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ShareTORONTO -- Results published today by the Canadian General Freight Index (CGFI) show that the cost of ground transportation for Canadian shippers increased 1.6% in February, offsetting a similar decline in January.
Base rates, which exclude the impact of fuel surcharges assessed by carriers, also increased by 2.1% with average fuel surcharges increasing 1.6% from the prior month; both balancing similar declines during the prior month.
"February's results are essentially at the same level as the last quarter of 2009 with less than a 0.5% overall variance," says Dr. Alan Saipe, president of Supply Chain Surveys Inc.
Doug Payne, president of Nulogx, says the results confirm suspicions that rates are stabilizing within the marketplace as both shippers and carriers adjust to the current economic situation.
"We expect that cost reductions resulting from market factors will become more elusive for shippers in the coming months," Payne says.
The CGFI is sponsored by Nulogx, a provider of transportation management solutions, 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. Saipe.
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