As group news editor Jeff Berman so deftly captured in his truckload (TL) roundtable last month, many of the challenges that were facing the TL market last year—lower contract and spot rates as well as excess capacity—continue to hover over carriers this year. Indeed, continued good news for shippers. In short, the TL market appears to be struck in neutral.
“The old ‘pendulum swing’ analogy is alive and well and it certainly feels like a shippers’ market,” says Berman. “However, that’s not likely to last through the end of the year. Should demand levels head up and inventories continue to trend down, that presents a scenario that truckload carriers would welcome and triggers a return to pricing power in tandem with tighter capacity.”
And while we’re not there yet, we can rest assured that the 35 carriers taking home Quest for Quality gold in 2023 have continued to deliver top-notch service for their customers regardless of the challenges put in their way over the past 12 months.
In fact, for the second year in a row, the winners in the TL category posted some of the most consistent weighted scores across all of this year’s categories.