All kinds of different factors can have an impact on freight rates, and while a particular load may have cost a certain amount for a week, the following week this could have changed considerably. Moreover, using one shipping mode versus another could be more cost-effective.
Even small differences in freight rates can quickly add up, particularly for organisations making regular batch shipments. So, consider shopping around to make sure you get the best rate before you sign off on your next shipment and pay more than you need. Load rates are affected by rising fuel costs and increasing driver retirement.
Even small differences in freight rates can quickly add up, particularly for organisations making regular batch shipments. So, consider shopping around to make sure you get the best rate before you sign off on your next shipment and pay more than you need. Load rates are affected by rising fuel costs and increasing driver retirement.
Fuel costs: If carriers find that to travel the same routes they have to pay a little more for their trucks or container ships, they will build this extra cost into the rates of customers.
Commercial driver landscape: As in many industries, businesses are seeing an increased number of open commercial driving job positions, especially as older drivers are retiring. Indeed, a large regional carrier recently reported that over 20% of its current driver workforce is preparing to retire over the next five years.
Rising freight demands: Especially as we head into the end-of-year shopping season, retail and rising demands will also increase freight and shipping needs in other industries.
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