Equipment shortages driving up rail freight rates in US as UP bookings surge

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The peak season appears to have come early this year for rail shippers in southern California,

Spot rates for bookings on Union Pacific (UP) surged as much as 40% as customers scrambled for containers and open slots on trains.

According to one source, the shortage of containers has been at a level usually seen at the height of a peak season.

In an announcement to customers on 30 June, Kenny Rocker, UP’s executive vice-president marketing & sales, noted that volumes had risen as ...