While freight rates may have reached a new high this year, so did the cost of many other things. For example, parts for their semi-trucks, groceries, and/or eating out, etc. Both the major factors, such as fuel, and minor details must be taken into account.
An owner-operator’s overhead cost for day-to-day operation is significantly outweighing the freight rates. Now with the recent inflation, the public is not purchasing as much anymore, which will definitely drive down the amount of freight available. Unfortunately, it’s looking like a tough road ahead for everyone in the industry.
-Katie Johansen, Transport Dispatcher
Read more about the market here.