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Truckers Grapple With Rising Diesel Costs And High-Interest Rates

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Truckload carriers anticipate a more balanced market heading into 2024, signaling the end of a cycle, though a significant peak season this year remains unlikely.

Carriers like Schneider National and Werner Enterprises see the trucking market moving toward equilibrium after a prolonged period of imbalance.

“I think there will be some signs of seasonal activity across September, October, November,” Schneider National CFO Steve Bruffett said at a Morgan Stanley investor conference Tuesday in Dana Point, California. Management from Werner Enterprises echoed a similar outlook at the event. Derek Leathers, the company’s chairman and CEO, said the “overcapacity marketplace coupled with overstocked inventories” has passed.

Werner is expecting to see some type of peak this year but it has a tough comparison to a year ago, which benefited from a decent amount of project freight.

 

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