Trucking Oversupply Is Weighing on Carriers' Earnings Outlooks
A push by retailers and manufacturers to cut shipping costs is sending trucking industry hopes of an earnings rebound into a skid.
Freight rates have been retreating for much of the year in the trucking sector's spot market. Analysts and industry executives say longer-term contract prices are also declining as shipping customers focus on keeping inventories lean and logistics spending tight.
DAT Solutions, a load board matching trucks to shippers, estimates the average contract rate of $2.47 per mile in April is 17 cents behind the year-ago level...
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