Results published today by the Canadian General Freight Index (CGFI) indicate that the cost of ground transportation for Canadian Shippers continued to increase in May.
Overall Freight Costs increased by 3% in May when compared to April. Base Rates, which exclude the impact of Fuel Surcharges assessed by carriers, also increased by 2.7% with Average Fuel Surcharges increasing by 2.9% from the prior month.
"Akin to April's results, we are seeing increases in the truckload sector which is likely more sensitive to changes in capacity demand," says Dr. Alan Saipe, President, Supply Chain Surveys Inc. "This could be an indication of what may come in the future for LTL rates."
"With the continuous volatility in the rates, those in the transportation industry will need to be careful when planning ahead for 2011 and must consider a multitude of factors before doing so," adds Doug Payne, President of Nulogx.
Join Nulogx and SCL at our upcoming Breakfast Seminar September 14th to hear Dr. Alan Siape and a panel of experts share their opinions on expected changes in transportation industry in the coming months.
Industry experts will share timely and valuable information for shippers, carriers and supply chain practitioners challenged with creating business plans for 2011 in these uncertain times. Join us to gain insight on the economy and its effect on the transportation industry and to network with others also planning for 2011 to learn the steps you can take to best prepare your company.
For more information and to register for this exciting event visit http://www.nulogx.com/logistics-events.html
About the CGFI
The CGFI is sponsored by Nulogx, a leading Transportation Management Solutions provider, and is used by shippers and carriers to benchmark performance, develop business plans, and secure competitive agreements. It was developed with the assistance of Dr. Alan Saipe. For more information visit the CGFI website:
www.cgfi.ca
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