TransForce’s Post

Small trucking companies continue to leave the market. Will this adversely impact you? About 9,000 small trucking firms left the market April leaving more than 93,000 carriers still active. The carrier loss slowed in the more recent months, but it is still a net loss and not a net gain. That sounds like a large loss... 8.8%. But, in those 93,000 remaining trucking firms, there are major carriers with many more power units per carrier than the 9,000 lost carriers had. So, while it is unfavorable to lose the smaller local carriers which often offer quick response and flexibility, the overall carrier capacity is likely not that great (my assumption not cited in this article). What are you seeing in your market? Do you use smaller carriers? Do you prefer smaller carriers to larger carriers? https://lnkd.in/gd5pqx6a

Encouraging signs for the trucking industry! The slowdown in carrier exits and continued new entrants suggest potential market stabilization. While economic pressures remain, this trend points towards a more positive outlook for rates and overall industry health. #TruckingIndustry #MarketStability #CautiouslyOptimistic #TruckingIndustry #MarketRecovery

Carrier Exits Slow Down The trucking industry witnessed a notable decrease in the rate of company exits during May and June 2024, marking a potential shift towards market stabilization. The FMCSA data indicates that while economic pressures like high fuel costs and low spot market rates persist, fewer carriers are choosing to exit the market compared to the earlier part of the year. Some Key Facts: • Fewer Carrier Exits: Significant slowdown in the rate of trucking companies leaving the business in May and June 2024. • Market Rebalancing: This trend indicates a potential stabilization and rebalancing within the trucking industry. • Economic Pressures: Despite ongoing economic pressures, fewer carriers are exiting the market compared to previous months. • Resilient New Entrants: New carrier authorizations show resilience, suggesting optimism among new market players. • Freight Demand Growth: Freight demand showed positive growth in Q1 2024, hinting at a recovery in the industry. • Capacity Adjustments: Ongoing capacity adjustments are essential for improving future rate stability and market conditions. This slowdown in revocations suggests a rebalancing of market forces, which could lead to more stable rates and improved conditions for carriers moving forward. Furthermore, the slight increase in new carrier authorizations demonstrates resilience and optimism among new entrants, contributing to a cautiously optimistic outlook for the industry. #TruckingIndustry #Logistics #FMCSA #CarrierExits #SupplyChain #Transportation #EconomicTrends #FreightMarket

https://lnkd.in/gjSu3TjD A talking point on this article is that smaller carriers are driving the industry growth. Also, tender rejection rates climbing back above 4% again.

Carrier exits in August were not as steep as earlier months, suggesting potential stabilization in the trucking market, according to a report by Motive analyzing federal data. #trucking #ltl #mergersandacquisitions #bankruptcies https://lnkd.in/gyFb8uZK

Around 9,000 trucking businesses left the market in April, but that rate of exits lessened in May and June, according to Federal Motor Carrier Safety Administration data compiled by Trucking Dive. #trucking #truckingindustry #freight #logistics #supplychain

There's a lot of back and forth with this freight market. Prepare for anything by utilizing Ditat's TMS! https://lnkd.in/gG9uGGRp

Load and truck posts dropped on the DAT One network, as businesses took time off for Independence Day. While load-to-truck ratios fell, national averages for dry van and reefer freight largely stayed flat on the spot market🇺🇸➡️ https://bit.ly/4aNf78i #DATTrendlines #TruckingIndustryTrends

"As the trucking industry continues to slog through its toughest downturn since the 2008 financial crisis, analysts have pointed out a slow shift in market trends. Hard-hit carriers have been buoyed by these glimmers of hope in recent months, but the timing of a true market upswing remains difficult to pin down. This much-anticipated market shift is likely inevitable, although its timing and shape is still unclear. Some experts expected to see a significant rate jump by the fourth quarter of 2023, but high-frequency data housed in FreightWaves SONAR paints a different picture. In a recent article, FreightWaves CEO Craig Fuller pointed to SONAR’s Carrier Details Total Trucking Authorities index to shed some light on the ongoing freight recession. In short, Fuller found that — if the current rate of trucking company closures continues — it will take another 78 weeks for capacity to be back in line with historical norms. (Source: https://buff.ly/49VgnGi #freightdispatcher #dispatch #womenintrucking #trucking #dispatcher #logistics #freightdispatch #freight #truckdispatcher #trucks #truckdriver #truckingindustry #freightdispatchers #freightdispatching #truckdispatching #freightdispatchservice #viral #elitecompliancesolutions"

Carrier attrition remains a significant concern in the logistics and freight industry, driven by a mix of economic pressures and market dynamics. In 2023, the industry saw a net loss of approximately 29,000 carriers, and this trend is expected to continue well into 2024 due to an over saturation of capacity and insufficient demand. The primary reasons for the decline in load-to-truck ratios include cautious consumer spending and shippers' hesitation to re-order due to excess inventory levels.Despite these challenges, there are signs of a potential market correction as the industry moves towards equilibrium, with fewer carriers potentially leading to a more balanced supply-demand scenario in the future.