Total U.S. LTL revenue down to $25.2 billion in 2009, study shows
The less-than-truckload industry shrank 24.4 percent in 2009, as total U.S. LTL revenue plunged from $33.3 billion to $25.2 billion, according to an industry study.
The recession triggered by the 2008 global financial crisis spurred the worst decline in freight revenue in several years, the study by SJ Consulting Group revealed.
The LTL industry contracted less than 1 percent in 2008 and was basically flat in 2007 compared with 2006, despite a freight downturn in those years, according to the study.
Over the past three years, the LTL industry lost a quarter of the $33.7 billion revenue it had in 2006, the study shows, with most of that loss occurring in 2009.
The SJ Consulting survey ranks the top 25 LTL trucking companies by revenue. All the companies saw revenue drop by double-digit percentages, ranging from 10 to 47 percent. Full Story.....