Increasing Costs Put Pressure On Trucking to Seek Higher Rates
A booming economy generated strong demand for freight hauling, but rising costs for fuel, equipment, insurance and driver wages took a toll on many fleets in 1999.
The mid-year shut down of two of the biggest less-than-truckload freight carriers – NationsWay Transport Service and Preston Trucking Co. – gave a boost to the remaining LTL carriers, especially in the long-haul segment of the industry, while regional and interregional carriers, such as American Freightways, continued to grow briskly.
Truckload carriers were stymied by a shortage of truck drivers, and rapidly rising costs forced leading carriers, such as Swift Transportation and U.S. Xpress Enterprises, to ask shippers for higher rates.
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USFreightways Corp., the parent of a group of regional LTL carriers, continued its diversification program by acquiring reverse logistics provider Processors Unlimited and two freight forwarders in Puerto Rico.
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For the full story, see the Jan. 10 print edition of Transport Topics. Subscribe today.
