I'm a damaged freight inspector for a national company, and our business has fallen WAY off. With trucks idle, fuel prices through the roof ($4.69 here locally), material is sitting in warehouses or on docks, and very little is moving.. I've been doing these inspections for 15 years, and this has been the slowest year ever. (It's sure put a dent in my range time and ammo inventory......)Which is why Owner Operators are parking their trucks. I just hired 4 this week. Its getting hard for them to stay afloat.
And freight rates are down. I was involved with a customer who dropped their freight rates to $1.80 per mile. Headhaul lane to Texas. Where truckers will be lucky to get a buck per mile on the backhaul. O/O are doing it just to try and make a dollar and they are dropping like flies. They are making $3000 and spending $2000 of that on fuel alone. Living on Ramen Noodles and Sardines while wondering how they are going to make their truck payments.
Speaking of equipment costs? Have you paid that any attention? I have 18 2023 International LT625's and 10
KW 990's coming. (9 of the KW's have delivered) $180,000 a piece. And they are still coming in by ones and twos. They are still having trouble getting parts to make them. The KW's sat completed for nearly a month waiting on a hood latch part.