MD-11 Grounding Push, Schneider Rate Recovery, & Port Houston's $48M Grant | The Morning Minute

In this episode, we kick things off by examining a Kentucky congressman's demand to permanently ground an aging cargo jet following a catastrophic Louisville crash that killed fourteen people. Representative Morgan McGarvey has officially petitioned the FAA to permanently shut down the entire McDonnell Douglas MD-11 fleet after UPS Flight 2976's left engine detached during takeoff, igniting a fire and slamming the aircraft into buildings. While UPS has retired its remaining twenty-eight MD-11s, FedEx is ramping up preparations to reactivate all twenty-seven of its MD-11 freighters as soon as the FAA lifts its current flight ban. Next, we explore the truckload sector where multimodal transportation provider Schneider National is aggressively targeting significant rate recovery during the current bid season with price renewals at the highest levels since 2021. Management is explicitly seeking mid- to high-single-digit one-way contract rate increases and double-digit increases with transactional shippers, as pricing at those accounts fell the most during the prolonged downturn. Finally, we head to the Gulf Coast where Port Houston has secured a forty-eight-million-dollar federal grant through the U.S. Maritime Administration to expand and modernize its Bayport Container Terminal. The project will support construction of a new container yard and exit gate designed to increase capacity by about four hundred forty thousand TEUs, reduce chronic truck congestion, and save millions of hours over the life of the project. Follow the FreightWaves NOW Podcast Other FreightWaves Shows Learn more about your ad choices. Visit megaphone.fm/adchoices