Rising Rates, Fuel Surcharges Lead to Fewer Carrier Failures
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ewer trucking companies failed during 2003, as the industry gained few new members and existing players did a better job of recouping high fuel costs and raising freight rates, according to market analysts.
Even as trucking faced continued consolidation — mainly through mergers and acquisitions — 21% fewer motor carriers closed their doors last year than in 2002, marking the smallest number of failures since 1999.
About 1,850 trucking companies failed in 2003, compared with 2,345 in 2002 and 3,990 in 2001, said transportation analyst Donald Broughton of A.G. Edwards & Sons, St. Louis.
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