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Uber Freight has Announced Blockbuster $2.25 Billion Acquisition

Uber Freight has Announced Blockbuster $2.25 Billion Acquisition

Uber Freight, on Thursday morning, has announced plans to acquire one of the biggest managed transportation and logistics networks in the world.

Uber Freight Acquistion

For approximately $2.25 billion, Uber Freight will acquire Transplace from TPG Capital. This is according to a July 22 announcement from the two companies. In fact, the company is going to pay out $750 million in common stock from Uber Technologies. The rest will be in cash.

Logistics Management

In fact, the acquisition will usher in “a new era of logistics management” the company says. Moreover, with a logistics platform that will “optimize the movement of freight across the whole marketplace. Thus deliver what is calling best-in-class services to shippers, moreover, while they unlock opportunities for the carriers.”

Uber Freight: Path to Profitability

In essence, the acquisition is expected to “accelerate Uber Freight’s path to profitability.” Then, help the company to serve more customers while, in fact, expand its presence in Mexico. Moreover, by the end of 2022, the deal hoping to help Uber Freight break even on an Adjusted EBITDA.

After this acquisition, Uber Freight’s brokerage is going to operate independently from Transplace’s managed transportation services, the companies say.

“However, this is a major step forward, not just for Uber Freight. Also, for the whole logistics ecosystem,” said Lior Ron, Head of Uber Freight. “In fact, this is an opportunity to bring together supporting best-in-class technology solutions and operational excellence from two major companies to create an industry-first shipper-to-carrier platform that will transform shippers’ who supply chains, delivering operational resilience and reducing costs at a time when it means most.”

Shipper Network Platform and Supply Platform

“Moreover, the acquisition will, in fact, combine the world’s premier shipper network platform with one of the industry’s most innovative supply platforms, that will help all stakeholders,” said Frank McGuigan, CEO of Transplace. “The expectation is that shippers will see greater efficiency and transparency and carriers. They will benefit from the scale to drive improving operating ratios. All in all, we are expecting to notably be reducing shipper and carrier empty miles for the sake of highway and road infrastructures and the environment. Finally, we want to thank TPG for its partnership. We have worked together to position Transplace as a leader in supply chain innovation.”

Daimler Recalls Thousands Of Trucks From Freightliner and Western Star

Daimler Recalls Thousands Of Trucks From Freightliner and Western Star

Daimler has done the unthinkable. Over 120,000 trucks were taken away from the usage of Americans simply because there would be a loss of electrical power. Furthermore, there would be unintentional stalls in the engine. To be specific, the recall hits about 122,056 vehicles from the 2019-2022 Freightliner Cascadia, to the 2021-2022 Western Star 49X trucks. In that case, the battery cable terminal is likely to break from electrical power and unintended engine stalling. Dealers are pretty intent on replacing battery cables free-of-charge. Owners are able to contact the DTNA customer service at the number of phones: 1-800-547-0712, with a recall number of FL-893.

Daimler Has Provided Some Data About All This

A drop in demands by negative nine-point-one percent. The supply of trucks drops by negative-point-nine percent. Furthermore, there’s negative eight-point-three percent of market pressure dropping. Additionally, there’s also a positive uptick of point-eight percent going up because of spot rates.

Rates would go upwards through the market overall on flatbed declines. In such a case, there has been a decline in flatbed load postings. There are further moments in which the vehicles are in way better shape.

There are sharp declines all throughout. The July 4th holiday week was certainly very up and down with the peak of the spot market looking ever so dismal. When you see the FTR transportation Intelligence Stats, you can tell that this is all the more better than what 2020 showed. That week wasn’t quite as weak as last year. This is what I figure happens because of Daimler being totally insecure about admitting to their problems. Again, this isn’t to say that life is getting any better or lesser. It’s just to say that Daimler was able to bring in thousands of trucks on the road without a tinge of regret. Not one qualm whatsoever there at all.

Battery-Powered Powertrains Invite Clean Tech! Imminent For Trucking

Battery-Powered Powertrains Invite Clean Tech! Imminent For Trucking

Electric trucks are kicking hydrogen butt! This is thanks to the admittance made that in the race to zero-emission powertrains, the electric trucks that come with battery-power is in the lead. What a strange finding by Gladstein, Neandross & Associates (GNA).

Based in California, the group has been focusing on the state of clean traveling. This is especially promising when they show off their forecast for all-electric vehicles at this year’s Advanced Clean Transportation Expo. From there, the report will be titled The State of Sustainable Fleets 2021.

The consultants had this to say: “Despite its early stage of commercial development, satisfaction from early users is high in our fleet survey and actual BEVs [battery electric vehicles] orders by fleets is already three times its deliveries. If current order growth continues rising steeply and production capacity expands, BEVs are on track to become a leading clean fleet technology.”

Findings like these make compressed natural gas and liquified propane gas seem like they belong in the past. These two fuels have been on the forefront of clean transportation forever. You wouldn’t believe it from the words I say, but it’s true. California in particular has been increasing requirements to get to near-godliness. Why can’t everyone else get their nitrous levels no more than .02 grams per brake horsepower-hour. Trucks that are considered medium-duty and heavy-duty alike will have no choice but to go into zero emission states. Hopefully by 2045, when it’s most likely.

Plenty of GNA panelists from companies like Shell and Daimler have agreed themselves that the OEMs, customers and utilities have to work closer together in order to see to it that duty-cycle demands are patient. That they are patient and waiting for all-electric commercial vehicles. To handle charging infrastructure, specifically, matters a ton.

Experts have said “Battery electric vehicles are still fairly expensive but there is still lot of interest in anticipation of the [total cost of ownership] savings.”

Gas Shortage Ripples Through The Trucking Industry And Unfueled Drivers

Gas Shortage Ripples Through The Trucking Industry And Unfueled Drivers

As it turns out, the whole snafu that occurred from the Colonial Pipeline has affected the United States where no other disaster as really truly affected it like before. With gas. There happens to be a surge in demand amongst all truck drivers of fuel. However, there still stands the fact that the trucking industry has seen many absentees since the big COVID-19 Pandemic broke out stateside.

Life is pretty nuts like this. Some CEOs of trucking associations, like this guy, had something to say : “When you’ve got a disruption like this, which is thankfully rare, you add the uncertainty and all that gets exacerbated.”

It’s just not going to be easy for Gas.

Nowadays, there’s a real surge in demand when it comes to fuel truck drivers who can barely keep up.

Local truck CEOs have said that “when you’ve got a disruption like this, which is thankfully rare, you add the uncertainty and all that gets exacerbated.”

Of course, that’s to say we’re looking at a major shortage of owner-operators. This may be because of the Drug & Alcohol Clearinghouse. But we can’t be so grabby towards opportunity anyway. I mean, think about qualified drivers having to service the fuel and petroleum sectors. Wouldn’t they have it tougher?

Certain drivers have to uphold actually good safety records in order for their experience to be likely considered as a benefit.

Since the COVID shutdown started, plenty of tank truck drivers have to drive far in order to locate fuel at loading racks. That is, before driving back to certain service areas. Rarely do they have state and feds alike giving drivers the benefit of the doubt.

As one of these area owner-operator logistics aficionados have said, “that really strains that capacity that the fleets have and that the drivers have because they have limited hours of availability and they need their rest too.” Only time will tell how much gas we have left in our tank.

Industry Of Trucking Rattled Still By Long-Lasting Effects Of COVID-19

Industry Of Trucking Rattled Still By Long-Lasting Effects Of COVID-19

It was only a year or so ago that the World stopped spinning, thanks to COVID-19. The pandemic hit all parts of the world. Some markets suffered a heavy blow. Others ceased to exist anyway. That said, the trucking industry is a maverick in that case. They have been operating under challenges a-plenty, so when the supply chain became more crucial than ever? Truckers have been pushing to make life continue happening for front-line workers. This would help drivers navigate the shifting landscape of health and safety protocols. At the onset of the pandemic, there would be plenty of supply chain centers and warehouses as well that would adopt strict policies. These policies would limit in-person interactions. Furthermore, there would be plenty of other changes for inbound and outbound logistics processes.

The industry, would therefore, turn to technology to help them out in this time of need. In-cab transportation management suddenly would skyrocket into prominence. There would be no question about it as fleets looked to incorporate modern-payment platforms. They had to prepare for all the dangers that the pandemic had begun to present in the age of digital financial tech. There was also a need for remote payment technology even before the pandemic started. They had been gaining momentum, due in part to fraud-detection features. COVID-19 brought in safety demands and also prepared larger emphases on contactless methods of pay.

Financial technology adoption is rampant throughout the industry. These fleets can better suit themselves to hold on in spite of emergency situations. There would be paper documents that may or may not threaten business continuity should they render themselves incapable of shifting to a virtual setting ever so easily. Nowadays, carriers are digitizing holdouts in their businesses, in order to limit interactions for either warehouse workers or in-store greeters.

Electric Trucks That are the First Mass-Made go Into Production

Electric Trucks That are the First Mass-Made go Into Production

Electric trucks first locally assembled, the SEA 300 and SEA 500, have been announced by SEA Electric in volume production.

Specifications for the Trucks

The Australian, Melbourne-based electric truck company has detailed the broad range of specifications for the trucks which are the first it is manufacturing from a base “knock-down” kit. Moreover, this announcement was making on Wednesday.

Electric Trucks for Custom Applications

In the past, the eight-year-old company had built trucks for custom applications for customers. Both in Australia and overseas by retrofitting its patented electric SEA drivetrain to diesel trucks.

This time around, it is making the SEA-branded SEA 300 and SEA 500. Both are based on the Hino 300 and 500 series. They are new, in fact, using Hino SKD (Semi Knocked Down) kits. Through 15 dealerships throughout Australia, SEA will sell them.

Electric Trucks: First to the Marketplace

“It is a privilege for SEA Electric to be able to bring this Australian as the first to the marketplace,” said Glen Walker, SEA Electric director for Oceania in a statement.

“This is an exciting phase in global EV development and represents that. Putting SEA at the forefront.

Variety of Specifications

There is a variety of specifications for the SEA truck range. It has a maximum 280kWh battery capacity. Moreover, it is available on the SEA 500-225. That, in fact, offers a 6×2 axle configuration. Moreover, the maximum length of 9.24 metres and there is a gross mass of 22.5 tonnes.

Depending on configurations, the driving range starts at 200km to a top of 300km, unladen. It depends on which drivetrain is fitting.

Lower Cost of Ownership

In an email, Walker said he expected the payback time is going to be four to five years thanks to the lower cost of ownership. Therefore, the pricing will be determined by configuration options and application.

SEA 300 and 500

Moreover, he also said that SEA Electric has presently taken 46 orders for its SEA 300 and SEA 500. Those trucks can be customized to fit a range of applications. Those would consist of tippers, garbage trucks, cherry pickers and more.


Gridlock at the Ports Will Likely Blow Up Fourth of July

Gridlock at the Ports Will Likely Blow Up Fourth of July

Truck drivers may be suffering from gridlock. This may be because of container shipping backlogs that choke U.S. ports. This especially may impact the fourth of July. In which case, the National Fireworks Association on Wednesday has said before that this is due to Transportation Secretary Pete Buttigieg not allowing for levels to return to the way things were before the pandemic. “If this is not done within the next few weeks, we fear that this year’s fireworks season will never take place.” Shipping times from China for instance had doubled in amount to 60 days. No pun intended, container rates for fireworks have exploded. It may even take three weeks just for containers to get through the gridlock of ports in SoCal.

Lately, shippers stuck in gridlock have also been complaining.

While it remains unsure what Buttigieg is trying to do to better the situation, the DOT is also unsure of what to do when it comes to port congestion. Because of the COVID pandemic, a large slew of orders hitting gridlock has the e-commerce market swamped. In a way that doesn’t allow carriers to deploy the vessels and move freight through gridlock.

What else makes this situation inconvenient is the fact that dockworkers and vessels are stuck waiting for more than a week. And therefore everything is just going to feel real backed up. Who knows how this will all turn out? Some people suggest that the FMCSA and the Federal Highway Administration should adopt truck weight standards. The federal gross vehicle weight limit for over-the-road commercial vehicles happens to be 80,000 pounds. And yet, several states are able to exempt towards 105,000 pounds. This is thanks to the usage of a triple axle minimizing weariness on the road.

It’s not fair for carriers to charge higher rates, due to improper scheduling. This shouldn’t be the case, they believe as affiliate terminal operators are profiting off of late fees for pickups and returns that take forever for the customer.

Hyzon Motors Make Fuel Cell Material Production Facility

Hyzon Motors Make Fuel Cell Material Production Facility

The Hyzon Motors Trucking Company is a spinoff from Horizon Fuel Cell Technologies. And they have big plans that even their predecessor would have never predicted. Plans to produce fuel cells at alarming rates. Plans to include critical components woth the necessity of hydrogen vehicles at the helm.

The hydrogen-powered truck and bus manufactured is leasing the 28,000 sq-ft. facilities to expand production. Hyzon has made mention that they would become a public company.

That’s just dandy news for Hyzon.

They’re a new name in the game with barely two decades of experience. The company was established as early as last year post-spin-off from Horizon Fuel Cell Technologies. The latter develops commercial applications for fuel cells. They’ve been doing that since 2003. That’s pretty cool, all things considered. Now, there’s sights being set on the North American fuel cell vehicle market. This comes from a lack of establishing domestic hydrogen fueling networks. Therefore, the company feels the need to target heavy-duty vehicle customers with a “back-to-base” business model.

There’s plenty of progress happening for Hyzon as they continue to build factories in the USA, even though fuel cell materials tend to lack behind the bigger brothers of Europe and Asia. That always tends to be the case for a number of commercial vehicle stations where one is able to pull up and pay for gas. This isn’t always so quickly accessible but whatever.

Hyzon seems to have a good head on their shoulders. These days, you need to be as levelheaded as a fuel cell trucking company to be dominating other fuel cell trucking companies. It isn’t always easy. But it’s also pretty fun when you consider the possibilities. It all has a bit of glee to be generating hydrogen strong fuel cell materials especially designed to counter the bullies that Hyzon has been facing for eternities.

Small Fleets Can’t Beat Repeat Borrowers AKA Owner-Operators

Small Fleets Can’t Beat Repeat Borrowers AKA Owner-Operators

There’s federal money up for grabs again for pandemic-hit owner-operators small fleets, with about seven weeks left to apply.

The process for effectively turning a PPP loan into a grant is simple now. In other ways, the program is less restrictive than in PPP’s first round.

One drawback, however, is a hurdle for businesses looking to get a second loan. PPP2 requires a borrower to have suffered a drop of at least 25% in revenue for any quarter in 2020 compared to the same quarter in  2019.

Many trucking operations took a brief, often severe hit during the spring. Yet for the industry, it overall rebounds for a good year. Most truckers meeting the rubric with this criterion were individuals in special circumstances, such as “someone whose truck broke for a couple of months, someone who got sick, someone who sat it out, concerned about their health,” he said. 

At least half of those responding to this recent poll on Overdrive planned to apply for PPP funds.

Another loosening of requirements for forgiveness is the term for dispersing the funds, which formerly was eight weeks or 24 weeks, he said. “Now it’s anywhere in between.”

It’s difficult to make the numbers work smoothly on the short end, so ATBS recommends planning a term of 11 to 24 weeks for borrowers to pay themselves and, if any, employees.

A one-truck operator with his own authority, operating as a sole proprietor. Therefore, they should set up a personal account to receive set payments. This is given over the term that would cover the 60% target, advised Goodsell.

PPP1 borrowers were faced with a complicated form to have their loans forgiven, but a newer form is much shorter. Automatic forgiveness as it is keeps making the process simpler and simpler. Almost to the point of allowing for automatic forgiveness? How else do small fleets exist on their own? Investments and spreadings.

UPS Giving Up UPS Freight For $800 Million USD To TFI

UPS Giving Up UPS Freight For $800 Million USD To TFI

UPS, or the United Parcel Service, has decided to give away their truckload and LTL businesses to TFI International for $800 million. The deal is likely to complete in the second quarter in 2021.

Firstly, this was no simple choice, considering the decision came after an evaluation of UPS’s portfolio. Selling off UPS Freight was perfectly in-bounds with the current mantra that they already have with their strategic positioning. Of course, the company still has over 27,000 tractor-trailers active in its vary particular parcel delivery service. It retains such an amount, along with Coyote Logistics, the cargo airline.

UPS CEO Carol Tomé believes that “UPS can be more laser-focused on core attributes of [the] business that can therefore drive the greatest value for our customers.”

Pretty much 90% of acquired business will operate freely within TFI International’s LTL Business segment under “TForce Freight.”

United Parcel Service and TFI are additionally entering an agreement for UPS Freight to go on utilizing their homecourt advantage for shipment processes within the next five years. They are entering this very strategic transaction in hopes of strengthening service offerings to customers as well as their relationship with other freight companies. The strategy, as follows, is to operate independent business units with higher levels of accountability than before.

Therefore, the idea is that UPS will keep giving freight volumes. As well as other services to TForce Freight, post-transaction for at least five years. They also want to expand to network opportunities to Canada. UPS Freight was able to generate about $3 billion in revenue in 2020 alone.

Therefore, they broke pretty even pretty fast from the perspective of operating income perspective. There are long-term opportunities available to improve TForce Freight’s operating margin. When and how they will be accessible is up to the future. Also, how this new division of powers is rises in the half-decade to come.