FreightWaves Today | September 23

SPEAKER_1 (0:00)

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Craig Fuller (1:10)

We're going to FreightWaves Today. It is Wednesday. It is our favorite day of the week. It is the AAR Rail data. We have Bill Stephens on to discuss what's happening in the railroads. Julie, tomorrow you're going to be in Green Bay. I'm going to be in Green Bay too. We're both going to be in Green Bay.

It's a reunion homecoming for you. Are you excited?

Julie Van de Kamp (1:27)

I'm really, really excited. I'm excited about the whole day. I'm excited about, I mean, I always love being in Green Bay. It'll feel like fall probably there more than here, which is amazing. I'm also jazzed that it's a Packer Game Day and to get to see some of the local transportation talent and feature Green Bay a little bit.

Craig Fuller (1:45)

It's going to be great. We're going to be on tomorrow. We're going to talk direct from Green Bay, Wisconsin. We'll be live, FreightWaves Today. We'll be there, going to be going to see the Green Bay Packers vs. the Falcons, which is the evening game on Thursdays, Thursday night game. That's the first home game, is it not?

Julie Van de Kamp (2:05)

It's the first home game, third game of the season, first home game.

Craig Fuller (2:07)

It's kind of cool, right?

Julie Van de Kamp (2:08)

It'll be so cool.

Craig Fuller (2:10)

We'll be there tomorrow. We're going to be interviewing the CEO Schneider.

Obviously, he has just taken the role a couple of months ago. Here, what's on the agenda in terms of how Schneider is thinking about the market, thinking about the overall changes in the industry. Schneider has got a very large logistics business, Managed Trans, as well as Intermodal. But really, they're known as a trucking company, those big pumpkins on the road. So we'll talk to Schneider and hear exactly what is going on. We also have Ryder and KBX.

Julie Van de Kamp (2:52)

We do with the Managing Director of KBX.

SPEAKER_5 (2:53)

And Paper Transport.

Julie Van de Kamp (2:55)

Paper Transport was on Monday because they had a conflict tomorrow. But we will, yeah, we'll be coming through.

Craig Fuller (3:02)

We have a full agenda and then Title Town, which is a partnership between the Green Bay Packers and Microsoft. Tell us, is there investing in supply chain startups? As we've said, Green Bay is a perfect location for that. Maybe not as perfect as Chattanooga, but I'm biased.

But we'll hear from the audience.

SPEAKER_5 (3:19)

You guys should tune in tomorrow.

Craig Fuller (3:21)

We'll be right in live.

SPEAKER_6 (3:23)

Noon Central, I mean Noon Eastern.

SPEAKER_5 (3:24)

Noon Eastern. All right.

Julie Van de Kamp (3:26)

We've got a great show today, too.

Craig Fuller (3:28)

We do. We have in-studio John Ferguson. He is the CEO's returning Pivot Supply Chain Solutions. He will be with us in-studio.

Chattanooga guy, moved from Chicago, started at what is now a fast growing freight broker. He's going to give us his perspective on the market. We have Drew Wilder. He is with Vicarious Liability Risk Management, which everybody is interested right now. What's going on around the legal constructs in a post Montgomery world. Then we have, legal landscape is again, we have a partner with Hanson Bridgett, Greg Reed. He's going to talk about what things look like there. Trains, Bill Stephens is going to come on and give us the train report.

Then we have the founder of Polyak Trucking and Consulting, is going to give us perspective on what small fleets are doing right now. So we have a great show. Yeah, packed show. Packed, packed.

Julie Van de Kamp (4:24)

Getting the headlines.

Craig Fuller (4:25)

Good.

Julie Van de Kamp (4:26)

We kick things off with a sobering wave of financial distress hitting carriers across the country. At least 16 trucking, delivery, and transportation companies entered bankruptcy proceedings between late August and September 21st. According to Federal Court filings and carrier records, the filings come as trucking companies continue navigating a freight environment marked by rising diesel fuel prices and other elevated operating costs. The geographically widespread cases include Chapter 11 filings from carriers ranging from small owner operators to fleets operating dozens of trucks spanning general freight, last mile, agricultural, and specialized trucking operations. Among the larger Chapter 11 cases are Illinois-based Globemaster Incorporated, which operates 51 power units, and Texas-based Zoco Transport, which has more than 40 tractors, 65 drivers, and 70 trailers. Several smaller carriers filed Chapter 7 cases, which typically involve liquidation rather than reorganization. Over on the rails, Alabama is pushing forward with a massive infrastructure project designed to connect inland shippers directly to the port of Mobile. Construction of the Alabama Port Authority's Montgomery Intermodal Container Transfer Facility remains on schedule for an early 2027 opening, with site grading and underground utility work completed and rail infrastructure construction now underway.