Open Road Acquires Double-Stack, HOS Waiver for Fertilizer Haulers, & GlobalX Sues Ascent | The Morning Minute

In this episode, we kick things off with a major private equity play in the intermodal freight space. Open Road Ventures announced it has acquired Double-Stack Logistics, an intermodal freight broker with direct rail relationships and a fleet of over 150 containers. The company specializes in converting freight that typically moves over the road into intermodal shipments, and the backing will allow Double-Stack to expand its service offering and North American footprint. Next, we explore a massive break for drivers hauling fertilizer as FMCSA grants hours-of-service waivers across 34 states to ease a critical squeeze on fertilizer supplies. Running from May 26 through August 26, the waiver allows drivers to operate for sixteen hours in a twenty-four-hour period—far beyond the standard eleven-hour limit—and eliminates the electronic logging device requirement, giving farmers the narrow window they need to get fertilizer applied during spring planting season. Finally, we unpack a bitter legal battle in the air cargo charter market where GlobalX Airlines is suing Ascent Global Logistics for $30 million, alleging the former investment partner steered charter work to its own subsidiary. According to the complaint, Ascent assigned hundreds of charters per month worth up to $15 million to USA Jet Airlines while only referring about $1 million in flights to GlobalX over three years, a stark breach of their exclusive freight brokerage agreement. Follow the FreightWaves NOW Podcast Other FreightWaves Shows Learn more about your ad choices. Visit megaphone.fm/adchoices