GROWTH was rather choppy throughout much of 2019, but the US economy still marked its longest sustained economic expansion in the nation’s history. The US economy closed out the year with overall growth of 2.3%. Gross domestic product grew by the same amount.
Tank fleets were among the beneficiaries of the continued strength of the US economy. More than 60% of the fleets participating in the 2019 Bulk Transporter Gross Revenue Report posted higher revenues. However, more of them also saw weaker operating ratios.
Tank truck carriers, in particular, benefitted in terms of total tonnage hauled. Tonnage was up 3.3% in 2019, according to the American Trucking Associations’ Truck Tonnage Index. While construction was relatively flat, manufacturing was better. Demand for chemicals, plastics, refined fuels, and foods remained steady.
Eight of the Top 10 carriers showed revenue growth in 2019. The Top 10 included Kenan Advantage Group, Quality Distribution Inc, Foodliner/Quest Liner Inc, Dupré Logistics LLC, Groendyke Transport Inc, Ruan Transportation Management Systems, Eagle Transport Corp, Martin Transport Inc, Slay Transportation Co Inc, and Tankstar USA.
Combined Top 10 revenues were $5.44 billion, up from $5.06 billion in 2018.
Average revenue for all of the carriers in the 2019 report was $194,478,563, up from $181,034,160 in 2018.
The median carrier on the list, the one with an equal number of tank truck carriers above and below it, had revenues of $81.5 million. In 2018, the median carrier revenue was $76 million.
Most of the fleets participating in the 2019 report provided data used to calculate tractor revenues. These numbers give an indication of productivity levels, and they show that carriers continue to work hard at squeezing maximum efficiency from their fleets.
The average tractor revenue for 2019 was $238,005, down slightly from $240,583 in 2018. Eight of the Top 10 reported average tractor revenue of $221,043. A petroleum hauler claimed the highest tractor revenue at $506,441, and a diversified tank truck carrier posted the lowest tractor revenue at $44,269.
Many figures used here are from pre-audited reports and may include nonbulk revenues or revenues from subsidiary tank truck carriers. In all cases, the numbers were supplied directly to Bulk Transporter. The staff greatly appreciates the cooperation of all who helped in the preparation of this report.
To view a chart with this year's ranking and revenues, use the "Related" link below to find it and all reports going back to 2001 in the Gross Revenue Reports Archive.
