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Freight Costs Slowly Dropping: CGFI

Posted: August 1, 2014

This CGFI chart showsTotal Freight Costs for over the road shipments starting in January 2008.

TORONTO — Canadian shippers paid 0.29 percent less in May than April for ground transportation, according to the Canadian General Freight Index (CGFI) report. The report, published July 25, also showed that both the average fuel surcharges and the base rate index, which excludes the impact of accessorial charges, also decreased by 0.3 percent compared to April 2012.

“We are experiencing a marginal decrease in base rates and a slight increase in accessorials, while fuel remained relatively flat,” said Doug Payne, Nulogx president. “It appears that marginal base rate gains in the domestic LTL Truckload markets were offset by marginal decreases in the cross border LTL Truckload markets.”

The July report shows that total freight costs have been dropping since February 2012, and that the rate at which the freight costs decrease has slowed in May.

Even with the steady decrease (1.7 percent in March, 2.2 percent in April and 0.3 percent in May), the total freight cost in May 2012 is still 2.7 percent higher than last year’s for the same period.

Read the full CGFI report here.

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