Lost another big one

[DMiller]

Yellow and YRC has locked out employees, bankruptcy proceedings start this week.

 

[Vetech63]

Yikes!!!!

 

[CM1995]

Wow. Come to think of it I haven't seen one of their LTL's in the industrial park our yard is located in. All the other big names run daily.

 

[crane operator]

20,000 Union teamsters and another 13,000 management or so. 1,000 in their offices in Kansas City got let go friday.

Just read a chart showing current rates down 20-50% from a year ago for freight. Pandemic prices didn't hold.

Also yellow still owes Uncle Sam for a $700 million load it got as a "vital" business/ bailout a couple years ago.

 

[Truck Shop]

National average just for operating expenses as of a month ago were hovering at $1.68 to $1.72
per mile. In order for a company to survive they need to see $2.50 a mile. Labor is the biggest cost
then fuel tires rate fifth inline. With all the LTL freight going on it's not hard to see what's happening.

 

[CM1995]

Also just read there is 8-10% excess capacity in the LTL market something I didn't know either. By product of a cooling economy I guess.

 

[Vetech63]

LTL?

 

[mks]

Less than Truckload Load

 

[crane operator]

This is the chart I saw posted. Just shows some year over year figures from DAT load board.

 

[CM1995]

LTL?

Palleted loads with a lift gate usually, although I've shipped small skid steer attachments as well. Ordered track pads and hardware from Atlanta for our 321 several years ago and came LTL.

 

[Truck Shop]

With rates as high as those have been, people have cut back on long distance shipped items.
70% of it is dry cartage.

 

[Truck Shop]

LTL?

LTL covers anything-frozen, dry cartage, flatbed. The old BS term was backhaul for owner operators.

 

[Vetech63]

Is a hot shot service considered an LTL? I have a friend of mine that runs one nationwide out of Oklahoma

 

[CM1995]

Is a hot shot service considered an LTL? I have a friend of mine that runs one nationwide out of Oklahoma

Yeah I guess it would be but I'm no trucker.

 

[DMiller]

Hotshot is and isn't LTL, is generally Emergency or Special needs immediate delivery loads. LTL means there are dozens or more single ship loads in one haul, a manhole cover or a few small valves, a pallet of boxed small parts or a engine on a skid.

 

[Coaldust]

They say Yellow is worth more dead than alive, with their realestate holdings. 300 terminals located in expensive places.

 

[joe--h]

FreightWaves: Logistics News and Supply Chain Data

FreightWaves is the most trusted provider of global supply chain market intelligence. Our high-frequency price, demand, and capacity data and analysis allow our customers to benchmark, analyze, monitor and forecast the global physical economy.

www.freightwaves.com

 

[Coaldust]

It’s going to leave a scar. Supposedly 1.1 billion in rolling stock. What’s that going to do?

 

[Truck Shop]

They say Yellow is worth more dead than alive, with their realestate holdings. 300 terminals located in expensive places.

When CF & PIE went under same thing only on a smaller scale because of land values at the time.
*

LTL means there are dozens or more single ship loads in one haul, a manhole cover or a few small valves, a pallet of boxed small parts or a engine on a skid.

Hauling produce was in many cases was LTL with all the pickups & drops to mom & pop produce outlets.
Called a mixer load. Normally the only straight full loads went to chain grocery. A truck could have
as many as 12 pickups in California.

 

[Truck Shop]

It’s going to leave a scar. Supposedly 1.1 billion in rolling stock. What’s that going to do?

For the trucks everyone in construction can buy a cheap OTR and convert to dump. Just think
of how many yellow and blue dumps will be running around. Problem is the maintenance on
those was getting short changed towards the end.