Early-termination agreements, which penalize parcel shippers for diverting traffic from their carriers and causing volumes to fall below contractually predetermined levels, have been in place for many years. They become more common around a decade ago. They have become a contract mainstay since 2020, when the parcel-delivery sector became a...
CMA CGM revenues climb as the container shipping bonanza continues.
On September 9, 2021, the French container shipping giant CMA CGM announced an extraordinary move for a profit-driven enterprise with publicly traded bonds: it suspended all rate hikes until February 1, 2022. The company decided to "prioritize its long-term customer relationships in the face of an unusual circumstance in the...
The market shift motivates owner-operators to collaborate with larger fleets.
For good reason, owner-operators and small carriers are renowned as the trucking industry's lifeblood. They account for a sizable share of the freight business, and the industry would be severely hampered without them. According to the Federal Motor Carrier Safety Administration, there were 502,626 "very small" registered fleets - businesses...