News and happenings in YRC world. Tonnage down, change of ops in the air and closing terminals.

YRC Q3 update bucks improving industry trends
The trend of year-over-year tonnage improvement from the less-than-truckload (LTL) carriers in August ends with YRC Worldwide’s (NASDAQ: YRCW) midquarter report. In a press release issued after the market closed on Wednesday, the company reported that tonnage declines actually accelerated during the quarter, down 6.4% in August, following a 4.3% decline in July.
The report was worse than the updates from competitors Old Dominion Freight Line (NASDAQ: ODFL) and SAIA (NASDAQ: SAIA), which reported August tonnage increases of 2.4% and 0.5%, respectively. Before the market opened on Wednesday, ArcBest Corp. (NASDAQ: ARCB) reported a total tonnage-per-day increase of 3.5% for August, with LTL tonnage up by a high-single-digit percentage.
For the first two months of the third quarter, YRC’s shipments per day were down 7.6%, which was partially offset by a 2.4% increase in weight per shipment compared to the same period of 2019. Revenue per hundredweight, or yield, is down 4.9% quarter-to-date.
In an Aug. 25 letter to Teamsters National Freight Director Ernie Soehl, the carrier said it was formally filing for a change of operations under the national master freight agreement to make the distribution center in Memphis, Tennessee, a containerization location. The letter stated that rail freight at the facility will need to be placed into containers as procedure changes at Class I railroad BNSF Railway (Berkshire Hathaway, NYSE: BRK.B) will no longer allow the shipment of trailers on railcars.
YRC said it had already purchased 640 containers so far and plans to add 340 more in the “very near future” to accommodate the change. The operation is expected to handle 500 shipments daily.