The Daily Dash is a quick look at what’s happening in the freight ecosystem. In today’s edition, we highlight a big merger between two huge 3PL providers, NextNav’s merger with a SPAC and more.
The High Five
1. Third-party logistics providers Worldwide Express LLC and GlobalTranz Enterprises LLC said Friday that they have merged in a multibillion-dollar deal arranged by a consortium led by CVC Capital Partners, which is providing most of the equity to consummate it. Mark Solomon with the breaking news
2. NextNav’s primary product is a next-generation GPS system that provides far more spatial data than a standard system, such as where in a building an item is located. NextNav’s next step is going public through a merger with a special purpose acquisition company. John Kingston’s story
3. Data released Friday from Cass Information Systems shows the freight industry advanced at a blistering pace during May. The Cass Freight Index logged the highest-ever growth rates in the shipments and expenditures components of the dataset’s more than 30-year history. Todd Maiden with more
4. An industry group focused on international trade is warning that air and rail freight transportation could be negatively impacted if tensions escalate between Western allies and Belarus over the forced landing of a passenger jet and the arrest of a dissident journalist last month. Eric Kulisch’s story
5. A fight between two brothers over their jointly owned trucking business is nearing a bitter end after three years of litigation and arbitration. So bitter that one brother is funding an investigation. Paul and Rana Randhawa have been embroiled in a legal dispute since 2018 over the Ontario, Canada-based Randhawa Group of Companies. Nate Tabak’s story
Five more to check out
The light load: Confessions of a transportation tenderfoot
Hot Shots: Tornado sighting, train collision, unmanned midair fueling
Same-day versus next-day delivery: Which is more sustainable?
Union Pacific plans to add sidings in strategic areas
FreightWaves Haul of Fame: Stevens Transport has done well for 40 years
Brokerage Compliance Symposium
The day before F3. Every compliance issue you face - fraud exposure, carrier liability, FMCSA rules, cargo theft, insurance gaps - navigated by attorneys and operators defining best practices in a changing industry.
F3 Awards Dinner
The night before F3. FreightTech100 companies honored. FreightTech 25 and Shipper of Choice winners revealed live. Cocktail reception into dinner and live music - 300 industry leaders in one purpose-built room.
F3: Future of Freight Festival
Industry-defining keynotes, rapid-fire technology demos, and industry leaders networking in experiences across Chattanooga - plus the inaugural F3 Awards Dinner featuring the FreightTech and Shipper of Choice reveals.
The day before F3. Every compliance issue you face - fraud exposure, carrier liability, FMCSA rules, cargo theft, insurance gaps - navigated by attorneys and operators defining best practices in a changing industry.
The Signal at Chattanooga Choo Choo • Chattanooga, TN Register NowThe night before F3. FreightTech100 companies honored. FreightTech 25 and Shipper of Choice winners revealed live. Cocktail reception into dinner and live music - 300 industry leaders in one purpose-built room.
The Signal at Chattanooga Choo Choo • Chattanooga, TN Register NowIndustry-defining keynotes, rapid-fire technology demos, and industry leaders networking in experiences across Chattanooga - plus the inaugural F3 Awards Dinner featuring the FreightTech and Shipper of Choice reveals.
The Signal at Chattanooga Choo Choo • Chattanooga, TN Register Now