Fleet operators park trucks as operating costs rise

Rising costs of insurance, fuel and drivers — and the continuing decrease of freight rates — are causing some fleet owners to park their trucks to avoid taking losses.

About 20% of borrowers from Truck Lenders USA’s $40 million portfolio have done just that, Jason Spates, chief executive of Truck Lenders USA, told Equipment Finance News. The Oyster Bay, N.Y.-based company operates across the continental U.S