摘要: |
This is a great time to be a less-than-truckload (LTL) carrier. Unlike their truckload (TL) competitors where pricing discipline is scant because of ease of market entry, the top 10 LTL carriers control about 75% of their total $43.6 billion market. And these top players are a "who's who" of technology giants such as FedEx Freight and newly rechristened TForce Freight, the $3.1 billion former UPS Freight that was recently sold to Canada-based conglomerate TFI International for $800 million. They're all following market profitability leader in Old Dominion Freight Line (ODFL), and a savvy multi-dimensional player like XPO Logistics as well as a revitalized Yellow Corp. That latter giant, Yellow, has been salvaged into profitability by a $700 million loan from the federal government under the Coronavirus Aid, Relief and Economic Security (CARES) Act. Finally, throw in a bunch of highly competitive, well-run private carriers such as Pitt Ohio, Estes Express, Southeastern, Saia, and Averitt Express among others, and it's a well-positioned market-for carriers, at least. |