Knight-Swift Transportation Anticipates Contractual Rate Hikes Amid Freight Market Recovery
Knight-Swift Transportation expects significant contractual rate increases in the current and upcoming bid cycles as the freight market recovers from a four-year downturn. The company's CEO noted that some carriers are no longer honoring previously negotiated rates, and shippers are seeking to secure peak-season capacity. Supply constraints and regulatory enforcement are driving underperforming operators out of the market.
Tickers: $KNX
Topics: capacity constraints contract rate hikes freight market peak-season capacity regulatory enforcement