2023 TRUCKING PERSPECTIVES
In a year of looser capacity but higher operating costs, Inbound Logistics provides an exclusive look at the issues that are top-of-mind for motor carriers and shippers. by Merrill Douglas
T he trucking market—in some ways—is more congenial than it has been since the onset of the pandemic. Supply chains no longer suffer from massive bottlenecks at ports and other crucial nodes, and capacity is easier for truckers to provide and shippers to secure. But truckers and their customers still face big challenges, especially from in ation, a tight labor market, and high interest rates. “The rising cost of interest rates has had a hugely negative effect, as it stagnates our industry and, more importantly, signi cantly increases the cost of transportation,” says Mike Moran, president, Moran Transportation Corp. in Elk Grove Village, Illinois. “We have already been hit with rising costs in the form of wage increase, healthcare increases, auto/
umbrella insurance coverage increases, fuel, and truck/trailer asset replacement increases,” he adds. On top of all that, high interest rates make it even harder for trucking companies to invest in the new equipment they need to operate ef ciently. The industry also saw transportation giant Yellow Corp. le for bankruptcy this year, done in by labor troubles and mounting debt. What are the biggest concerns trucking companies and their customers face today? What has gotten easier, and what triggers the biggest headaches? With our annual survey of truckers and shippers, Inbound Logistics provides a look at how these companies are responding to the mix of conditions that de ne the current environment.
42 Inbound Logistics • September 2023
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