CHATTANOOGA, TN — Transport Capital Partners (TCP) fourth quarter Business Expectations Survey showed that while there was a slight improvement in unseated trucks since August, the driver shortage continues to plague the trucking industry.

Seventy percent of carriers reported difficulty filling empty seats, TCP said. The number of carriers reporting unseated trucks in the 6 to 10 percent category rose from 10 percent to 18 percent, while the number reporting more than 10 percent unseated trucks dropped from 8 percent to less than 1 percent.

The decrease in the over 10 percent unseated category is more than likely due to a combination of factors, TCP said.“Carriers are aggressively recruiting and are opening more training slots, while the lack of extension of unemployment benefits is potentially encouraging people to seek jobs and training,” explained Richard Mikes, TCP partner and study leader.

Wage Expectations

Wage expectations in relation to what the annual salary must be in order to attract and retain drivers has shifted significantly since May, TCP said. Sixty-five percent of carriers now believe that wages must be more than $60,000 — up from 49 percent in May.

Mikes said that with the slight improvement in U.S. GDP, it is clear that there is a capacity crunch on trucks and drivers.

“Shippers and brokers," added Lana Batts, TCP partner, "are reporting that trucks have been harder to secure, and while rates have risen, carriers still tell us that ROI is not adequate nor keeping pace with costs."

The stronger than expected finish to 2011, noted both Mikes and Batts, brings ongoing challenges in 2012 to keep up and secure adequate rates to cover costs.

Balancing Acts

Balance is the keyword for 2012, TCP said: balancing trucks with loads, rates with costs, balancing the scarce supply of drivers to fill seats, and balancing the replacement of an aging fleet with decent returns on new and more expensive trucks.