Various factors contribute to the expectations of freight costs for 2022. As we continue to see freight rate and volume increases across all commodities, driver shortage remains an issue. Moreover, truck and trailer manufacturers’ lead time for producing new equipment is delayed due to national supply chain issues. These issues combined are major contributors to rising freight costs. For the week of January 17th, 2022 alone, the FBX index shows a global freight rate increase of 1%, which is 140% higher than last year at this time. These elevated rates are expected to remain for most of this year, according to experts.
-Mark Miller, Senior Branch Director- Minnesota
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