We are more than halfway through 2021 and our economy continues to experience the effects of Covid related supply chain issues. Demand for products and services remain at or near all-time highs, with shortages in raw materials and labor continuing to disrupt production. The lack of qualified drivers coupled with shortages in all types of trailing equipment has significantly constrained transportation providers which is exacerbating the stress on the overall system.

Our intermodal chassis division is growing in leaps and bounds and based on market dynamics, we are extremely bullish regarding our ability to continue our significant growth in the space. In order to meet this demand, CLC has placed significant orders with several chassis manufacturers for the upcoming year. On the other hand, manufacturers of both trailers and chassis remain reticent to take additional orders due to a lack of clarity around availability of component parts, labor and pricing. As a result of this uncertainty, a portion of CLC’s 2021 trailer production was pushed into 2022 with further cost increases incurred due to higher material costs.

Overall utilization is at an all-time high with essentially no significant availability of trailers or chassis to deploy which we anticipate continuing into if not through 2022. In addition, we have indications of interest for all equipment on order and, as a result, we continue to seek out additional sources of trailers and chassis to allow us to support the growing needs of our valued clients.

On the lighter side, the CLC team remains healthy and as committed as ever to supporting our customers recognizing that they too are facing unprecedented challenges in this environment.

While our industry faces obstacles the likes of which we have not seen in our lifetime, the CLC team remains resolute in our commitment to our customers, communities, and all stakeholders as we continue to work through these challenges together.

With Sincere Gratitude,

Mike Goor

President/CEO