Results from TCP’s second quarter 2013 Business Expectations Survey were highlighted in a recent article from FleetOwner.com.
Truck capacity is tightening, but many carriers are still not earning a rate of return large enough to warrant an expansion of their fleets. Stagnant cargo volumes combined with higher operating and equipment costs will likely force carriers to hold back expansion efforts for the foreseeable future.
Read the full article here.
TheTrucker.com reports that, with new hours of service regulations, in effect on July 1st, approximately 75% of carriers are expecting utilization to lower. The way shippers work to minimize the impact of these changes will also affect this tightening capacity.
“This potential reduction in truck capacity is hitting at the same time as spot rates are climbing, reflecting a stronger demand in June. Rates will likely increase further in the months ahead,” noted Richard Mikes, TCP Partner.
Full article here.
A recent conference call hosted by Stifel featured Transport Capital Partners Managing Partner, Dr. Richard Mikes. In the call, Mikes suggests that fairly flat demand and supply point to an upcoming capacity shortfall in the truckload industry. Furthermore, tightening supply and demand is increasing the potential for future rate increases. To read the full transcript, click here.
Powers & Stinson reports that TCP’s most recent Business Expectations Survey reflects a growing optimism among those in the transportation industry. More carriers now expect volumes to remain steady, or even grow, ending a 3-year trend of negative volume growth expectations. Additionally, a large majority of carriers are anticipating rates to increase over the next 12 months. Read the full post.
There is an increasingly positive outlook for volume and rate growth in the industry. Both TheTrucker.com and TruckingInfo.com recently shared encouraging data from TCP’s 2nd quarter industry survey. The survey indicated that eighty percent of all carriers have seen rates hold steady over the past quarter. Furthering optimism, seventy-three percent of carriers are expecting rates to increase over the next year.
“Even with modest improvement in freight demand, carriers are anticipating much-needed higher rates from customers,” says Steven Dutro, TCP partner.
TheTrucker.com full article.
TruckingInfo.com full article.
Today’s Trucking references data from the 2nd quarter TCP Business Expectations Survey to suggest a more positive direction for the industry. In this survey, half of all carriers reported that they expect volumes to increase. These results finally break a three-year trend of lowered second quarter outlooks. Read the full article here.
TCP managing partner Richard Mikes contributed an article to the most recent issue of the Iowa Motor Truck Association‘s quarterly Lifeliner Magazine. In the article, Mikes highlights data from last quarter’s TCP Business Expectations Survey showing increasing, if hesitant, optimism for volume and rate expectations in the industry. Trucking is warming up, but at what pace? For more, click here to download a .pdf of the full article.
TruckNews.com has shared results from TCP’s First Quarter 2013 Business Expectations Survey that display a sizable increase in the adoption of electronic driver logs (e-logs) by carriers. Canadian fleet management company, Shaw Tracking is pleased to see that the benefits of implementing e-log use are being recognized by more and more fleets owners and drivers. Full article here.
An article from fleetowner.com reports that with rates still largely flat, much of the TL segment appears to be stalling on expanding capacity. However, a trucking capacity crunch could still be offset by capacity growth within the private fleet segment. The posting sites comments by TCP partner, Richard Mikes from his recent webinar hosted by Wall Street investment firm, Stifel Nicolaus. To read the full article, click here.
Freight brokerage is still playing an important role for carriers, reports Bulk Transporter. Despite an increase of brokered freight services in the last three months, 62% of carriers are using fewer brokers than six months ago. Small carriers (under $25 million in revenue) report a higher use of brokers than larger carriers, most likely due to lower lane density and smaller marketing staffs. The article is based on TCP’s recent Business Expectations Survey. Click here to read the full article.
TCP’s Second Quarter Business Expectations Survey will launch on Thursday, May 2nd. If you are a carrier interested in participating, please visit our industry survey page to learn more.
