FreightWaves Today

Teamsters Union and UPS reached a resolution early this morning that successfully averted a strike at several key locations. Despite resolving grievances and a local contract dispute, relations remain tense as the Teamsters navigate buyout offers and alleged contract violations, with the union prepared to set up strike lines in multiple states.

Forward Air unveiled their second-quarter earnings, where the company missed expectations with a net loss of $20.4 million, which was worse than the consensus estimate. Revenue saw a 4% year-over-year decline but increased 1% from the first quarter, and no update was provided on the ongoing strategic review that could potentially lead to the company's sale.

Echo Global Logistics announced its acquisition of fellow 3PL FreightSaver, a California-based company founded in 2014 by Ryan Renne and Buster Schwab. FreightSaver specializes in truckload, less-than-truckload (LTL), expedited, and specialized shipments; Echo's CEO stated that FreightSaver's customer-centric, tech-enabled business complements Echo's strengths and accelerates its ability to deliver value through managed transportation.

Finally, the podcast highlights upcoming content on FreightWaves TV, including Check Call and Loaded and Rolling. Listeners are encouraged to register for the F3: Future of Freight Festival using a special code and also for the Crossborder Logistics Summit.

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In today’s FreightWaves Morning Minute for Friday, August 8:

- Tariff fraud enforcement could spike 200% amid DOJ crackdown

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RXO's recent earnings report (First look: some small signs of improvement sequentially and year-on-year at RXO - FreightWaves), which shows little significant movement compared to last year and the previous quarter, despite their CEO noting good execution in a soft freight market.

The planned US-Mexico rail route advances with the release of a crucial environmental report (Planned US-Mexico rail route advances with environmental report - FreightWaves). This critical step forward for the Green Eagle Railroad aims to enhance connectivity and efficiency in North American freight movement.

Hear about a major strategic move in air cargo logistics as DHL proactively extends its long-term dedicated transport contract with Cargojet (DHL moves early to renew Cargojet contract until 2033 - FreightWaves), underscoring their confidence and commitment to robust air freight capabilities. 

Plus, don't miss details on upcoming FreightWaves TV content and information on the F3 event in October.

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Air Lease has cancelled its order for Airbus A350 freighter jets, a move driven by ongoing development delays and a strategic shift to focus on passenger aircraft. 

A new legislative proposal that could significantly alter the landscape of U.S. maritime trade by opening U.S. shipping lanes to foreign allies. This bill proposes 5-year Jones Act exemptions, allowing foreign companies to temporarily operate their vessels in America's highly protected coastal trades. 

DHL  is anticipating a notable impact on its financial performance due to a new U.S. de minimis policy. The company projects that the recent crackdown on tariff-free trade for inexpensive overseas packages could potentially trim its overall profit by as much as 3%. 

Be sure to tune into FreightWaves TV later today for new episodes of What the Truck and Truck Tech, and don't forget to sign up for F3, happening October 21st and 22nd in Chattanooga, Tennessee!

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PrimeFlight Aviation has successfully acquired Stratair's cargo handling business, marking a strategic expansion for PrimeFlight and a divestment for Saltchuk Aviation as it downsizes its air cargo footprint.

A major legal development has concluded as a judge officially signed off on the settlement in the biometrics case involving Lytx, bringing to an end a long-standing matter closely watched for its implications on data privacy and employee rights. 

New legal proceedings are underway following last year's tragic Baltimore bridge collapse, with the owner and operator of the container ship now suing the vessel's builder. This lawsuit alleges a defective design led to the power loss that caused the disaster.

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Significant concerns surround the proposed Union Pacific-Norfolk Southern merger, which could leave major intermodal customers like J.B. Hunt, Schneider, and STG Logistics without coast-to-coast single-line service benefits. Intermodal analysts predict these companies may need to swap rail partners in the East to adapt to the new competitive landscape, with J.B. Hunt potentially shifting to CSX. 

The episode also highlights BNSF Railway's strong financial performance in the second quarter of 2025, where its pre-tax earnings rose by 11.5% to $2 billion. This gain was driven by lower operating costs, despite a decrease in average revenue per car due to factors like lower fuel surcharges. 

Furthermore, learn about the unfortunate closure of TGS Transportation, a California trucking company, after 40 years in business. This difficult decision was primarily influenced by the challenging market conditions currently facing the trucking industry. 

Tune in to hear all these freight industry updates and more, including a preview of today's WHAT THE TRUCK?!? episode on FreightWaves Television. Catch the replay on SiriusXM channel 146 at 6 p.m.

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NATO has issued a dire warning, stating that global ports face unprecedented cyber threats from state-linked actors, with attacks frequently traced back to Russia, Iran, and China. These sophisticated assaults target critical systems like access control and vessel traffic management, posing a severe risk to global supply chains and military logistics.

In rail news, Union Pacific and Norfolk Southern have confirmed advanced discussions for a potential merger that would create the first U.S. transcontinental railroad. While no assurance of a final agreement exists, Union Pacific's CEO emphasized that the railroad industry cannot stand still and requires change.

On the trucking front, Heartland Express reported its eighth consecutive net loss in the second quarter, totaling nearly $11 million, or 14 cents per share. This performance was worse than analyst expectations and the prior year's loss, despite the company noting some sequential improvement from the first quarter.

Looking ahead, FreightWaves TV has new episodes of WHAT THE TRUCK?!? at noon and Running on Ice at 2 PM today. You can also catch the replay of WHAT THE TRUCK?!? this evening on SiriusXM channel 146.

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