LTL Sector Continues To Suffer
Public carrier tonnage (which represents ~64% of industry tonnage) declined 1.9% year-on-year in the third quarter, and the less than truckload (LTL) freight market has deteriorated significantly since mid-summer, says a report from Stifel Nicolaus.
Turning normal seasonality on its head, for the first time in the history of many carriers, absolute tonnage in July was greater than August which was greater than September, said analyst David Ross. September was particularly weak in 2008 due to the freezing of the credit markets and significant decline in manufacturing activity, he added. “We have heard from shippers and carriers that October was at least as bad.”
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© 2012 Penton Media Inc.
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