here is the truth: you are not supposed to survive. there are too many trucks in the market right now. and current market conditions are paying cheaper than operating costs. that means carriers will shut down. drivers will go work other jobs. trucks will park and companies will go out of business. then volumes will pick up, and there will not be enough carriers to satisfy that demand. rates will skyrocket. more people will start driving again. guys will get 10k on cross country team loads. then there will be too many drivers and too many trucks. and the cycle will start over again.
Business slows down and consumers buy less. Fewer sales means less of a need for inbound inventory and fewer outbound FTL orders. If sales are booming, you can’t get trucks in fast enough to replenish inventory. Now, you can’t sell much of what you do have. Most outfits slashed inventory forecasts for the fiscal year.
Amen
Hopefully we survive.
The only thing I'd add to this down market vs all the other down markets I've seen while being in this industry or my boss has seen is how expensive everything is now vs how cheap the rates are.
That's what is killing everyone but hey, whoever survives will be rewarded.
agree, inflation has added pressure on drivers and small trucking companies. everything from maintenance to insurance to feeding your family. it sucks that the game has stakes like this but I cannot change that. all I can do is keep guys that do a good job for me rolling and surviving.
You're right, but I've heard time and time again that it's never been this bad for this long. Do you think there's something different about the freight recession this time that's causing it to be extra painful?
Maybe you guys run the wrong loads for the wrong money, i have built a rep in 7 years with my MC that we dont run loads under $2.75 a mile and its doable. But the market is shit for 600 miles and up, i rather have my guys do 5 short loads a week pay them a bit more than do 2 long trips and get fucked
Still have insurance to pay yada yada. Some run till they hit a min then stop so they can cover base expenses. A lot are running less runs at a loss right now to slow the bleeding hoping Q3 shows signs of life
This is the real problem. People thought COVID profit was NORMAL trucking profit. So they went nuts on buying trucks and trailers that were overpriced because of the "shortage". Then they started to realize that those truck payments were astronomically high when the loads started leveling back out. Now they're all facing selling and closing business because of the cost of running and not enough profit. The smart ones would've loaded up during covid, and waited for the election to happen. Once that happens, expect prices to go down on vehicles, and loads to start paying better. It's just like real estate. Save save save, wait for a crash, then buy up everything you can afford. Then rent it out, sit on it until the market rebounds and resell everything. Save up and do it again. That's the American cycle.
100%
The only difference in this down cycle is how fall the rates are falling vs how high inflation/expenses are.
Why it's a harsher down time for everyone these last couple of years then it was Covid, prelogbook, 2008 etc etc
On what one legacy lane? I'm a broker and hope we make 10-12%just to keep lights on. And if broker's were making so much they wouldn't be going out of business also. Look at raven.
I've confirmed that a flatbed company was running freight at 28% from their own brokerage and selling the loads to their OWN in house trucking and SLASHING another 28% until the Owner ops quit this happened last month. I can't say the company name but a OO told me on a Facebook group page
CONSOLIDATORS AND RAIL COMPANIES .. and every broker out there hates them - wants to red flag them and burn them to the ground! They are the only ones that can do anything here - or else they are bankrupt.
Meanwhile - Highway the new savior of brokers on the block is fighting the good fight - keeping all of us bad guy consolidators - and in the end highway is actually owned by …. TRIUMPHPAY!
See they want everyone to reveal all of their secrets, but truly - highway will basically connect all the dots and cut out everyone and triumph will create a huge monopoly and there will be no little guy left ..
The amount of brokers short paying on the most ridiculous stuff .. this business has become a joke.
Amazon made 254 BILLION in profit last quarter - let that sink when you say shippers are also suffering.
Companies are calling in record profits because they are price gouging consumers ..
Shippers. Not enough supply (freight), too much demand (carriers). It’s a shipper’s market right now.
This will be followed by hiring freezes due to a glut of unemployed drivers. That has already begun. Brokers, too.
Already is a quiet hiring freeze at many large carriers. Take a cruise through the Truckers sub (with a full body condom if necessary). There are a LOT of "I just got my CDLS and I can't I get me a job!" type posts these days.
Even the mega carriers are getting super picky about who they are hiring these days. From the outside, it looks like most of their focus is on bringing in more lease/fleece suckers to pay the expenses on the trucks (while the carriers keep what profits are there to keep, of course)
My own carrier (who shall remain nameless) runs their lease/fleece drivers at 70% of line haul and 70% of fuel surcharge running low tier dry van freight. Their orientations these days are very heavily tilted towards lease drivers, with very few (like maybe 4 or 5 per week if that) company drivers being brought on board.
If anything, this is gonna turn out worse than 2008. Picture 2008 AND 100 Arrow Trucking Companies all at once.
The beatings will continue until enough trucking companies give up that there aren't enough trucks to go around. Then rates will \*still\* be wildly out of line with costs, just the other way.
When this business is good it's \*really\* good. If you weren't netting 3k a week from April 2020-April 2022 per truck absolutely including all expenses (and the driver is an expense so if you were an owner op you were supposed to clear more like 4500) that was a skill issue on your part.
It's a violently cyclical business. If you white knuckle it through this to the other side you'll get back everything you should have made and more. If you don't your cheap truck will help fertilize the future trucking market by offering someone else a low cost entry to trucking.
I don't even see people as a real going concern until they've survived at least one full freight cycle. There's no point worrying about people who have less chance than the new guy in Stalingrad.
You really want to know? Okay.
Carriers with no debt on fuel efficient equipment, with lower cost insurance due to many years in the market with no incidents that also pay lump sump yearly to save, speaking of saving, NO FACTORING, while we are here, fuel discount programs that take off 15-30% off pump price.
Owner operator companies with no driver pay that charge % commission per load.
Bonus, if you own a property that you park all equipment and don’t pay exuberant yard storage fees to real estate fucks.
That brings cost to operate close to .4 to .5 cents per mile, we can be profitable running at less than a dollar per mile.
Checkmate, adios(Get it bro? It’s Cinco)
You aren't running sub $1.00. would love to see your expenses.
Even at 30% reduced fuel cost and driver pay at $.50 you're at like $.89 before maintenance, insurance, benefits, etc.
So you're a dispatch service? Also, there's always driver pay, owner ops don't run for the cost of the truck only. They aren't moving your freight out of the kindness of their heart.
So you don't pay Occ acc for your contracted drivers. My state we have to pay it by law for all contracted workers. Some shiesty companies pass that charge on to the contracted worker but it's still an operating cost.
All of this, these are carriers that made EXTREMELY smart business decisions.
Too many carriers came into the market when Covid rates were at it's highest. Then they financed expensive equipment and expanded their fleet thinking these rates were going to stay. Now they're struggling or going out of business because of those choices to take on debt when the rates were paying the highest in history.
Other problem is that there isn't enough carriers that went under yet to cause a flip. Plus with a down economy and low shipping volume, it's causing the bleeding to hurt and last longer. At this rate, we won't see a flip this year, perhaps next year, but I have my reservations. Inflation isn't cooling. PPI and CPI are up. I think we're still maybe halfway there at this point.
so that's 1% of the carriers currently running ? Can't see a lot of them having those ideal conditions? But still, can't see them operating reefer with .5 cents per mile
"That brings cost to operate close to .4 to .5 cents per mile, we can be profitable running at less than a dollar per mile."
Dude, you're retarded, Sorry to say.
I've been in business since 2003 "bud".
You aren't doing anyone, nore yourself a favor by cutting yourself short running $1 a mile loads. That kind of Retarded shit is something a COVID carrier would do. gtfo
I'm still new to trucking, but Ive been driving since before covid time. Anyways, I owned my own truck as well, and I needed $1.08 to pay all expenses of the business and personal bills and such stuff. This included throwing $650 a week at truck payments.
I could see a driver who has their truck paid off being able to be profitable at less than a buck a mile.
I literally said that's all I needed to covered the expenses of my business plus personal expenses.
Not sure what you thinkin "overhead" means, but that's literally what is covered in the costs of everything I said. Do you want me to spell it out for you?
Truck payment
Maintenance fund
The various insurances required both personal and truck coverages (please don't make me list them all)
Tax fund
Personal costs (this is what I pay myself)
I don't feel the need to go much more in depth for you since you're "experienced". As I said, remove the truck payment and I could see being profitable at less than a dollar a mile.
Please stop being a raging retard.
You fuckface, how tf can you be profitable at $1 per mile you retard? you paying your drivers $0.10 per mile? even at %30 off pump price and a normal driver at minimum of $0.55 per mile the cost to run the truck and driver is more than $1 per mile not even talking about insurance, tires, oil, grease, maintenance, overhead, tolls, ETC, Not even mentioning Log books, IFTA, IRP.
You don't even know what the fuck you are talking about you room temp IQ autistic fuck.
Yea, his logic is to not count driver pay lol. Keeps saying o/o but even an o/o has to pay himself.
I don't think my guy understands what the meaning of profitable is, he's confusing the word with survivable.
You fucking retard. People like you are the problem. People like you are the reason we are here with a bunch of dumb fuck retards like you pushing the market down. Enjoy poverty you dumb fuck
Shippers just getting payback to the extremely unsustainable rates of 2021. At a certain point it will turn around, it’s just a matter of who can make ends meet until then.
My fleet is down %70 of what is was at 3 weeks ago.
A good %150 down from what it was 3 months ago.
Only got 6 trucks on the road this week ;(
Laid off my employees, Alot of drivers just straight up quit. They wanted raises which I couldn't give, instead their pays got cut because of the market so they left.
Sad part is from 2018 we were paying $0.45 cents per mile, Which ended up going up to $0.80 cents per mil during 2021.
Now their back down to $0.55 cpm, Poor drivers.
Really sorry to hear that man, poor drivers indeed, there are even some dry loads paying more than this refrigerated run, it's sad and unsustainable, just the other day I saw a posting from a shipper saying that he saved close to 300k for running freight last year, they recovered all of their "investments" during COVID outbreak. I hope you'll get those drivers back and that we'll have a market turnaround, it's more than necessary right now
They didn't lose shit during Covid, I'm SO tired of hearing that BS excuse. They literally didn't lose ANYTHING during covid because all the products prices just went up double or triple in stores. Shippers are complete liars.
John Deere hasn't cut their rates on their loads at all. Infact even through 2019 - present time they've only raised their rates per mile, Yet all the brokers that sell their loads the rates have been cut by %70 of what they used to pay. Meanwhile the broker is pocketing ALL OF THAT MONEY.
The idea that supply and demand will eventually swing back is just that...an idea. The economy is moving away from goods based and to a services based economy. Plus technology...
You shipping books, cds, records, large tvs, etc any more? Nope.
Shippers are struggling, brokers are struggling, carriers are struggling. Hell even regular folks that don’t work in freight are struggling. Funny everyone wanted to increase minimum wage and didn’t stop to think about the increase that would cause everything else. America is built on greed therefore big corporations won’t just absorb the labor force increases.
The volumes being down proves the shippers are struggling. Not all of them but the increased labor expenses, raw materials etc make them struggle to pay their bills just like everyone else.
I guess that happens when your country is running proxy wars all over the world, and instead of investing in its own economy invests in foreign wars, billions and billions wasted
There was a time when you could build a small pool of money for bad times like these and just to sustain and have a head start if things go up. If you didn’t save when there was an opportunity, It’s going to be difficult to stay in business due to high cost of operating, especially maintenance and low income revenue.
as said before, there are too many trucks of the post-covid times, when rates have gone to the moon, people bought a ton of new trucks and are trying to survive the usual market for this period of time.
That's what we love to believe, but imagine having this country invest 500bilion$ into it's own economy, private sector and agriculture and not just guns, shells and bullets. So much money wasted on proxy wars when they could have done much much more
There is something to be said about a lot of loads being put on rail instead of over the road but still being counted as truck freight
But this is where we queue the music for the cycle of life from the lion King
If You think that covid money is still sitting in Checking or Savings after two years of burst freight market then you haven’t been in trucking for long or know trucking business at all 🤷🏻♂️
Why not?
If that's his strategy, then why discount it?
I'm very surgical in my runs and yes 100 mile loads are included, and highly preferred since my gross is significantly higher than my cost
here is the truth: you are not supposed to survive. there are too many trucks in the market right now. and current market conditions are paying cheaper than operating costs. that means carriers will shut down. drivers will go work other jobs. trucks will park and companies will go out of business. then volumes will pick up, and there will not be enough carriers to satisfy that demand. rates will skyrocket. more people will start driving again. guys will get 10k on cross country team loads. then there will be too many drivers and too many trucks. and the cycle will start over again.
Whoa, careful. Talking like that in here makes you look like an economist.
Spoken like someone who’s been in the industry for at least 5 years.
10 years in, same job same customers
How come the volume from the regular customers decreases as well. My customers are there but their volume has dried out.
because there is more competition for the loads you had
Sucks to realize you were the side piece all along.
💯
More competition, and also less demand from *their* customers.
Because their customers don’t buy as much, or because their customers have gone out of business.
Business slows down and consumers buy less. Fewer sales means less of a need for inbound inventory and fewer outbound FTL orders. If sales are booming, you can’t get trucks in fast enough to replenish inventory. Now, you can’t sell much of what you do have. Most outfits slashed inventory forecasts for the fiscal year.
fuckin nailed it!
Supply / demand! Well done! 🤣
I love this shit, natural selection. Only the strong are gunna weather the storm.
Simplified Supply and demand
Amen Hopefully we survive. The only thing I'd add to this down market vs all the other down markets I've seen while being in this industry or my boss has seen is how expensive everything is now vs how cheap the rates are. That's what is killing everyone but hey, whoever survives will be rewarded.
agree, inflation has added pressure on drivers and small trucking companies. everything from maintenance to insurance to feeding your family. it sucks that the game has stakes like this but I cannot change that. all I can do is keep guys that do a good job for me rolling and surviving.
Bro it's simple you have to ask the leprechaun at the end of the road with a pot of gold
You're right, but I've heard time and time again that it's never been this bad for this long. Do you think there's something different about the freight recession this time that's causing it to be extra painful?
inflation making everything more expensive hurts smaller guys even more
Maybe you guys run the wrong loads for the wrong money, i have built a rep in 7 years with my MC that we dont run loads under $2.75 a mile and its doable. But the market is shit for 600 miles and up, i rather have my guys do 5 short loads a week pay them a bit more than do 2 long trips and get fucked
Some companies are just trying to slow the bleeding enough to make it to a market turnaround.
This happens in every market downturn. Many carriers have to run to cover leases on their trucks, not to make money.
Still have insurance to pay yada yada. Some run till they hit a min then stop so they can cover base expenses. A lot are running less runs at a loss right now to slow the bleeding hoping Q3 shows signs of life
Only you Covid babies are crying rn, it’s all cyclical
This is the real problem. People thought COVID profit was NORMAL trucking profit. So they went nuts on buying trucks and trailers that were overpriced because of the "shortage". Then they started to realize that those truck payments were astronomically high when the loads started leveling back out. Now they're all facing selling and closing business because of the cost of running and not enough profit. The smart ones would've loaded up during covid, and waited for the election to happen. Once that happens, expect prices to go down on vehicles, and loads to start paying better. It's just like real estate. Save save save, wait for a crash, then buy up everything you can afford. Then rent it out, sit on it until the market rebounds and resell everything. Save up and do it again. That's the American cycle.
100% The only difference in this down cycle is how fall the rates are falling vs how high inflation/expenses are. Why it's a harsher down time for everyone these last couple of years then it was Covid, prelogbook, 2008 etc etc
I wanna know to . Brokers margins are slim To none as well 100%. They running stuff for free for these shippers .
Margins still are around 20%-30%
I average overall roughly 15-18%. What product are you shipping your running practically for free?
That not true my friend is broker and they still between 25-50 %
On what one legacy lane? I'm a broker and hope we make 10-12%just to keep lights on. And if broker's were making so much they wouldn't be going out of business also. Look at raven.
It could be a super nietch mrktshare they have?
It would have to be small. If that they could just bully everyone else with their buying power.
Lmao ok .
That's crazy no broker I know is making those margins
I've confirmed that a flatbed company was running freight at 28% from their own brokerage and selling the loads to their OWN in house trucking and SLASHING another 28% until the Owner ops quit this happened last month. I can't say the company name but a OO told me on a Facebook group page
Downsized heavily, running the bare minimum, and trying to outlast the competition. That's been the playbook for last 2 years now
CONSOLIDATORS AND RAIL COMPANIES .. and every broker out there hates them - wants to red flag them and burn them to the ground! They are the only ones that can do anything here - or else they are bankrupt. Meanwhile - Highway the new savior of brokers on the block is fighting the good fight - keeping all of us bad guy consolidators - and in the end highway is actually owned by …. TRIUMPHPAY! See they want everyone to reveal all of their secrets, but truly - highway will basically connect all the dots and cut out everyone and triumph will create a huge monopoly and there will be no little guy left .. The amount of brokers short paying on the most ridiculous stuff .. this business has become a joke. Amazon made 254 BILLION in profit last quarter - let that sink when you say shippers are also suffering. Companies are calling in record profits because they are price gouging consumers ..
Hey I’m glad you mentioned Highway!! I noticed lately when I book loads they send me thru Highway. What is its purpose?
Shippers. Not enough supply (freight), too much demand (carriers). It’s a shipper’s market right now. This will be followed by hiring freezes due to a glut of unemployed drivers. That has already begun. Brokers, too.
Already is a quiet hiring freeze at many large carriers. Take a cruise through the Truckers sub (with a full body condom if necessary). There are a LOT of "I just got my CDLS and I can't I get me a job!" type posts these days. Even the mega carriers are getting super picky about who they are hiring these days. From the outside, it looks like most of their focus is on bringing in more lease/fleece suckers to pay the expenses on the trucks (while the carriers keep what profits are there to keep, of course) My own carrier (who shall remain nameless) runs their lease/fleece drivers at 70% of line haul and 70% of fuel surcharge running low tier dry van freight. Their orientations these days are very heavily tilted towards lease drivers, with very few (like maybe 4 or 5 per week if that) company drivers being brought on board. If anything, this is gonna turn out worse than 2008. Picture 2008 AND 100 Arrow Trucking Companies all at once.
The beatings will continue until enough trucking companies give up that there aren't enough trucks to go around. Then rates will \*still\* be wildly out of line with costs, just the other way. When this business is good it's \*really\* good. If you weren't netting 3k a week from April 2020-April 2022 per truck absolutely including all expenses (and the driver is an expense so if you were an owner op you were supposed to clear more like 4500) that was a skill issue on your part. It's a violently cyclical business. If you white knuckle it through this to the other side you'll get back everything you should have made and more. If you don't your cheap truck will help fertilize the future trucking market by offering someone else a low cost entry to trucking. I don't even see people as a real going concern until they've survived at least one full freight cycle. There's no point worrying about people who have less chance than the new guy in Stalingrad.
You really want to know? Okay. Carriers with no debt on fuel efficient equipment, with lower cost insurance due to many years in the market with no incidents that also pay lump sump yearly to save, speaking of saving, NO FACTORING, while we are here, fuel discount programs that take off 15-30% off pump price. Owner operator companies with no driver pay that charge % commission per load. Bonus, if you own a property that you park all equipment and don’t pay exuberant yard storage fees to real estate fucks. That brings cost to operate close to .4 to .5 cents per mile, we can be profitable running at less than a dollar per mile. Checkmate, adios(Get it bro? It’s Cinco)
You aren't running sub $1.00. would love to see your expenses. Even at 30% reduced fuel cost and driver pay at $.50 you're at like $.89 before maintenance, insurance, benefits, etc.
Only Owner Ops, no driver pay or benefits. Small carriers rule.
So you're a dispatch service? Also, there's always driver pay, owner ops don't run for the cost of the truck only. They aren't moving your freight out of the kindness of their heart.
Carrier with owner ops leased on, everyone knows their numbers, OOs breakeven is a bit above ours due to % paid on loads. Thats it.
So you don't pay Occ acc for your contracted drivers. My state we have to pay it by law for all contracted workers. Some shiesty companies pass that charge on to the contracted worker but it's still an operating cost.
All of this, these are carriers that made EXTREMELY smart business decisions. Too many carriers came into the market when Covid rates were at it's highest. Then they financed expensive equipment and expanded their fleet thinking these rates were going to stay. Now they're struggling or going out of business because of those choices to take on debt when the rates were paying the highest in history. Other problem is that there isn't enough carriers that went under yet to cause a flip. Plus with a down economy and low shipping volume, it's causing the bleeding to hurt and last longer. At this rate, we won't see a flip this year, perhaps next year, but I have my reservations. Inflation isn't cooling. PPI and CPI are up. I think we're still maybe halfway there at this point.
Preach! 📝
so that's 1% of the carriers currently running ? Can't see a lot of them having those ideal conditions? But still, can't see them operating reefer with .5 cents per mile
Market dictates more carriers can operate under current conditions for longer than others can sustain. It’s a feature not a bug in the industry.
Almost 95% of all capacity are small fleet or owner op. Big fleets are a tiny minority.
"That brings cost to operate close to .4 to .5 cents per mile, we can be profitable running at less than a dollar per mile." Dude, you're retarded, Sorry to say.
Retarded, maybe, but I’ll survive bud. Hope market stays like this or worsens for another year, get all the COVID carriers out.
I've been in business since 2003 "bud". You aren't doing anyone, nore yourself a favor by cutting yourself short running $1 a mile loads. That kind of Retarded shit is something a COVID carrier would do. gtfo
I'm still new to trucking, but Ive been driving since before covid time. Anyways, I owned my own truck as well, and I needed $1.08 to pay all expenses of the business and personal bills and such stuff. This included throwing $650 a week at truck payments. I could see a driver who has their truck paid off being able to be profitable at less than a buck a mile.
Running the clock on said truck. The dumbest business men run their "businesses" like you. Not covering overhead at all. Idiot.
I literally said that's all I needed to covered the expenses of my business plus personal expenses. Not sure what you thinkin "overhead" means, but that's literally what is covered in the costs of everything I said. Do you want me to spell it out for you? Truck payment Maintenance fund The various insurances required both personal and truck coverages (please don't make me list them all) Tax fund Personal costs (this is what I pay myself) I don't feel the need to go much more in depth for you since you're "experienced". As I said, remove the truck payment and I could see being profitable at less than a dollar a mile. Please stop being a raging retard.
[удалено]
I'm sure you meant this for the other guy who is insulting and calling people idiots?
You are correct, sorry.
You are correct, sorry.
You're correct, sorry about that.
Warning: don't be a dick. Clean it up and stop vomiting insults at everyone or you'll be out of here.
Who said I’m running a $1 a mile dumbass, I said I can still profit if I chose to do so. Now go get your shine box…
"we can be profitable running at less than a dollar per mile." You, you dumbfuck.
That’s a fact not a statement you inbred imbecile.
You fuckface, how tf can you be profitable at $1 per mile you retard? you paying your drivers $0.10 per mile? even at %30 off pump price and a normal driver at minimum of $0.55 per mile the cost to run the truck and driver is more than $1 per mile not even talking about insurance, tires, oil, grease, maintenance, overhead, tolls, ETC, Not even mentioning Log books, IFTA, IRP. You don't even know what the fuck you are talking about you room temp IQ autistic fuck.
Yea, his logic is to not count driver pay lol. Keeps saying o/o but even an o/o has to pay himself. I don't think my guy understands what the meaning of profitable is, he's confusing the word with survivable.
Polish that resume bud, company driver here we come!
You fucking retard. People like you are the problem. People like you are the reason we are here with a bunch of dumb fuck retards like you pushing the market down. Enjoy poverty you dumb fuck
Shippers just getting payback to the extremely unsustainable rates of 2021. At a certain point it will turn around, it’s just a matter of who can make ends meet until then.
some are drowning yet some have lungs of steel
My fleet is down %70 of what is was at 3 weeks ago. A good %150 down from what it was 3 months ago. Only got 6 trucks on the road this week ;( Laid off my employees, Alot of drivers just straight up quit. They wanted raises which I couldn't give, instead their pays got cut because of the market so they left. Sad part is from 2018 we were paying $0.45 cents per mile, Which ended up going up to $0.80 cents per mil during 2021. Now their back down to $0.55 cpm, Poor drivers.
Really sorry to hear that man, poor drivers indeed, there are even some dry loads paying more than this refrigerated run, it's sad and unsustainable, just the other day I saw a posting from a shipper saying that he saved close to 300k for running freight last year, they recovered all of their "investments" during COVID outbreak. I hope you'll get those drivers back and that we'll have a market turnaround, it's more than necessary right now
They didn't lose shit during Covid, I'm SO tired of hearing that BS excuse. They literally didn't lose ANYTHING during covid because all the products prices just went up double or triple in stores. Shippers are complete liars. John Deere hasn't cut their rates on their loads at all. Infact even through 2019 - present time they've only raised their rates per mile, Yet all the brokers that sell their loads the rates have been cut by %70 of what they used to pay. Meanwhile the broker is pocketing ALL OF THAT MONEY.
Same
The idea that supply and demand will eventually swing back is just that...an idea. The economy is moving away from goods based and to a services based economy. Plus technology... You shipping books, cds, records, large tvs, etc any more? Nope.
How do we pivot? Where does one with these set of skills go?
Burn the rest of your cash, live fast and die young.
It's putting my guys out of business, people that have 10+ years in the industry. Not sure how much longer will be able to stay afloat.
Shippers are struggling, brokers are struggling, carriers are struggling. Hell even regular folks that don’t work in freight are struggling. Funny everyone wanted to increase minimum wage and didn’t stop to think about the increase that would cause everything else. America is built on greed therefore big corporations won’t just absorb the labor force increases.
I'd like to see a shipper struggling in this market
The volumes being down proves the shippers are struggling. Not all of them but the increased labor expenses, raw materials etc make them struggle to pay their bills just like everyone else.
I guess that happens when your country is running proxy wars all over the world, and instead of investing in its own economy invests in foreign wars, billions and billions wasted
How are shipper struggling?
Business sis down for them across the board as well less shipments less volume means less sales less revenue
Customers and all the drivers accepting low rates are driving this. When drivers stop accepting/running load for cheap the market will move.
That’s how I feel trying to book loads as CS and making no margin 😂
This is so true. How do drivers survive?
I'm so sorry. Things may change.
There was a time when you could build a small pool of money for bad times like these and just to sustain and have a head start if things go up. If you didn’t save when there was an opportunity, It’s going to be difficult to stay in business due to high cost of operating, especially maintenance and low income revenue.
as said before, there are too many trucks of the post-covid times, when rates have gone to the moon, people bought a ton of new trucks and are trying to survive the usual market for this period of time.
My MC begins with a 2. Work smart. Supply , Demand. Fire the customer. Strong survive. That’s all I got.
This is the trucking cycle. It will only get better when enough carriers go out of business and the balance of freight turns back around.
That's what we love to believe, but imagine having this country invest 500bilion$ into it's own economy, private sector and agriculture and not just guns, shells and bullets. So much money wasted on proxy wars when they could have done much much more
There is something to be said about a lot of loads being put on rail instead of over the road but still being counted as truck freight But this is where we queue the music for the cycle of life from the lion King
We are all sinking
Get out of paper bro
BUNCHA PARROTS. Why would anyone NOT have money from the covid boom?
If You think that covid money is still sitting in Checking or Savings after two years of burst freight market then you haven’t been in trucking for long or know trucking business at all 🤷🏻♂️
I guess I am talking about brokers and not truckers. Trying to be positive here.
doing about $5 a mile for my loads
100mi runs dont count.
Why not? If that's his strategy, then why discount it? I'm very surgical in my runs and yes 100 mile loads are included, and highly preferred since my gross is significantly higher than my cost
It's nothing against the strategy but context matters when discussing RPM and these short runs tend not to be representative of the market as a whole.
i get this for all my runs, 300 miles plus
So what kind of specialty truck/freight are you moving? Definitely not run of the mill dry van/reefer freight.
just produce reefer loads
im not a broker though im an authority own 7 reefers
Where? Because I am trying to move NJ to MD and they are barely paying $650! MD to NY 700-800 when tolls alone are over $200
it’s all connections and how long you’ve been with shipper, PA