How to Tackle Truck Driver Shortage in the Refrigerated Sector
Capacity is a word that’s constantly on the minds of many companies. Is there enough capacity available to handle my freight? When will capacity become tight? What strategies can we implement to prepare for and actively cope with a capacity shortage?
From 2004-2008, shippers experienced a significant capacity crunch, and in 2009-2012, the economic downturn drove many trucking companies out of business, leaving behind a shortage of over-the-road (OTR) truck drivers. The market has since partially bounced back, with 2014 being a profitable year for trucking. However, it was expected that overall trucking rates would go down as oil and fuel prices decreased, but that hasn’t been the case, particularly in the refrigerated trucking sector.
Right now there is a significant lack of refrigerated truckload capacity, and all those in the market are actively competing for the limited refrigerated capacity that is available.