According to a Wall Street Journal report, citing information from Avondale Partners, 120 trucking companies with an average fleet size of 17 tractor-trailer units ceased operations in Q2/16 compared to 70 firms of a similar size in Q2/15.

The Journal noted that the failures are primarily the result of rising fuel prices and slowing demand.

The Journal also said that only 310 trucking fleets shut down in 2015, reaching an all-time low in the time since Avondale started tracking failures in 1986.