Why more trucking companies will go bankrupt:
- “Spot rates excluding total estimated fuel costs are only 3% higher than they were in the spring of 2019. It doesn’t take an economist to figure that operating costs have grown more than 3% over the past four years, meaning the spot market consists largely of loads moving at a loss.” Source: Freightwaves.
- Capacity > demand (That’s why spot rates have been dropping)
- 11,800 warehouse and storage jobs have gone away between Feb and March — another maker of declining shipments.
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