Fleet sizing and distribution of empty equipments are two of the most critical problems in managing transportation system. This paper develops a cost model for sizing a fleet and establishing decentralized redistribution polices of empty equipments by building from inventory theory of multi-echelon system in hub-and-spoke network. An analytical approach to determine control variables of redistribution policies in each terminal and fleet size of the transportation system is proposed and its results are validated by simulation model. Numerical experiments are conducted with respect to parameters of the model and test results for assumptions of the model are discussed.