I hate to ruin your Christmas, but I want to give you my predictions about what will happen next year to freight contracts. Here is my take:
- Ocean containers: Contract rates will more than double, given the spot price to ship a 40-foot container from Shanghai to Los Angeles in early December was 75% higher than the same time last year
- Contract carriage: Over 25% – Cass tells us that year-over-year costs are up 23%
- Package: FedEx Corp and UPS both said rates would go up an average of 5.9% next year
I wish I could give you better news.
Merry Christmas – may it be a good one for you and your family!