A recent survey of shippers had some good news for YRC Worldwide: Only 6 percent of those surveyed plan to reduce freight shipped with the trucking giant as it restructures to avoid bankruptcy, and 17 percent said they planned to send more freight YRC’s way.
Almost half of the shippers surveyed by Wolfe Trahan, 46 percent, said they would neither increase nor decrease their use of the troubled less-than-truckload operator.
The $4.3 billion trucking company, the second-largest LTL operator in the U.S., plans to complete a sweeping financial restructuring by July 22. That restructuring will cut into YRC Worldwide’s bank debt and generate $100 million in cash, while giving its banking group nearly three quarters of its stock.
“It seems like YRC Worldwide’s market share is likely to remain stable in the near term,” Wolfe Trahan said in its State of the Freight report, released this month. “We wouldn’t be surprised to see more shippers shift freight back to YRC in the second half of the year if the company successfully completes its recapitalization.”
In April, YRC’s national LTL network increased tonnage 7.6 percent, while its regional carriers increased tonnage 8.5 percent from a year earlier.