On the whole, Canadian shippers paid three percent more for over-the-road freight in May than they did in April.
The Canadian General Freight Index (CGFI)—a monthly report generated by Nulogx—shows that overall freight costs climbed by three percent over the course of the month.
Base rates—which exclude fuel surcharges—increased by 2.7 percent in May, while average fuel surcharges ticked upwards 2.9 percent.
“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 of Supply Chain Surveys Inc, which helped develop the CGFI.
“This could be an indication of what may come in the future for LTL rates.”
The CGFI is meant to give shippers and carriers benchmarks on the cost of moving product by truck. It uses Nulogx’s database of more than two million annual transactions as a base.