ENCINITAS, Calif. — A new study by Flock Freight and Drive Research shows that in 2023, 43% of truckloads moved partially empty, with an average of 29 linear feet of unused deck space.
That equals one in four truckloads moving completely empty.
The study, titled “Wasted Space, Wasted Dollars: The Economic Impact of Inefficient Freight,” surveyed 1,000 transportation decision-makers in the U.S. from various industries, providing a comprehensive view of the challenges and strategies employed to drive efficiency.
“Historically, the U.S. truckload market has been locked into a binary concept of ‘full’ or ‘empty’ when it comes to trailer capacity. We are challenging both Shippers and Carriers alike to rethink this,” said Chris Pickett, chief operating officer at Flock Freight. ”With 43% of truckloads moving only partially full, there’s a massive opportunity for businesses to maximize trailer utilization and reduce overall transportation spend with our Shared Truckload solution.”
According to Flock Freight, the new research highlights the hidden costs of LTL shipping, with the average enterprise shipper incurring up to $6.3 million annually in damage and loss claims.
Additionally, unexpected accessorial fees and the time spent by employees managing these issues add to the financial burden on businesses.
“Exiting a deflationary phase of the truckload freight cycle in 2024, the industry braces for heightened economic impacts,” a news release states. “As a result, 90.8% of shippers have raised their budgets by 1 to 10% to navigate the expected market shifts.”
The study also uncovered growing concerns around fraud and theft within the freight industry.
In 2023, 89% of shippers were affected by these issues, with one in every 43 shipments impacted.
This not only leads to direct financial losses but also causes a ripple effect of reduced earnings, unexpected fines and a decline in customer satisfaction.
To read the full report, click here.
Born in Pine Bluff, Arkansas, and raised in East Texas, John Worthen returned to his home state to attend college in 1998 and decided to make his life in The Natural State. Worthen is a 20-year veteran of the journalism industry and has covered just about every topic there is. He has a passion for writing and telling stories. He has worked as a beat reporter and bureau chief for a statewide newspaper and as managing editor of a regional newspaper in Arkansas. Additionally, Worthen has been a prolific freelance journalist for two decades, and has been published in several travel magazines and on travel websites.
