Con-way: LTL rates have bottomed
LTL firm says demand slump has run its course
By Dave Hannon -- Purchasing, 7/19/2007 1:45:00 PM
Logistics buyers may have seen the end of the less-than-truckload rate slide.
Doug Stotlar, CEO of LTL carrier Con-way, told Reuters that his firm does “not expecting further deterioration at this point.”
In a company statement, Stotlar said “The soft market for LTL freight remains highly competitive and price-sensitive, which has put pressure on yields...We expect LTL freight demand to remain restrained through the remainder of 2007 leading to moderate year-over-year volume growth."
Bear Stearns analysts pointed out that Con-way’s “attempt to grow again has come at a cost to pricing in an increasingly competitive market.”
Stotlar did say, however, he expects a third-quarter peak season in 2007. "This year we expect a return to regular seasonal trends." Trucking firms told Purchasing that the 2006 peak season was almost non-existent due to retailers adjusting inventories.
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