What was trucking like in the last recession?

You want to know about the recession or the depression? We had both in the first decade.

#3 is getting ready to start up.

 

I know I had to park the stepdeck to pull a reefer. Step freight was moving for .82 cpm when you could get it. I find it interesting a number of YouTube truckers passing out advice to people. Most of those guys did not own a truck when it happened. Much less the downturns in 1995, 1998,2000.
It does weed out the people on the edge.

 

Do not buy just yet.

Wait until the oncoming break in pricing takes hold. San Fran for example would be where it breaks first and fast. No one should be allowed to close sales on burned out homes for a million on a bit of land there. It's predatory.

 

Buy low; sell high!

 

Do you think its going to be as bad as 2008-9 or something mild like 1994?

 

In 2008- Diesel Fuel hit close to $5 per gallon- With Surcharges- I Made a killing that year in profit
Bring on the next one- I Should be able to Find Good used Trucks just for parts

And Yes- If your Jonesing for $$$, I'll give you scrap value for your 2013 Fruitliner.

 

There was a recession ?

 

company drivers didn't have it too bad during the 08 but rates went to crap and really didn't move that much during Obama years ..... 08 was tough for a lot of guys but I signed on with a ltl reefer company and was just fine ..... I was home most nights and I bought a repo house for 43,000 out in the country with some land and plenty of room to park the truck I put about 20k into the house and a lot of elbow grease but it's worth over 200 k now ..... I have been hauling a dry van since 2014 leased to landstar and I do mostly landstar direct loads mostly for 8 agents I avoid any double brokered loads ( like you get off most of the load boards ) . my debt load is 0 includes truck. vehicles credit cards house ect . have plenty of cash in my maintenance account along with savings . I will make money if we have a recession and I will make money if we don't ..... as long as my health hangs on. ... now the next one may hit a lot of guys a lot harder than 08 did by that I mean way too many trucks working the spot market . expert buisness men that get there own authority and work off the load boards only . they all seem to have one thing in common .. high debt load and a knowledge of this buisness during the good times . now the first thing that happens in a economic slow down is the spot market rates fall drastically usually at break even rates sometimes below and it's all a lot of these genius buisness guys have. . the spot market rates are set by the availability of trucks compared to available loads . now the spot market is a very valuable tool to use and all carriers use it to one extent or another but just like your tool box at home you need more than just one tool . now times are good and agents are having trouble finding people to haul there frieght and nows the time to build relationships with good agents that have there own contract frieght ( it doesn't do much good to have relationship with an agent that just double Brooker loads ) . if you wait for a recession to try and build relationships with agent's it's not going to happen easily and the best you can hope for is a bidding war and that ends badly. now is also the time to get your own loads wether you have your own authority or not. I have regular loads I do that I get some are once a month and others more sporadic ... next week I have some equipment moves around 15 loads or so short trips. the customer texted me today to make sure I can do them he will contact the agent when he knows what he needs and we will set the rates between us . I don't have my own authority and not planning on it but I do have 3 agents that I work for and deal through them and it is easier for me. but anyways once there are more trucks than loads it's a lot harder to get your own loads without getting into a bidding war . the way to get your loads is to offer service on time no hassles secure frieght and even bs with the people lol. hopefully a recession is a long way off. but you need to be prepared because I got a feeling it is going to create a boom in the bankruptcy courts

 

The last recession for trucking wasn’t during an economic recession. Think 2015 and 2016.