Business

FARMINGTON, Conn. — Horizon Technology Finance has provided $30 million to Kodiak Robotics, Inc. in the form of a growth capital credit facility. Mountain View, California-based Kodiak is a developer of self-driving long-haul trucks with an operations hub in Dallas.  The company delivers daily freight across Texas and Oklahoma for a range of commercial partners, including Werner Enterprises, CEVA Logistics, U.S. Xpress and 10 Roads Express. “Kodiak is on the forefront of autonomous driving for commercial vehicles, providing innovative freight solutions which can fundamentally change supply chains for the better,” Gerald A. Michaud, president of Horizon, said. “We are excited to support Kodiak as it further expands its suite of solutions and revolutionizes how we think about the future of freight transport.” Kodiak is backed by a consortium of premier investors including SIP Global Partners, The Pilot Company, Bridgestone Americas, Battery Ventures, Lightspeed Venture Partners and CRV. “We are very pleased to receive Horizon’s support as we build on our vision to become the world’s safest and most efficient driver,” Don Burnette, founder and CEO of Kodiak, said. “We firmly believe that self-driving trucking technology will make roads safer and supply chains more efficient and resilient while reducing emissions and improving quality of life for truck drivers. Horizon’s support will allow us to continue to scale the Kodiak Driver: the industry’s most advanced technology stack. We look forward to working with Horizon to continue to transform trucking.”  

NEWMARKET, Ontario — CarriersEdge has introduced a new resource library to the CarriersEdge platform that’s designed to help drivers apply information that is covered in CarriersEdge online training courses into real-world use. The new resource library, dubbed “Put it into Practice” (PiiPs), provides fleets with a list of subject-specific follow up activity ideas that company administrators can use to help drivers better comprehend or retain concepts covered in driver training courses, according to a news release. “PiiPs give administrators suggestions on how to use driver incentives, surveys, social media, classroom activities, hands-on practice, driver communication strategies and more to better support driver education and safety programs,” the news release stated. According to Jane Jazrawy, CEO of CarriersEdge, information that CarriersEdge “collects through the Best Fleets to Drive For program inspired the decision to add PiiPs to its online training platform.” Best Fleets to Drive For, created by CarriersEdge in 2008 and produced in partnership with Truckload Carriers Association, is an annual program dedicated to identifying the best workplaces in the North American trucking industry. “Through our evaluations of fleets nominated for the Best Fleets to Drive For program, we’ve found that the top performing companies have comprehensive driver training programs, and that most use a combination of training follow up activities to support drivers in their education,” Jazrawy said. “Many of the ideas we’ve added to PiiPs were influenced by the activities the Best Fleets are having success with. We expect this new library of training follow up activities to be a great resource for fleets to support driver education and fleet safety.” PiiPs are currently available for several popular CarriersEdge courses, including Distracted Driving, Defensive Driving, Injury Prevention, Vehicle inspection, Weights and Dimensions and more. CarriersEdge will continue to add PiiPs for other courses in the library, and in languages including French and Spanish. The new PiiPs feature is available to customers now at no extra charge, as part of the CarriersEdge subscription service. CarriersEdge has more than 100 online driver training courses accessible in its monthly subscription package, with new and updated titles added regularly. Courses are offered as full-length orientation, short refresher and remedial titles, and as standalone knowledge tests.  

ALEXANDRIA, Va. —  The National Motor Freight Traffic Association (NMFTA) announced on Tuesday, Oct. 11, that its annual Digital Solutions Conference on Cybersecurity will open to the entire trucking industry. This year’s conference is set for Nov. 13-15 at the Westin in Old Alexandria. Registration is available at the conference’s website by clicking here. The event is free. After kicking off with a welcome reception on the evening on Nov. 13, the general meeting begins on Nov. 14 with educational sessions touching on cellular cybersecurity, e-mail security and mobile device security, according to a news release. Nov. 15’s sessions cover topics such as vehicle security and enterprise security, as well as keynote speaker Eric O’Neill — a former FBI counterterrorism and counterintelligence operative. Yongdae Kim, Ph.D., professor of electrical engineering at the Korea Advanced Institute of Science and Technology, will also present. He and his team have recently developed a system that can automatically analyze vulnerabilities of LTE mobile systems, the news release stated. The conference will close with a panel discussion titled “The Future of Cybersecurity — Where Do We Go From Here?” That panel will be moderated by Michael Wickham, senior staff engineer at Johns Hopkins University Applied Physics Lab. “We have been having this conference for many years for the LTL industry,” Debbie Sparks, executive director of NMFTA, said. “With so many digital security threats facing the trucking industry, we are very pleased to open the conference up to the entire industry so all will have the opportunity to benefit from these insights.” In addition to O’Neill, Kim and Wickham, other conference speakers include Chase Cunningham, Ericom; Gema Howell, National Institute of Standards and Technology; Jeremy Daily, Ph.D., Colorado State University; Kate Vajda, Dragos; and Ahmed Shah, Red Canari. Those interested in attending are encouraged to register soon to ensure availability. NMFTA encourages participation not only from IT professionals in the industry, but also from individuals who manage their own trucks along with supporting software.

CAMDEN, N.J. — NFI Industries has acquired MCO Transport Inc, a container drayage, warehousing and truckload transportation company. With the acquisition, NFI expands its port operations and export drayage services to MCO’s locations in Wilmington, North Carolina, Norfolk, Virginia, Charleston, South Carolina, Savannah, Georgia, and Atlanta, according to a news release. Established in 1976, MCO Transport is a family-owned business specializing in container drayage services and headquartered in Wilmington. Alongside its container drayage offerings, the company operates transportation and warehousing operations, including domestic truckload and specialized commodities between its terminals in the Southeast ports. “The addition of MCO Transport enhances NFI’s network in the Southeast and enhances the offering to new and existing customers,” a news release stated. “When we look at an acquisition, we look at three things: their people, culture, and if the expansion brings value to our customers,” said Sid Brown, CEO of NFI. “With the MCO acquisition, we are getting exactly that. We are excited to welcome the MCO team to the NFI family and know they will play a key role in the future success of NFI. The acquisition also allows us to bring value to our customers by expanding our presence in the Southeast during a time when our customers are looking to diversify their port strategy. Danny McComas, owner and CEO of MCO, said: “Throughout this process, our team wanted to ensure we found a buyer that would create opportunities for our employees and our customers. It is a culture that matched what MCO has grown to expect. NFI is a great fit for MCO employees because of our similar cultures — they are a family-owned business, dedicated to their employees’ growth, and have a deep commitment to their customers.”

COOKEVILLE, Tenn. — The Tennessee Trucking Association (TTA) recently honored Averitt Express for its commitment to environmental responsibility, presenting Averitt with its Clean Diesel Award. The Clean Diesel Award is given to a Tennessee transportation and logistics provider each year for efforts in improving fuel conservation and sustainability within its fleet, according to a news release. “We’re proud to earn this recognition from the Tennessee Trucking Association,” said Averitt President Wayne Spain. “We’re dedicated to improving the sustainability of our operations, and we will continue to seek innovative and creative technologies to reduce our impact on the environment.” Averitt has adopted a wide variety of practices and technologies into his fleet, including: Using only ultra-low-sulfur diesel at the company’s in-house fueling stations to reduce emissions of particulate matter and nitrogen oxides. Operating new low-emission diesel tractor engines. Providing trucks with auxiliary power units that enable drivers to reduce tractor idling when parked for long periods of time. Introducing electric forklifts to its fleet. Maintaining balance within the company’s network to reduce empty miles to reduce emissions and fuel usage.

COLUMBUS, Ind. – ACT Research has released DRIVING AUTOMATION, a new report that outlines the total cost of ownership for commercial autonomous vehicles in North America. DRIVING AUTOMATION aggregates relevant market information, analyzes autonomous deployment models and presents a technology adoption rate forecast over a 20-year horizon, a news release stated. “The work, executed as a multi-client study with more than a dozen industry leaders, covers six key areas of autonomous transportation, including a market overview, total available market (TAM), regulations and infrastructure considerations, vehicle TCO (including utilization, fuel economy, maintenance, labor and driver impact, and safety considerations), autonomous models’ impact and ACT’s autonomous forecasts.” Ann Rundle, vice president of electrification and autonomy with ACT Research, said. ACT’s Research Analyst Lydia Vieth said the team spent nine months of “intensive collaborative and independent research. Our objective is to provide a one-stop resource combining first-hand industry knowledge of autonomous commercial vehicle market leaders, regulators and fleets with ACT’s expertise in analysis and forecasting to provide a first-of-its-kind business tool.”  

PLANTATION, Fla. — DHL has announced a new partnership with BigCommerce geared toward helping online business owners across the U.S. with discounted shipping costs. BigCommerce merchants that join the program will receive discounted rates from DHL Express, a news release stated. Program participants will also have special access to DHL shipping and logistics professionals “who can potentially help unlock global sales opportunities and take the mystery out of shipping internationally,” according to the news release. “We are looking forward to working with BigCommerce and potentially helping their merchants across industries strengthen their global reach,” Greg Hewitt, CEO at DHL Express, said. “As the needs of small startups, mid-market businesses and large enterprises continue to evolve and heighten, we will be able to further support B2B and B2C BigCommerce merchants by offering quick, reliable and expedited shipments that will help maximize their cross-border potential.” Merchants will also have access to DHL’s On Demand Delivery tool, which provides their customers with proactive notifications and offers flexible delivery options worldwide. “Our partnership with DHL further illustrates our commitment to providing merchants access to the highest-caliber technologies and service providers available in the industry,” Russell Klein, chief commercial officer for BigCommerce, said. “DHL shares our desire to help merchants sell more and grow faster to maximize success, and we look forward to working together to mutually support customers.” DHL Express ships to and from more than 220 countries and territories.  

GREENSBORO, N.C. — Volvo Trucks North America’s largest West Coast dealership, TEC Equipment, is working with logistics company Performance Team to integrate a growing number of battery-electric tractors into Performance’s California operations. In March 2022, Performance Team ordered 126 Volvo VNR Electrics to service its short-haul warehouse distribution routes, “demonstrating the company’s ongoing commitment to reducing its carbon footprint,” a news release stated. Performance Team’s full order of Class 8, zero-tailpipe emission trucks are scheduled to complete delivery by Q3 2023. As of October 2022, Performance Team has taken delivery of its first 30 Volvo VNR Electric trucks, with 16 operating from its Santa Fe Springs location and an additional 14 trucks set to begin operating from its Commerce location later this month. “Introducing any new technology into your fleet operations can come with a learning curve, which we are definitely seeing as customers make the switch from diesel to battery-electric trucks,” Jared Ruiz, acting head of electromobility sales for North America, at Volvo Trucks North America, said. “It is inspiring to see our very first Volvo Trucks Certified EV Dealer working side-by-side with the largest Volvo VNR Electric fleet in the world, both of which are fully committed to facilitating the widespread adoption of zero-tailpipe emission transportation solutions. TEC Equipment and Performance Team are taking a trailblazing role in demonstrating how a dealership and customer can collaborate to maximize the benefits of battery-electric trucks when they are deployed into fleet operations at scale.” Michael Gallagher, head of indirect sourcing, North America, at Performance Team, said that both Volvo Trucks and TEC Equipment “continue to go above and beyond to support Performance Team’s growing battery-electric fleet. One example is the ongoing training they are providing to help our drivers optimize the range of the Volvo VNR Electric, including how to leverage regenerative braking benefits to add power back to the battery. Overall, our drivers have had a very positive experience with the Volvo VNR Electric.”

LINCOLN, Neb. — According to the newest market reports from Sandhills Global, inventory levels in the heavy-duty truck and semi-trailer categories have decreased two months in a row while auction values remained steady in September. The stabilizing pattern for these key markets follows an extended period during which inventory levels grew significantly and auction values declined. It’s also significant to note that used heavy-duty truck and semi-trailer inventory levels in Sandhills marketplaces are still well above those reported for September 2021. The key metric used in all of Sandhills’ market reports is the Sandhills Equipment Value Index (EVI). Buyers and sellers can use the information in the Sandhills EVI to monitor equipment markets and maximize returns on acquisition, liquidation, and related business decisions. The Sandhills EVI data include equipment available in auction and retail markets, as well as model year equipment actively in use. Regional EVI data is available for the United States (and key geographic regions within) and Canada, allowing Sandhills to reflect machine values by location. Chart Takeaways Sandhills Market Reports highlight the most significant changes in Sandhills’ used truck and trailer, construction equipment, and farm machinery markets. Each report includes detailed analysis and charts that help readers visualize the data. Sandhills provides a complete view of the equipment market trends with its newest market reports, detailing the critical patterns in markets like medium-duty trucks and medium-duty construction equipment. U.S. Used Heavy-Duty Trucks The Sandhills EVI shows used heavy-duty truck inventory decreased 2.7% month-over-month in September, following a 5% M/M drop from July to August. Heavy-duty truck inventory levels were still up 20.9% year-over-year. Auction EVI was steady (decreasing 0.1%) M/M and increased 12.4% YOY. Heavy-duty truck asking values continued to follow trends set by auction values in prior months. Asking EVI decreased 0.8% M/M, marking the fourth consecutive month of asking value decreases, and increased 25.8% YOY. U.S. Used Semi-Trailers In September, semi-trailer inventory levels were down 3.7% M/M and up 37% YOY. Similar to the flattening auction values seen in heavy-duty trucks, semi-trailer auction values decreased just 0.7% M/M and increased 12.7% YOY. September marked the fourth consecutive month of declines in semi-trailer asking values. Asking EVI decreased 4.5% M/M and increased 31.7% YOY. U.S. Used Medium-Duty Trucks With inventory levels decreasing 1.2% M/M in September, medium-duty truck inventory levels continued their slow decline. YOY, however, inventory levels showed a 57% increase. Medium-duty truck asking and auction values have been sluggish in recent months. Auction EVI decreased 2.9% M/M, and values were nearly flat (up 0.6%) YOY. Asking EVI decreased 0.5% M/M and increased 16% YOY. U.S. Used Heavy-Duty Construction Equipment The Sandhills EVI shows used inventory levels dropped 3.1% M/M for heavy-duty construction equipment; inventory levels also remain lower than last year, having decreased 34.8% YOY. Auction EVI for heavy-duty construction equipment was flat (up 0.1%) M/M and increased 7.5% YOY. Asking EVI increased 1.1% M/M, a slight rise following a 0.4% July-to-August value drop and increased 8.1% YOY. U.S. Used Medium-Duty Construction Equipment Used medium-duty construction equipment inventory levels decreased 3.4% M/M and decreased 22% YOY. With a 1.5% M/M auction value decrease in September, auction EVI in this category has shown four consecutive months of decreases. Auction EVI increased 4.8% YOY. Asking values in the medium-duty construction market has been slowly decreasing in recent months. Asking EVI decreased 0.26% M/M and increased 11.3% YOY. U.S. Used Farm Equipment Used farm equipment inventory levels have been steady for several months, increasing 2.5% M/M in September. Inventory is also lower than last year, down 16% YOY. Auction EVI decreased 1.1% M/M but remains higher than last year, up 5.6%. Asking EVI decreased 0.6% M/M but is also above last year, up 7.3% YOY. Obtain the Full Report For more information, or to receive detailed analysis from Sandhills Global, contact us at [email protected].  

OMAHA, Neb. — Werner Enterprises Inc. has signed a definitive agreement and closed on the acquisition of FAB9, Inc., doing business as Baylor Trucking Inc. Founded in 1946, Baylor operates 200 trucks and 980 trailers in the east central and south-central U.S., with itsnetwork of two terminals. “Baylor, with its highly-skilled professional drivers and non-driver associates, further strengthens our portfolio with their exceptional service and stellar reputation,” said Derek Leathers, chairman, president and CEO at Werner. “I have known Cari Baylor for many years, and I have tremendous respect for what Cari, her family and her leadership team have created at Baylor. This acquisition delivers on our Werner DRIVE strategy and will position us for further growth. We expect this transaction to be accretive in year one and anticipate buying power synergies through integrated management of our combined fleets.” Werner touts the following strategic and financial benefits of the acquisition. Addition of 234 highly-skilled, tenured and professional drivers. Fleet of 200 trucks (170 company and 30 independent contractor) and 980 trailers. Existing Baylor leadership (including President Cari Baylor), drivers and non-driver associates will remain in place, and we are retaining the Baylor brand to ensure smooth integration and high driver retention. Freight revenues mix of one-way dry van (51%), expedited dry van (42%) and refrigerated (7%). Adds high-quality driver and non-driver talent and increases Werner’s fleet size by 2.4%. Buying power synergies are expected through combined management of our two fleets. Both Werner and Baylor have similar cultures that are intensely focused on safety and superior customer service. Shared values of working with winning customers with high expectations, establishing long-term mutual service and revenue objectives, and delivering best-in-class performance to stabilize volume and minimize churn. Baylor will operate as a standalone business unit within Werner, and their financial results will be reported in Werner’s One-Way Truckload unit within Truckload Transportation Services. Leathers continued, “Both Werner and Baylor believe deeply that our professional drivers are the backbone of our companies. Both companies were founded by their first driver. We look forward to welcoming the Baylor team and working together to create additional value for our customers and shareholders.” Cari Baylor, president of Baylor Trucking, said she has admired and respected Werner for a long time as an industry leader. “We are extremely excited to join the Werner team and look forward to continued growth as we leverage the strengths of Baylor and Werner to serve our existing and new customers at even higher levels,” Baylor said. “We will stand by our customers and continue to provide them with the superior service they expect from Baylor. Aligning with Werner only expands our service capabilities. Werner shares our passion for delivering value and continually creating personal and professional opportunities for our elite Baylor team.”

JOINT BASE LEWIS-MCCHORD, Wash. — Hundreds of active and retired U.S. military members and spouses recently attended a trucking-related career development, networking and job hiring event at Joint Base Lewis-McChord (JBLM) in Washington state. Dubbed the Hiring Our Heroes Summit, the event was coordinated by the U.S. Chamber of Commerce Foundation’s Hiring Our Heroes Program. The summit drew leading national and regional-based companies including Amazon, Boeing, Intel, Kenworth and PACCAR. At the summit, Kenworth representatives met with members of the military to discuss employment opportunities with Kenworth and to provide information about the trucking industry. On display at the event was a Kenworth W990 equipped with 52-inch flat roof sleeper, PACCAR MX-13 engine and a PACCAR TX-18 automated transmission for event attendees to get an up-close look and learn about Kenworth’s latest long hood. According to Mark Buckner, Kenworth section manager for battery electric vehicle development and a member of the U.S. Navy reserves, interest in meeting with top national and Washington state employers was high at the career summit. “There was a line that wrapped around one of the cargo plane hangars, which is a very large building,” Buckner said. “A number of attendees stopped by the Kenworth booth and showed interest in learning about the company and our open positions. There was also a lot of interest in the W990 we had staged at the event. I think it was fun for people to compare a modern Class 8 commercial truck with equipment that’s used in the military — it’s very different. We received a lot of compliments about the styling of the truck and in-cab technology, such as the new 15-inch digital display.” Buckner was one of several Kenworth employees on hand to discuss employment opportunities and provide information about Kenworth to event attendees. Prior to joining Kenworth in 2018, Buckner spent seven years in active duty with the U.S. Navy as a submariner. His most recent deployment was to Afghanistan in 2017. Buckner has also served a combined 12 years in the U.S. Navy reserves and currently ranks as captain. With Kenworth, Buckner supervises a team of design engineers for hoods and bumpers of Kenworth’s Class 8 trucks. At the career summit, Buckner met with several qualified candidates for open engineering positions within Kenworth. The company was taking applications ranging from open positions at the Kenworth Renton manufacturing plant, to engineering, HR, and marketing opportunities at company headquarters in Kirkland, Wash. Across Kenworth’s manufacturing plants in Renton and Chillicothe, Ohio and its headquarters, Kenworth employs more than 150 veterans. “It’s important to have career events for veterans transitioning from active duty to civilian life,” Buckner said. “They’re especially helpful for those that don’t quite know what they want to do post-military life. Working with Kenworth, I get to help design components for trucks that I see on the road every day and that help keep the economy moving. I think that’s pretty cool. It’s been a great experience working for Kenworth.” In addition to supporting veteran career events, Kenworth is a sponsor for the “Transition Trucking: Driving For Excellence” program. The program helps to find America’s top rookie military veteran driver who has made the successful transition from active duty to driving for a commercial fleet. Kenworth will provide the top award for the seventh consecutive year — a Kenworth T680 Next Gen equipped with a 76-inch sleeper and the complete PACCAR Powertrain featuring the PACCAR MX-13 engine, PACCAR TX-12 automated transmission, and PACCAR DX-40 tandem rear axles. There are currently 11 driver finalists up for the award. The winner will be announced in December in Washington, D.C.

DENVER, Colo. and COLUMBUS, Ind. — DAT Freight & Analytics and ACT Research have entered into an agreement that “will enhance the service offerings of both organizations,” according to a news release. “By far, DAT maintains the largest database of truckload transactions than any other marketplace in the industry,” said Tim Denoyer, vice president and senior analyst at ACT Research. With more than 500-million loads posted each year, DAT iQ provides information on spot and contract rates through a database of $137 billion in annual market transactions. “Joining forces to couple the power of DAT’s highly regarded RateView data, with ACT’s strategic forecasting services, will enhance our offerings to the industry,” said Kenny Vieth, president of ACT Research. ACT Research uses proprietary Class 8 equipment population and driver analysis, with award-winning economic forecasting, to predict DAT rates over a 2- to 3-year window. “We add value by applying our expertise in freight volume and capacity dynamics to predict where rates are headed in the future. The depth and breadth of DAT’s data will help us to further refine our forecasting accuracy,” Denoyer said. ACT’s Q2’22 forecasts for DAT spot rates, net fuel, from a year out, were 98.7% accurate in the ACT Freight Forecast. The standard deviation of this data set on a quarterly basis is 19%. Both Adamo and Denoyer will be on stage at DATCON22, DAT’s annual user conference for transportation and logistics professionals on Oct. 5-7. The event will be held in Austin, Texas, at the AT&T Hotel and Conference Center and include workshops, networking events and topical guest sessions. For more information about DATCON22, click here. “ACT Research provides a critical service to the industry,” said Ken Adamo, DAT chief of analytics. “We’re excited about how our collaboration will enhance their spot and contract rate forecasting to benefit shippers, carriers, brokers, and all stakeholders alike.”