Unveiling of the 100 best carriers for rent in 2021
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As the country continues to recover from the COVID-19 pandemic, the trucking industry is relishing a strong rebound in freight while eagerly awaiting what many analysts expect to be a period of sustained economic growth.
This optimistic outlook is a welcome change from a year ago, when trucking companies faced severe supply chain disruptions and market volatility in the early months of the coronavirus outbreak. .
While small businesses have often been hit hardest by the pandemic, the largest for-hire motor carriers in North America also faced significant challenges during this most unusual time.
The trucking companies that make the 2021 Transport Topics Top 100 Carriers for Rent list are almost evenly split between companies that reported declining revenues in 2020 and those that managed to grow again during the year. of COVID-19.
Some fleet operators, particularly parcel couriers and last mile delivery providers, actually saw significant revenue growth last year amid rising e-commerce volumes as consumers order more of products online for home delivery while adhering to social distancing guidelines.
Meanwhile, a series of major acquisitions of top for-hire carriers also reshuffled this year’s Top 100 list.
The most prominent example is Canadian trucking conglomerate TFI International, which ranks in the top 5 with its $ 800 million acquisition of UPS Freight, the LTL and fullload division of the parcel giant. . The transaction, which closed in April, expanded the already vast lineup of trucking companies operated by Montreal-based TFI, which ranked 11th in last year’s Top 100.
Despite the sale of its Freight division, UPS Inc. remains firmly anchored at No.1, closely followed by rival FedEx Corp. at n ° 2.
Further down the list, No.14 Penske Logistics has also grown through acquisitions. In December, Penske purchased dedicated contract hauler Black Horse Carriers, which ranked No. 61 on last year’s list and operated a fleet of nearly 2,000 company-owned tractors.
Consolidation is also disrupting the bulk transport sector.
In May, rail operator CSX Corp. announced that it has agreed to acquire tanker operator Quality Carriers Inc., whose parent company Quality Distribution ranks 38th in this year’s Top 100. The transaction is expected to be finalized in the third quarter of 2021.
Bulk carrier Heniff Transportation Systems, meanwhile, rose to 64th as it continues to expand its operations by acquiring other fleets, including Jasa Transit from Blair, Neb., And Premier Bulk Systems from Gormley, Ontario, earlier this year.
McCoy Group, the parent company of No. 76 Foodliner and Quest Liner, added another bulk carrier to its portfolio with its December acquisition of WW Transport Inc. of Burlington, Iowa.
Some known Top 100 carriers are now appearing under new names.
No. 8 Yellow Corp., formerly known as YRC Worldwide, returned to its roots by reintroducing the Yellow brand for its holding company earlier this year. Its LTL subsidiaries – Holland, New Penn, Reddaway and YRC Freight – continue to operate under their existing brands.
XPO Logistics ranks # 3 on this year’s Top 100 for Rent list. (Andrei Stanescu / Getty Images)
Another new name on this year’s list is 10 Roads Express, a courier company formed by the amalgamation of several US Postal Service contractors including Eagle Express Lines, Salmon Cos. and Hoovestol Inc. The company, which now operates from 36 terminals across the United States, ranks 44th in the Top 100.
The No. 75 Roadrunner Freight has transformed itself. As part of its restructuring plan, the company sold its truck loading business last year and now consists only of its LTL operations.
Several companies are new to the Top 100 this year.
Pittsburgh-based R&R Express debuts at No.83, which offers a wide range of trucking and logistics services.
Other newcomers include No. 91 Postal Fleet Services, a mail delivery contractor based in St. Augustine, Florida, and No. 94 Daylight Transport, an LTL fleet headquartered in Long Beach, California.
The No. 97 United Vision Logistics, a heavy-duty and hazardous materials transporter based in Lafayette, Louisiana, also joins the list.
LTL carrier Central Freight Lines, founded in Waco, Texas, in 1925, returns to the Top 100 this year in 98th place.
Day & Ross ranks # 31 on this year’s Top 100 For Rent list. (Day and Ross)
Finally, Smith Transport, an employee-owned truckload transporter and logistics services provider, based in Roaring Spring, Pa., Registered at No. 100. The company made it to the Top 100 after reporting a revenue growth of more than 30% in 2020.
The Transport Topics Top 100 list and related industry sector lists presented in this publication rank the largest for-hire carriers in the United States and Canada based on annual revenues.
Most of the information comes from companies’ responses to a survey conducted by Transport Topics, as well as financial reports and other public sources. SJ Consulting Group provided revenue estimates for some carriers that did not report data. The lists also include information compiled by Bulk Transporter magazine and legal services firm Culhane Meadows.
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