A Roller Coaster Market for Truckload Carriers

The market is looking good for truckload carriers, but there are still concerns about keeping up with loads, driver retention, equipment, and inflation.

"Volumes are continuing to go through the roof," says Greg Orr, President of CFI. He reports that at one point they were having to turn down 3,000 loads per week.

A big issue when it comes to being able to take on new loads is driver retention and equipment. When a truck breaks down it can take weeks to repair, "sometimes drivers are put into hotels for weeks at a time," says Orr. "Others are just quitting, saying that they're tired of it and they're just not going to take it anymore." And that's just one example of current driver retention problems.

Another issue companies are facing is increased costs. "Budgeting in 2022 is the craziest year in my 25 years in the business," said Orr. "I still see capacity being challenged, but at the same time I continue to hear in the industry that everyone's expenses are going up - tolls, equipment, insurance and there's a $1,500 tractor surcharge from OEMs" adds Orr.

Although the market is looking good for carriers, there are big obstacles to overcome to keep drivers behind the wheel and stay profitable. Hear more from Greg and other industry executives who are working through a market we've never seen before.

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