Truckstop and Bloomberg Intelligence Survey Shows Rebalancing of the Owner-Operator Market
BOISE, Idaho, Aug. 9, 2022 - Recession and inflation concerns are weighing on the profitability of carriers in the spot market, according to the latest Bloomberg Intelligence | Truckstop survey of owner operators. The outlook for volume and growth has been less optimistic over the past three months but shows a rebalancing of the owner-operator market.
"Spot rates have been extremely volatile over the past 12 months and bullishness has started to wane among carriers," said Lee Klaskow, senior freight transportation and logistics analyst at Bloomberg Intelligence. "But we believe current conditions will force a balancing in the market and lead to rate stabilization."
The Bloomberg | Truckstop 2Q22 Truckload Survey shows:
"We know that fuel costs and inflation concerns weigh on the profitability of carriers operating in the spot market," said Kendra Tucker, chief executive officer, Truckstop. "That is exactly why we continue to provide customers with mission-critical software that keeps their business moving forward and profitable, even in a down spot market."
The Bloomberg | Truckstop survey of owner-operators and small fleets provides timely channel checks into the health of the spot market. The sample size was 140, consists of dry-van, flatbed, temperature-controlled and specialized/diversified carriers. Of the respondents, 65% operate just one tractor.
The complete survey is available to Bloomberg Terminal subscribers via BI .
Truckstop is a trusted partner for carriers, brokers and shippers – empowering the freight community through a platform of innovative solutions for the entire freight lifecycle to increase efficiency, automate processes, and accelerate growth. As one of the industry's largest neutral freight marketplaces, Truckstop provides the customer service as well as scale of quality loads and trucks to give customers of all sizes, whether on the road or in the office, the transparency and freedom to build lasting relationships and grow their businesses. To learn how Truckstop is helping move the freight community forward, visit www.truckstop.com.