Market Condition Index (MCI)
According to data from the FMCSA, the number of interstate carriers at the end of August had grown by just under 1% YTD adding 33,228 trucks to the national fleet count (for all types and modes). Even though capacity has been added across the board since the pandemic took effect, some fleet demographics have increased capacity substantially while others have shed capacity.
The largest increase in capacity was in the owner-operator category, which added 11,851 trucks (29% of total) since April 1, after being flat in the first quarter. In fact, two-thirds of trucks added to the market came from fleets in the one to 66 truck category. The increase in owner-operator truck count was largely offset by the reduction in capacity in the 5,000 to 16,000 truck category, which shed 11,620 trucks recording a 4.6% YTD decrease in capacity.
On the demand side, load board activity was higher again last week with the Hurricane-affected markets in Florida and the Gulf Coast getting back to normal and posting a 22% w/w increase in volume. On the West Coast, volumes in Ontario and Los Angeles posted a 16% w/w increase, while further north in San Francisco volumes climbed 18% w/w. Houston reported the largest gain with a 30% w/w increase in outbound load posts.
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