Expensive diesel fuel isn't just driving up costs—it's driving trucking companies out of business.

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[–] 33 points 1 month ago (6 children)

The article doesn't state what the normal number of bankruptcies is. So we can't really tell from a single number if this is normal, better or worse.

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  • [–] [S] 12 points 1 month ago (2 children)
  • [–] 4 points 1 month ago

    I work in this industry. Read freightwaves to see that the market typically flips like this every few years and we've been very overdue for it. Diesel prices and CDL language crackdowns have accelerated the flip, but it was always expected.

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  • [–] 2 points 1 month ago

    Well according to the DOT, there are just north of 2.1 Million registered motor carriers. Of those. 1,083,501 are for hire.

    A couple of these were Amazon contractors, 7 were 6 or fewer trucks and drivers. Pretty much all of the midsize or larger companies went into chapter 11, so they'll continue operating just with a restructured debt plan.

    It was the 8 small companies with 6 or fewer trucks and drivers that entered chapter 7 liquidation. And I imagine that's pretty typical for those tiny companies any time diesel spikes.

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