Freight Rates Fell 40 Percent — Here Is Who Caused It And Who Paid For It

In 2022, dry van spot rates fell 40 percent in under 12 months. By 2024, 88,000 trucking authorities had been revoked, Yellow Corporation had filed the largest freight bankruptcy in U.S. history, and a $3.8 billion company called Convoy had shut down overnight. This video documents the documented decisions behind the freight rate crash, who held contract rates above spot for 45 months, and who absorbed every dollar of loss. If you know what actually happened, drop it below. #FreightRecession #TruckingIndustry #TheTruckFiles SOURCES: DAT Freight and Analytics — Dry van linehaul spot rate data, 2021 through 2024. dat.com Cass Information Systems — Cass Freight Index, expenditures and shipments components, 2021 through 2024. cassinfo.com FTR Transportation Intelligence — FMCSA authority approval data, 2021 carrier surge analysis. ftrintel.com Federal Motor Carrier Safety Administration (FMCSA) — Motor carrier authority revocation data, 2022 through 2024. fmcsa.dot.gov American Transportation Research Institute (ATRI) — 2024 Operational Costs of Trucking report. atri-online.org Fortune — "Trucking Giant Yellow's Bankruptcy Punches a $5 Billion Hole in the Industry, With 30,000 Jobs at Stake." fortune.com, July 31, 2023. Fortune — "The Largest Freight Bankruptcy in History Punched a $5 Billion Hole in the Economy." fortune.com, November 2, 2023. Trucking Dive — FMCSA authority approval records, 2021. truckingdive.com The Trucker — FTR carrier registration data, new carrier surge 2021 through 2022. thetrucker.com Bristlemoon Capital — DAT and FMCSA data analysis on rate decline and carrier exits. bristlemoonresearch.com Convoy Inc. — CEO Dan Lewis statement to employees, October 2023.