As Trucking Goes, So Goes The Economy

Clowdis said another reason that trucking companies are hurting now is because they weren't able to raise rates during the rapid fuel price rise last year, as surcharges — the fees truckers charge to shippers based on fuel costs — shot up. Those fuel surcharges helped offset millions spent on filling tanks. But now the surcharges are gone and truckers, forced to keep rates low, are simply bleeding money, Clowdis said.

Truckers have financing troubles as well, Clowdis said. Banks are still reluctant to hand out big loans to companies that might be hard-pressed to repay debt, so some truckers find it hard to secure credit lines to buy property or equipment.

"It's a tough business to run, although some have been able to adjust," Clowdis said. "Every carrier has had layoffs. Even the carriers with low debt are going to find it hard to make it through."