The North American trucking sector is fighting on two fronts at once: there are fewer trucks available for hire, and the cost of running them keeps climbing. That is the central message of a recent FreightWaves analysis, which describes an industry squeezed between tightening capacity and a surge in operating expenses. 

Industry experts quoted in the piece point to a paradox. On paper, freight demand remains moderate, not booming. Yet fleets are struggling to commit trucks and drivers under acceptable terms. Years of bankruptcies, fleet downsizing and cautious investment have left the market with less spare capacity than before the pandemic. Many small carriers exited when spot rates fell, and larger players are now more conservative about fleet expansion.

On the other side of the equation, costs are moving relentlessly higher. Insurance premiums, tolls, equipment prices, financing charges and compliance-related expenses are all weighing on profit margins. Solution providers such as Fleetworthy are presented in the article as key allies in this environment, helping fleets track and manage a rising tide of invoices, from toll transponders to regulatory documentation, to keep trucks compliant and on the road at the lowest possible cost. 

The article notes that capacity contracts are becoming more complex and more contentious. Shippers facing service disruptions are pushing for guaranteed capacity on critical lanes, often at locked-in prices, while carriers are reluctant to sign long-term deals that might leave them exposed if fuel, wages or insurance jump again. The result is a fragile equilibrium: freight is moving, but both sides are nervous about committing too far into the future.

Driver availability remains a structural concern. Even where volumes are not spectacular, fleets must still compete for talent with construction, warehousing and last-mile delivery companies. Rising living costs mean that drivers expect higher pay and better conditions, adding another layer to the cost stack. For long-haul operations, lifestyle factors and time away from home continue to limit recruitment.

For shippers and forwarders, the key takeaway is that land transport risk has not disappeared just because spot rates have cooled. Securing trucking capacity now requires a more strategic approach:
• diversifying carriers rather than relying on a single large fleet,
• combining traditional long-term contracts with flexible mini-bids, and
• investing in better planning to reduce empty miles and waiting time at loading points.

The FreightWaves analysis concludes that the industry is entering a new phase where data, compliance and cost control matter as much as negotiating rates. Those who can manage both sides of the war – capacity and costs – will be best placed to serve global supply chains as market conditions shift again.

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