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Werner Enterprises' CEO Derek Leathers believes the worst of the freight downcycle is over, despite ongoing challenges and volatile fuel costs.
After a challenging period for Werner Enterprises, Chairman and CEO Derek Leathers optimistically predicts that the worst of the freight downcycle may be behind. Leathers provides insights:
Leathers acknowledges the endurance of smaller carriers and mentions Werner’s cost-saving initiatives of over $40 million, a significant portion of which have already been enacted. As the market recovers, Leathers assures that Werner will remember which shippers honored their agreements during tough times.
Source: FreightWaves
The consensus has the freight market around its bottom, so the only place to go is up. But the July Cass Freight Index suggests the climb isn't happening yet, with shipments -8.9%, truckload -12.7%, inferred rates -17% & expenditures -24.4% from last year https://t.co/U0GGI116XY pic.twitter.com/OFhLU4RITy
— InTek Logistics (@InTekLogistics) August 14, 2023
Plus: holiday trucking shutdowns, a broker liability bill facing pushback, DOT threatening funding over failed CDL audits, and more in today’s newsletter.
Plus: a Wyoming pipeline blast snarls a key freight corridor, brokers double down on U.S.–Mexico, truckload hauls shrink to record lows, and more in today’s newsletter.
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I have spoken to many candidates, and I see a common theme. Freight Fatigue Logistics folks are worn down by
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