NEWARK, N.J. – Trucking rates are on the rise, possibly leading to what could be “an explosive situation,” according to Data2Logistics executive vice-president Harold Friedman in a recent cover story in the Journal of Commerce.
The US publication found truckload rates in the US are up 8-9% over 2009 and shippers are scrambling to lock in capacity and favourable trucking rates.
Demand has risen 24% from last year and 14.4% in May alone, the Journal reports.
“We have an explosive situation that’s just starting to ignite,” Friedman said.
The trend follows three years of rate cutting and fleet downsizing. Friedman says he expects overall rates will reach 10-12% in the next few months.
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