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Trucking Comments * USA - Execs talk on reasons for another weak Peak season
Washington,DC,USA -Logistics Management, by John D. Schulz -17 Sept 2008: -- The peak is weak, according to many trucking executives accustomed to being able to generate higher rates during the usual September-to-December surge in freight demand, which has not occurred the past three years the way it historically has... For survivors such as U.S. Xpress, Chattanooga, Tenn, the peak season is still profitable, just not the way it was from the period between 2002 and 2006 when truckers routinely were able to garner contractual rate increases of anywhere from 4 to 10 percent... But because there have been more than 2,000 closings or bankruptcies of truck fleets with at least five trucks since the first of the year, the survivors are able to pick up profitable loads in areas, where in the past they may not have been... In August, C.W. Johnson, a Louisville, Ky.-based carrier shut down in large part because a bank foreclosed on an $8.3 million loan. There could be hundreds of similar shutdowns over the next few quarters... Analysts say this closer scrutiny of marginal truckers will continue until the nation exits its financial crisis and until the values of truckers’ equipment and trailers have stabilized...
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