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Truckstop and Bloomberg Intelligence Survey Shows Carriers Remain Cautious Heading into 2023

Brian Morrill, Waterway Trucking

This article was originally published on PR Newswire.

BOISE, Idaho, Jan. 31, 2023 /PRNewswire/ — Carriers are cautious about the outlook for demand and rates over the next six months as the spot market rebalances from a surge in capacity, according to the latest Bloomberg | Truckstop survey, which polled owner-operators and small fleets.

“Spot rates are not in-line with the higher costs facing carriers, which is weighing on owner-operators’ profits,” said Lee Klaskow, senior freight transportation and logistics analyst at Bloomberg Intelligence. “We expect the market to continue to rebalance with rates improving as early as 2Q.”

The Bloomberg | Truckstop 4Q22 Truckload Survey shows:

  • Owner-operators still split over demand: Owner-operators remain split about where demand is heading. About 30% of respondents expect load growth to decline over the next six months.
  • Rates expectations split among bulls and bears: Sentiment is split among owner-operators about where rates are headed. About 33% of respondents expect the rates to rise in the next six months, while 32% expect them to fall. Sentiment is slightly better than in 3Q.
  • Spot truckload demand skids in 4Q: 76% of respondents noticed a drop in demand, a drop from 3Q, with about 65% saying volume growth was down from a year earlier.

“Owner-operators polled for this survey remain cautious, but spot rates are expected to show improvement as early as 2Q” said Kendra Tucker, chief executive officer, Truckstop. “Truckstop provides owner-operators with the technology and solutions they need to keep their business moving and their bottom line growing regardless of the market conditions.”

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 113. It consists of dry-van, flatbed, temperature-controlled and specialized/diversified carriers. Of the respondents, 66% operate just one tractor.

The complete survey is available to Bloomberg Terminal subscribers via BI .

About Truckstop

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