Covenant Logistics Group is experiencing unprecedented bid levels from customers, with a 17% increase since August, as concerns over trucking capacity grow, according to CEO David Parker. This unusual surge is attributed to recent government enforcement of English language standards, leading to capacity exits in the freight industry. While some shippers are proactively securing bids to mitigate potential rate hikes, overall contract rates remain flat due to overcapacity and insufficient freight. Parker noted that after four years without rate increases, Covenant is now seeing requests for higher rates from select customers.

Source: https://www.supplychaindive.com/news/covenant-logistics-higher-bids-customers-q3-earnings-2025/804385/