Truckload Carriers Seek Rate Hikes
Some of the nation’s biggest truckload carriers, facing rising costs for equipment, drivers, fuel and insurance, are beginning to ask shippers to pay more for freight deliveries.
Trucking executives say they have no choice. Just about everything they need to run their business — from tractors and trailers to diesel fuel — has gone up in price, while at the same time a tight labor market is keeping the clamps on driver availability and thus limiting the growth of freight-hauling capacity.
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Not since 1994 has the prospect of sizeable rate increases for truckload carriers been so favorable, according to industry analysts.
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The combination of limited capacity and high demand is a recipe for higher rates.
