Stifels’ Larkin: Driver shortage is – and will stay – trucking’s top challenge + MORE Recent Trucking News Sep 17th

More and more companies seem to have gone broke the first quarter of this year and that makes filling the capacity needs even harder. Truck capacity shortage is good for those who are able to remain in business, it allows rates to climb to upper levels in a lot of cases. There still will be the slow rate areas as they still gouge the truckers knowing they can keep the low dollar trucks loaded. Drivers who own their own equipment know these areas and usually do not go there with inbound freight. However, I live in one of those areas so I do not have much choice in the matter.
A lot of freight is based on what contracts have been negotiated ahead of time and what the market will bear. Most loads I get are sub par $2.00 a mile and less, but I am able to book loads in the $2.50 a mile range if I do my networking and make sure I book a week ahead of my arrival if possible.
Companies who have negotiated long term contracts for a certain rate and are not able to keep up with driver turnovers will suffer and be in jeopardy for the long term. Keeping the contract solvent is their bottom line and that is why drivers get treated poorly along the way. It is all a numbers game with the large carriers and they really could care less about you even if you are with them for years. I own my own truck and am leased to one of the largest safe carriers in the nation, that helps a lot.
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Financial analyst John Larkin, managing director & head of Transportation Capital Markets Research Stifel, puts the driver shortage square at the top of his list of the “the ten largest factors likely to shape transportation and logistics in the future.” And he contends the shortage will only be “magnified” over time…

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