Freight rates likely to rise 3-3.5% this year in rail, truck, ocean shipping costs

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An interesting article in Furniture Today (which is relevant to the shipper of any goods) about freight rates, and what will impact them this year. While the fuel component is expected to remain low, west coast port congestion combined with better negotiating from ocean carriers are likely to see prices rise. Drewry warns that last year container shipping saw a 2% drop in rates – which they will want to make up this year. Meanwhile, modest rate increases on US rail networks are also likely, while driver shortage will continue to contribute to rising truckload freight rates.