Werner Enterprises Inc at Wolfe Research Global Transportation & Industrials Conference (Virtual) - Fireside Chat Transcript
We're excited to be here in person. It's the first in-person conference we've done. Other -- we did one in Miami earlier this year, but it's great to be back in the city. We'd like to take this opportunity to give you our view of the current market and how Werner is positioned in that market.
So over the last three months, following the invasion of Ukraine and the Fed's action to increase interest rates to control inflation, spot rates are down about 35% from the peak. One-way truckload freight demand is moderated from really superior levels to what we would characterize as very strong. Truckload supply continues to be challenged by a very competitive driver market and persistent OEM new truck build delays.
We're one of the five largest carriers with a fleet of 8,200 trucks. Nearly two-thirds of our trucks reside in dedicated, or about 5,200 dedicated operation has extremely high on-time service requirements with our customers. The fleets are sized based on our customers' more consistent year-round volumes of freight, and
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