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CH Robinson losing the headline war - the plaintiffs' bar has noticed

Recap: on September 23, six family-owned trucking companies filed a RICO complaint (here's my previous analysis) against CH Robinson and Total Quality Logistics in the Eastern District of Texas. Among them were Stevens Trucking, Western Flyer Express and Freymiller. The complaint alleges wire fraud, forced labor and a scheme to route freight through chameleon carriers that undercut compliant fleets. Within a week FreightWaves, Land Line, CDLLife and Law360 had all run it and... ... the most quotable line in ...

Analysis: CH Robinson + RXO - the market weighs it up

Key takeaway: RXO is forecast to earn about 2 cents of Ebitda on each dollar of revenue this year against about 6 cents at CH Robinson, and the $300m of cost synergies - net savings from combining the two freight brokers - management is targeting would more than close the difference. Shareholders are weighing the payoff against the debt and new shares that come with the deal and the legal uncertainty around it. CH Robinson (CHRW) proudly announced yesterday that ...

Airfreight rates edge up in September

Airfreight rates edged up in September as the air cargo market headed towards its fourth-quarter peak season. Figures from data provider TAC Index show that rates on two key trade lanes - Hong Kong-North America and Hong Kong-Europe - both increased during the month. Average rates - combined spot and contract prices - paid by forwarders from Hong Kong to North America increased slightly to $7.02 per kg during the month compared with $6.98 per kg in August. From Hong Kong to Europe, there was an increase from $4.58 per kg to $4.80 per kg. The increases reflect the start of a gradual increase in demand at this time of year as companies start to add to their inventories ahead of the fourth-quarter peak season. Compared with last year, rates from Hong Kong to North America were up 31% while from Hong Kong to Europe they were up 8.8%. The higher rates than a year ago reflect higher jet fuel prices as a result of the Middle East conflict. Rates to North America grew ahead of those to Europe as AI-related infrastructure demand has boomed to the US this year. Meanwhile, volumes from Asia to Europe have come under pressure due to the European Union's introduction of a charge of €3 per package for shipments valued at less than €150, targeting e-commerce. Early data for the first few days of October appears to show that the rate increase accelerated as the fourth quarter got underway and ahead of the Golden Week celebration in China that runs from 1 to 7 October. The global Baltic Air Freight Index calculated by TAC jumped by 5% over seven days to October 5, leaving it up 25.5% from 12 months earlier. Rates are higher than a year-ago due to the US-Iran conflict and the impact on jet fuel prices, as well as buoyant demand on certain trade routes fuelled by data centre-related volumes. "That sort of jump was not unexpected after rates had been edging up slightly throughout September, but far from keeping pace yet with surging jet fuel prices," TAC said, pointing out that jet fuel prices are up more than 100% year on year. The index of outbound routes from Hong Kong last week rose 3% week on week to leave it ahead by 22.3% year on year, TAC said in its weekly market update. Outbound Shanghai gained 2.2% week on week to leave it at 18.3% year on year. "Rates elsewhere out of East Asia were more mixed, with gains week on week out of Japan and Seoul - but falls on lanes from Taiwan," TAC said. "Likewise out of Southeast Asia, with gains from Vietnam - though not on lanes from Hanoi to Europe - and falls on lanes from Bangkok. BAI Spot from India was also falling back slightly over the week - though overall rates from India were a little higher again."