YRC & LTL Market Updates
Aug 19, 2020
If you want to understand what is happening in the LTL marketplace, we strongly recommend you listen to this interview I just conducted with Darren Hawkins, the CEO of YRC Worldwide.
Here’s why: One of the most significant things that’s happened in the LTL industry in 2020 is YRCW’s deal with the United States government. It’s no surprise that over the past couple of months, we have been deluged with questions about what this deal means for the future and we shared our thoughts in a recent Two Minute Warning.
But instead of just listening to us, we reached out to Darren to get his perspective on what this deal means for shippers. If you are an LTL shipper, you owe it to yourself to listen to our interview. It will be a great investment of 40 minutes! Beyond discussing details about the deal, Darren also shares his thoughts about things that are happening with supply chains and how this impacts both carriers and shippers in the LTL and truckload spaces.
Make no mistake about it, the YRCW deal with the government is huge and, as I was quoted in the Wall Street Journal, upon completion, shippers were able to breathe a huge sigh of relief. The deal will have a significant impact on rates—shippers would have seen significant increases had it not gone through.
For those that may not be too familiar with the deal, there were two traunches that provided YRCW with $700 million. The first traunch went to getting them current on all their employee benefit payments that were due, and Darren explains why the second traunch, which will allow YRCW to modernize its fleet, is so important.
So all that said, if you need yet another reason to listen to the interview, Darren sheds more light on their plans for the future, what he's seeing in the LTL market as a whole, and for the Grand Finale, he also addresses how shippers can lower their rates and costs with carriers.