• ITVI.USA
    15,496.720
    85.590
    0.6%
  • OTLT.USA
    2.743
    0.003
    0.1%
  • OTRI.USA
    21.110
    0.000
    0%
  • OTVI.USA
    15,466.390
    90.520
    0.6%
  • TSTOPVRPM.ATLPHL
    3.300
    0.000
    0%
  • TSTOPVRPM.CHIATL
    3.140
    0.190
    6.4%
  • TSTOPVRPM.DALLAX
    1.590
    0.150
    10.4%
  • TSTOPVRPM.LAXDAL
    3.330
    0.020
    0.6%
  • TSTOPVRPM.PHLCHI
    2.170
    0.020
    0.9%
  • TSTOPVRPM.LAXSEA
    4.080
    0.130
    3.3%
  • WAIT.USA
    125.000
    -1.000
    -0.8%
  • ITVI.USA
    15,496.720
    85.590
    0.6%
  • OTLT.USA
    2.743
    0.003
    0.1%
  • OTRI.USA
    21.110
    0.000
    0%
  • OTVI.USA
    15,466.390
    90.520
    0.6%
  • TSTOPVRPM.ATLPHL
    3.300
    0.000
    0%
  • TSTOPVRPM.CHIATL
    3.140
    0.190
    6.4%
  • TSTOPVRPM.DALLAX
    1.590
    0.150
    10.4%
  • TSTOPVRPM.LAXDAL
    3.330
    0.020
    0.6%
  • TSTOPVRPM.PHLCHI
    2.170
    0.020
    0.9%
  • TSTOPVRPM.LAXSEA
    4.080
    0.130
    3.3%
  • WAIT.USA
    125.000
    -1.000
    -0.8%
FreightWaves TVMidday Market UpdateNews

Texas power and two-way contracts — Midday Market Update

An inside look at the failures of the Lone Star State’s power grid

Michael Vincent welcomed Kaylee Nix to the Midday Market Update set as his new co-host for this episode. They explored the failures of Texas’ energy infrastructure during February’s winter storm and the world of ocean shipping contracts through the eyes of the New York Shipping Exchange (NYSHEX).

In headlines, Andrew Cox highlighted a deep view of the LTL freight market and talked about two Canadian trucking companies shutting down, as well as what union decertification means for a California trucking company.

Cox plugged his latest Point of Sale newsletter, which focuses on the impacts of direct-to-consumer strategy being adapted by some businesses recently. Point of Sale airs every Wednesday at 1:30 p.m. ET on FreightWavesTV. 

Nix and Vincent kept the first MMU guest in the family and welcomed Kaylee’s dad, Keith Nix, to the show for a firsthand account of the recent Texas power crisis. Keith Nix is the vice president of technical services and system reliability for Texas New Mexico Power, which is responsible for power transmission and distribution across parts of Texas. 

He explained what happened to make the grid fail how it did: too much power demand, not enough power supply, and the inability of power generators to produce more supply to meet that demand. He also talked about how the grid needs to be improved and how infrastructure needs to be upgraded to keep up with demands of the future. 

Vincent and Kaylee Nix brought on the CEO and founder of NYSHEX, Gordon Downes, who talked about the container shipping crisis and what it will take to bust the bottleneck open: time. Downes said ocean shippers need to be patient and wait for the rest of the freight industry to provide support and move freight out of those ports.

Downes made it clear that as contracting season heats up, shippers should change their approach to negotiating and aim to secure two-way contracts to maximize efficiency while preserving flexibility for future market changes. 

You can find more Midday Market Update episodes and recaps for all our live podcasts here.

Subscribe to our Youtube

Follow us on Twitter

Like us on Facebook

Kaylee Nix

Kaylee Nix is a meteorologist and reporter for FreightWaves. She joined the company in November of 2020 after spending two years as a broadcast meteorologist for a local television channel in Chattanooga, Tennessee. Kaylee graduated from the University of Oklahoma in 2018 and immediately made the Tennessee Valley her home. Kaylee creates written summaries of FreightWaves live podcasts and cultivates the social media for FreightWaves TV.

We are glad you’re enjoying the content

Sign up for a free FreightWaves account today for unlimited access to all of our latest content

By signing in for the first time, I give consent for FreightWaves to send me event updates and news. I can unsubscribe from these emails at any time. For more information please see our Privacy Policy.