PAM Transportation Services is well positioned for when the North American truckload rate cycle begins to turn, according to company President and CEO Joe Vitiritto. In this Talking Transports podcast episode, Vitiritto joins Bloomberg Intelligence Senior Transportation & Logistics Analyst Lee Klaskow to discuss the outlook for truckload rates and demand. The proliferation of brokers, private fleet growth and excess capacity at for-hire carriers have created slack capacity that has been slower to exit during this rate cycle, keeping rates lower for longer. Rates may gradually improve next year on demand growth and more higher-cost capacity leaving the market. Vitiritto also discusses how the company intends to grow organically and through acquisitions.