The tonnage shipped by the trucking business rose to an all-time high in February, with rates for truckload shipments up ticking slightly from a year ago. The American Trucking Associations’ seasonally-adjusted truck tonnage index rose 7.2 percent in February from a month earlier.*
ATA’s chief economist attributed February’s strong volumes to shippers playing “catch-up” after winter storms in January held up some shipments. Many analysts had predicted a lackluster 2016 for the freight business, especially in the first half of the year. But many have noted that last month’s strong volumes are encouraging.
A monthly report by Cass Information Systems Inc. showed that per-mile truckload rates were 0.5 percent higher this February as compared to the same time last year. But overall the rates were down month-to-month, reaching their lowest point since last summer. Cass analysts attributed the decline to softening demand and overcapacity in the truckload market.
Many national carriers are doing well, however, smaller regional carriers are losing market share.
Triumph provides carriers of all sizes with the financial resources they specifically need for their business. Triumph Commercial Finance specializes in equipment-based lending for the transportation industry. They know the ins and outs of your business and have the flexibility to not only meet your needs, but also help you grow.
For smaller trucking fleets and companies, accessing working capital to pay expenses in a timely manner may be difficult right now. Triumph Business Capital offers invoice factoring, allowing you to pay your employees and vendors without waiting on clients to pay their bills. Invoice factoring companies like Triumph will pay your unpaid invoice in as little as 24 hours, so you can get the working capital you need and get back to doing business.