and can still be used for other purposes, such as advertising. Current registrants will retain their existing USDOT Number, while brokers, freight forwarders, and motor carriers who have not previously received a USDOT Number will be assigned one under the new system. Read more.

🚛 Driverless Safety Report | Aurora Innovation has released its Driverless Safety Report, outlining plans to deploy self-driving trucks on public highways, starting with a Dallas-to-Houston freight route. The report details a Safety Case Framework, backed by data, to prove its trucks can safely operate under specific conditions. Aurora’s safety approach influences product design and corporate strategy, says Chief Safety Officer Nat Beuse. The company uses extensive virtual testing and its proprietary FirstLight lidar system to improve truck performance. Aurora’s initial rollout will cover highways in Texas, New Mexico, and Arizona, with speed limits ranging from 25 to 75 mph. Read more.

📣 Trevor Milton Allegedly Pardoned | The founder of bankrupt electric and hydrogen-powered truck maker Nikola, who was convicted of fraud, announced on social media Thursday that he has been pardoned by U.S. President Donald Trump. Trevor Milton, sentenced to four years in prison in 2023 for misleading investors about the company's technology, shared that Trump personally called him to deliver the news. The White House and Nikola have not yet responded to requests for comment. Read more.

🇲🇽 Walmart's Mexico Investment | Walmart de Mexico SAB (Walmex), the Mexican unit of the U.S. retail giant, announced plans to invest $6 billion in its operations in Mexico this year. The investment will fund new locations and robotic logistics hubs, reinforcing the company’s commitment to the market despite economic challenges and the looming threat of a U.S. trade conflict. Read more.

💰 Trucking Tax Credit | Lawmakers have introduced the "Strengthening Supply Chains through Truck Driver Incentives Act," which offers tax incentives up to $7,500 to help retain truck drivers. Reintroduced on March 27, 2025, by Reps. The bill also includes a $10,000 tax credit for new drivers or those in a registered trucking apprenticeship. The proposal is endorsed by the American Trucking Associations, Trucking Association of New York, and other industry groups. Read more.

🚨 AI For Long Haul Trucking | Torc Robotics Inc has partnered with Flextronics International and NVIDIA to develop a scalable AI compute system for autonomous trucks. Torc, a subsidiary of Daimler Truck AG, is focused on commercializing self-driving trucks for long-haul applications in the U.S. Torc Robotics said its physical AI enables self-driving trucks to perceive, understand, and perform complex actions in the real (physical) world. Read more.

Pallets of News 🚛

Flexport Moves Profitability Timeline 🎯

Flexport is pushing back its profitability timeline. CEO Ryan Petersen announced that the company missed its target of becoming profitable by the end of 2024, mainly due to weaker demand for e-commerce fulfillment services. He expects the company to be "quite profitable" by the end of 2025.

Flexport's core business involves acting as a freight middleman, and Petersen had previously projected an IPO for 2024. While still aiming for an IPO, he’s considering a secondary tender offering to allow investors to cash out while keeping the company private. Flexport’s revenue grew to $2.1 billion in 2024, driven by strong performance in ocean forwarding.

The company expanded in 2023 by acquiring Shopify’s logistics operations, consolidating fulfillment to five U.S. warehouses. With a global workforce of over 2,100, Flexport plans further expansion in Southeast Asia and Latin America.

Hyundai Adds Steel Plant To $21B U.S. Investment 🇺🇸

Hyundai is making its largest-ever U.S. investment, committing $21 billion to build a new steel plant, expand vehicle production, and enhance tech partnerships. The announcement was made Monday at the White House with President Donald Trump and Hyundai Chairman Euisun Chung.

The largest portion of the investment is a $5.8 billion steel plant in Louisiana, Hyundai’s first in the U.S. The plant will produce over 2.7 million metric tons of steel annually, creating 1,400 jobs, and supply steel to Hyundai’s factories in Alabama and Georgia.

Hyundai also plans to invest $9 billion to boost U.S. vehicle production to 1.2 million cars annually by 2028. An additional $6 billion will be allocated to partner

MEME OF THE DAY 😂

📍 Upcoming events: Catch up with us at TIA: Capital Ideas Conference in San Antonio on April 9-12 and at the Broker Carrier Summit in Indianapolis on April 28-May 2. Let us know if you’ll be there – we'd love to connect!