According to all our recent reports, truckload (TL) shippers are still smiling as market conditions continue to be in their favor. With low rates and excess capacity still intact, the big question is now: How long can this keep going on?
As our trucking correspondent John Schulz learned last month during his reporting efforts for our State of Logistics Report coverage, the overwhelming consensus is that the truckload market has “bottomed out.”
“Our top TL analysts believe that by the beginning of 2025 we should see a steady tightening of the truck market that will create a slightly tougher environment for shippers,” reports Schulz. “However, I was told that we won’t see anything like 2021 or 2018 in the near future.”
What will this mean for TL shippers? “Now is the time to conduct a TL sourcing event,” adds Schulz. “That’s because if there’s any type of economic rebound—and that is not unreasonable to expect—truckload rates are likely to skyrocket next year.”
And while uncertainly still hangs in the air above the TL market, we can be fairly certain that the 28 carriers driving away with Quest for Quality Awards in 2024 have been delivering world-class service during unsettled times.
(Bold indicates leader in attribute category)
| On-time performance | Value | Information technology | Customer service | Equipment & operations | Weighted score | |
| Ruan Transport | 13.74 | 11.39 | 9.96 | 11.04 | 11.37 | 57.50 |
| Prime, Inc. | 10.99 | 9.61 | 6.64 | 11.39 | 10.42 | 49.05 |
| Quality Carriers | 13.74 | 10.68 | 6.64 | 8.28 | 9.48 | 48.81 |
| Schneider National Bulk Carriers | 10.99 | 9.61 | 8.30 | 10.35 | 9.48 | 48.72 |
| RXO | 11.45 | 10.68 | 6.64 | 10.35 | 9.48 | 48.59 |
| AVERAGE | 11.47 | 10.02 | 7.21 | 10.03 | 9.77 | 48.49 |
Source: Logistics Management, Peerless Research Group (PRG)
(Bold indicates leader in attribute category)
| On-time performance | Value | Information technology | Customer service | Equipment & operations | Weighted score | |
| Averitt | 12.37 | 11.21 | 9.13 | 11.90 | 9.95 | 54.56 |
| Covenant Transport | 11.45 | 11.39 | 6.64 | 11.04 | 10.11 | 50.62 |
| Landstar Transportation | 11.74 | 9.76 | 7.59 | 10.65 | 9.48 | 49.21 |
| J.B. Hunt Transport Services | 11.70 | 9.87 | 8.09 | 9.83 | 9.60 | 49.11 |
| U.S. Xpress | 11.91 | 9.96 | 7.75 | 9.66 | 8.84 | 48.12 |
| Western Express | 11.91 | 10.25 | 7.47 | 9.94 | 8.53 | 48.09 |
| Johanson Transportation Service | 12.21 | 8.54 | 8.30 | 8.28 | 9.48 | 46.81 |
| CFI | 10.99 | 9.61 | 7.47 | 9.66 | 8.84 | 46.57 |
| Knight-Swift Transportation | 10.18 | 9.61 | 7.47 | 9.32 | 9.95 | 46.52 |
| Schneider National | 11.24 | 9.01 | 7.47 | 8.28 | 9.75 | 45.75 |
| AVERAGE | 11.02 | 9.18 | 7.23 | 9.15 | 9.13 | 45.71 |
Source: Logistics Management, Peerless Research Group (PRG)
(Bold indicates leader in attribute category)
| On-time performance | Value | Information technology | Customer service | Equipment & operations | Weighted score | |
| Averitt | 13.74 | 12.81 | 9.96 | 11.73 | 11.37 | 59.61 |
| FedEx Custom Critical | 13.13 | 11.74 | 9.13 | 11.04 | 10.42 | 55.46 |
| PITT OHIO | 13.23 | 10.68 | 9.13 | 11.39 | 10.42 | 54.84 |
| A. Duie Pyle, Pyle Priority | 12.82 | 10.91 | 8.85 | 11.04 | 10.11 | 53.74 |
| Panther Premium Logistics | 10.08 | 11.39 | 8.85 | 11.04 | 10.11 | 51.46 |
| AVERAGE | 11.82 | 10.55 | 8.26 | 10.10 | 9.75 | 50.48 |
Source: Logistics Management, Peerless Research Group (PRG)
(Bold indicates leader in attribute category)
| On-time performance | Value | Information technology | Customer service | Equipment & operations | Weighted Value | |
| Roehl Transport | 11.91 | 11.10 | 8.63 | 9.94 | 10.61 | 52.19 |
| Universal | 11.45 | 9.96 | 7.75 | 11.04 | 8.84 | 49.04 |
| Landstar Carrier Group | 11.70 | 10.14 | 7.47 | 9.83 | 9.00 | 48.15 |
| AVERAGE | 11.41 | 10.06 | 7.40 | 9.78 | 9.44 | 48.09 |
Source: Logistics Management, Peerless Research Group (PRG)
(Bold indicates leader in attribute category)
| On-time performance | Value | Information technology | Customer service | Equipment & operations | Weighted Value | |
| North American Van Lines | 9.16 | 8.54 | 9.96 | 12.42 | 11.37 | 51.45 |
| ArcBest | 11.91 | 9.82 | 7.64 | 9.20 | 10.42 | 48.99 |
| Allied Van Lines | 9.16 | 11.39 | 6.64 | 10.35 | 9.48 | 47.01 |
| Atlas Van Lines | 9.16 | 6.41 | 4.98 | 12.42 | 11.37 | 44.34 |
| United Van Lines | 10.31 | 8.54 | 6.64 | 9.66 | 8.84 | 43.99 |
| AVERAGE | 10.04 | 8.40 | 6.34 | 9.43 | 9.57 | 43.79 |
Source: Logistics Management, Peerless Research Group (PRG)
