John Coogan

So the fuel prices get passed through, but the economy is doing well, and so prices for dry van spot rates are increasing.

As he said, because of the stronger freight market over the last few months, the nationwide company is increasing its fleet of more than 10,500 trucks and expanding its pool of about 11,000 drivers.

This has been a supply driven freight recovery as opposed to a demand driven freight recovery.

Turnaround comes after four years in which carriers have been squeezed by a combination of too many trucks on the road and not enough loads.

Drivers rushed into the industry during the pandemic.

So there was a boom in demand.

online ordering, shipping, all the different things that happened during COVID.

Consumer demand drove freight rates to record highs.

Rates plummeted in 2022, forcing hundreds of thousands of smaller carriers out of business.

Many truckers held on, even as costs for driver's equipment and insurance rose.

The exodus accelerated over the past year.

And trucking specialists say the industry has finally found an equilibrium where the supply of trucks is low enough to lift rates, which will, of course, bring more trucks into the market.

And rates will adjust, of course.

But higher fuel prices due to the war have pushed up trucking companies' expenses.

But operators are largely passing along those costs to their customers.

Set number two.

Seven days.

So they're shifting.

One hour notice.

And that was on June 6th.