Trucking’s Two-Front War: Capacity Contracts And Costs Explode

Core Insights - The trucking industry is currently facing significant challenges, primarily due to shrinking truckload capacity and rising operational costs [1] - Rising costs in tolls and insurance premiums are major contributors to the financial pressures on fleets, with tolling costs nearly doubling and insurance premiums increasing by up to 43% over five years [2] - Partnerships with technology providers like Fleetworthy are essential for fleets to manage costs effectively and enhance operational efficiency [3] Cost Challenges - The trucking industry is experiencing unavoidable expenses, particularly in tolling and insurance, which reflect broader financial pressures [2] - The cost of tolling has nearly doubled in recent years, while insurance premiums have surged significantly, forcing fleets to seek cost-effective solutions [2] Technological Solutions - Fleetworthy offers a comprehensive suite of solutions that includes toll management, weigh station bypass, and compliance management, which are crucial for fleet readiness [3] - The integration of Drivewyze with major ELD providers allows for efficient weigh station bypass notifications, reducing the need for lane changes and enhancing safety [5] - Leveraging technology not only aids in cost reduction but also improves safety and compliance within the trucking industry [4][5] Partnership Benefits - Bestpass, under Fleetworthy, provides access to the largest tolling network in the U.S., helping fleets avoid costly toll violations [4] - Collaborating with technology partners enables fleets to streamline operations and reduce unnecessary costs, which is increasingly important as operational costs rise [4][5]