Freight Monday! 🚚 FedEx Freight’s preparation for a 2026 spinoff faces headwinds, with a 5.3% drop in revenue driven by a decline in tonnage and lower fuel surcharge revenues.

At the same time, the rise of "chameleon carriers" is raising concerns. Viral TikTok videos show drivers swapping truck details to avoid scrutiny, highlighting a growing issue for freight brokers. More ahead 👇

💬 More in Freight:

⚫️ FMCSA Acting Administrator Removed From Website

⚫️ Texas Nuclear Verdict Bills

⚫️ Mexico Recession Fears

⚫️ Employee Confidence Hits Record Low: Glassdoor Report

FMCSA Acting Administrator Removed From Website ✂️

Adrienne Camire's name was removed from the FMCSA website just two weeks after being appointed acting administrator on March 7. By March 21, all references to her leadership were taken down, and the reason for her departure has not been publicly explained.

Sue Lawless now appears as the agency's executive director and chief safety officer, with Jesse Elison as chief counsel. It's unclear if Camire will return to her previous role as senior advisor.

Before joining FMCSA, Camire was chief counsel to the Federal Highway Administration under Trump, with over 20 years of regulatory experience. FMCSA has seen frequent leadership turnover, with Wiley Deck previously holding the shortest tenure of five months.

Survivor Seeks $100M 💰

A survivor of a recent pile-up crash in Austin has filed a $100 million lawsuit against multiple parties. The March 13 wreck on Interstate 35 occurred when truck driver Solomun Weldekeal Araya, allegedly under the influence of central nervous system depressants, crashed into a line of stopped traffic, killing five and injuring 11. 

Nathan Jonard, a survivor, is suing over spinal injuries, broken bones, and severe cuts. His lawsuit claims Araya operated the vehicle with "absolute disregard for human life" and seeks damages for medical expenses, lost wages, and emotional suffering.

The lawsuit also targets Amazon and ZBN Transport, the company Araya worked for, accusing both of hiring him despite an alleged history of reckless driving and safety violations. Two of the crash victims remain hospitalized.

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What Else is Moving 🚚

LTL Spinoff 🚛

FedEx Freight is continuing to prepare for a 2026 spinoff, but a weak industrial economy has hindered its performance.

Revenue fell 5.3% year-over-year to $2.09 billion, driven by a 7.6% decline in tonnage. The drop was due to a 4.7% reduction in shipments and a 3.1% decrease in weight per shipment, with lower fuel surcharge revenues contributing to the downturn.

About 90% of FedEx Freight’s revenue comes from B2B transactions, and uncertainty in trade and manufacturing is weighing on the sector. FedEx’s results align with other LTL carriers, who are also facing mid- to high-single-digit tonnage declines, with Saia and ArcBest being exceptions due to their unique strategies.

LTL carriers have been underperforming, with shares down 20% due to tariff concerns and Amazon's growing role in the market. FedEx Freight’s fiscal second quarter may have marked the worst of the downturn, with management hoping for a rebound in B2B volumes.

Brie Carere, FedEx’s chief customer officer, stated that while they expect continued revenue decline in Q4, it should moderate sequentially, with a focus on increasing shipment density and weight to improve margins. Despite challenges, FedEx remains optimistic about pricing trends, including a strong capture rate on its recent rate increase.

FREIGHT SNIPPETS ✂️

🦎 Chameleon Carriers Caught | Last week, we discussed the rise of "chameleon carriers," following a viral TikTok video showing a driver swapping the name, DOT, and MC numbers on the side of his truck with a new one. This practice, where carriers repeatedly change their identity to avoid scrutiny or regulatory enforcement, has been gaining attention. Another driver was caught doing the same thing in a separate TikTok video, which was shared on the r/FreightBrokers subreddit. Watch now.

📝 Texas Nuclear Verdict Bills | Two Texas bills introduced this month aim to limit large lawsuits against trucking companies. Senate Bill 30, by Sen. Charles Schwertner, would set limits on medical expense claims in personal injury cases and allow judges to reduce jury verdicts above $1 million in wrongful death cases and $250,000 in personal injury cases. Senate Bill 39, by Sen. Brian Birdwell, would cap medical expense recovery and limit liability for trucking companies, while also tightening rules on noneconomic damages like pain and suffering. Read more.

🛑 California Border Busts | Border authorities in California made two major meth busts involving semi trucks within two days. On March 12, CBP officers at the Calexico Cargo Facility found liquid and bulk meth in a truck’s fuel tank, extracting 962.31 pounds of diesel fuel that tested positive for meth. The next day, officers discovered seven duffle bags containing 704.94 pounds of meth hidden in a truck's cab. Both incidents involved drivers attempting to enter the U.S. from Mexico. Read more.

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🏛️ Broker Transparency Period Closes | Truck drivers support access to transaction records for fairness and to prevent fraud, while brokers argue that transparency regulations are outdated. The Federal Motor Carrier Safety Administration (FMCSA) is considering a rule to strengthen broker transparency. FMCSA's proposed rule would require brokers to provide transaction records within 48 hours of a carrier's request. The comment period, extended to March 20, received about 6,900 comments. The Owner-Operator Independent Drivers Association (OOIDA) supports the rule to level the playing field, while the Transportation Intermediaries Association and some brokers oppose it, calling it "un-American." Read more.

🚛 Mexico Recession Fears | The OECD warns that Mexico’s economy could enter a recession by the end of 2025, with a projected 1.3% GDP contraction due to escalating global trade tensions and tariffs. The forecast is a sharp decline from the previously estimated 1.2% growth. The OECD attributes this downturn to trade and economic policy uncertainty, particularly U.S. tariffs on imports from Mexico and Canada, set to begin on April 2. Mexican President Claudia Sheinbaum expressed confidence, stating her administration has a plan to strengthen the economy. Meanwhile, trade volumes at Port Laredo show mixed results, with outbound truck volumes up from last year but lower than in 2023 and 2022. Read more.

📱 North Carolina's Truck Parking Tool | Charlotte, North Carolina, has launched a new mobile app to help truck drivers locate safe and authorized parking, the city announced Tuesday. The Commercial Truck Parking Tool allows drivers to search for parking lots based on their current location and provides a parking availability survey, enabling lot owners to share details like costs and amenities. The app also includes information on local truck parking ordinances, including fines and penalties for violations. Read more.

Pallets of News 🚛

Container Rates Below Lowest 2024 Levels 📉

Recent data from Freightos shows a consistent decline in container rates from Asia, dipping below the lowest levels of 2024. This drop is driven by several factors, including reduced demand after the Lunar New Year, restructuring of carrier alliances, and increased capacity.

In the Asia-Europe market, rates have fallen 11% to $2,740 per forty-foot equivalent unit (FEU), 14% lower than the previous 2024 minimum. Rates from Asia to the Mediterranean have also decreased by 9%, now under $3,800 per FEU.

This decline is attributed to a significant post-holiday demand slump, possibly worsened by pre-holiday stocking to avoid delays caused by Red Sea diversions.

Employee Confidence Hits Record Low 📊

Employee confidence reached a new low in February, dropping to its lowest point since Glassdoor began tracking sentiment in 2016, according to a March 11 report. The Glassdoor Employee Confidence Index revealed that only 44.4% of employees reported a positive outlook for the next six months.

Discussions of layoffs spiked in February, with mentions increasing by 0.3% month-over-month and 5% year-over-year, marking the highest level of layoff-related discussions since July 2020. Employees expressed concerns over job security, the stress of awaiting further layoffs, and burnout from taking on extra work after team reductions.

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