US less-than-truckload (LTL) carriers, long overshadowed by their larger truckload counterparts, are stepping into the spotlight this year.
They’ve avoided the plunge in pricing that has gutted the truckload spot market and challenged larger truckload carriers. And even as freight volumes decline, major LTL carriers are planning to expand.
That came as a surprise to many US shippers and even some trucking companies, particularly those that expected a “freight recession” in late 2022 and early 2023 to lead to an economic recession. Many shippers believed LTL rates would drop sharply alongside truckload rates and freight volumes.
Instead, many LTL…