Abundant Freight and On-Again, Off-Again Hours Rule Made News

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reight capacity, highway funding and a historic revision of the driver hours-of-service rules were the big stories for trucking in 2004.

With economic growth fueling the supply of freight in need of hauling — and most carriers keeping a lid on fleet expansion — business conditions improved significantly for most, but not all, motor carriers.

Two regional less-than-truckload carriers in the Northeast — USF Red Star and Guaranteed Overnight Delivery — shut their doors, while other carriers struggled to find enough drivers and stay ahead of record-high fuel prices.

Truckload carriers were able to increase rates an average of 5% to 7% to offset higher operating costs, which included driver pay raises, higher fuel charges and increases in the cost of equipment. Insurance premiums, which had risen sharply over the past few years, showed signs of leveling off during the year.

For the full story, see the Dec. 20 edition of Transport Topics. Subscribe today.